Quarterly report pursuant to Section 13 or 15(d)

10. SEGMENTS

v3.19.3
10. SEGMENTS
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
10. 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 immune globulin manufacturing, commercial and development operations in Boca Raton, FL, acquired on June 6, 2017 (see Note 1). The Plasma Collection Centers segment consists of one FDA-licensed source plasma collection facility for the nine months ended September 30, 2019 and two FDA-licensed facilities for the nine months ended September 30, 2018. 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, 2019
    ADMA BioManufacturing   Plasma Collection Centers   Corporate   Consolidated
                 
Revenues   $ 5,869,082     $ 1,317,713     $ 35,708     $ 7,222,503  
                                 
Cost of product revenue     6,585,143       1,331,077       —         7,916,220  
                                 
Loss from operations     (6,007,646 )     (470,263 )     (2,572,519 )     (9,050,428 )
                                 
Interest and other expense, net     (255,384 )     —         (2,132,647 )     (2,388,031 )
                                 
Net loss     (6,263,030 )     (470,263 )     (4,705,166 )     (11,438,459 )
                                 
Depreciation and amortization     700,981       113,957       3,190       818,128  
                                 
Total assets     87,400,781       4,105,208       46,273,784       137,779,773  

 

Three Months Ended September 30, 2018
    ADMA BioManufacturing   Plasma Collection Centers   Corporate   Consolidated
                 
Revenues   $ 1,985,630     $ 2,208,972     $ 35,708     $ 4,230,310  
                                 
Cost of product revenue     7,671,279       1,492,830       —         9,164,109  
                                 
Loss from operations     (10,214,933 )     (1,257,196 )     (2,319,271 )     (13,791,400 )
                                 
Interest and other expense, net     (255,410 )     849       (1,089,524 )     (1,344,085 )
                                 
Net loss     (10,470,343 )     (1,256,347 )     (3,408,795 )     (15,135,485 )
                                 
Total assets     56,123,178       5,524,105       44,697,817       106,345,100  
                                 
Depreciation and amortization expense     651,317       191,547       4,193       847,057  

 

Nine Months Ended September 30, 2019
    ADMA BioManufacturing   Plasma Collection Centers   Corporate   Consolidated
                 
Revenues   $ 11,215,510     $ 5,989,399     $ 107,125     $ 17,312,034  
                                 
Cost of product revenue     22,695,870       5,116,765       —         27,812,635  
                                 
Loss from operations     (25,300,237 )     (832,864 )     (7,464,417 )     (33,597,518 )
                                 
Interest and other (expense) income, net     (671,600 )     13,560       (5,027,654 )     (5,685,694 )
                                 
Gain on transfer of plasma center assets     —         11,527,421       —         11,527,421  
                                 
Loss on extinguishment of debt     —         —         (9,962,495 )     (9,962,495 )
                                 
Net (loss) income     (25,971,837 )     10,708,117       (22,454,566 )     (37,718,286 )
                                 
Depreciation and amortization     2,077,221       342,156       10,173       2,429,550  
                                 
Capital expenditures     2,185,554       31,988       —         2,217,542  

 

Nine Months Ended September 30, 2018
    ADMA BioManufacturing   Plasma Collection Centers   Corporate   Consolidated
                 
Revenues   $ 5,796,597     $ 7,025,144     $ 107,125     $ 12,928,866  
                                 
Cost of product revenue     26,334,602       4,717,917       —         31,052,519  
                                 
Loss from operations     (32,656,560 )     (3,238,013 )     (7,846,711 )     (43,741,284 )
                                 
Interest and other expense, net     (732,623 )     (22 )     (3,231,529 )     (3,964,174 )
                                 
Net loss     (33,389,183 )     (3,238,035 )     (11,078,240 )     (47,705,458 )
                                 
Depreciation and amortization     1,922,448       581,059       18,989       2,522,496  
                                 
Capital expenditures     772,339       504,255       —         1,276,594