ADMA Biologics Announces Second Quarter 2023 Financial Results and Provides Business Update
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RAMSEY, N.J. and BOCA RATON, Fla., Aug. 09, 2023 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing, and developing specialty plasma-derived biologics, today announced its second quarter 2023 financial results and provided a business update. - Driven by 77% year-over-year revenue growth, which reached $60.1 million during the second quarter of 2023, ADMA grew Adjusted EBITDA to $6.4 million.
- 2023 & Long-Term Financial Guidance:
Updated 2023 Financial Guidance: ADMA now anticipates full year 2023 total revenues to meet or exceed $240 million, increased from $220 million previously. - As a result, ADMA achieved a gross margin of 27.8% in the second quarter of 2023 as compared to 22.9% in the second quarter of 2022.