---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-052102"
form_type: "8-K"
ticker: "ADMA"
cik: "0001368514"
company_name: "ADMA BIOLOGICS, INC."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T08:57:30.400878+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# ADMA Biologics Q3 2023: first-time net income $2.6M, revenue $67.3M (+64% YoY), raises FY guidance

## Summary
- Total revenues $67.3M, up 64% YoY; first-time positive GAAP net income of $2.6M (vs $14.9M loss YoY).
- Adjusted EBITDA grew to $12.7M, up 98% QoQ; first-time positive operating cash flow of $12.0M; cash balance $74.2M.
- Gross margin improved to 36.6% from 23.5% YoY; net leverage ratio improved to 1.6x.
- FY2023 revenue guidance raised to >$250M; FY2024 >$290M; FY2025 >$335M (from $240M, $275M, $320M previously).
- Targets consolidated gross margin 40-50% and net income margin 20-30% in 2024-2025; ongoing strategic review.

## SEC filing metadata
- accession: 0001140361-23-052102
- form_type: 8-K
- ticker: ADMA
- cik: 0001368514
- company_name: ADMA BIOLOGICS, INC.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1368514/000114036123052102/0001140361-23-052102-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1368514/000114036123052102/ef20014134_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-052102
- JSON: https://secwatch.observer/filing/0001140361-23-052102.json
- Plain text: https://secwatch.observer/filing/0001140361-23-052102.txt

## Key facts
- Earnings Releases
  ADMA BIOLOGICS, INC. reported three months ended September 30, 2023 results: revenue $67.3 Million, net income $2.6 Million. Guidance raised.
  - Period: three months ended September 30, 2023
  - Revenue: $67.3 Million
  - Net income: $2.6 Million
  - Guidance: raised
  - Result: reported results
  source text: ADMA Biologics Announces Third Quarter 2023 Financial Results and Provides Business Update 3Q2023 Total Revenues of $67.3 Million, a 64% Y-o-Y Increase First-Time Positive GAAP Net Income of $2.6 Million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1368514/000114036123052102/0001140361-23-052102-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.