SEGMENTS

3 Months Ended

Mar. 31, 2025

SEGMENTS [Abstract]

SEGMENTS

10.

SEGMENTS

The Company is engaged in the manufacture, marketing and development of specialty plasma-derived biologics. The Company’s ADMA BioManufacturing operating segment reflects the Company’s immunoglobulin manufacturing, commercial and development operations in Boca Raton, FL.  The Plasma Collection Centers operating segment consists of ten plasma collection facilities located throughout the United States, all of which are operational, collecting plasma and currently hold FDA licenses. The Company defines its operating segments as those business units whose operating results are regularly reviewed by the chief operating decision maker (“CODM”) to analyze performance and allocate resources. While not considered an operating segment, the Corporate information included in the tables below consists of certain unallocated general and administrative overhead expenses and interest expense on the Company’s senior debt (see Note 7). The Company’s CODM is its President and Chief Executive Officer. For the Company’s two operating segments, the CODM uses income/loss before taxes as the measure of segment profit to determine the allocation of resources for each segment. Summarized financial information concerning reportable segments is shown in the following tables:

Three Months Ended March 31, 2025
(in thousands)		ADMA BioManufacturing			Plasma Collection Centers			Total
Revenues	$	113,716		$	1,050		$	114,766
Cost of product revenue		53,057			648			53,705
Research and development		826			-			826
Plasma center operating expenses		-			1,286			1,286
Selling, marketing and distribution		6,044			-			6,044
Depreciation and amortization expense		25			-			25
General and administrative expense		8,495			-			8,495
Other expense, net		(64	)		-			(64	)
Income (loss) before taxes		45,205			(884	)		44,321
Expenditures for additions to long-lived assets		4,699			21			4,720
Total assets		330,091			27,644			357,735
Reconciliation of revenues:
Segment revenue							$	114,766
License revenue								36
Consolidated revenues							$	114,802
Reconciliation of selling, general and administrative expense:
Segment selling, marketing and distribution expense							$	6,044
Segment general and administrative expense								8,495
Corporate general and administrative expense (a)								9,540
Consolidated selling, general and administrative expense							$	24,079
Reconciliation of income (loss) before taxes:
Segment income before taxes							$	44,321
License revenue								36
Unallocated interest expense, primarily related to interest on senior debt (see Note 6)								(1,975	)
Unallocated interest income								608
Corporate general and administrative expense (a)								(9,540	)
Consolidated income before taxes							$	33,450
Reconciliation of total assets:
Total segment assets							$	357,735
Corporate (b)								152,834
Consolidated total assets							$	510,569

(a) -

Primarily includes compensation expense, including stock-based compensation expense, for certain executive officers and consultants, insurance, legal and investor relations expenses and accounting and tax fees that are not allocated to the Company's operating segments.

(b) -

Primarily consists of cash and deferred tax assets.

Three Months Ended March 31, 2024
(in thousands)		ADMA BioManufacturing			Plasma Collection Centers			Total
Revenues	$	80,113		$	1,726		$	81,839
Cost of product revenue		40,991			1,776			42,767
Research and development		451			-			451
Plasma center operating expenses		-			1,005			1,005
Selling, marketing and distribution		4,431			-			4,431
Depreciation and amortization expense		193			-			193
General and administrative expense		5,351			-			5,351
Other expense, net		(30	)		(1	)		(31	)
Income (loss) before taxes		28,666			(1,056	)		27,610
Expenditures for additions to long-lived assets		2,330			17			2,347
Total assets		278,331			33,990			312,321
Reconciliation of revenues:
Segment revenue							$	81,839
License revenue								36
Consolidated revenues							$	81,875
Reconciliation of selling, general and administrative expense:
Segment selling, marketing and distribution expense							$	4,431
Segment general and administrative expense								5,351
Corporate general and administrative expense (a)								5,857
Consolidated selling, general and administrative expense							$	15,639
Reconciliation of income (loss) before taxes:
Segment income before taxes							$	27,610
License revenue								36
Unallocated interest expense, primarily related to interest on senior debt (see Note 6)								(3,769	)
Unallocated interest income								381
Corporate general and administrative expense (a)								(5,857	)
Consolidated income before taxes							$	18,401
Reconciliation of total assets:
Total segment assets							$	312,321
Corporate (b)								38,554
Consolidated total assets							$	350,875

(a) -

Primarily includes compensation expense, including stock-based compensation expense, for certain executive officers and consultants, insurance, legal and investor relations expenses and accounting and tax fees that are not allocated to the Company's operating segments.

(b) -

Primarily consists of cash and deferred tax assets.

Net revenues according to geographic area, based on the location of where the product is shipped, were as follows:

	Three  Months Ended March 31, 2025
		ADMA BioManufacturing		Plasma Centers		Total Segment Revenue		License Revenue		Consolidated Revenue
United States	$	110,609	$	85	$	110,694	$	36	$	110,730
International		3,107		965		4,072		-		4,072
Total revenues	$	113,716	$	1,050	$	114,766	$	36	$	114,802

	Three  Months Ended March 31, 2024
		ADMA BioManufacturing		Plasma Centers		Total Segment Revenue		License Revenue		Consolidated Revenue
United States	$	76,460	$	1,495	$	77,955	$	36	$	77,991
International		3,653		231		3,884		-		3,884
Total revenues	$	80,113	$	1,726	$	81,839	$	36	$	81,875