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ADMA Biologics reported first quarter 2026 results showing flat revenue but sharply higher profitability. Total revenue was $114.5 million, essentially unchanged from $114.8 million a year earlier, as 28% growth in ASCENIV sales to $97.5 million offset a 54% decline in revenue from another immunoglobulin product and lower intermediates revenue.
Gross profit rose to $80.8 million and gross margin expanded to 71% from 53%, helped by a richer ASCENIV mix and prior manufacturing improvements. GAAP net income increased to $45.3 million from $26.9 million, while Adjusted Net Income reached $40.7 million and Adjusted EBITDA was $59.7 million, both growing more than 20% year over year. The company generated $58 million of operating cash flow and ended March 31, 2026 with $138.2 million of cash and cash equivalents.
Management reiterated confidence in ASCENIV demand and updated its full-year 2026 outlook to reflect competitive pressure in the U.S. immunoglobulin and plasma therapies market, while withdrawing longer-term guidance.
ADMA Biologics reports a key regulatory milestone for its ASCENIV immune globulin therapy. The U.S. Food and Drug Administration has approved a supplemental Biologics License Application expanding ASCENIV’s primary humoral immunodeficiency indication to pediatric and adult patients two years of age and older, from a prior minimum age of 12 years. The approval also fulfills the required pediatric post‑marketing commitment and allows updated prescribing information. ASCENIV is a patented, plasma-derived intravenous immune globulin designed to provide antibodies against infections, supported by an established safety profile that includes boxed warnings and detailed precautions typical for IVIG products.
ADMA Biologics Inc ownership update: Vanguard Capital Management reports beneficial ownership of 12,110,153 shares of Common Stock, representing 5.08% of the class as of 03/31/2026. The filing states Vanguard has sole dispositive power over 12,110,153 shares and sole voting power for 1,803,282 shares. The filing is signed by a Vanguard representative on 04/29/2026.
ADMA Biologics, Inc. is calling a virtual 2026 annual stockholder meeting on June 2, 2026 at 10:00 a.m. Eastern Time via www.virtualshareholdermeeting.com/ADMA2026. Stockholders of record at the close of business on April 8, 2026, when 232,324,283 common shares were outstanding, may vote.
Investors will vote on electing two Class I directors, ratifying KPMG LLP as independent auditor for 2026, and approving on an advisory basis the compensation of named executive officers. The board, which currently has seven members in three staggered classes, recommends voting FOR all proposals.
The proxy describes ADMA’s governance structure, including fully independent Audit, Compensation, and Governance and Nominations Committees, and highlights a pay-for-performance philosophy that combines base salary, annual incentives, and multi-year equity awards. It also discloses major stockholders and equity plan capacity.
ADMA Biologics COO and SVP, Compliance Kaitlin M. Kestenberg-Messina had 20,362 shares of common stock withheld at $9.11 per share to cover taxes on vesting restricted stock units. These shares were retained by the company to satisfy mandatory tax withholding and were not sold in the open market.
After this tax-withholding disposition, she directly holds 446,238 shares of ADMA common stock. Footnotes indicate this total includes multiple blocks of unvested restricted stock units that vest in quarterly installments over four years and common shares from prior option exercises and net share settlements.
ADMA Biologics filed a current report to furnish a press release responding to a short seller report by Culper Research. The company states it refutes key allegations about its business practices, operations and immune globulin portfolio, especially regarding its ASCENIV therapy for immune-compromised patients.
ADMA highlights that demand and utilization for ASCENIV have grown steadily over the past two years and are at a record high, and that distributor stocking levels align with industry standards and ASCENIV’s long production cycle. The release also reiterates ASCENIV’s FDA-approved indication, manufacturing approach, patent protection and important safety warnings, and provides an overview of ADMA’s broader plasma-derived biologics portfolio and development pipeline.
ADMA Biologics Inc: The Vanguard Group filed Amendment No. 4 to a Schedule 13G/A reporting beneficial ownership of 0 shares of Common Stock. The amendment states that, following an 01/12/2026 internal realignment, certain Vanguard subsidiaries now report holdings separately and The Vanguard Group no longer reports beneficial ownership of those subsidiary holdings.
The filing is an ownership clarification by an institutional investor and does not disclose purchases or sales of ADMA shares in this amendment.
ADMA Biologics director Lawrence P. Guiheen reported a mix of option exercises and charitable estate planning transactions. On March 13, 2026, he exercised stock options to acquire 30,000 shares of common stock at $3.66 per share, increasing his direct equity stake. On March 17, 2026, he made bona fide gifts totaling 60,000 shares of common stock, including 30,000 shares transferred directly and 30,000 shares gifted to the 2019 Guiheen Irrevocable Trust, over which he retains control but disclaims beneficial ownership except for any pecuniary interest. After these transactions, he holds 105,520 shares directly, with additional shares held indirectly through irrevocable trusts as described in the footnotes.
ADMA Biologics President and CEO Adam S. Grossman exercised stock options for 15,000 shares of common stock at $5.40 per share on March 16, 2026, then sold 21,000 shares of common stock at $15.16 per share in open-market transactions.
The filing shows these trades were effected under a Rule 10b5-1 trading plan entered into on November 14, 2025. After the transactions, Grossman holds 2,112,777 shares of ADMA Biologics common stock directly, while entities Areth, LLC and Hariden, LLC hold 1,143,426 and 580,957 shares indirectly associated with him.