ADMA BIOLOGICS, INC. (ADMA)
ADMA Biologics, Inc. functions as a biopharmaceutical company specializing in the development, manufacturing, and commercialization of advanced biologic therapies derived from blood plasma. These specialized products are engineered to address immune system disorders and infectious diseases, catering to markets across the United States and internationally. Their current product portfolio includes BIVIGAM and ASCENIV, both intravenous immune globulin (IVIG) treatments prescribed for primary humoral immunodeficiency (PI). Additionally, the company offers Nabi-HB, utilized for immediate treatment following acute exposure to the Hepatitis B virus and other specified exposures. Beyond its existing offerings, ADMA is actively developing a pipeline of new plasma-derived therapeutics. This includes immunoglobulin products specifically targeting the prevention and treatment of S. pneumonia infections. The company also oversees its own facilities for source plasma collection. Product distribution is managed through a comprehensive network involving independent distributors, sales agents, specialty pharmacies, and other alternative healthcare providers. ADMA Biologics, Inc. was founded in 2004 and maintains its corporate headquarters in Ramsey, New Jersey.
Sector: Biological Products, (No Diagnostic Substances)
Industry: Biotechnology
ADMA Biologics, Inc.
NASDAQ:ADMAHealthcare · Biotechnology
-2.89%$11.41
AH$11.25-1.40%vs close
Mkt Cap$2.56B
Float215.07M
O/S223.98M
Vol
$ Vol
RVOL
Inst Own90.5%
SI9.1%
Earnings
Dilution
Financials Summary
Revenue$510.17M
Net Income$146.93M
Total Assets$624.24M
Free Cash Flow$27.82M
Debt & Equity
Debt 14%
Equity 86%
Total Debt$79.89M
Total Equity$477.32M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in ADMA's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$624.24M
Liabilities$146.92M
Accounts Receivable$158.43M
Accounts Payable$22.52M
Inventory$206.47M
PP&E (Net)$71.71M
Goodwill$3.53M
Intangible Assets$632K
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-06-30 | 2010-06-30 | 2009-06-30 | 2008-06-30 | 2007-06-30 |
| Revenue | $510.17M | $426.45M | $258.21M | $154.08M | $80.94M | $42.22M | $29.35M | $16.99M | $22.76M | $10.66M | $7.18M | $5.92M | $3.07M | $1.12M | $0 | $0 | $0 | $0 | $0 |
| YoY Growth | 19.6% | 65.2% | 67.6% | 90.4% | 91.7% | 43.9% | 72.8% | -25.4% | 113.5% | 48.5% | 21.3% | 92.8% | 174.4% | - | - | - | - | - | - |
| Cost of Revenue | $217.41M | $206.9M | $169.27M | $118.81M | $79.77M | $61.29M | $39.5M | $42.19M | $29.16M | $6.36M | $4.31M | $3.74M | $2.02M | $669K | $0 | $0 | $0 | $0 | $0 |
| Gross Profit | $292.76M | $219.55M | $88.94M | $35.27M | $1.17M | -$19.07M | -$10.16M | -$25.21M | -$6.4M | $4.3M | $2.87M | $2.17M | $1.04M | $449K | $0 | $0 | $0 | $0 | $0 |
| Gross Margin | 57.4% | 51.5% | 34.4% | 22.9% | 1.4% | -45.2% | -34.6% | -148.4% | -28.1% | 40.3% | 39.9% | 36.7% | 34.0% | 40.2% | - | - | - | - | - |
| Research and Development | $4.76M | $1.81M | $3.3M | $3.61M | $3.65M | $5.91M | $2.34M | $3.93M | $6.23M | $7.69M | $7.02M | $9.52M | $9.3M | $3.47M | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $91.58M | $74.12M | $59.02M | $52.46M | $42.9M | $35.05M | $25.91M | $22.5M | $18.09M | $8.49M | $6.75M | $4.82M | $4.37M | $3.14M | $26K | $21K | $0 | $0 | $24K |
| Other | $4.98M | $4.63M | $4.99M | $18.56M | $13M | $4.89M | $3.01M | -$127K | -$10K | $4K | $4.62M | -$74K | $82K | $1.75M | $0 | $0 | -$20.01M | $24.92M | $29.73M |
| Total Operating Expenses | $101.32M | $80.57M | $67.31M | $74.63M | $59.55M | $45.84M | $31.27M | $35.08M | $32.06M | $21.63M | $18.38M | $18.19M | $16.09M | $8.36M | $26K | $21K | -$20.01M | $24.92M | $29.73M |
| Operating Income (EBIT) | $191.44M | $138.98M | $21.63M | -$39.37M | -$58.37M | -$64.91M | -$41.42M | -$60.29M | -$39.31M | -$17.33M | -$15.51M | -$16.02M | -$15.04M | -$7.91M | -$26K | -$21K | -$20.01M | -$24.89M | -$29.69M |
| Operating Margin | 37.5% | 32.6% | 8.4% | -25.5% | -72.1% | -153.8% | -141.1% | -354.9% | -172.7% | -162.6% | -216.1% | -270.8% | -490.4% | -707.4% | - | - | - | - | - |
| Interest Expense | $7.11M | $13.93M | $25.03M | $19.28M | $13.06M | $11.99M | $8.99M | $5.52M | $3.29M | $2.24M | $1.84M | $1.29M | $618K | $31K | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $1.87M | $2.1M | $1.62M | $45K | $35K | $288K | $801K | $195K | $57K | $50K | $38K | $14K | $8K | $21K | $4 | $4 | $0 | $0 | $48 |
| Other Income (Expense) | -$8.79M | -$13.27M | -$49.87M | -$26.54M | -$13.27M | -$10.83M | -$6.85M | -$5.45M | -$4.45M | -$2.18M | -$2.46M | -$1.35M | -$485K | -$10K | -$6.2M | -$5.93M | $0 | $0 | $0 |
| Income Before Tax (EBT) | $182.66M | $125.71M | -$28.24M | -$65.9M | -$71.65M | -$75.75M | -$48.28M | -$65.74M | -$43.76M | -$19.52M | -$17.97M | -$17.36M | -$15.53M | -$7.92M | -$26K | -$21K | -$20.01M | -$24.89M | -$29.69M |
| Income Tax Expense | $35.73M | -$71.96M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$552K | $0 | -$618K | -$4 | -$4 | $0 | $0 | $0 |
| Net Income | $146.93M | $197.67M | -$28.24M | -$65.9M | -$71.65M | -$75.75M | -$48.28M | -$65.74M | -$43.76M | -$19.52M | -$17.97M | -$16.81M | -$15.53M | -$7.3M | -$26K | -$21K | -$20.01M | -$24.89M | -$29.69M |
| Net Income Margin | 28.8% | 46.4% | -10.9% | -42.8% | -88.5% | -179.4% | -164.5% | -387.1% | -192.3% | -183.1% | -250.4% | -284.2% | -506.2% | -653.0% | - | - | - | - | - |
| Supplementary Data | |||||||||||||||||||
| EPS | 0.62 | 0.85 | -0.13 | -0.43 | -0.61 | -1.02 | -1.05 | -1.45 | -1.91 | -1.61 | -1.73 | -1.81 | -2.38 | -1.39 | -0.01 | -0.01 | -8.00 | -9956.40 | -11.87 |
| Diluted EPS | 0.60 | 0.81 | -0.13 | -0.43 | -0.61 | -1.02 | -1.05 | -1.45 | -1.91 | -1.61 | -1.73 | -1.81 | -2.38 | -1.39 | -0.00 | -0.00 | -0.02 | -0.02 | -0.01 |
| Weighted Average OS | 238.30M | 233.08M | 223.98M | 197.87M | 139.58M | 86.15M | 54.35M | 45.19M | 22.90M | 12.15M | 10.41M | 9.29M | 6.53M | 5.27M | 2.50M | 2.50M | 2.50M | 2,500 | 2.50M |
| EBITDA | $197.86M | $147.69M | $5.12M | -$39.51M | -$53.1M | -$59.82M | -$36.03M | -$56.77M | -$37.78M | -$16.81M | -$15.66M | -$15.83M | -$14.7M | -$7.71M | -$4.4M | -$5.02M | -$20.01M | -$24.89M | -$29.69M |
| EBITDA Margin | 38.8% | 34.6% | 2.0% | -25.6% | -65.6% | -141.7% | -122.8% | -334.3% | -166.0% | -157.6% | -218.1% | -267.6% | -479.2% | -689.2% | - | - | - | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-06-30 | 2010-06-30 | 2009-06-30 | 2008-06-30 | 2007-06-30 |
| Assets | |||||||||||||||||||
| Current Assets | |||||||||||||||||||
| Cash and Cash Equivalents | $87.63M | $103.15M | $51.35M | $86.52M | $51.09M | $55.92M | $26.75M | $22.75M | $43.11M | $9.91M | $10.44M | $17.2M | $26.15M | $12.54M | $8K | $12K | $8.69M | $2.65M | $14.65M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5.39M | $6.37M | $4.65M | $2.94M | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $87.63M | $103.15M | $51.35M | $86.52M | $51.09M | $55.92M | $26.75M | $22.75M | $43.11M | $15.31M | $16.81M | $21.85M | $29.08M | $12.54M | $8K | $12K | $8.69M | $2.65M | $14.65M |
| Accounts Receivable | $158.43M | $50M | $27.42M | $15.51M | $28.58M | $13.24M | $3.47M | $1.39M | $3.88M | $1.02M | $924K | $384K | $0 | $39K | $0 | $0 | $0 | $0 | $0 |
| Inventory | $206.47M | $170.24M | $172.91M | $163.28M | $124.72M | $81.54M | $53.06M | $18.62M | $12.63M | $5.02M | $3.45M | $1.71M | $1.67M | $1.27M | $0 | $3.4M | $0 | $0 | $0 |
| Other Current Assets | $13.99M | $8.03M | $5.33M | $5.09M | $0 | $0 | $0 | $1.77M | $2.05M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Current Assets | $466.51M | $331.41M | $257.01M | $270.4M | $208.73M | $153.74M | $85.82M | $44.53M | $63.17M | $21.66M | $21.29M | $24.09M | $31.05M | $13.95M | $8K | $12K | $8.69M | $2.65M | $14.65M |
| Long-Term Assets | |||||||||||||||||||
| Property, Plant & Equipment Net | $71.71M | $63.34M | $63.47M | $68.75M | $58.2M | $45.85M | $32.99M | $30.12M | $30.47M | $2M | $2.4M | $2.84M | $765K | $779K | $0 | $1.1M | $0 | $0 | $0 |
| Goodwill | $3.53M | $3.53M | $3.53M | $3.53M | $3.53M | $3.53M | $3.53M | $3.53M | $3.53M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $632K | $460K | $499K | $1.01M | $1.73M | $2.44M | $3.16M | $4M | $4.85M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $400K | $0 | $0 | $0 |
| Deferred Tax Assets | $73.26M | $84.28M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $13.54M | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $8.6M | $5.66M | $4.67M | $4.77M | $4.07M | $2.11M | $1.6M | $6.7M | $6.01M | $27K | $27K | $299K | $162K | -$12.71M | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $157.73M | $157.27M | $72.17M | $78.06M | $67.52M | $53.93M | $41.27M | $44.35M | $44.85M | $2.03M | $2.42M | $3.14M | $927K | $1.61M | $0 | $2K | $0 | $0 | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.5M | $0 | $0 | $0 |
| Total Assets | $624.24M | $488.68M | $329.18M | $348.46M | $276.25M | $207.67M | $127.09M | $88.88M | $108.02M | $23.69M | $23.71M | $27.23M | $31.98M | $15.56M | $8K | $12K | $8.69M | $2.65M | $14.65M |
| Liabilities | |||||||||||||||||||
| Current Liabilities | |||||||||||||||||||
| Accounts Payable | $22.52M | $20.22M | $15.66M | $13.23M | $12.43M | $11.07M | $9.17M | $5.9M | $5.92M | $2.56M | $2.09M | $1.78M | $2.71M | $1.06M | $0 | $842K | $0 | $0 | $0 |
| Short-Term Debt | $2.81M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.11M | $0 | $14K | $13K | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $3.48M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$618K | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $143K | $182K | $143K | $143K | $143K | $143K | $143K | $143K | $145K | $145K | $76K | $76K | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $6.82M | $1.85M | $2.37M | $1.8M | $16.05M | $207K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$797K | $0 | $15.96M | $10.07M |
| Total Current Liabilities | $69.54M | $55.54M | $49.81M | $39.27M | $30.38M | $19.95M | $14.03M | $9.63M | $9.44M | $11.22M | $4.22M | $4.2M | $3.66M | $1.82M | $5K | $12K | $11.51M | $15.96M | $10.07M |
| Long-Term Liabilities | |||||||||||||||||||
| Long-Term Debt | $69.33M | $72.34M | $130.59M | $142.83M | $94.87M | $92.97M | $83.2M | $44.08M | $42.97M | $14.11M | $15.72M | $14.9M | $5M | $3.88M | $0 | $100K | $0 | $15.96M | $10.07M |
| Long-Term Unearned Revenue | $1.41M | $1.55M | $1.69M | $1.83M | $1.98M | $2.12M | $2.26M | $2.4M | $2.55M | $2.69M | $2.83M | $1.5M | $1.58M | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$40.53M | $0 | -$7.98M | -$16.3M | $83K | -$3.85M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $1.67M | $2.11M | $1.85M | $397K | $55K | $107K | $12.88M | $12.73M | $118K | $92K | $560K | $105K | $357K | $0 | -$100K | $0 | $0 | $0 |
| Total Long-Term Liabilities | $77.38M | $84.12M | $144.17M | $157.22M | $104.7M | $99.48M | $86.87M | $59.48M | $58.25M | $16.92M | $18.68M | $17.02M | $6.75M | $4.31M | $0 | $200K | $11.51M | $15.96M | $10.07M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$200K | -$14.33M | -$29.27M | -$5.49M |
| Total Liabilities | $146.92M | $139.66M | $193.98M | $196.49M | $135.08M | $119.42M | $100.9M | $69.11M | $67.69M | $28.14M | $22.89M | $21.22M | $10.41M | $6.13M | $5K | $12K | $8.69M | $2.65M | $14.65M |
| Stockholders' Equity | |||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $24K | $24K | $23K | $22K | $20K | $10K | $6K | $5K | $5K | $1K | $1K | $929 | $929 | $462 | $250 | $250 | $250K | $250K | $0 |
| Retained Earnings | -$161.65M | -$308.58M | -$506.26M | -$478.02M | -$412.11M | -$340.47M | -$264.72M | -$216.44M | -$150.69M | -$106.93M | -$87.42M | -$69.45M | -$52.64M | -$37.11M | -$154K | -$114K | $0 | $0 | $0 |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$3.42M | -$1.29M | -$2.22M | -$1.75M | -$1.28M | -$1.04M | $0 | $0 | -$500K | $0 | $0 | $0 |
| Other Stockholders' Equity | $638.95M | $657.58M | $641.44M | $629.97M | $553.27M | $428.7M | $290.9M | $236.2M | $191.02M | $102.48M | $88.24M | $75.46M | $74.21M | $46.53M | $156K | $113K | -$3.07M | -$13.56M | $4.58M |
| Total Equity | $477.32M | $349.02M | $135.21M | $151.97M | $141.17M | $88.25M | $26.19M | $19.77M | $40.33M | -$4.46M | $821K | $6.01M | $21.57M | $9.42M | $3K | -$346 | -$2.82M | -$13.31M | $4.58M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $624.24M | $488.68M | $329.18M | $348.46M | $276.25M | $207.67M | $127.09M | $88.88M | $108.02M | $23.69M | $23.71M | $27.23M | $31.98M | $15.56M | $8K | $12K | $5.87M | -$10.66M | $19.23M |
| Supplementary Data | |||||||||||||||||||
| Total Debt | $79.89M | $82.12M | $141.42M | $154.44M | $102.92M | $97.67M | $84.73M | $44.22M | $42.97M | $20.26M | $15.77M | $14.97M | $5.08M | $3.97M | $0 | $7.2M | $11.51M | $15.96M | $10.07M |
| Net Debt | -$7.75M | -$21.03M | $90.07M | $67.92M | $51.83M | $41.75M | $57.98M | $21.47M | -$137K | $10.34M | $5.33M | -$2.23M | -$21.07M | -$8.57M | -$8K | $7K | $2.82M | $13.31M | -$4.58M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-06-30 | 2010-06-30 | 2009-06-30 | 2008-06-30 | 2007-06-30 |
| Operating Activities | |||||||||||||||||||
| Net Income | $146.93M | $197.67M | -$28.24M | -$65.9M | -$71.65M | -$75.75M | -$48.28M | -$65.74M | -$43.76M | -$19.52M | -$17.97M | -$16.81M | -$15.53M | -$7.3M | -$26K | -$21K | -$20.01M | -$24.89M | -$29.69M |
| Depreciation & Amortization | $8.1M | $8.04M | $8.33M | $7.11M | $5.5M | $3.94M | $3.26M | $3.45M | $2.69M | $470K | $470K | $248K | $211K | $182K | $220K | $220K | $0 | $0 | $0 |
| Deferred Income Tax | $11.02M | -$84.28M | $0 | $0 | $221K | -$910K | $0 | $122K | $1.88M | $0 | $651K | $74K | -$43K | $18K | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $20.03M | $13.62M | $6.19M | $5.21M | $3.49M | $2.86M | $2.65M | $0 | $1.56M | $1.25M | $1.71M | $1.25M | $888K | $627K | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||
| Accounts Receivable | -$108.43M | -$22.58M | -$11.92M | $13.07M | -$15.34M | -$9.77M | -$2.08M | $2.49M | -$2.86M | -$94K | -$541K | -$384K | $39K | -$39K | $0 | $0 | $0 | $0 | $0 |
| Inventory | -$36.23M | $2.67M | -$9.63M | -$38.56M | -$43.19M | -$28.47M | -$34.65M | -$5.99M | $589K | -$1.57M | -$1.74M | -$40K | -$403K | -$118K | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $2.33M | $4.15M | $3.84M | $800K | $1.36M | $1.9M | $3.27M | -$20K | $2.81M | $477K | $309K | -$938K | $1.61M | -$245K | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | $2.73M | -$2.78M | $7.58M | $6.4M | $5.49M | $2.56M | -$49K | -$168K | -$821K | $184K | $1.3M | $1.54M | $2.19M | -$35K | -$3K | $850 | $10.49M | -$17.89M | $0 |
| Total Working Capital Change | -$139.59M | -$18.54M | -$10.12M | -$18.29M | -$51.68M | -$33.78M | -$33.5M | -$3.69M | -$282K | -$1.01M | -$671K | $178K | $3.44M | -$437K | -$3K | $850 | $10.49M | -$17.89M | $4.58M |
| Other Non-Cash Items | $3.92M | $2.16M | $32.64M | $12.35M | $1.75M | $1.64M | -$320K | $961K | $639K | $534K | $391K | $360K | $147K | $7K | -$220K | -$220K | -$14.94M | $23.78M | $1.49M |
| Net Cash from Operating | $50.4M | $118.67M | $8.8M | -$59.51M | -$112.37M | -$102M | -$76.19M | -$62.68M | -$37.27M | -$18.27M | -$15.42M | -$14.7M | -$10.89M | -$6.9M | -$29K | -$20K | -$24.46M | -$19M | -$23.61M |
| Investing Activities | |||||||||||||||||||
| Capital Expenditures | -$22.57M | -$8.23M | -$4.77M | -$13.91M | -$13.51M | -$12.73M | -$3.81M | -$2.1M | -$2.68M | -$73K | -$26K | -$2.32M | -$197K | -$119K | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $1M | $0 | $0 | $0 | $0 | $2K | $0 | $0 | $12.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$12.5M | -$15.68M | -$1.72M | -$1.72M | -$2.94M | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5.39M | $16.66M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$316K | -$349K | -$210K | $0 | $0 | $2K | $0 | $0 | $12.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$21.89M | -$8.57M | -$4.98M | -$13.91M | -$13.51M | -$12.72M | -$3.81M | -$2.1M | $15.21M | $905K | -$1.74M | -$4.04M | -$3.13M | -$119K | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | |||||||||||||||||||
| Debt Repaid | $3.17M | $60M | $23.6M | -$51.71M | $34K | -$13.52M | -$42.47M | $36K | -$24.98M | -$3.98M | -$685K | -$9.84M | -$988K | -$3.7M | - | - | - | - | - |
| Common Stock Issuance | $2.98M | $7.49M | $0 | $64.64M | $121.14M | $131.2M | $48.4M | $42.94M | $39.2M | $12.9M | $10.26M | $0 | $27.03M | $17.29M | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$31.94M | $0 | -$1.42M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$150K | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$11.89M | -$5.8M | -$13.97M | -$7.51M | -$62K | -$817K | -$10.86M | $13K | -$3.43M | -$47K | $9.72M | -$42K | -$386K | -$25K | $1.29M | $23K | $30.5M | $7M | $13K |
| Net Cash from Financing | -$44.02M | -$58.3M | -$38.99M | $108.85M | $121.05M | $143.9M | $80M | $42.92M | $60.75M | $16.84M | $10.4M | $9.8M | $27.63M | $19.47M | $26K | $23K | $30.5M | $7M | $12.5M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$15.52M | $51.8M | -$35.17M | $35.43M | -$4.83M | $29.17M | -$3K | -$21.85M | $38.69M | -$526K | -$6.76M | -$8.95M | $13.61M | $12.45M | -$4K | $3K | $6.04M | -$12.01M | -$11.12M |
| Supplementary Data | |||||||||||||||||||
| Operating Cash Flow | $50.4M | $118.67M | $8.8M | -$59.51M | -$112.37M | -$102M | -$76.19M | -$62.68M | -$37.27M | -$18.27M | -$15.42M | -$14.7M | -$10.89M | -$6.9M | -$29K | -$20K | -$24.46M | -$19M | -$23.61M |
| Capital Expenditure | -$22.57M | -$8.57M | -$4.98M | -$13.91M | -$13.51M | -$12.73M | -$3.81M | -$2.1M | -$2.68M | -$73K | -$26K | -$2.32M | -$197K | -$119K | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $27.82M | $110.1M | $3.82M | -$73.42M | -$125.88M | -$114.73M | -$80.01M | -$64.77M | -$39.95M | -$18.34M | -$15.44M | -$17.03M | -$11.08M | -$7.02M | -$29K | -$20K | -$24.46M | -$19M | -$23.61M |
| Cash at Beginning | $103.15M | $51.35M | $86.52M | $51.09M | $55.92M | $26.75M | $26.75M | $48.61M | $9.91M | $10.44M | $17.2M | $26.15M | $12.54M | $88K | $12K | $9K | $2.65M | $14.65M | $25.77M |
| Cash at End | $87.63M | $103.15M | $51.35M | $86.52M | $51.09M | $55.92M | $26.75M | $26.75M | $48.61M | $9.91M | $10.44M | $17.2M | $26.15M | $12.54M | $9K | $12K | $8.69M | $2.65M | $14.65M |