ADMA Biologics, Inc. Income Statement
ADMA / Health Care|15 years of annual SEC 10-K data (FY2011-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.
ADMA Biologics, Inc. reported $510M in revenue and $147M in net income for FY2025. Revenue has grown at a 59.2% compound annual rate over the past 14 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 3.37 (safe zone, above 2.9 threshold)
- Strong profit margin: 46.4%
- Low earnings quality (accrual-heavy earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $510.2M | $426.5M | $258.2M | $80.9M | $80.9M | $42.2M | $29.3M | $17.0M | $22.8M | $10.7M | $7.2M | $5.9M | $1.1M | $761.0K | $761.0K |
| Cost of Revenue | $217.4M | $206.9M | $169.3M | $79.8M | $79.8M | $61.3M | $39.5M | $42.2M | $29.2M | $1.6M | $4.3M | $3.7M | $669.1K | $207.6K | $207.6K |
| Gross Profit | $292.8M | $219.6M | $88.9M | $1.2M | $1.2M | -$19.1M | - | -$25.2M | -$6.4M | $4.3M | $2.9M | $2.2M | $449.1K | $553.5K | $553.5K |
| SG&A Expense | $91.6M | $74.1M | $59.0M | $42.9M | $42.9M | $35.1M | $25.9M | $22.5M | $18.8M | $8.5M | $6.7M | $4.8M | $3.1M | $1.4M | $1.4M |
| R&D Expense | $4.8M | $1.8M | $3.3M | $1.5M | $3.6M | $5.9M | $1.0M | $3.9M | $5.6M | $7.7M | $7.0M | $9.5M | $3.5M | $646.8K | $646.8K |
| Operating Income | $191.4M | $139.0M | $21.6M | -$58.4M | -$58.4M | -$64.9M | -$41.4M | -$60.3M | -$39.3M | -$17.3M | -$15.5M | -$16.0M | -$7.9M | -$4.6M | -$4.6M |
| Interest Expense | - | - | $25.0M | $13.1M | $13.1M | $12.0M | $9.0M | $5.5M | $3.3M | $2.2M | $1.8M | $1.3M | $30.7K | $1.6M | $1.6M |
| Income Tax | $35.7M | -$72.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$551.7K | -$617.6K | - | - |
| Net Income | $146.9M | $197.7M | -$28.2M | -$71.6M | -$71.6M | -$75.7M | -$48.3M | -$65.7M | -$43.8M | -$19.5M | -$18.0M | -$16.8M | -$7.3M | -$5.9M | -$5.9M |
| EPS (Basic) | $0.62 | -$0.33 | -$0.13 | -$0.51 | -$0.88 | - | - | - | - | - | - | - | - | - | - |
| EPS (Diluted) | $0.60 | -$0.33 | -$0.13 | -$0.51 | -$0.88 | -$0.89 | -$1.45 | -$1.45 | -$1.91 | -$1.73 | -$1.73 | -$2.38 | -$1.39 | -$16.72 | - |
| Shares Outstanding | 237.9M | 226.1M | 226.1M | 195.8M | 104.9M | 59.3M | 46.4M | 46.4M | 36.7M | 10.7M | 10.7M | 9.3M | 5.9M | 408.6K | 353.1K |
| Gross Margin | 57.4% | 51.5% | 34.4% | 1.5% | 1.5% | -45.2% | - | -148.4% | -28.1% | 40.3% | 39.9% | 36.7% | 40.2% | 72.7% | 72.7% |
| Operating Margin | 37.5% | 32.6% | 8.4% | -72.1% | -72.1% | -153.8% | -141.1% | -354.9% | -172.7% | -162.6% | -216.1% | -270.8% | -707.4% | -607.4% | - |
| Profit Margin | 28.8% | 46.4% | -10.9% | -88.5% | -88.5% | -179.4% | -164.5% | -387.1% | -192.3% | -183.1% | -250.4% | -284.2% | -653.0% | -775.7% | - |