v3.26.1
SEGMENTS
 6 Months Ended
Jun. 30, 2026
SEGMENTS [Abstract]  
SEGMENTS
11.
SEGMENTS
 
The Company is engaged in the manufacture, marketing and development of specialty plasma-derived biologics. The Company’s ADMA BioManufacturing operating segment reflects the Company’s immunoglobulin manufacturing, commercial and development operations in Boca Raton, Florida. The Plasma Collection Centers operating segment consisted of ten plasma collection facilities as of June 30, 2025 and seven plasma collection facilities as of June 30, 2026, all located throughout the United States. All facilities were operational, collecting plasma and holding FDA licenses as of each respective period. The Company defines its operating segments as those business units whose operating results are regularly reviewed by the chief operating decision maker (“CODM”) to analyze performance and allocate resources. The Corporate information included in the reconciliations below generally consists of certain unallocated general and administrative overhead expenses and interest expense on the Company’s senior debt (see Note 7). The Company’s CODM is its President and Chief Executive Officer. For the Company’s two operating segments, the CODM uses income before taxes as the measure of segment profit to determine the allocation of resources for each segment. Transactions between the two operating segments consist solely of the transfer of raw material plasma inventory at cost from the Plasma Collection Centers segment to the ADMA BioManufacturing segment with no markup or intercompany profit. Income tax benefit/expense is recorded in the Corporate entity and is not allocated to the operating segments. Summarized financial information concerning reportable segments is shown in the following tables:
             
Three Months Ended June 30, 2026  
(in thousands)
   ADMA
BioManufacturing 		     Plasma Collection
Centers 		     Total  
Revenues
 $123,637   $723   $124,360 
                
Cost of product revenue
  37,564    554    38,118 
                
Research and development
  6,014                    -     6,014 
                
Plasma center operating expenses
                 -     1,026    1,026 
                
Gain on sale of plasma centers
                 -                     -                   -  
                
Selling, marketing and distribution
  7,634                    -     7,634 
                
Depreciation and amortization expense
  1,281    499    1,780 
                
General and administrative expense
  8,340                    -     8,340 
                
Other income (expense), net
  (20)    150    130 
                
Income (loss) before taxes
  64,010    (707)    63,303 
                
Expenditures for additions to long-lived assets   2,256    -    2,256 
Total assets
  453,538    21,864    475,402 
                
Reconciliation of revenues:
              
Segment revenue
           $124,360 
License revenue
            35 
Consolidated revenues
           $124,395 
                
Reconciliation of selling, general and administrative expense:
              
Segment selling, marketing and distribution expense
           $7,634 
Segment general and administrative expense
            8,340 
Corporate general and administrative expense (a)
            10,763 
Consolidated selling, general and administrative expense
           $26,737 
                
Reconciliation of income (loss) before taxes:
              
Segment income before taxes
           $63,303 
License revenue
            35 
Unallocated interest expense, primarily related to interest on senior debt (see Note 7)
           (3,425)
Unallocated interest income
            1,087 
Corporate general and administrative expense (a)
            (10,763)
Consolidated income before taxes
           $50,237 
                
Reconciliation of total assets:
              
Total segment assets
           $475,402 
Corporate (b)
            208,808 
Consolidated total assets
           $684,210 
 
(a) - Primarily includes compensation expense, including stock-based compensation expense, for certain executive officers and consultants, insurance, legal and investor relations expenses and accounting and tax fees that are not allocated to the Company's operating segments.
 
(b) - Primarily consists of cash and deferred tax assets.
             
Six Months Ended June 30, 2026  
(in thousands)
   ADMA
BioManufacturing 		     Plasma Collection
Centers 		     Total  
Revenues
 $237,378   $1,439    238,817 
                
Cost of product revenue
  70,514    1,347    71,861 
                
Research and development
  8,611                     -     8,611 
                
Plasma center operating expenses
                   -     2,088    2,088 
                
Gain on sale of plasma centers
                   -     (7,980)    (7,980) 
                
Selling, marketing and distribution
  14,830                     -     14,830 
                
Depreciation and amortization expense
  2,556    1,064    3,620 
                
General and administrative expense
  16,798                     -     16,798 
                
Other income (expense), net
  (207)    218    11 
                
Income (loss) before taxes
  126,308    6,202    132,510 
                
Expenditures for additions to long-lived assets   4,772    27    4,799 
Total assets
  453,538    21,864    475,402 
                
Reconciliation of revenues:
              
Segment revenue
           $238,817 
License revenue
            71 
Consolidated revenues
           $238,888 
                
Reconciliation of selling, general and administrative expense:
              
Segment selling, marketing and distribution expense
           $14,830 
Segment general and administrative expense
            16,798 
Corporate general and administrative expense (a)
            21,851 
Consolidated selling, general and administrative expense
           $53,479 
                
Reconciliation of income (loss) before taxes:
              
Segment income before taxes
           $132,510 
License revenue
            71 
Unallocated interest expense, primarily related to interest on senior debt (see Note 7)
           (5,520) 
Unallocated interest income
            2,155 
Corporate general and administrative expense (a)
            (21,851) 
Consolidated income before taxes
           $107,365 
                
Reconciliation of total assets:
              
Total segment assets
           $475,402 
Corporate (b)
            208,808 
Consolidated total assets
           $684,210 
 
(a) - Primarily includes compensation expense, including stock-based compensation expense, for certain executive officers and consultants, insurance, legal and investor relations expenses and accounting and tax fees that are not allocated to the Company's operating segments.
 
(b) - Primarily consists of cash and deferred tax assets.
             
Three Months Ended June 30, 2025  
(in thousands)    ADMA
BioManufacturing 		     Plasma Collection
Centers 		     Total  
Revenues
 $121,948   $                -    $121,948 
                
Cost of product revenue
  54,757                      -     54,757 
                
Research and development
  1,031                      -     1,031 
                
Plasma center operating expenses
                    -     1,152    1,152 
                
Selling, marketing and distribution
  5,868                      -     5,868 
                
Amortization of intangible assets
  32                      -     32 
                
General and administrative expense
  14,941                      -     14,941 
                
Other expense, net
  (108)                      -     (108) 
                
Income (loss) before taxes
  45,211    (1,152)    44,059 
                
Expenditures for additions to long-lived assets   2,034    (7)   2,027 
Total assets
  368,229    29,161    397,390 
                
Reconciliation of revenues:
              
Segment revenue
           $121,948 
License revenue
            36 
Consolidated revenues
           $121,984 
                
Reconciliation of selling, general and administrative expense:
              
Segment selling, marketing and distribution expense
           $5,868 
Segment general and administrative expense
            14,941 
Corporate general and administrative expense (a)
            1,405 
Consolidated selling, general and administrative expense
           $22,214 
                
Reconciliation of income before taxes:
              
Segment income before taxes
           $44,059 
License revenue
            36 
Unallocated interest expense, primarily related to interest on senior debt (see Note 6)
           (1,834) 
Unallocated interest income
            400 
Loss on extinguishment of debt
            (1,159) 
Corporate general and administrative expense (a)
            (1,405) 
Consolidated income before taxes
           $40,097 
                
Reconciliation of total assets:
              
Total segment assets
           $397,390 
Corporate (b)
            160,990 
Consolidated total assets
           $558,380 
 
(a) - Primarily includes compensation expense, including stock-based compensation expense, for certain executive officers and consultants, insurance, legal and investor relations expenses and accounting and tax fees that are not allocated to the Company's operating segments.
 
(b) - Primarily consists of cash and deferred tax assets.
 
             
Six Months Ended June 30, 2025  
(in thousands)    ADMA
BioManufacturing 		     Plasma Collection
Centers 		     Total  
Revenues
 $235,665   $1,050   $236,715 
                
Cost of product revenue
  107,814    649    108,463 
                
Research and development
  1,858                  -     1,858 
                
Plasma center operating expenses
                   -     2,438    2,438 
                
Selling, marketing and distribution
  11,911                  -     11,911 
                
Amortization of intangible assets
  57                  -     57 
                
General and administrative expense
  30,024                  -     30,024 
                
Other expense, net
  (172)                  -     (172) 
                
Income (loss) before taxes
  83,829    (2,037)    81,792 
                
Expenditures for additions to long-lived assets   6,733    14    6,747 
Total assets
  368,229    29,161    397,390 
                
Reconciliation of revenues:
              
Segment revenue
           $236,715 
License revenue
            71 
Consolidated revenues
           $236,786 
                
Reconciliation of selling, general and administrative expense:
              
Segment selling, marketing and distribution expense
           $11,911 
Segment general and administrative expense
            30,024 
Corporate general and administrative expense (a)
            4,357 
Consolidated selling, general and administrative expense
           $46,292 
                
Reconciliation of income (loss) before taxes:
              
Segment income before taxes
           $81,792 
License revenue
            71 
Unallocated interest expense, primarily related to interest on senior debt (see Note 6)
           (3,809) 
Unallocated interest income
            1,008 
Loss on extinguishment of debt
            (1,159) 
Corporate general and administrative expense (a)
            (4,357) 
Consolidated income before taxes
           $73,546 
                
Reconciliation of total assets:
              
Total segment assets
           $397,390 
Corporate (b)
            160,990 
Consolidated total assets
           $558,380 
 
(a) - Primarily includes compensation expense, including stock-based compensation expense, for certain executive officers and consultants, insurance, legal and investor relations expenses and accounting and tax fees that are not allocated to the Company's operating segments.
 
(b) - Primarily consists of cash and deferred tax assets.
Net revenues according to geographic area, based on the location of where the product is shipped, were as follows:
 
                     
    
Three Months Ended June 30, 2026
 
(in thousands)
  
ADMA
BioManufacturing
    
Plasma Centers
    
Total Segment
Revenue
    
License
Revenue
    
Consolidated
Revenue
 
United States
 $123,253   $30   $123,283   $35   $123,318 
International
  384    693    1,077              -       1,077 
Total revenues
 $123,637   $723   $124,360   $35   $124,395 
 
                     
    
Six Months Ended June 30, 2026
 
(in thousands)
  
ADMA
BioManufacturing
    
Plasma Centers
    
Total Segment
Revenue
    
License
Revenue
    
Consolidated
Revenue
 
United States
 $236,616   $56   $236,672   $71   $236,743 
International
  762    1,383    2,145              -       2,145 
Total revenues
 $237,378   $1,439   $238,817   $71   $238,888 
 
                     
    
Three Months Ended June 30, 2025
 
(in thousands)
  
ADMA
BioManufacturing
    
Plasma Centers
    
Total Segment
Revenue
    
License
Revenue
    
Consolidated
Revenue
 
United States
 $121,948   $             -      $121,948   $36   $121,984 
International
                     -                     -                     -                 -                      -    
Total revenues
 $121,948   $             -      $121,948   $36   $121,984 
 
                     
    
Six Months Ended June 30, 2025
 
(in thousands)
  
ADMA
BioManufacturing
    
Plasma Centers
    
Total Segment
Revenue
    
License
Revenue
    
Consolidated
Revenue
 
United States
 $232,558   $85   $232,643   $71   $232,714 
International
  3,106    965    4,072              -       4,072 
Total revenues
 $235,664   $1,050   $236,715   $71   $236,786 
 
Net revenues, disaggregated by product, are as follows:
 
                 
    Three Months Ended June 30,     Six Months Ended June 30,  
    
2026
    
2025
    
2026
    
2025
 
(in thousands)
                   
ASCENIV
 $102,921   $83,321   $200,407   $159,653 
BIVIGAM
  19,419    37,710    34,841    71,222 
Intermediates and other(1)
   1,297    917    2,130    4,790 
ADMA BioManufacturing
  123,637    121,948    237,378    235,665 
                     
Plasma Collection Centers
  723                  -       1,439    1,050 
License revenue
  35    36    71    71 
Total
 $124,395   $121,984   $238,888   $236,786 
 
(1) Due to Nabi-HB historically representing less than 10% of the Company’s revenue within the ADMA BioManufacturing segment, it has been included under intermediates and other.