Annual report pursuant to Section 13 and 15(d)

SEGMENTS

v3.22.1
SEGMENTS
12 Months Ended
Dec. 31, 2021
SEGMENTS [Abstract]  
SEGMENTS

13.

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 ten plasma collection facilities in various stages of development as of December 31, 2021, six of which are operational and collecting plasma, and five 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). 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, 2021

 

 

 

ADMA

BioManufacturing

   

Plasma Collection

Centers

   

Corporate

   

Consolidated

 

 

                       

Revenues

  $ 74,935,528     $ 5,864,263     $ 142,834     $ 80,942,625  

 

                               

Cost of product revenue

    74,124,999
      5,644,342
      -
      79,769,341
 

 

                               

Loss from operations

    (29,293,309 )     (12,056,364 )     (17,024,068 )     (58,373,741 )

 

                               

Interest and other expense, net

    (218,053 )     (5,660 )     (13,050,164 )     (13,273,877 )

 

                               

Net loss

    (29,511,362 )     (12,062,024 )     (30,074,232 )     (71,647,618 )

 

                               

Capital expenditures

    4,876,983       8,634,275       -       13,511,258  

Depreciation and amortization expense

    4,217,771       1,272,397       5,334       5,495,502  

Total assets

    208,391,019       24,681,691       43,180,014       276,252,724  

 

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