Stock Track | ADMA Biologics Stock Soars on Stellar Q3 Results and Raised Outlook

Stock Track2024-11-08

Shares of ADMA Biologics (NASDAQ: ADMA) surged over 13% in pre-market trading today after the biopharmaceutical company reported record-breaking financial results for the third quarter of 2024. The company's stellar performance was fueled by strong demand for its flagship product, ASCENIV, which drove significant growth across key financial metrics.

ADMA Biologics achieved total revenue of $119.8 million in Q3 2024, a remarkable 78% increase from the same period last year. This robust top-line growth translated into an impressive 256% surge in adjusted EBITDA, reaching $45.4 million. Perhaps most notably, the company reported a staggering 1,300% year-over-year increase in net income, which soared to $35.9 million.

The company's gross margin also improved significantly, rising from 37% in Q3 2023 to 50% in the latest quarter. Bolstered by these exceptional results, ADMA Biologics raised its financial guidance for 2024 and 2025, now forecasting total revenues to exceed $415 million and $465 million, respectively.

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