Annual report pursuant to Section 13 and 15(d)

SEGMENTS

v3.21.1
SEGMENTS
12 Months Ended
Dec. 31, 2020
SEGMENTS  
14. SEGMENTS

14. SEGMENTS

 

The Company is engaged in the manufacture, marketing and development of specialty plasma-derived biologics. The Company’s ADMA BioManufacturing segment reflects the Company’s immune globulin manufacturing and development operations in Florida, acquired on June 6, 2017. The Plasma Collection Centers segment consists of three plasma collection facilities, two of which hold an approved license with the FDA (and of which one facility has received approvals from the Korean Ministry of Food and Drug Safety as well as FDA approval to implement a Hepatitis B immunization program) and a third for which FDA approval is pending as of December 31, 2020, and one FDA-licensed source plasma collection facility for the year ended December 31, 2019. The Corporate segment includes general and administrative overhead expenses. The Company defines its segments as those business units whose operating results are regularly reviewed by the chief operating decision maker (“CODM”) to analyze performance and allocate resources. The Company’s CODM is its President and Chief Executive Officer. Summarized financial information concerning reportable segments is shown in the following tables:

   

Year Ended December 31, 2020

 

 

ADMA BioManufacturing

 

 

Plasma Collection Centers

 

 

Corporate

 

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$ 36,673,287

 

 

$ 5,403,662

 

 

$ 142,834

 

 

$ 42,219,783

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of product revenue

 

 

55,908,696

 

 

 

5,382,730

 

 

 

-

 

 

 

61,291,426

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

 

(46,904,634 )

 

 

(4,410,890 )

 

 

(13,599,353 )

 

 

(64,914,877 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and other expense, net

 

 

(984,017 )

 

 

(7,388 )

 

 

(10,834,063 )

 

 

(11,825,468 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain on extinguishment of debt

 

 

-

 

 

 

-

 

 

 

991,797

 

 

 

991,797

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

 

(47,888,651 )

 

 

(4,418,278 )

 

 

(23,441,619 )

 

 

(75,748,548 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

7,579,437

 

 

 

5,147,243

 

 

 

-

 

 

 

12,726,680

 

Depreciation and amortization expense

 

 

3,341,506

 

 

 

591,593

 

 

 

9,193

 

 

 

3,942,292

 

Total assets

 

 

140,908,957

 

 

 

13,102,008

 

 

 

53,662,429

 

 

 

207,673,394

 

 

Year Ended December 31, 2019

 

 

ADMA BioManufacturing

 

 

Plasma Collection Centers

 

 

Corporate

 

 

Consolidated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$ 22,176,699

 

 

$ 7,029,550

 

 

$ 142,834

 

 

$ 29,349,083

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of product revenue

 

 

33,306,858

 

 

 

6,197,380

 

 

 

-

 

 

 

39,504,238

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

 

(29,360,522 )

 

 

(1,337,459 )

 

 

(10,726,346 )

 

 

(41,424,327 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and other expense, net

 

 

(1,091,993 )

 

 

13,521

 

 

 

(7,341,444 )

 

 

(8,419,916 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain on transfer of plasma center assets

 

 

-

 

 

 

11,527,421

 

 

 

-

 

 

 

11,527,421

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss on extinguishment of debt

 

 

-

 

 

 

-

 

 

 

(9,962,495 )

 

 

(9,962,495 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

 

(30,452,515 )

 

 

10,203,483

 

 

 

(28,030,285 )

 

 

(48,279,317 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

3,772,742

 

 

 

39,096

 

 

 

-

 

 

 

3,811,838

 

Depreciation and amortization expense

 

 

2,789,498

 

 

 

455,412

 

 

 

13,238

 

 

 

3,258,148

 

Total assets

 

 

100,461,050

 

 

 

3,967,860

 

 

 

22,661,815

 

 

 

127,090,725