Annual report pursuant to Section 13 and 15(d)

12. SEGMENTS

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12. SEGMENTS
12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
12. SEGMENTS

The Company is engaged in the manufacture, marketing and development of specialty plasma-derived biologics. The Company’s operating segments reflect the consummation of the Biotest Transaction on June 6, 2017 (see Notes 1 and 3), and the nature of its operations subsequent to the close of the transaction. The Company’s ADMA BioManufacturing segment reflects the Company’s immune globulin manufacturing and development operations in Florida, acquired on June 6, 2017 (see Note 3). The Plasma Collection Centers segment consists of three FDA-licensed source plasma collection facilities located in Georgia, two of which were transferred to Biotest on January 1, 2019 (see Note 17). 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: 

 

Year Ended December 31, 2018
    ADMA BioManufacturing   Plasma Collection Centers   Corporate   Consolidated
                 
Revenues   $ 6,797,548     $ 10,044,908     $ 142,834     $ 16,985,290  
                                 
Cost of product revenue     35,485,273       6,709,362       —         42,194,635  
                                 
Gross (loss) profit     (28,687,725 )     3,335,546       142,834       (25,209,345 )
                                 
Loss from operations     (45,633,715 )     (4,470,073 )     (10,185,156 )     (60,288,944 )
                                 
Interest and other expense, net     (1,077,624 )     (967 )     (4,375,910 )     (5,454,501 )
                                 
Net loss     (46,711,339 )     (4,471,040 )     (14,561,066 )     (65,743,445 )
                                 
Capital expenditures     1,580,684       514,916       —         2,095,600  
                                 
Depreciation and amortization expense     2,608,776       814,768       22,854       3,446,398  
                                 
Total assets     57,818,051       5,443,032       25,615,438       88,876,521  

 

Year Ended December 31, 2017
    ADMA BioManufacturing   Plasma Collection Centers   Corporate   Consolidated
                 
Revenues   $ 10,980,987     $ 11,636,739     $ 142,834     $ 22,760,560  
                                 
Cost of product revenue     21,862,140       7,302,181       —         29,164,321  
                                 
Gross (loss) profit     (10,881,153 )     4,334,558       142,834       (6,403,761 )
                                 
Loss from operations     (19,801,455 )     (2,169,192 )     (17,339,349 )     (39,309,996 )
                                 
Interest and other expense, net     (537,235 )     (6,885 )     (3,904,859 )     (4,448,979 )
                                 
Net loss     (20,338,690 )     (2,176,077 )     (21,244,208 )     (43,758,975 )
                                 
Capital expenditures     747,402       1,913,663       15,263       2,676,328  
                                 
Depreciation and amortization expense     2,204,772       436,687       50,842       2,692,301  
                                 
Total assets     54,004,696       3,933,673       50,080,464       108,018,833