GET DAILY SIGNALSADMA Biologics (ADMA) Shows Steady Progress in Q3 on ASCENIV Strength
Key Takeaways
- ADMA Biologics reported total revenue of $141.1 million for the third quarter of 2026, up 5% year-over-year and 13% sequentially.
- Adjusted earnings per share (EPS, or net profit divided by shares outstanding) came in at $0.23, beating the consensus estimate of $0.20 by $0.03.
- Flagship product ASCENIV drove the quarter with revenue of $124.7 million, up 31% year-over-year and 21% sequentially.
- Gross margin expanded sharply to 71%, up from 56% a year ago, reflecting a favorable product mix and manufacturing yield improvements.
- Management raised its full-year 2026 adjusted net income and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) guidance to at least $180 million and $275 million, respectively.
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Why This Quarter Matters
ADMA Biologics, a specialty plasma-derived therapeutics company, has become a closely watched earnings story as its flagship immune globulin product, ASCENIV, has steadily gained physician adoption. This third quarter report matters because it tests whether the company can sustain its profitability trajectory while navigating a competitive standard immune globulin (IG) market that has pressured its legacy BIVIGAM product. For investors, the key question is whether accelerating ASCENIV demand and expanding gross margins can offset BIVIGAM headwinds and continue translating into earnings growth. With the stock trading well below its 52-week highs, the print also carried outsized weight as a signal on the durability of ADMA's commercial momentum and margin expansion.
Breaking Down the Reported Results
For the third quarter ended September 30, 2026, ADMA Biologics reported total revenue of $141.1 million, a 5% increase from $134.2 million a year earlier and a 13% sequential gain from $124.4 million. Revenue topped the consensus estimate of roughly $138.1 million.
ASCENIV, the company's immune globulin therapy for primary immunodeficiency, generated $124.7 million in revenue, up 31% year-over-year and 21% sequentially. In contrast, BIVIGAM revenue fell to $15.4 million from $23.8 million in the prior-year quarter, reflecting ongoing competitive and inventory pressures in the standard IG market.
Gross profit rose to $99.9 million, with gross margin expanding to 71% from 56% a year ago. GAAP (Generally Accepted Accounting Principles) net income reached $49.9 million, up 37% year-over-year, with GAAP basic EPS of $0.22 versus $0.15 a year earlier. Adjusted EPS of $0.23 beat the $0.20 consensus by $0.03, while adjusted EBITDA climbed 32% year-over-year to $77.3 million.
Management also raised its full-year 2026 outlook, now guiding to at least $180 million in adjusted net income and at least $275 million in adjusted EBITDA, while maintaining its minimum revenue target of $530 million.
Market Reaction and Investor Sentiment
ADMA entered the report with cautious sentiment, having missed revenue estimates in the prior quarter and trading down roughly 32% over the trailing 12 months. The third quarter beat on both the top and bottom lines, driven by ASCENIV's 31% growth and a raised full-year profit outlook, provided a positive counterpoint. Adjusted EPS of $0.23 against a $0.20 consensus and the upward revision to adjusted net income and EBITDA guidance were the primary drivers of the market's interpretation. Investors appeared to weigh the strength of ASCENIV momentum and margin expansion against lingering BIVIGAM weakness and elevated inventory and debt levels on the balance sheet. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Forward Outlook and Key Factors to Monitor
Looking ahead, the central question is whether ASCENIV can sustain its double-digit growth trajectory. Management indicated that favorable demand trends have continued into the fourth quarter, supported by expanding physician adoption and new patient starts. Upcoming clinical data, including an analysis of real-world outcomes in primary immunodeficiency patients scheduled for presentation at a major allergy and immunology conference, could further reinforce ASCENIV's differentiation.
At the same time, investors should monitor the standard IG market closely. Persistent competitive pricing and distribution channel inventory pressures have weighed on BIVIGAM, and any further deterioration would partially offset ASCENIV's gains. Margin durability will depend on product mix and continued benefits from the company's yield-enhanced manufacturing process.
Other factors to watch include SG-001, the company's pneumococcal hyperimmune globulin development candidate, and the trajectory of research and development spending, as well as balance sheet trends such as inventory, accounts receivable, and long-term debt. The company's share repurchase activity also remains a consideration for per-share results. As always, upcoming quarterly results will be evaluated against the company's own guidance and consensus expectations.
AI Tools in My Research Process
I often turn to Tickeron's AI Screener when evaluating earnings reports like this one. It lets me quickly filter stocks by fundamentals, technical patterns, and performance metrics, which helps put a company's results in broader context without spending hours on manual comparisons. The tool has become a regular part of how I screen for ideas and confirm trends in sectors like biotech.
Disclaimer
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
Aroon Indicator for ADMA shows an upward move is likely
ADMA's Aroon Indicator triggered a bullish signal on November 03, 2026. Tickeron's A.I.dvisor detected that the AroonUp green line is above 70 while the AroonDown red line is below 30. When the up indicator moves above 70 and the down indicator remains below 30, it is a sign that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy calls options. A.I.dvisor looked at 254 similar instances where the Aroon Indicator showed a similar pattern. In 210 of the 254 cases, the stock moved higher in the days that followed. This puts the odds of a move higher at 83%.
Technical Analysis (Indicators)
Bullish Trend Analysis
Following a +5.19% 3-day Advance, the price is estimated to grow further. Considering data from situations where ADMA advanced for three days, in 245 of 297 cases, the price rose further within the following month. The odds of a continued upward trend are 82%.
Bearish Trend Analysis
The 10-day RSI Indicator for ADMA moved out of overbought territory on October 30, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 38 similar instances where the indicator moved out of overbought territory. In 30 of the 38 cases, the stock moved lower in the following days. This puts the odds of a move lower at 79%.
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 47 of 65 cases where ADMA's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 72%.
The Momentum Indicator moved below the 0 level on November 02, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on ADMA as a result. In 72 of 87 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 83%.
The Moving Average Convergence Divergence Histogram (MACD) for ADMA turned negative on November 03, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 49 similar instances when the indicator turned negative. In 38 of the 49 cases the stock turned lower in the days that followed. This puts the odds of success at 78%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ADMA declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 74%.
ADMA broke above its upper Bollinger Band on October 29, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Seasonality Score of 9 (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron SMR rating for this company is 25 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 42 (best 1 - 100 worst), indicating steady price growth. ADMA’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 60 (best 1 - 100 worst), pointing to average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 62 (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 93, placing this stock slightly better than average.
The Tickeron Valuation Rating of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (6.096) is normal, around the industry mean (3.051). P/E Ratio (15.431) is within average values for comparable stocks, (-0.872). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (9.059). Dividend Yield (0.000) settles around the average of (125.677) among similar stocks. P/S Ratio (4.170) is also within normal values, averaging (439.647).
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General Information
an operator of a specialty immune globulin, development and commercialization of human plasma and plasma-derived therapeutics
Industry Biotechnology
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