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SEGMENTS | 6 Months Ended
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Jun. 30, 2020
SEGMENTS |
10. SEGMENTS | 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 immunoglobulin 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, another plasma collection facility for which an FDA license is pending and a plasma collection center currently under construction. 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 June 30, 2020
|  | ADMA BioManufacturing |  |  | Plasma Collection Centers |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 6,502,865 |  |  | $ | 1,249,020 |  |  | $ | 35,709 |  |  | $ | 7,787,594 |
Cost of product revenue |  |  | 12,237,141 |  |  |  | 1,258,488 |  |  |  | - |  |  |  | 13,495,629 |
Loss from operations |  |  | (12,852,835 | ) |  |  | (919,309 | ) |  |  | (3,351,681 | ) |  |  | (17,123,825 | )
Interest and other expense, net |  |  | (235,442 | ) |  |  | (33 | ) |  |  | (2,818,791 | ) |  |  | (3,054,266 | )
Net loss |  |  | (13,088,277 | ) |  |  | (919,342 | ) |  |  | (6,170,472 | ) |  |  | (20,178,091 | )
Depreciation and amortization expense |  |  | 772,241 |  |  |  | 111,106 |  |  |  | 2,305 |  |  |  | 885,652 |
Total assets |  |  | 109,105,418 |  |  |  | 7,542,486 |  |  |  | 74,893,664 |  |  |  | 191,541,568 |
Three Months Ended June 30, 2019 |
|  | ADMA BioManufacturing |  |  | Plasma Collection Centers |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 4,002,445 |  |  | $ | 2,522,788 |  |  | $ | 35,709 |  |  | $ | 6,560,942 |
Cost of product revenue |  |  | 8,170,381 |  |  |  | 2,320,855 |  |  |  | - |  |  |  | 10,491,236 |
Loss from operations |  |  | (8,671,783 | ) |  |  | (392,181 | ) |  |  | (2,274,710 | ) |  |  | (11,338,674 | )
Interest and other expense, net |  |  | (246,603 | ) |  |  | (59 | ) |  |  | (1,626,536 | ) |  |  | (1,873,198 | )
Net loss |  |  | (8,918,386 | ) |  |  | (392,240 | ) |  |  | (3,901,246 | ) |  |  | (13,211,872 | )
Depreciation and amortization expense |  |  | 688,848 |  |  |  | 113,958 |  |  |  | 3,287 |  |  |  | 806,093 |
Total assets |  |  | 67,236,416 |  |  |  | 3,835,999 |  |  |  | 72,201,705 |  |  |  | 143,274,120 |
Six Months Ended June 30, 2020 |
|  | ADMA BioManufacturing |  |  | Plasma Collection Centers |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 14,246,139 |  |  | $ | 3,669,782 |  |  | $ | 71,417 |  |  | $ | 17,987,338 |
Cost of product revenue |  |  | 26,689,094 |  |  |  | 3,635,761 |  |  |  | - |  |  |  | 30,324,855 |
Loss from operations |  |  | (25,328,980 | ) |  |  | (1,376,464 | ) |  |  | (7,188,167 | ) |  |  | (33,893,611 | )
Interest and other expense, net |  |  | (474,314 | ) |  |  | (33 | ) |  |  | (5,055,363 | ) |  |  | (5,529,710 | )
Net loss |  |  | (25,803,294 | ) |  |  | (1,376,497 | ) |  |  | (12,243,530 | ) |  |  | (39,423,321 | )
Capital expenditures |  |  | 5,064,494 |  |  |  | 1,178,790 |  |  |  | - |  |  |  | 6,243,284 |
Depreciation and amortization expense |  |  | 1,447,214 |  |  |  | 222,395 |  |  |  | 4,881 |  |  |  | 1,674,490 |
Six Months Ended June 30, 2019
|  | ADMA BioManufacturing |  |  | Plasma Collection Centers |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 5,346,428 |  |  | $ | 4,671,686 |  |  | $ | 71,417 |  |  | $ | 10,089,531 |
Cost of product revenue |  |  | 16,110,727 |  |  |  | 3,785,688 |  |  |  | - |  |  |  | 19,896,415 |
Loss from operations |  |  | (19,292,591 | ) |  |  | (362,601 | ) |  |  | (4,891,898 | ) |  |  | (24,547,090 | )
Interest and other (expense) income, net |  |  | (416,216 | ) |  |  | 13,560 |  |  |  | (2,895,007 | ) |  |  | (3,297,663 | )
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 |  |  | (19,708,807 | ) |  |  | 11,178,380 |  |  |  | (17,749,400 | ) |  |  | (26,279,827 | )
Capital expenditures |  |  | 224,440 |  |  |  | 21,235 |  |  |  | - |  |  |  | 245,675 |
Depreciation and amortization expense |  |  | 1,376,240 |  |  |  | 228,199 |  |  |  | 6,983 |  |  |  | 1,611,422 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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