Filing Flows › Adma Biologics (ADMA) › Q4 2025
Adma Biologics (ADMA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Adma Biologics (ADMA) reported revenue of $139M for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and +4% from the quarter before. Operating margin was 45.1%, net earnings $49.4M (35.5% of revenue).
Adma Biologics, Q4 2025: revenue $139M (+18% year over year), operating margin 45.1%, net earnings $49.4M, operating cash flow $35.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $139M | +4% | +18% |
| Gross profit | $88.8M | +17% | +40% |
| Operating profit | $62.8M | +23% | +64% |
| Net earnings | $49.4M | +36% | -56% |
| Operating cash flow | $35.6M | +168% | -29% |
| Free cash flow | $34.6M | — | -27% |
What changed
Revenue was $139.2M in Q4 2025, up 18% year over year and up 4% from the previous quarter.
Gross margin was 63.8%, up 9.9 points from a year earlier. Operating profit was $62.8M, a 45.1% margin (up 12.5 points year over year). Of the extra revenue versus a year earlier, 113% reached operating profit, above the 33% margin then. Operating expenses grew 4% against revenue growth of 18%. The fastest-growing cost line was Research & development (+252%). Net earnings were $49.4M, down 56% year over year. The effective tax rate was 19.8%.
Operating cash flow was $35.6M (down 29% year over year), 72% of net earnings. Non-cash charges added back $2.0M of depreciation and amortization and $5.4M of share-based compensation. Working capital and other items used $21.1M. Capital expenditures of $1.1M left free cash flow of $34.6M.
Questions
What was Adma Biologics' revenue in the fourth quarter 2025?
Adma Biologics (ADMA) reported revenue of $139M for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and +4% from the quarter before.
Was Adma Biologics profitable in the fourth quarter 2025?
Operating profit was $62.8M (45.1% of revenue) and net earnings $49.4M.
Source: Adma Biologics 10-K on SEC EDGAR.