Revenue and EBITDA Growth
Total revenues for Q3 were $41.7 million, a 10% increase compared to Q3 2023, and adjusted EBITDA was $8.8 million, an 11% increase. For the first 9 months, revenues were up 15% to $121.9 million, and adjusted EBITDA was $25.4 million, up 43% over the prior year.
Cash Flow and Financial Strength
Generated $37.2 million of cash from operations in the first 9 months, ending Q3 with $72 million in cash. This financial strength supports business development and M&A opportunities.
Expansion of Plasma Collection Centers
Opened a new plasma collection center in Houston with a capacity of over 50,000 liters annually, and construction of a third site in San Antonio is underway.
Biosimilar Product Launch
Launched the first biosimilar product in Israel, with several others in the pipeline, expected to reach peak potential annual sales of $30 million to $34 million.
Market Leadership in KEDRAB and CYTOGAM
Increased sales of KEDRAB and CYTOGAM, driving revenue growth, with KEDRAB holding a 40-50% market share.