- ADMA Biologics (NASDAQ: ADMA) has reported its Q4 and full-year 2022 financial results. These are the details.
ADMA Biologics (NASDAQ: ADMA) has reported its Q4 and full-year 2022 financial results.
Q4 results: ADMA Biologics (NASDAQ: ADMA) reported a Q4 EPS of ($0.06), which was in line with a consensus of ($0.06). And the revenue for the quarter was $49.98 million versus the consensus estimate of $45.93 million.
Guidance: ADMA Biologics estimates FY 2023 revenue at $210 million compared to a consensus of $211 million.
ADMA Biologics sees FY2023 revenue of $250 million, versus the consensus of $258.7 million.
Full Year 2022 Financial Results:
— Total revenues for the year ended December 31, 2022 were $154.1 million, as compared to $80.9 million during the year ended December 31, 2021, an increase of $73.1 million, or approximately 90%. And this increase is mainly due to increased sales of our immunoglobulin products and intermediate fractions generated by our Boca Raton, FL manufacturing operations in 2022 totaling $69.2 million. Plus the company also experienced a $4.0 million increase in plasma revenues generated by its Plasma Collection Centers business segment due to increased sales of source plasma through spot market opportunities beyond its long-term supply agreement.
— The consolidated net loss was $65.9 million for the year ended December 31, 2022, as compared to $71.6 million for the year ended December 31, 2021. And the decrease in a net loss of $5.7 million was mainly due to the decrease in operating loss, largely offset by the higher interest expense and loss on extinguishment of debt resulting from the refinancing of our senior credit facility in March of 2022.
— As of December 31, 2022, ADMA had working capital of approximately $231.0 million, primarily consisting of $163.3 million of inventory, $86.5 million of cash, and cash equivalents, and $15.5 million of net accounts receivable, partially offset by an aggregate of $38.3 million of accounts payable and accrued expenses.
