By Meg Flippin Benzinga
DETROIT, MICHIGAN - November 18, 2025 (NEWMEDIAWIRE) - Kamada Ltd. (NASDAQ: KMDA), a global biopharmaceutical company and a global leader in specialty plasma-derived therapeutics, posted double-digit revenue and adjusted EBITDA growth for the third quarter and reiterated full-year forecasts.
Calling the third quarter the strongest of the year, Kamada's CEO Amir London said the company “continues to execute on our strategy and generate significant profitable growth through the diversity of our product portfolio.”
Strongest Quarter Of The Year
For the quarter ending September 30th, Kamada reported revenue of $47.0 million, which was up 13% compared to $41.7 million in the year-ago third quarter. Net income of $5.3 million, or $0.09 per diluted share, was 37% higher than the $3.9 million, or $0.07 per diluted share, reported in Q3 last year.
Adjusted EBITDA came in at $11.7 million, 34% higher year-over-year. Meanwhile, gross profit and gross margins were $19.8 million and 42%, respectively, compared to $17.2 million and 41%, respectively, in the year-ago quarter. Kamada credited the uptick to a better sales mix and overall increased commercial scale.
As for the first nine months of the year, Kamada reported revenue of $135.8 million, which was up 11% year-over-year and adjusted EBITDA of $34.2 million, up 35% year-over-year. Net income came in at $16.6 million, or $0.29 per diluted share, a 56% increase compared to net income of $10.7 million, or $0.18 per diluted share, in the first nine months of 2024. As a result of the performance seen in the first nine months of 2025, Kamada is reiterating its full-year revenue guidance of between $178 million and $182 million and annual adjusted EBITDA guidance of between $40 million and $44 million.
Using Strength To Grow
“We have consistently demonstrated our ability to convert profitability to operational cash flow, as we generated $17.9 million of cash from operating activities during the first nine months of the year, contributing to our strong cash position as of the end of the quarter of $72.0 million,” said London. “As we advance our business development initiatives, we plan to leverage our financial strength to enrich our portfolio of marketed products and support our continued long-term annual double-digit profitable growth.”
Earlier in the year, Kamada launched a post-marketing research program for CYTOGAM®, the company’s Cytomegalovirus Immune Globulin used to manage cytomegalovirus (CMV) in solid organ transplant patients. The company recently announced the initiation of the investigator-initiated SHIELD (Strategic Help with Immunoglobulin to Enhance protection against Late Disease) study, which will be conducted by leading experts in CMV and organ transplantation. The study will evaluate the benefits of CYTOGAM administered at the conclusion of anti-viral prophylaxis to reduce the risk of clinically significant late CMV in kidney transplant recipients. Supporting this study is part of Kamada's marketing efforts invested in this important product.
Investments Continue
At the same time, Kamada continues to invest in its plasma collection operations and recently received FDA approval for its Houston facility, with a planned capacity to collect about 50,000 liters annually. The company is ramping up plasma collection at its three centers and is negotiating with potential customers to secure long-term sales contracts. Kamada is also advancing a pivotal phase 3 InnovAATe clinical trial for its inhaled Alpha-1 Antitrypsin therapy to treat Alpha-1 Antitrypsin Deficiency and is expecting results of its interim futility analysis by the end of this quarter.
With significant cash in the bank, growth across its commercial portfolio and the company being in expansion mode, Kamada is positioning itself for continued annual double-digit profitable growth into 2026. Stay tuned for more blood-pumping news out of this global biopharmaceutical company and provider of specialty plasma-derived products.
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This content was originally published on Benzinga. Read further disclosures here.
This article includes forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, including (among others) statements regarding Kamada's: 1) plans to continue executing on its strategy and generate significant profitable growth through the diversity of its product portfolio; 2) 2025 guidance of total revenue of between $178 million and $182 million and adjusted EBITDA of $40 million to $44 million; 3) plan to leverage its financial strength to enrich its portfolio of marketed products and support its continued long-term annual double-digit profitable growth; 4) expectations that the post-marketing research program aimed at generating new data to support the benefits of CYTOGAM® will meet its goals; 5) the planned capacity to collect about 50,000 liters annually in the Houston plasma collection facility; 6) successful outcome of the negotiations with potential customers to secure long-term sales contracts of plasma; 6) continued advancement of the InnovAATe clinical trial and conducting an interim futility analysis by the end of 2025. Forward-looking statements are based on Kamada’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to the evolving nature of the conflicts in the Middle East and the impact of such conflicts in Israel, the Middle East and the rest of the world, the impact of these conflicts on market conditions and the general economic, industry and political conditions in Israel, the U.S. and globally, effect of potential imposed tariff on overall international trade and specifically on Kamada’s ability to continue maintaining expected sales and profit levels in light of such potential tariff, the effect on establishment and timing of business initiatives, Kamada’s ability to leverage new business opportunities, including M&A and in-license opportunities and integrate it with its existing product portfolio, operational capabilities of Kamada’s plasma centers, unexpected results of clinical and development programs, regulatory delays, and other risks detailed in Kamada’s filings with the U.S. Securities and Exchange Commission (the “SEC”) including those discussed in its most recent Annual Report on Form 20-F and in any subsequent reports on Form 6-K, each of which is on file or furnished with the SEC and available at the SEC’s website at www.sec.gov. The forward-looking statements made herein speak only as of the date of this announcement and Kamada undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
Important Safety Information for CYTOGAM:
Cytogam is contraindicated in individuals with a history of a prior severe reaction associated with the administration of this or other human immunoglobulin preparations. Persons with selective immunoglobulin A deficiency have the potential for developing antibodies to immunoglobulin A and could have anaphylactic reactions to subsequent administration of blood products that contain immunoglobulin A, including Cytogam. Minor reactions, such as flushing, chills, muscle cramps, back pain, fever, nausea, vomiting, arthralgia, and wheezing, were the most frequent adverse reactions observed during the clinical trials for Cytogam. Immune Globulin Intravenous (Human) products have been reported to be associated with renal dysfunction, acute renal failure, osmotic nephrosis, and death. Thrombotic events have been reported in association with IGIV. Cytogam is derived from human plasma. As with all plasma-derived products, the risk of transmission of infectious agents, including viruses and, theoretically, the Creutzfeldt-Jakob disease (CJD) agent, cannot be completely eliminated.
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