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Midas Edge

ADMA BIOLOGICS INC

For the period ended Sep 30, 2024. Filed Nov 7, 2024.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 7, 2024

ADMA$12.73-3.6%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Item 1. Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023

BALANCE SHEETS

September 30,December 31,
20242023
(Unaudited)
(In thousands, except share data)
ASSETS
Current assets:
Cash and cash equivalents$86,707$51,352
Accounts receivable, net50,14027,421
Inventories171,801172,906
Prepaid expenses and other current assets9,5455,334
Total current assets318,193257,013
Property and equipment, net53,69453,835
Intangible assets, net485499
Goodwill3,5303,530
Right-to-use assets8,8979,635
Deposits and other assets5,8194,670
TOTAL ASSETS$390,618$329,182
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$16,020$15,660
Accrued expenses and other current liabilities27,53532,919
Current portion of deferred revenue143182
Current portion of lease obligations1,1931,045
Total current liabilities44,89149,806
Senior notes payable, net of discount101,326130,594
Deferred revenue, net of current portion1,5831,690
End of term fee1,6881,688
Lease obligations, net of current portion8,8659,779
Other non-current liabilities375419
TOTAL LIABILITIES158,728193,976
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY
Preferred Stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding--
Common Stock - voting, $0.0001 par value, 300,000,000 shares authorized, 236,378,607 and 226,063,032 shares issued and outstanding at September 30, 2024 and December 31, 20232423
Additional paid-in capital652,345641,439
Accumulated deficit(420,479)(506,256)
TOTAL STOCKHOLDERS’ EQUITY231,890135,206
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY$390,618$329,182

Index

CONDENSED CONSOLIDATEDSTATEMENTS OFOPERATIONS

(Unaudited)

Three Months ended September 30,Nine Months ended September 30,
2024202320242023
(In thousands, except share and per share data)
REVENUES$119,839$67,275$308,905$184,311
Cost of product revenue60,18042,622152,685126,455
Gross profit59,65924,653156,22057,856
OPERATING EXPENSES:
Research and development4125961,4222,854
Plasma center operating expenses1,0214672,9683,581
Amortization of intangible assets28179363537
Selling, general and administrative18,56014,72650,80743,485
Total operating expenses20,02115,96855,56050,457
INCOME FROM OPERATIONS39,6388,685100,6607,399
OTHER INCOME (EXPENSE):
Interest income6664231,4991,005
Interest expense(3,499)(6,398)(11,051)(18,812)
Other expense(56)(145)(107)(186)
Other expense, net(2,889)(6,120)(9,659)(17,993)
INCOME (LOSS) BEFORE INCOME TAXES36,7492,56591,001(10,594)
Provision for income taxes840-5,224-
NET INCOME (LOSS)$35,909$2,565$85,777$(10,594)
BASIC EARNINGS (LOSS) PER COMMON SHARE$0.15$0.01$0.37$(0.05)
DILUTED EARNINGS (LOSS) PER COMMON SHARE$0.15$0.01$0.35$(0.05)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic234,571,376225,276,980231,959,579223,306,331
Diluted244,804,065233,761,262241,772,162223,306,331

Index

CONDENSED CONSOLIDATEDSTATEMENTS OF CHANGES IN

STOCKHOLDERS’ EQUITY (Unaudited)

(In thousands, except share data)

For the Three and Nine Months Ended September 30, 2024

Additional · Total
Common Stock · Paid-in · Accumulated · Stockholders’
SharesAmountCapitalDeficitEquity
Balance at December 31, 2023226,063,032$23$641,439$(506,256)$135,206
Stock-based compensation--2,141-2,141
Cashless exercise of warrants4,545,503----
Vesting of Restricted Stock Units, net of shares withheld for taxes774,889-(2,476)-(2,476)
Exercise of stock options386,341-1,029-1,029
Net income---17,80617,806
Balance at March 31, 2024231,769,76523642,133(488,450)153,706
Stock-based compensation--2,863-2,863
Cashless exercise of warrants937,507----
Vesting of Restricted Stock Units, net of shares withheld for taxes171,408-(693)-(693)
Exercise of stock options148,056-331-331
Net income---32,06232,062
Balance at June 30, 2024233,026,73623644,634(456,388)188,269
Stock-based compensation--3,179-3,179
Cashless exercise of warrants1,741,8821(1)--
Vesting of Restricted Stock Units, net of shares withheld for taxes250,107-(1,158)-(1,158)
Exercise of stock options1,359,882-5,691-5,691
Net income---35,90935,909
Balance at September 30, 2024236,378,607$24$652,345$(420,479)$231,890

Index

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN

STOCKHOLDERS’ EQUITY (Unaudited)

(In thousands, except share data)

For the Three and Nine Months Ended September 30, 2023

Additional · Total
Common Stock · Paid-in · Accumulated · Stockholders’
SharesAmountCapitalDeficitEquity
Balance at December 31, 2022221,816,930$22$629,969$(478,017)$151,974
Stock-based compensation--1,110-1,110
Vesting of Restricted Stock Units, net of shares withheld for taxes443,215-(640)-(640)
Exercise of stock options2,443----
Net loss---(6,789)(6,789)
Balance at March 31, 2023222,262,58822630,439(484,806)145,655
Stock-based compensation--1,637-1,637
Vesting of Restricted Stock Units, net of shares withheld for taxes117,484-(225)-(225)
Warrants issued in connection with note payable--5,594-5,594
Cashless exercise of warrants1,967,847----
Exercise of stock options178,829-472-472
Net loss---(6,371)(6,371)
Balance at June 30, 2023224,526,74822637,917(491,177)146,762
Stock-based compensation--1,695-1,695
Vesting of Restricted Stock Units, net of shares withheld for taxes171,295-(209)-(209)
Exercise of stock options1,260,0411623624
Net income---2,5652,565
Balance at September 30, 2023225,958,084$23$640,026$(488,612)$151,437

Index

CONDENSED CONSOLIDATED STATEMENTS OF

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.