Quarterly report pursuant to Section 13 or 15(d)

SEGMENTS

v3.21.2
SEGMENTS
 9 Months Ended
Sep. 30, 2021
SEGMENTS [Abstract]  
SEGMENTS
11.
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 immunoglobulin manufacturing, commercial and development operations in Boca Raton, FL, acquired on June 6, 2017 (see Note 1).  The Plasma Collection Centers segment as of September 30, 2021 consists of nine plasma collection facilities in various stages of approval and development located throughout the U.S., three of which hold an approved license with the FDA. 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, 2021
  
   
ADMA
BioManufacturing
    
Plasma Collection
Centers
    
Corporate
    
Consolidated
  
                         
Revenues
  
$
19,063,077
    
$
1,581,765
    
$
35,708
    
$
20,680,550
  
                                 
Cost of product revenue
    
18,695,783
      
1,599,430
      
-
      
20,295,213
  
                                 
Loss from operations
    
(7,456,129
)
    
(3,163,886
)
    
(3,817,061
)
    
(14,437,076
)
                                 
Interest and other income (expense), net
    
22,822
   
(1,597
)
    
(3,297,103
)
    
(3,275,878
)
                                 
Net loss
    
(7,433,307
)
    
(3,165,483
)
    
(7,114,164
)
    
(17,712,954
)
                                 
Depreciation and amortization expense
    
1,064,757
      
356,233
      
1,174
      
1,422,164
  
Total assets
    
189,019,883
      
22,273,264
      
27,347,259
      
238,640,406
  

Three Months Ended September 30, 2020
  
   
ADMA
BioManufacturing
    
Plasma Collection
Centers
    
Corporate
    
Consolidated
  
                         
Revenues
  
$
9,026,323
    
$
1,214,327
    
$
35,708
    
$
10,276,358
  
                                 
Cost of product revenue
    
10,625,837
      
1,229,627
      
-
      
11,855,464
  
                                 
Loss from operations
    
(9,277,702
)
    
(1,320,461
)
    
(3,202,814
)
    
(13,800,977
)
                                 
Interest and other expense, net
    
(268,023
)
    
(411
)
    
(2,848,042
)
    
(3,116,476
)
                                 
Net loss
    
(9,545,725
)
    
(1,320,872
)
    
(6,050,856
)
    
(16,917,453
)
                                 
Depreciation and amortization expense
    
863,366
      
169,691
      
2,236
      
1,035,293
  
Total assets
    
125,004,813
      
9,358,823
      
55,612,407
      
189,976,043
  

Nine Months Ended September 30, 2021
  
   
ADMA
BioManufacturing
    
Plasma Collection
Centers
    
Corporate
    
Consolidated
  
                         
Revenues
  
$
48,832,000
    
$
5,620,633
    
$
107,125
    
$
54,559,758
  
                                 
Cost of product revenue
    
51,527,832
      
5,370,127
      
-
      
56,897,959
  
                                 
Loss from operations
    
(25,299,223
)
    
(7,928,946
)
    
(11,954,388
)
    
(45,182,557
)
                                 
Interest and other expense, net
    
(77,484
)
    
(2,349
)
    
(9,735,808
)
    
(9,815,641
)
                                 
Net loss
    
(25,376,707
)
    
(7,931,295
)
    
(21,690,196
)
    
(54,998,198
)
                                 
Capital expenditures
    
3,805,472
      
6,029,932
      
-
      
9,835,404
  
Depreciation and amortization expense
    
3,130,064
      
843,151
      
4,571
      
3,977,786
  

Nine Months Ended September 30, 2020
  
   
ADMA
BioManufacturing
    
Plasma Collection
Centers
    
Corporate
    
Consolidated
  
                         
Revenues
  
$
23,272,463
    
$
4,884,108
    
$
107,125
    
$
28,263,696
  
                                 
Cost of product revenue
    
37,314,930
      
4,865,389
      
-
      
42,180,319
  
                                 
Loss from operations
    
(34,606,679
)
    
(2,696,927
)
    
(10,390,982
)
    
(47,694,588
)
                                 
Interest and other expense, net
    
(742,336
)
    
(444
)
    
(7,903,406
)
    
(8,646,186
)
                                 
Net loss
    
(35,349,015
)
    
(2,697,371
)
    
(18,294,388
)
    
(56,340,774
)
                                 
Capital expenditures
    
6,619,399
      
2,508,960
      
-
      
9,128,359
  
Depreciation and amortization expense
    
2,310,580
      
392,086
      
7,117
      
2,709,783
  

Net revenues according to geographic area, based on the location of where the product is shipped, is as follows:
   
Three Months Ended September 30,
    
Nine Months Ended September 30,
  
   
2021
   
2020
   
2021
   
2020
 
United States
  
$
18,265,945
    
$
8,809,667
    
$
47,368,793
    
$
24,263,110
  
International
    
2,414,605
      
1,466,691
      
7,190,965
      
4,000,586
  
Total revenues
  
$
20,680,550
    
$
10,276,358
    
$
54,559,758
    
$
28,263,696