secwatch.observer — SEC 8-K summary
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Issuer:     ADMA BIOLOGICS, INC. (ADMA)
CIK:        0001368514
Form:       8-K
Filed at:   2026-02-25T23:59:59+00:00
Accession:  0001140361-26-006781
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ADMA Biologics reports record FY2025 revenue $510M (+20%), Adj. EBITDA $231M (+40%); CFO transition to Kohler
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- FY2025 total revenue $510.2M (+20% YoY); ASCENIV revenue $363M (+51% YoY). Gross margin 57.4% vs 51.5%.
- GAAP net income $146.9M (FY2024: $197.7M incl. $84.3M tax benefit). Adjusted net income $160.8M (+35% YoY). Adjusted EBITDA $231M (+40%).
- FY2026 guidance: revenue >$635M, Adj. net income >$255M, Adj. EBITDA >$360M. Targeting >$1.1B revenue by FY2029.
- CFO Brad Tade retiring effective Feb 25, 2026; succeeded by Terry Kohler (ex-CFO of OptiNose, Verrica). Kohler will become CFO/Treasurer Feb 26.
- Q4 2025: revenue $139.2M (+18% YoY); GAAP net income $49.4M; Adj. EBITDA $73.6M (+52% YoY).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1368514/000114036126006781/0001140361-26-006781-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1368514/000114036126006781/ef20066393_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-006781

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer