ADMA is profitable and ASCENIV is still growing, but Q1 2026 reset the story: standard IG pricing pressure, distributor timing, BIVIGAM weakness, and long-term guidance withdrawal turned 2026 into a proof year.
References
Sources used in this report
SEC APISEC submissions JSON2026-05-14 · Issuer identity, ticker, exchange, CIK, SIC, filer status, fiscal year end, and filing recency.SEC APISEC companyfacts JSON2026-05-14 · XBRL cross-check for revenue, income, assets, debt, equity, cash, operating cash flow, capex, and expense data.SEC filingFY2025 Form 10-K2026-02-25 · Business model, products, FDA approvals, manufacturing, plasma supply, competition, risks, annual financials, customer concentration, and revenue mix.SEC filingQ1 2026 Form 10-Q2026-05-06 · Latest financials, cash, debt, share count, customer concentration, inventories, operating cash flow, repurchases, and credit facility.Company release furnished to SECQ1 2026 earnings release2026-05-06 · Q1 revenue, ASCENIV/BIVIGAM split, gross margin, adjusted net income, adjusted EBITDA, updated guidance, long-term guidance withdrawal, and market commentary.Company release furnished to SECFY2025 earnings release2026-02-25 · FY2025 performance, ASCENIV growth, prior long-term guidance, yield-enhanced production, plasma supply, and SG-001 commentary.Company release furnished to SECASCENIV pediatric label expansion release2026-05-04 · FDA approval expanding ASCENIV's PI indication to pediatric patients two years of age and older.SEC governance filing2026 definitive proxy statement2026-04-15 · Governance, executive compensation, board oversight, ownership, and annual meeting context.Company release furnished to SECCompany response to short-seller allegations2026-03-27 · ADMA's official position on ASCENIV demand, distributor inventory levels, channel-stuffing allegations, audit opinions, and related-party allegations.