ADMA Biologics Inc (NASDAQ:ADMA) shares are moving higher in extended trading Thursday after the commercial biopharmaceutical company reported fourth-quarter financial results.
What Happened: ADMA Biologics said fourth-quarter revenue increased 90% year-over-year to $50 million. The company reported a quarterly loss of 6 cents per share, which was in line with average analyst estimates.
“We remain highly committed to driving profitability in the periods ahead and have now identified several opportunities to potentially grow peak revenues and earnings to levels exceeding prior guidance,” said Adam Grossman, president and CEO of ADMA Biologics.
ADMA said it has seen “encouraging business trends” since the start of 2023. The company expects to generate positive EBITDA no later than the second half of 2023 and noted that “accelerated profitability timelines may be achievable.”
ADMA expects full-year 2023 revenues to exceed $210 million. Full-year 2024 revenues are expected to be approximately $250 million, and 2025 revenues are expected to total $300 million.
The company will hold a conference call to discuss these results at 4:30 p.m. ET.
ADMA Price Action: ADMA Biologics shares were up 6.11% after hours at $3.30 at the time of publication, according to Benzinga Pro.
Photo: Michal Jarmoluk from Pixabay.
