Adma Biologics (ADMA) Q3 FY2026 earnings: revenue $141 million, up 5.1% on the year

Adma Biologics, Inc. (ADMA) reported revenue of $141 million for Q3 FY2026, the quarter ended 30 September 2026, up 5.1% on the same quarter a year earlier. Net income was $50 million, up 36.9% on the year, and diluted earnings per share $0.22. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$141 million

+5.1% on the year · +13.4% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

48.0%

38.0% a year earlier

Q4 FY2024Q3 FY2026

Net income

$50 million

+36.9% on the year · +31.9% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.22

+46.7% on the year · +37.5% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 narrowed, 3 kept.

Total revenue rose five percent: Total revenue was $141.1 million, up 5% from $134.2 million a year earlier and up 13% from $124.4 million in the second quarter. Nine-month revenue was $380.0 million, up 2%.
GAAP net income and EPS rose: GAAP net income was $49.9 million, against $36.4 million a year earlier. GAAP basic EPS was $0.22, against $0.15, and diluted EPS was $0.22.
ASCENIV revenue rose 31%: ASCENIV revenue was $124.7 million, up 31% from $95.4 million a year earlier and up 21% from the second quarter. Management attributed growth to physician adoption, new patient starts and end-user utilization.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	141	124	134	+13.4%	+5.1%
Cost of revenue	41.2	38.1	58.6	+8.0%	-29.7%
Gross profit	99.9	86.3	75.6	+15.8%	+32.1%
Gross margin	70.8%	69.4%	56.3%
Research and development	4.5	6.0	1.5	-25.3%	+193.8%
Selling, general and administrative	26.6	26.7	21.8	-0.7%	+21.9%
Operating income	67.8	52.4	51.0	+29.2%	+32.8%
Operating margin	48.0%	42.2%	38.0%
Interest expense	3.4	3.4	1.7	+0.2%	+104.9%
Pre-tax income	65.6	50.2	47.5	+30.6%	+38.1%
Income tax	15.7	12.4	11.1	+26.6%	+41.8%
Effective tax rate	24.0%	24.7%	23.3%
Net income	49.9	37.8	36.4	+31.9%	+36.9%
Net margin	35.4%	30.4%	27.1%
Diluted EPS	$0.22	$0.16	$0.15	+37.5%	+46.7%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	17.4	29.5	13.3	-41.2%	+30.7%
Capital expenditure	2.0	2.3	14.4	-11.3%	-86.1%
Free cash flow	15.4	27.3	-1.1	-43.7%
Free cash flow margin	10.9%	21.9%	-0.8%
Cash from investing	-2.1	-2.3	-14.4
Cash from financing	-26.8	-29.4	-27.8
Depreciation and amortisation	1.7	1.7	2.0	0.0%	-15.0%
Share-based compensation	6.2	6.1	5.0	+1.1%	+22.9%
Buybacks	25.1	25.1	23.0	+0.0%	+8.8%
Diluted shares, weighted	226m	230m	245m	-2.0%	-7.7%
Shares outstanding at period end	223m	225m	238m	-1.1%	-6.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	439	408	431	+7.4%	+1.7%
Debt	196	197	72.4	-0.4%	+170.4%
Operating lease liabilities	5.8	6.1	9.4	-5.0%	-38.6%
Other liabilities	92.4	73.3	55.7	+25.9%	+65.9%
Total liabilities and equity	732	684	569	+7.1%	+28.8%
Fixed assets	66.8	66.7	69.5	+0.1%	-4.0%
Goodwill	3.5	3.5	3.5	0.0%	0.0%
Intangible assets	0.6	0.6	0.5	+1.0%	+18.3%
Cash and equivalents	125	136	61.4	-8.4%	+102.9%
Receivables	169	138	138	+22.4%	+22.9%
Inventory	266	239	197	+11.2%	+35.3%
Other assets	102	99.9	99.4	+1.8%	+2.3%
Total assets	732	684	569	+7.1%	+28.8%

Questions

What was Adma Biologics' revenue in Q3 FY2026?

Adma Biologics (ADMA) reported revenue of $141 million for Q3 FY2026, the quarter ended 30 September 2026, up 5.1% on the same quarter a year earlier.

How much did Adma Biologics earn in Q3 FY2026?

Net income for Q3 FY2026 was $50 million, up 36.9% on the year, and diluted earnings per share $0.22.

When did Adma Biologics report Q3 FY2026 results?

Adma Biologics filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	26.4	29.1	33.9	41.1	50.0	56.9	60.1	67.3	73.9	81.9	107	120	118	115	122	134	139	114	124	141
Cost of revenue	22.9	25.4	26.1	31.4	35.8	40.4	43.4	42.6	42.8	42.8	49.7	60.2	54.2	53.7	54.8	58.6	50.3	33.7	38.1	41.2
Gross profit	3.5	3.7	7.8	9.7	14.2	16.5	16.7	24.7	31.1	39.1	57.5	59.7	63.3	61.1	67.2	75.6	88.8	80.8	86.3	99.9
Gross margin	13%	13%	23%	24%	28%	29%	28%	37%	42%	48%	54%	50%	54%	53%	55%	56%	64%	71%	69%	71%
R&D	0.7	0.6	0.9	1.0	1.1	0.9	1.4	0.6	0.4	0.5	0.6	0.4	0.4	0.8	1.0	1.5	1.4	2.6	6.0	4.5
SG&A	11.7	13.7	12.0	12.9	13.9	14.5	14.2	14.7	15.5	15.6	16.6	18.6	23.3	24.1	22.2	21.8	23.5	26.7	26.7	26.6
Operating income	-13.2	-14.8	-9.2	-9.3	-6.1	-0.8	-0.5	8.7	14.2	21.8	39.2	39.6	38.3	34.9	42.8	51.0	62.8	58.3	52.4	67.8
Operating margin	-50%	-51%	-27%	-23%	-12%	-1%	-1%	13%	19%	27%	37%	33%	33%	30%	35%	38%	45%	51%	42%	48%
Interest expense	3.3	3.4	4.6	5.6	5.7	6.1	6.3	6.4	6.2	3.8	3.8	3.5	2.9	2.0	1.8	1.7	1.6	2.1	3.4	3.4
Pre-tax income	n/a	n/a	n/a	n/a	n/a	-6.8	-6.4	2.6	-17.6	18.4	35.9	36.7	34.7	33.5	40.1	47.5	61.6	57.1	50.2	65.6
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0%	n/a	3%	11%	2%	-222%	20%	15%	23%	20%	21%	25%	24%
Net income	-16.6	-25.0	-13.8	-14.9	-12.2	-6.8	-6.4	2.6	-17.6	17.8	32.1	35.9	112	26.9	34.2	36.4	49.4	45.3	37.8	49.9
Net margin	-63%	-86%	-41%	-36%	-24%	-12%	-11%	4%	-24%	22%	30%	30%	95%	23%	28%	27%	35%	40%	30%	35%
Diluted EPS	-$0.07	-$0.13	-$0.07	-$0.08	-$0.06	-$0.03	-$0.03	$0.01	-$0.08	$0.08	$0.13	$0.15	$0.46	$0.11	$0.14	$0.15	$0.20	$0.19	$0.16	$0.22
Operating cash flow	-33.5	-26.0	-12.8	-13.3	-7.4	-14.7	-6.1	12.0	17.6	-2.2	45.6	25.0	50.2	-19.7	21.1	13.3	35.6	58.2	29.5	17.4
Capital expenditure	3.7	2.8	3.9	3.4	3.7	1.9	0.9	0.8	1.2	2.3	2.1	1.1	2.8	4.7	2.4	14.4	1.1	2.5	2.3	2.0
Free cash flow	-37.1	-28.9	-16.8	-16.7	-11.1	-16.7	-6.9	11.2	16.4	-4.6	43.6	24.0	47.5	-24.4	18.7	-1.1	34.6	55.7	27.3	15.4
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	23.0	8.9	130	25.1	25.1
Shares outstanding	196m	196m	196m	197m	222m	222m	225m	226m	226m	232m	233m	236m	237m	239m	239m	238m	238m	232m	225m	223m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.