Quarterly report pursuant to Section 13 or 15(d)

SEGMENTS

v3.22.2.2
SEGMENTS
9 Months Ended
Sep. 30, 2022
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 consists of ten plasma collection facilities located throughout the U.S., seven of which currently hold FDA licenses, with two additional plasma collection centers in operation and collecting plasma and the remaining facility under construction. 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, 2022
 
     ADMA      Plasma Collection              
   
BioManufacturing
   
Centers
   
Corporate
   
Consolidated
 
                         
Revenues
 
$
37,280,798
   
$
3,773,631
   
$
35,708
   
$
41,090,137
 
                                 
Cost of product revenue
   
27,883,046
     
3,550,450
     
-
     
31,433,496
 
                                 
Income (loss) from operations
   
297,310
   
(4,636,269
)
   
(4,977,774
)
   
(9,316,733
)
                                 
Interest and other expense, net
   
(3,023
)
   
(154
)
   
(5,579,594
)
   
(5,582,771
)
                                 
Net income (loss)
   
294,287
   
(4,636,423
)
   
(10,557,368
)
   
(14,899,504
)
                                 
Total assets
   
242,983,498
     
39,125,933
     
18,448,139
     
300,557,570
 
Depreciation and amortization expense
   
1,214,529
     
647,463
     
-
     
1,861,992
 

Three Months Ended September 30, 2021
 
     ADMA      Plasma Collection              
   
BioManufacturing
   
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 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
)
                                 
Total assets
   
189,019,883
     
22,273,264
     
27,347,259
     
238,640,406
 
Depreciation and amortization expense
   
1,064,757
     
356,233
     
1,174
     
1,422,164
 

Nine Months Ended September 30, 2022
 
     ADMA      Plasma Collection              
   
BioManufacturing
   
Centers
   
Corporate
   
Consolidated
 
                         
Revenues
 
$
95,129,542
   
$
8,861,570
   
$
107,125
   
$
104,098,237
 
                                 
Cost of product revenue
   
74,383,948
     
8,626,208
     
-
     
83,010,156
 
                                 
Loss from operations
   
(4,423,228
)
   
(12,520,163
)
   
(16,363,147
)
   
(33,306,538
)
                                 
Interest and other expense, net
   
(70,084
)
   
(1,221
)
   
(13,624,483
)
   
(13,695,788
)
                                 
Loss on extinguishment of debt
    -       -       (6,669,941 )     (6,669,941 )
                                 
Net loss
   
(4,493,312
)
   
(12,521,384
)
   
(36,657,571
)
   
(53,672,267
)
                                 
Capital expenditures
   
4,292,246
     
5,870,404
     
-
     
10,162,650
 
Depreciation and amortization expense
   
3,486,212
     
1,689,362
     
918
     
5,176,492
 

Nine Months Ended September 30, 2021
 
     ADMA      Plasma Collection              
   
BioManufacturing
   
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
 

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,
 
   
2022
   
2021
   
2022
   
2021
 
United States
 
$
37,854,167
   
$
18,265,945
   
$
96,445,162
   
$
47,368,793
 
International
   
3,235,970
     
2,414,605
     
7,653,075
     
7,190,965
 
Total revenues
 
$
41,090,137
   
$
20,680,550
   
$
104,098,237
   
$
54,559,758