Quarterly report pursuant to Section 13 or 15(d)

11. SEGMENTS

v3.10.0.1
11. SEGMENTS
 9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
11. SEGMENTS

The Company is engaged in the manufacture, marketing and development of specialty plasma-derived biologics. The Company’s operating segments reflect the consummation of the Biotest Transaction on June 6, 2017 (see Notes 1 and 3), and the nature of its operations subsequent to the close of the transaction. The Company’s ADMA BioManufacturing segment reflects the Company’s immune globulin manufacturing and development operations in Boca Raton, FL, acquired on June 6, 2017 (see Note 3). The Plasma Collection Centers segment consists of three FDA-licensed source plasma collection facilities located in Georgia. 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:

 

 

Three Months Ended September 30, 2018
  ADMA BioManufacturing   Plasma Collection Centers   Corporate   Consolidated
               
Revenues  $                 1,985,630    $              2,208,972    $                  35,708    $             4,230,310
               
Cost of product revenue                     7,671,279                    1,492,830                               -                      9,164,109
               
Loss from operations                 (10,214,933)                  (1,257,196)                 (2,319,271)                (13,791,400)
               
Interest and other expense, net                      (255,410)                              849                 (1,089,524)                  (1,344,085)
               
Net loss                 (10,470,343)                  (1,256,347)                 (3,408,795)                (15,135,485)
               
Total assets                   56,123,178                    5,524,105                 44,697,817               106,345,100
               
Depreciation and amortization expense                        651,317                       191,547                          4,193                      847,057

 

Nine Months Ended September 30, 2018
  ADMA BioManufacturing   Plasma Collection Centers   Corporate   Consolidated
               
Revenues  $                 5,796,597    $              7,025,144    $                107,125    $           12,928,866
               
Cost of product revenue                   26,334,602                    4,717,917                               -                    31,052,519
               
Loss from operations                 (32,656,560)                  (3,238,013)                 (7,846,711)                (43,741,284)
               
Interest and other expense, net                      (732,623)                              (22)                 (3,231,529)                  (3,964,174)
               
Net loss                 (33,389,183)                  (3,238,035)               (11,078,240)                (47,705,458)
               
Capital expenditures                        772,339                       504,255                               -                      1,276,594
               
Depreciation and amortization expense                     1,922,448                       581,059                        18,989                   2,522,496

 

Three Months Ended September 30, 2017
  ADMA BioManufacturing   Plasma Collection Centers   Corporate   Consolidated
               
Revenues  $                 1,879,921    $              2,813,782    $                  35,708    $             4,729,411
               
Cost of product revenue                     9,552,128                    1,738,988                               -                    11,291,116
               
Loss from operations                 (10,532,500)                     (507,900)                 (3,387,360)                (14,427,760)
               
Interest and other expense, net                      (237,548)                                 -                       (537,407)                     (774,955)
               
Net loss                 (10,770,048)                     (507,900)                 (3,924,767)                (15,202,715)
               
Total assets                   55,452,496                    3,517,274                 13,843,710                 72,813,480
               
Depreciation and amortization expense                        723,098                       102,263                        10,710                      836,071

 

Nine Months Ended September 30, 2017
  ADMA BioManufacturing   Plasma Collection Centers   Corporate   Consolidated
               
Revenues  $                 2,419,144    $              8,231,414    $                107,125    $           10,757,683
               
Cost of product revenue                   12,050,984                    5,190,438                               -                    17,241,422
               
Loss from operations                 (13,650,801)                  (1,621,364)               (13,494,466)                (28,766,631)
               
Interest and other expense, net                      (299,535)                                 -                    (1,710,007)                  (2,009,542)
               
Net loss                 (13,950,336)                  (1,621,364)               (15,204,473)                (30,776,173)
               
Depreciation and amortization expense                        881,496                       309,606                        40,163                   1,231,265
               
Capital expenditures                        360,000                       291,194                        15,263                      666,457