Filing Flows › Adma Biologics (ADMA) › Q2 2026 › vs Q2 2025
Adma Biologics (ADMA) Q2 2026 vs Q2 2025 (year over year)
Adma Biologics's revenue rose $2.4M (+2%) from $122M in Q2 2025 to $124M in Q2 2026. The biggest changes: ADMABio Manufacturing Segment +$1.7M (+1%); Plasma Collection Centers Segment +$723K (—). Gross margin 69.4% against 55.1% (+14.2 pts).
Adma Biologics, Q2 2026: revenue $124M (+2% year over year), operating margin 42.2%, net earnings $37.8M, operating cash flow $29.5M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 69.4% | 55.1% | +14.2 pts |
| Operating margin | 42.2% | 35.1% | +7.1 pts |
| Net margin | 30.4% | 28.1% | +2.4 pts |
| Free cash flow margin | 21.9% | 15.3% | +6.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| ADMABio Manufacturing Segment | $124M | $122M | $1.7M | +1% |
| Plasma Collection Centers Segment | $723K | $0 | $723K | — |
| Revenue | $124M | $122M | $2.4M | +2% |
| Gross profit | $86.3M | $67.2M | $19.1M | +28% |
| Cost of revenue | $38.1M | $54.8M | −$16.6M | -30% |
| Operating profit | $52.4M | $42.8M | $9.6M | +23% |
| Operating expenses | $33.8M | $24.4M | $9.4M | +38% |
| Pre-tax earnings | $50.2M | $40.1M | $10.1M | +25% |
| Other expense, net | $2.2M | $2.7M | −$493K | -18% |
| Research & development | $6.0M | $1.0M | $5.0M | +483% |
| SG&A | $26.7M | $22.2M | $4.5M | +20% |
| Other operating costs | $1.1M | $1.2M | −$103K | -9% |
| Net earnings | $37.8M | $34.2M | $3.6M | +11% |
| Income tax | $12.4M | $5.9M | $6.5M | +111% |
| Depreciation & amortization | $1.7M | $2.0M | −$300K | -15% |
| Share-based compensation | $6.1M | $5.0M | $1.2M | +24% |
| Working capital & other | $16.1M | $20.0M | −$3.9M | -20% |
| Operating cash flow | $29.5M | $21.1M | $8.4M | +40% |
| Free cash flow (OCF − capex) | $27.3M | $18.7M | $8.6M | +46% |
| Capital expenditures | $2.3M | $2.4M | −$166K | -7% |
Questions
How much did Adma Biologics's revenue grow year over year in Q2 2026?
Adma Biologics's revenue rose $2.4M (+2%) from $122M in Q2 2025 to $124M in Q2 2026.
What drove Adma Biologics's revenue change in Q2 2026?
ADMABio Manufacturing Segment +$1.7M (+1%); Plasma Collection Centers Segment +$723K (—).