Adma Biologics reports second-quarter revenue of $124.4 million
The specialty biologics company reported a 2% year-over-year increase in total revenue for the second quarter.
Adma Biologics (ADMA), a specialty biologics company, reported total revenue of $124.4 million for the second quarter. The result represented a 2% increase year-over-year and a sequential rise from the $114.5 million recorded in the first quarter.
Growth was driven by ASCENIV, which generated $102.9 million in revenue, up 24% year-over-year. This growth rate slowed from the 28% year-over-year increase reported in the prior quarter.
BIVIGAM revenue fell 49% year-over-year to $19.4 million. The decline was less severe than the 54% year-over-year drop seen in the first quarter.
GAAP net income rose 11% year-over-year to $37.8 million, while adjusted EBITDA increased 22% year-over-year to $61.8 million. Gross margin expanded to 69% compared to 55% in the second quarter of 2024, though it dipped from 71% in the first quarter of 2025.
Operating expenses included a surge in research and development spending, which rose to $6.0 million from $1.0 million in the prior-year period due to the development of SG-001. The company also saw its effective tax rate climb to 24.7% from 14.7% in the second quarter of 2024.
Adma reiterated its full-year 2025 guidance, projecting revenue between $530 million and $560 million, adjusted net income between $170 million and $200 million, and adjusted EBITDA between $265 million and $300 million.
The company repurchased 7.1 million shares during the quarter, bringing year-to-date repurchases to 13.8 million shares, or 5.3% of common stock outstanding. Long-term debt increased to $192.8 million as of June 30, 2025, up from $69.3 million at the end of 2024.