Filing Flows › Adma Biologics (ADMA) › Q3 2025
Adma Biologics (ADMA) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Adma Biologics (ADMA) reported revenue of $134M for the third quarter 2025 (Q3 2025), +12% from a year earlier and +10% from the quarter before. Operating margin was 38.0%, net earnings $36.4M (27.1% of revenue).
Adma Biologics, Q3 2025: revenue $134M (+12% year over year), operating margin 38.0%, net earnings $36.4M, operating cash flow $13.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $134M | +10% | +12% |
| Gross profit | $75.6M | +12% | +27% |
| Operating profit | $51.0M | +19% | +29% |
| Net earnings | $36.4M | +6% | +1% |
| Operating cash flow | $13.3M | -37% | -47% |
What changed
Revenue was $134.2M in Q3 2025, up 12% year over year and up 10% from the previous quarter.
Gross margin was 56.3%, up 6.6 points from a year earlier. Operating profit was $51.0M, a 38.0% margin (up 4.9 points year over year). Of the extra revenue versus a year earlier, 79% reached operating profit, above the 33% margin then. Operating expenses grew 23% against revenue growth of 12%. The fastest-growing cost line was Research & development (+271%). Net earnings were $36.4M, up 1% year over year. The effective tax rate was 23.3%.
Operating cash flow was $13.3M (down 47% year over year), 36% of net earnings. Non-cash charges added back $2.0M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items used $30.2M. Capital expenditures of $14.4M exceeded it, leaving free cash flow of −$1.1M.
Questions
What was Adma Biologics' revenue in the third quarter 2025?
Adma Biologics (ADMA) reported revenue of $134M for the third quarter 2025 (Q3 2025), +12% from a year earlier and +10% from the quarter before.
Was Adma Biologics profitable in the third quarter 2025?
Operating profit was $51.0M (38.0% of revenue) and net earnings $36.4M.
Source: Adma Biologics 10-Q on SEC EDGAR.