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