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Adma Biologics (ADMA) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Adma Biologics (ADMA) Q3 2026 earnings results →
Q3 2026 Revenue up 5% year over year to $141M · 35¢ of every $1 of revenue kept as net profit · operating margin 48.0%
Adma Biologics made $141M in Q3 2026 (+5% Y/Y). Operating margin 48.0%, net earnings $49.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
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What changed this quarter
Revenue was $141.1M in Q3 2026, up 5% year over year and up 13% from the previous quarter.
Gross margin was 70.8%, up 14.5 points from Q3 2025. Operating profit was $67.8M, a 48.0% margin (up 10.0 points year over year). Of the extra revenue versus Q3 2025, 243% reached operating profit, above the 38% margin then. Operating expenses grew 31% against revenue growth of 5%. The fastest-growing cost line was Research & development (+194%). Net earnings were $49.9M, up 37% year over year. The effective tax rate was 24.0%.
Operating cash flow was $17.4M (up 31% year over year), 35% of net earnings. Non-cash charges added back $1.7M of depreciation and amortization and $6.2M of share-based compensation. Working capital and other items used $40.4M. Capital expenditures of $2.0M left free cash flow of $15.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $141M | +5% | 48.0% | $49.9M | $17.4M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $124M | +2% | 42.2% | $37.8M | $29.5M |
| Q1 2026 | 10-Q | May 6, 2026 | $114M | -0.3% | 50.9% | $45.3M | $58.2M |
| Q4 2025 | 10-K | Feb 25, 2026 | $139M | +18% | 45.1% | $49.4M | $35.6M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $134M | +12% | 38.0% | $36.4M | $13.3M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $122M | +14% | 35.1% | $34.2M | $21.1M |
| Q1 2025 | 10-Q | May 7, 2025 | $115M | +40% | 30.4% | $26.9M | −$19.7M |
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About Adma Biologics
ADMA Biologics is a U.S.-based, end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases. ADMA currently manufactures and markets three United States Food and Drug Administration (FDA)-approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: ASCENIV™ (immune globulin intravenous, human – slra 10% liquid) for the treatment of primary humoral immunodeficiency (PI); BIVIGAM® (immune globulin intravenous, human) for the treatment of PI; and NABI-HB® (hepatitis B immune globulin, human) to provide enhanced immunity against the hepatitis B virus.
In its own words, from its 8-K, filed Aug 5, 2026.
Adma Biologics against its Biological Products, (No Diagnostic Substances) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +11%. Operating margin: 48.0% against the peers' median 40.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| ADMA Adma Biologics | Q3 2026 | $141M | +5% | 48.0% |
| AMGN Amgen | Q3 2026 | $10.4B | +8% | 35.8% |
| GILD Gilead Sciences | Q3 2026 | $8.3B | +7% | 41.7% |
| BIIB Biogen | Q3 2026 | $2.8B | +11% | -0.3% |
| MRNA Moderna | Q3 2026 | $1.3B | +29% | 9.9% |
| NBIX Neurocrine Biosciences | Q3 2026 | $1.1B | +41% | 29.5% |
| EXEL Exelixis | Q3 2026 | $659M | +10% | 40.8% |
| HALO Halozyme Therapeutics | Q3 2026 | $493M | +39% | 59.8% |
| MGTX MeiraGTx Holdings | Q2 2026 | $321M | 87× | 76.0% |
Source: Adma Biologics 10-Q on SEC EDGAR · CIK 1368514 · Biological Products, (No Diagnostic Substances)
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More on ADMA
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results