Adma Biologics (ADMA 1.71%) stock experienced a nice pop in Thursday's trading session, after the company unveiled its latest set of quarterly earnings after market hours the previous day. Happy investors were trading the shares up by almost 5% late in the session.
Adma's third-quarter growth topped expectations
Adma, which focuses on developing and marketing plasma-derived biologics, published third-quarter results showing that its total revenue topped $67 million. That represented a very chunky 64% year-over-year increase.
Better, the specialty pharmaceutical company flipped to a net income of just under $2.57 million, or $0.10 per share, from the third-quarter 2022 loss of almost $4.9 million. This was the first quarter of headline profitability.
It also meant a double beat for Adma, as analysts tracking the stock were anticipating slightly over $62 million in revenue. They were also counting on a bottom-line loss of $0.01 per share.
The company credited its success to several key factors. CEO Adam Grossman said, "We believe ADMA's success is deeply rooted in our innovative business model and unwavering focus on the underserved immune deficient patient populations."
He added that since these populations are collectively very large, Adma still has great potential ahead of it.
Management raised its revenue guidance
This optimism inspired an increase in annual revenue guidance for this and upcoming years. Adma feels that it will earn over $250 million in 2023, well up from the $154 million of 2022, and higher than the company's previous guidance of $240 million.
Future periods also received a boost. For the entirety of 2024 it's expecting at least $290 million, which is higher than the preceding guidance of $275 million at a minimum. This should rise to $335 million for 2025. The company's previous forecast was $320 million.
