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ADMA Biologics: Wall Street Projects Robust Revenue Growth

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Apr. 3 2019, Published 3:27 p.m. ET

Revenue growth estimates

ADMA Biologics (ADMA) has two commercialized assets in its portfolio, Nabi-HB and BIVIGAM, which it added through the acquisition of assets from Biotest Pharmaceuticals Corporation.

In fiscal 2018, ADMA Biologics reported revenues of $16.99 million, which marks a year-over-year decline of 25.37%. Wall Street analysts expect the company’s revenues to rise 33.50% year-over-year to $22.67 million in fiscal 2019, 164.26% to $59.92 million in fiscal 2020, and 76.19% to $105.57 million in fiscal 2021.

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In the fourth quarter of 2018, ADMA Biologics reported revenues of $4.06 million, a year-over-year decline of 66.20%. Analysts expect the company’s revenues to fall 21.07% year-over-year to $3.19 million in the first quarter, fall 19.22% to $3.76 million in the second quarter, rise 57.72% $6.42 million in the third quarter, and rise 129.62% to $9.31 million in the fourth quarter of fiscal 2019.

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Non-GAAP EPS growth estimates

In fiscal 2018, ADMA Biologics reported a net loss of $65.7 million, marking year-over-year deterioration of $22.0 million.

In fiscal 2018, ADMA Biologics reported non-GAAP EPS of -$1.45, a year-over-year increase of 12.12%. Wall Street analysts expect the company’s non-GAAP EPS to rise year-over-year 31.15% to -$1.00 in fiscal 2019, 51.59% to -$0.48 in fiscal 2020, and 74.14% to -$0.13 in fiscal 2021.

In the fourth quarter of 2018, ADMA Biologics reported non-GAAP EPS of -$0.39, a year-over-year decline of 34.48%. Analysts expect the company’s non-GAAP EPS to rise 26.67% to -$0.29 in the first quarter, 19.41% to -$0.27 in the second quarter, 24.85% to -$0.25 in the third quarter, and 45.64% to -$0.21 million in the fourth quarter of fiscal 2019.

According to the company’s 2019 10K filing, BPC, AmerisourceBergen, and McKesson Corporation are its major customers. These customers together accounted for 87% of ADMA’s total fiscal 2018 revenues.

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