ADMA Biologics Reports First Quarter 2026 Financial Results and Provides Business Update
Rhea-AI Summary
ADMA Biologics (Nasdaq: ADMA) reported 1Q 2026 results: $114.5M revenue (flat YoY), ASCENIV revenue $97.5M (+28% YoY), BIVIGAM $15.4M (-54% YoY). The company posted Adjusted Net Income $40.7M (+22% YoY), Adjusted EBITDA $59.7M (+24% YoY), and $58M cash from operations. ADMA updated FY2026 guidance to $530M–$560M revenue, withdrew long‑term guidance, and said market dislocation drove timing and inventory effects while ASCENIV demand remained strong.
Positive
- ASCENIV revenue +28% year-over-year to $97.5M
- Adjusted Net Income +22% year-over-year to $40.7M
- Adjusted EBITDA +24% year-over-year to $59.7M
- Operating cash flow of $58M in 1Q 2026
- Gross margin expanded to 71% in 1Q 2026
- Net leverage below 0.5x at quarter end
Negative
- BIVIGAM revenue -54% year-over-year to $15.4M
- Total revenue essentially flat: $114.5M vs $114.8M
- Withdrew long-term guidance due to market competitive dynamics
- Market dislocation and distributor inventory pressures affected timing
- Receivables timing extended into April, impacting DSOs temporarily
News Market Reaction – ADMA
In the May 7 session, ADMA declined 15.97%, reflecting a significant negative market reaction. Argus tracked a trough of -24.6% from its starting point during tracking. Our momentum scanner triggered 36 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| 2026-02-25 | Full-year 2025 earnings | Positive | +1.0% | Record FY2025 revenue and earnings with reiterated long-term growth guidance. |
| 2025-11-05 | Q3 2025 earnings | Positive | -8.7% | Q3 growth and guidance raises, including higher FY2025–2026 revenue and EBITDA targets. |
| 2025-08-06 | Q2 2025 earnings | Positive | -9.7% | Double‑digit revenue growth, strong profitability and reinforcement of long-term revenue goals. |
| 2025-05-07 | Q1 2025 earnings | Positive | -10.2% | Q1 revenue up 40% YoY with higher guidance and new share repurchase program. |
| 2025-03-03 | FY 2024 earnings | Positive | +7.5% | Exceptional FY2024 growth, higher guidance and improving balance sheet metrics. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings releases have generally reported strong growth and guidance, but price reactions have more often been negative despite positive fundamentals.
Across recent earnings updates, ADMA has repeatedly highlighted strong revenue growth, expanding ASCENIV sales and rising adjusted EBITDA. Prior quarters featured yield‑enhanced manufacturing, higher long‑term revenue targets above $1.1B, and increased FY 2025–2026 guidance. Despite these upbeat trends, three of the last five earnings events saw notably negative next‑day moves, while two were modestly positive. Today’s Q1 2026 results add flat total revenue but higher margins and earnings, while resetting 2026 guidance.
Key Terms
adjusted ebitda financial
net leverage financial
rule 10b5-1 trading plan regulatory
plasma derived therapies medical
immunoglobulin medical
hyperimmune globulin medical
days sales outstanding financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
1Q 2026 Total Revenue of
1Q 2026 ASCENIV Revenue +
1Q 2026 Adjusted Net Income(1) of
1Q 2026 Adjusted EBITDA(2) of
1Q 2026 Cash from Operations of
Strong Balance Sheet and Financial Flexibility Support Continued Execution
Reiterates Confidence in ASCENIV Growth Outlook Driven by Durable Demand Fundamentals
Updates FY 2026 Outlook and Withdraws Long-Term Guidance to Reflect Evolving U.S. Plasma Products and IG Market Competitive Dynamics
RAMSEY, N.J. and BOCA RATON, Fla., May 06, 2026 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), a U.S. based, end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics, today announced its first quarter 2026 financial results and provided a business update.
“During the first quarter, the market for U.S. plasma derived therapies (PDT) and immunoglobulin (IG) experienced increased competitive dynamics which, along with variability in distributor ordering patterns, created near-term topline pressures, particularly impacting BIVIGAM,” said Adam Grossman, President and Chief Executive Officer of ADMA. “Importantly, these dynamics were limited to distribution and inventory behavior and we believe do not reflect any deterioration in underlying ASCENIV demand, where fundamentals remained strong and continue to improve – with record utilization growth throughout the quarter, as illustrated by ASCENIV’s
Mr. Grossman continued, “We believe the first quarter results likely represent a trough revenue baseline driven by what we anticipate is a temporary market dislocation, and we expect to drive growth over the coming quarters. Despite this backdrop, in the quarter ADMA delivered
Updated Financial Guidance and Outlook
- FY 2026 total revenue expected to be
$530 million to$560 million - FY 2026 Adjusted Net Income expected to be
$170 million to$200 million - FY 2026 Adjusted EBITDA expected to be
$265 million to$300 million - Withdrawing previously provided long-term guidance due to current competitive dynamics in the PDT & IG market
FY 2026 outlook reflects the rapidly changing competitive dynamics and sustained pressure with standard IG pricing throughout the balance of the year. ASCENIV growth outlook remains strong, supported by durable underlying demand fundamentals.
Commercial and Operational Execution Supporting Long-Term ASCENIV Growth
- ASCENIV Demand Remained Strong. ASCENIV delivered
28% year-over-year revenue growth in the first quarter of 2026, with underlying demand and utilization reaching record levels. The second quarter 2026 run rate based on April demand is in-line with the level of first quarter 2026 direct sales, reinforcing that end-market demand remains robust. ASCENIV’s differentiated product profile and positioning as a later-line therapy for the most complex and refractive immunodeficient patients continues to support demand resilience and sustained growth despite broader competitive pressures currently facing the standard IG complex. - Strong Balance Sheet Provides Optionality. ADMA exited the first quarter of 2026 with net leverage below 0.5x, driven by robust operating cash flow of
$58 million during the quarter and continued growth in Adjusted EBITDA. This combination of strong cash generation and expanding earnings is expected to provide the Company with significant financial flexibility to fund organic growth initiatives, support continued commercial expansion and execute on capital allocation priorities. Additionally, the Company has been actively executing share repurchases through its Accelerated Share Repurchase (ASR) program and Rule 10b5-1 trading plan. Through March 31, 2026, this has resulted in ADMA converting approximately3.7% of the outstanding share count into treasury stock. - 1Q 2026 IG Market Reset Drove Near-Term Dislocation, with ASCENIV Remaining Substantially Insulated. During the first quarter of 2026, the U.S. IG market experienced a reset due to elevated raw material plasma supply, increased competitive PDT inventories across the distribution network and aggressive discounting and rebating in standard IG, creating what we believe is near-term dislocation. While these dynamics impacted the broader standard IG market, ASCENIV remained relatively insulated. Given the rapid evolution of the market dynamics, ADMA, for guidance purposes, is conservatively assuming that pressures in standard IG persist.
- Reported 1Q 2026 Results Largely Reflect Timing and Inventory Dynamics. Late-quarter inventory dynamics shifted certain contractual purchase orders anticipated for March into early April, impacting reported revenue timing. We believe these timing dynamics were driven in part by temporary shortfalls in contractual safety stock levels at certain of the Company’s customers and were resolved within the applicable cure period. Separately, certain receivables extended into April, impacting cash flow and Days Sales Outstanding (DSOs), and were subsequently collected during the first week of April.
- Early Signs of Normalization Emerging in 2Q 2026. ADMA is beginning to see normalization in ordering patterns from its direct customers. The recently implemented McKesson Specialty distribution agreement is expected to enhance distribution reach, improve purchasing consistency, open new classes of trade and support working capital efficiency over time.
- 1Q 2026 Earnings Growth and Cash Generation at a Trough Baseline. Despite top-line variability, ADMA delivered Adjusted Net Income growth of
22% , expanded corporate gross margins to71% and generated approximately$58 million of operating cash flow in the first quarter of 2026, demonstrating the resilience of the business at what management believes represents a trough revenue baseline. - Successful Diversification of Plasma Sourcing & Monetization of Select Centers. During the first quarter of 2026, ADMA successfully closed the transaction to monetize three of its plasma collection centers, while continuing to execute on plasma sourcing diversification through additional supply agreements and targeted cost discipline initiatives to support profitability and scalability.
- SG-001 Expected to Add Long-Term Value. SG-001, the Company’s S. pneumoniae hyperimmune globulin program, continues to advance through a capital-efficient development pathway, with upcoming data expected to be presented through oral and poster presentations, further supporting its development strategy. Leveraging ADMA’s existing platform and commercial infrastructure, the Company is positioned for a potentially rapid commercial ramp-up toward an approximately
$300 t o$500 million market opportunity.
Audit Committee Review Reinforces Confidence in Business Practices. Following allegations of illicit channel stuffing and undisclosed related party transactions, the Audit Committee of the Company’s Board of Directors completed an internal review with the assistance of independent forensic accountants and external legal counsel, which concluded that ADMA has not engaged in any improper channel stuffing or any undisclosed related party transactions. The investigation also concluded that there is no evidence of any illegal activity. ADMA’s audited consolidated financial statements, as filed with the U.S. Securities and Exchange Commission in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, remain unchanged and unadjusted from the date of filing, February 25, 2026, and the Company remains confident in its internal controls, financial reporting and commercial practices.
First Quarter 2026 Financial Results:
Total revenue for the quarter ended March 31, 2026 was
Gross profit for the quarter ended March 31, 2026 was
Research and development expenses for the quarter ended March 31, 2026 were
Selling, general and administrative expenses for the quarter ended March 31, 2026 were
GAAP net income for the quarter ended March 31, 2026 was
Adjusted Net Income for the quarter ended March 31, 2026 was
Adjusted EBITDA for the quarter ended March 31, 2026 was
Conference Call Information
To access the conference call seamlessly, participants are required to register for the call here to receive the dial-in numbers and unique PIN. It is recommended that you join approximately 10 minutes prior to the event start (although you may dial in at any time during the call). Attendees who will not be asking a question during the call are encouraged to listen in to the live webcast here. An archived replay of the event will be available, located under “Events & Webcasts” in the investor section of the Company’s website at https://ir.admabiologics.com/events-webcasts.
About ASCENIV™
ASCENIV (immune globulin intravenous, human – slra
Additional Important Safety Information About ASCENIV™
| WARNING: THROMBOSIS, RENAL DYSFUNCTION AND ACUTE RENAL FAILURE |
| Thrombosis may occur with immune globulin intravenous (IGIV) products, including ASCENIV. Risk factors may include: advanced age, prolonged immobilization, hypercoagulable conditions, history of venous or arterial thrombosis, use of estrogens, indwelling vascular catheters, hyperviscosity, and cardiovascular risk factors. Renal dysfunction, acute renal failure, osmotic nephrosis, and death may occur with the administration of IGIV products in predisposed patients. Such events require immediate medical intervention, if not recognized or managed appropriately, may result in persistent or significant disability or lead to fatal outcome. For patients at risk of thrombosis, renal dysfunction or renal failure, administer ASCENIV at the minimum dose and infusion rate practicable. Ensure adequate hydration in patients before administration. Monitor for signs and symptoms of thrombosis and assess blood viscosity in patients at risk for hyperviscosity. |
ASCENIV™ Contraindications:
History of anaphylactic or severe systemic reactions to human immunoglobulin.
IgA deficient patients with antibodies to IgA and a history of hypersensitivity.
ASCENIV™ Warnings and Precautions:
IgA-deficient patients with antibodies against IgA are at greater risk of developing severe hypersensitivity and anaphylactic reactions. Have medications such as epinephrine available to treat any acute severe hypersensitivity reactions. [4, 5.1]
Thrombotic events have occurred in patients receiving IGIV treatments. Monitor patients with known risk factors for thrombotic events; consider baseline assessment of blood viscosity for patients at risk of hyperviscosity. [5.2, 5.4]
In patients at risk of developing acute renal failure, monitor renal function, including blood urea nitrogen (BUN), serum creatinine, and urine output. [5.3, 5.9]
Hyperproteinemia, increased serum viscosity, and hyponatremia or pseudohyponatremia can occur in patients receiving IGIV treatment.
Aseptic meningitis syndrome (AMS) has been reported with IGIV treatments, especially with high doses or rapid infusion. [5.5]
Hemolytic anemia can develop subsequent to IGIV treatment. Monitor patients for hemolysis and hemolytic anemia. [5.6]
Monitor patients for pulmonary adverse reactions (Transfusion-related acute lung injury [TRALI]). If transfusion related acute lung injury is suspected, test the product and patient for antineutrophil antibodies. [5.7]
Because this product is made from human blood, it may carry a risk of transmitting infectious agents, e.g., viruses, and theoretically, the Creutzfeldt-Jakob disease (CJD) agent.
ASCENIV™ Adverse Reactions:
The most common adverse reactions to ASCENIV (≥
To report SUSPECTED ADVERSE REACTIONS, contact ADMA Biologics at (800) 458-4244 or the FDA at 1-800-FDA-1088 or http://www.fda.gov/medwatch.
About ADMA Biologics, Inc. (ADMA)
ADMA Biologics is a U.S.-based, end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases. ADMA currently manufactures and markets three United States Food and Drug Administration (FDA)-approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: ASCENIV™ (immune globulin intravenous, human – slra
Use of Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures that are not prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The Company believes Adjusted EBITDA and Adjusted Net Income are useful to investors in evaluating the Company’s financial performance. The Company uses Adjusted EBITDA and Adjusted Net Income as key performance measures because it believes that they facilitate operating performance comparisons from period to period that exclude potential differences driven by the impact of variations of non-cash items such as depreciation and amortization, as well as, in the case of Adjusted EBITDA, stock-based compensation or certain non-recurring items, and in the case of Adjusted Net Income, certain non-recurring items. The Company believes that investors should have access to the same set of tools used by its management and Board of Directors to assess its operating performance. Adjusted EBITDA and Adjusted Net Income should not be considered as measures of financial performance under GAAP, and the items excluded from Adjusted EBITDA and Adjusted Net Income are significant components in understanding and assessing the Company’s financial performance. Accordingly, these key business metrics have limitations as an analytical tool. They should not be considered as an alternative to net income, cash flows from operations, or any other performance measures derived in accordance with GAAP and may be different from similarly titled non-GAAP measures used by other companies. Please refer to the tables below for the reconciliation of GAAP measures to these non-GAAP measures for applicable periods.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, about ADMA Biologics, Inc. (“we,” “our” or the “Company”). Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain such words as “confident,” “estimate,” “project,” “intend,” “forecast,” “target,” “anticipate,” “plan,” “planning,” “expect,” “believe,” “will,” “is likely,” “will likely,” “position us,” “positioned,” “support,” “should,” “could,” “would,” “may,” “potential,” “opportunity” or, in each case, their negative, or words or expressions of similar meaning. These forward-looking statements include, but are not limited to, statements about the Company’s total revenue (including baseline levels), Adjusted Net Income, Adjusted EBITDA, cash and cash flow, earnings and earnings potential, financial guidance in future periods; our balance sheet and financial position; the current U.S. IG and PDT market, including competitive pressures; customer ordering patterns and inventory levels; expected benefits of the McKesson Specialty distribution agreement; our commercial execution initiatives and intended financial benefits; ASCENIV revenue growth, margins, earnings power, cash generation, addressable market, demand and utilization; share repurchases and capital structuring; internal controls, financial reporting and commercial practices; and SG-001, its data, regulatory filings and clinical trial timeline and revenue potential. Actual events or results may differ materially from those described in this press release due to a number of important factors. Current and prospective security holders are cautioned that there also can be no assurance that the forward-looking statements included in this press release will prove to be accurate. Except to the extent required by applicable laws or rules, ADMA does not undertake any obligation to update any forward-looking statements or to announce revisions to any of the forward-looking statements. Forward-looking statements are subject to many risks, uncertainties and other factors that could cause our actual results, and the timing of certain events, to differ materially from any future results expressed or implied by the forward-looking statements, including, but not limited to, the risks and uncertainties described in our filings with the SEC, including our most recent reports on Form 10-K, 10-Q and 8-K, and any amendments thereto.
(1) Adjusted Net Income is a non-GAAP financial measure. For a reconciliation of Adjusted Net Income to the most comparable GAAP measure, see the reconciliation included in the financial tables. All non-GAAP adjustments are presented pre-tax.
(2) Adjusted EBITDA is a non-GAAP financial measure. For a reconciliation of Adjusted EBITDA to the most comparable GAAP measure, see the reconciliation included in the financial tables.
INVESTOR RELATIONS CONTACT:
Argot Partners | 212-600-1902 | ADMA@argotpartners.com
MEDIA CONTACT:
Longacre Square Partners | ADMABiologics@longacresquare.com
| ADMA BIOLOGICS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS | |||||||
| March 31, | December 31, | ||||||
| 2026 | 2025 | ||||||
| (In thousands, except share and per share data) | |||||||
| Unaudited | |||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | 138,153 | 87,630 | |||||
| Accounts receivable, net | 135,862 | 158,429 | |||||
| Inventories, net | 222,098 | 206,465 | |||||
| Prepaid expenses and other current assets | 15,060 | 7,458 | |||||
| Assets held for sale | - | 6,530 | |||||
| Total current assets | 511,173 | 466,512 | |||||
| Property and equipment, net | 65,010 | 65,057 | |||||
| Intangible assets, net | 630 | 632 | |||||
| Goodwill | 3,530 | 3,530 | |||||
| Deferred tax assets, net | 69,969 | 73,261 | |||||
| Right-of-use assets | 6,402 | 6,650 | |||||
| Deposits and other assets | 8,470 | 8,600 | |||||
| TOTAL ASSETS | $ | 665,184 | $ | 624,242 | |||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 20,523 | $ | 22,519 | |||
| Accrued expenses and other current liabilities | 48,561 | 40,466 | |||||
| Current portion of long-term debt | 3,281 | 2,813 | |||||
| Current portion of lease obligations | 1,176 | 1,096 | |||||
| Liabilities held for sale | - | 2,647 | |||||
| Total current liabilities | 73,541 | 69,541 | |||||
| Long-term debt | 193,584 | 69,330 | |||||
| Deferred revenue, net of current portion | 1,369 | 1,405 | |||||
| Lease obligations, net of current portion | 6,365 | 6,646 | |||||
| TOTAL LIABILITIES | $ | 274,859 | $ | 146,922 | |||
| COMMITMENTS AND CONTINGENCIES | |||||||
| STOCKHOLDERS' EQUITY | |||||||
| Preferred Stock, | |||||||
| no shares issued and outstanding | - | - | |||||
| Common Stock - voting, | |||||||
| March 31, 2026: 240,962,203 issued and 232,288,977 outstanding; December 31, 2025: 239,793,566 issued and 237,874,496 outstanding | 24 | 24 | |||||
| Treasury stock, at cost, 8,673,226 and 1,919,070 shares as of March 31, 2026 and December 31, 2025, respectively | (143,170 | ) | (32,090 | ) | |||
| Additional paid-in capital | 649,796 | 671,039 | |||||
| Accumulated deficit | (116,325 | ) | (161,653 | ) | |||
| TOTAL STOCKHOLDERS' EQUITY | 390,325 | 477,320 | |||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 665,184 | $ | 624,242 | |||
| ADMA BIOLOGICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| Three Months ended March 31, | ||||||||
| 2026 | 2025 | |||||||
| (In thousands, except share and per share data) | ||||||||
| Unaudited | ||||||||
| REVENUES | $ | 114,493 | $ | 114,802 | ||||
| Cost of product revenue | 33,743 | 53,705 | ||||||
| Gross profit | 80,750 | 61,097 | ||||||
| OPERATING EXPENSES: | ||||||||
| Research and development | 2,597 | 826 | ||||||
| Plasma center operating expenses | 1,062 | 1,286 | ||||||
| Amortization of intangible assets | 55 | 25 | ||||||
| Gain on sale of plasma centers | (7,980 | ) | - | |||||
| Selling, general and administrative | 26,742 | 24,079 | ||||||
| Total operating expenses | 22,476 | 26,216 | ||||||
| INCOME FROM OPERATIONS | 58,274 | 34,881 | ||||||
| OTHER INCOME (EXPENSE): | ||||||||
| Interest and other income | 1,093 | 608 | ||||||
| Interest expense | (2,100 | ) | (1,975 | ) | ||||
| Other expense | (140 | ) | (64 | ) | ||||
| Other income (expense), net | (1,147 | ) | (1,431 | ) | ||||
| INCOME BEFORE INCOME TAXES | 57,127 | 33,450 | ||||||
| Provision for income taxes | 11,799 | 6,546 | ||||||
| NET INCOME | $ | 45,328 | $ | 26,904 | ||||
| BASIC EARNINGS PER COMMON SHARE | $ | 0.19 | $ | 0.11 | ||||
| DILUTED EARNINGS PER COMMON SHARE | $ | 0.19 | $ | 0.11 | ||||
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | ||||||||
| Basic | 236,072,751 | 237,775,476 | ||||||
| Diluted | 239,955,762 | 244,676,350 | ||||||
| NON-GAAP RECONCILIATION RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA(2) | |||||||
| Three Months ended March 31, | |||||||
| 2026 | 2025 | ||||||
| (In thousands) | |||||||
| Net income | $ | 45,328 | $ | 26,904 | |||
| Depreciation | 1,784 | 1,944 | |||||
| Amortization | 55 | 25 | |||||
| Income taxes | 11,799 | 6,546 | |||||
| Interest expense, net | 983 | 1,975 | |||||
| EBITDA | 59,949 | 37,393 | |||||
| Stock-based compensation | 6,329 | 4,624 | |||||
| Voluntary Withdrawal and product replacements | - | 3,837 | |||||
| Yield enhancement | 412 | 902 | |||||
| Gain on sale of plasma centers | (7,980 | ) | - | ||||
| Non-recurring professional fees | 942 | 1,182 | |||||
| Adjusted EBITDA | $ | 59,652 | $ | 47,939 | |||
| NON-GAAP RECONCILIATION RECONCILIATION OF GAAP NET INCOME TO ADJUSTED NET INCOME(1) | |||||||
| Three Months ended March 31, | |||||||
| 2026 | 2025 | ||||||
| (In thousands) | |||||||
| Net income | $ | 45,328 | $ | 26,904 | |||
| Stock-based compensation modifications | 609 | 474 | |||||
| Voluntary Withdrawal and product replacements | - | 3,837 | |||||
| Yield Enhancement | 327 | 902 | |||||
| Gain on sale of plasma centers | (6,332 | ) | - | ||||
| Non-recurring professional fees | 747 | 1,182 | |||||
| Adjusted net income(a) | $ | 40,679 | $ | 33,299 | |||
| (a) Add-backs reflected during the three months ended March 31, 2025 exclude estimated tax effect of | |||||||
| PRODUCT-LEVEL TOTAL REVENUE | ||||||||||||
| Three Months Ended March 31, | ||||||||||||
| 2026 | 2025 | Increase/ (Decrease) | Increase/ (Decrease) % | |||||||||
| (in thousands) | ||||||||||||
| ASCENIV | $ | 97,486 | $ | 76,332 | $ | 21,154 | 27.7 | % | ||||
| BIVIGAM | 15,422 | 33,512 | (18,090 | ) | -54.0 | % | ||||||
| Intermediates and other products(1) | 833 | 3,872 | (3,039 | ) | -78.5 | % | ||||||
| ADMA BioManufacturing | 113,741 | 113,716 | 25 | 0.0 | % | |||||||
| Plasma Collection Centers | 716 | 1,050 | (334 | ) | -31.8 | % | ||||||
| License revenue | 36 | 36 | - | 0.0 | % | |||||||
| Total Revenues | $ | 114,493 | $ | 114,802 | $ | (309 | ) | -0.3 | % | |||
| (1)Due to Nabi-HB historically representing less than | ||||||||||||
