Key Points – Kamada reaffirmed its full-year 2026 outlook for revenue of $200 million to $205 million and adjusted EBITDA of $50 million to $53 million, saying first-quarter results were broadly in line with expectations aside from a temporary shipment delay that pushed about…
4 million of revenue into April. – Q1 revenue was $42.5 million, down slightly from $44 million a year ago, while net income held steady at $4.1 million and adjusted EBITDA was unchanged at $11.6 million. Lower gross margin and lower operating expenses reflected a mix shift and reduced R&D spending after ending the InnovAATe trial. – Management highlighted growth drivers including KEDRAB, GLASSIA, CYTOGAM, VARIZIG, expanding biosimilar and MENA distribution businesses, and new plasma collection centers
Kamada also said it is pursuing M&A while remaining focused on organic growth and long-term profitable expansion. Kamada (NASDAQ:KMDA) reiterated its full-year 2026 outlook after reporting first-quarter results that management said were in line with expectations, excluding a temporary shipment delay that shifted revenue into April. Chief Executive Officer Amir London said demand across the company’s product portfolio continues to support expectations for stronger results over the remainder of the year.
Kamada maintained its 2026 guidance for revenue of $200 million to $205 million and adjusted EBITDA of $50 million to $53 million. London said the midpoint of that outlook represents 12% revenue growth and 23% adjusted EBITDA growth compared with 2025 results. “Importantly, this 2026 annual guidance is based currently solely on organic growth,” London said. First-quarter results affected by delayed shipment Chief Financial Officer Chaime Orlev said first-quarter revenue was $42.5 million, compared with $44 million in the prior-year period.