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# ADMA Raises Its Profit Floor As ASCENIV Sales Climb 31% And BIVIGAM Revenue Drops To $15.4 Million
- URL: https://www.bullished.co/adma-raises-its-profit-floor-as-asceniv-sales-climb-31-and-bivigam-revenue-drops-to-15-4-5e3b1c54/
- Published: 2026-11-04T22:53:46.000Z
- Updated: 2026-11-04T22:53:46.000Z
- Description: The plasma-drug maker held its revenue outlook but lifted minimum 2026 adjusted profit targets after gross margin reached 71%.
- Author: Matteo Parrino
- Tags: SEC Filings, ADMA, Industry: Healthcare

[ADMA Biologics](https://www.bullished.co/tag/adma/), which makes plasma-derived medicines for people with weakened immune systems, [reported third-quarter ASCENIV sales of $124.7 million](https://www.sec.gov/Archives/edgar/data/0001368514/000114036126041959/ef20084542%5Fex99-1.htm?ref=bullished.co), up 31% from a year earlier, and raised its minimum 2026 profit targets while holding its revenue forecast. The company said the results were released Wednesday.

## Margin jumps as the mix shifts

Net income under standard accounting was [$49.9 million](https://www.globenewswire.com/news-release/2026/11/04/3395815/0/en/adma-biologics-reports-third-quarter-2026-financial-results-and-provides-business-update.html?ref=bullished.co), up 37% from a year earlier, or $0.22 per basic share. Total revenue rose 5% to $141.1 million, from $134.2 million a year earlier and $124.4 million in the second quarter.

Gross margin reached 71%, against 56% in the third quarter of 2025 and 69% in the second quarter. The company credited a favorable ASCENIV mix and its yield-enhanced manufacturing process. Adjusted EBITDA, the company's adjusted measure of operating earnings, rose 32% to [$77.3 million](https://www.globenewswire.com/news-release/2026/11/04/3395815/0/en/adma-biologics-reports-third-quarter-2026-financial-results-and-provides-business-update.html?ref=bullished.co).

BIVIGAM, the company's other intravenous immune globulin, went the other way: revenue was $15.4 million, down from $23.8 million a year earlier and $19.4 million in the second quarter. The company blamed competitive pricing and channel inventory pressure, and said it prefers disciplined participation to matching rivals' rebating and discounting. For nine months, BIVIGAM revenue was $50.2 million against $95.0 million, while ASCENIV reached $325.1 million, up 27%.

## A higher floor for 2026

ADMA now expects 2026 adjusted net income of [at least $180 million](https://seekingalpha.com/news/4665641-adma-biologics-gaap-eps-of-022-beats-by-002-revenue-of-1411m-beats-by-298m?ref=bullished.co) and adjusted EBITDA of at least $275 million. It reiterated revenue of at least $530 million.

CEO Adam Grossman said favorable demand trends carried into the fourth quarter and that he was "encouraged by signs of stabilization in underlying BIVIGAM utilization."

The company also repurchased 2.7 million shares in the quarter. Buybacks totaled 16.5 million shares through September 30, equal to 6.3% of shares outstanding at the end of 2025, and ADMA said it is on track for its $200 million or more repurchase target this year.

## ASCENIV data and a pneumonia candidate

In mid-November, ADMA plans to present an analysis of 127 medically complex primary immunodeficiency patients treated with ASCENIV at the American College of Allergy, Asthma and Immunology conference. It found statistically significant reductions in infection-related hospitalizations and in antibiotic and corticosteroid use, comparing 12 months before treatment with 12 months after.

The company also said the FDA gave constructive feedback on its pre-IND package for SG-001, a preclinical pneumococcal candidate. ADMA intends to fold the recommendations into its clinical protocol and prepare an IND submission. It believes the drug could be a $300-500 million annual revenue opportunity if approved.

ADMA's investor call was set for Wednesday at 4:30 p.m. ET, with the ASCENIV outcomes analysis due at the ACAAI conference in mid-November.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — ADMA BIOLOGICS, INC. (ADMA)](https://www.sec.gov/Archives/edgar/data/0001368514/000114036126041959/ef20084542%5F8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit ef20084542\_ex99-1.htm — ADMA BIOLOGICS, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001368514/000114036126041959/ef20084542%5Fex99-1.htm?ref=bullished.co) — SEC EDGAR
- [ADMA Biologics GAAP EPS of $0.22 beats by $0.02, revenue of $141.1M beats by $2.98M | Seeking Alpha](https://seekingalpha.com/news/4665641-adma-biologics-gaap-eps-of-022-beats-by-002-revenue-of-1411m-beats-by-298m?ref=bullished.co) — seekingalpha.com
- [ADMA Biologics Reports Third Quarter 2026 Financial Results](https://www.globenewswire.com/news-release/2026/11/04/3395815/0/en/adma-biologics-reports-third-quarter-2026-financial-results-and-provides-business-update.html?ref=bullished.co) — globenewswire.com

### More on ADMA Biologics

- [ADMA's Ascenev Is Up 31%, But CEO Says Secondary Immune Deficiency Growth Is 'Slower' Than Hoped](https://www.bullished.co/admas-ascenev-is-up-31-but-ceo-says-secondary-immune-deficiency-growth-is-slower-than-390d84a5/)
- [ADMA's Profit Jumps On One Drug While A $125 Million Revolver Draw Funds Buybacks](https://www.bullished.co/admas-profit-jumps-on-one-drug-while-a-125-million-revolver-draw-funds-buybacks-01662f45/)

[All ADMA Biologics (ADMA) coverage →](https://www.bullished.co/tag/adma/)