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SEGMENTS | 6 Months Ended
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Jun. 30, 2021
SEGMENTS [Abstract] |
SEGMENTS |
11. | 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 as of June 30, 2021 consists of eight plasma collection facilities in various stages of approval and development located throughout the U.S., two of which hold an approved license with the FDA while a third facility has a BLA pending FDA approval. 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, 2021 |
|  | ADMA BioManufacturing |  |  | Plasma Collection Centers |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 16,347,880 |  |  | $ | 1,447,001 |  |  | $ | 35,709 |  |  | $ | 17,830,590 |
Cost of product revenue |  |  | 17,382,292 |  |  |  | 1,450,332 |  |  |  | - |  |  |  | 18,832,624 |
Loss from operations |  |  | (8,337,405 | ) |  |  | (2,794,219 | ) |  |  | (4,449,608 | ) |  |  | (15,581,232 | )
Interest and other expense, net |  |  | (78,793 | ) |  |  | (366 | ) |  |  | (3,244,912 | ) |  |  | (3,324,071 | )
Net loss |  |  | (8,416,198 | ) |  |  | (2,794,585 | ) |  |  | (7,694,520 | ) |  |  | (18,905,303 | )
Depreciation and amortization expense |  |  | 1,055,537 |  |  |  | 268,927 |  |  |  | 1,530 |  |  |  | 1,325,994 |
Total assets |  |  | 169,799,509 |  |  |  | 20,593,411 |  |  |  | 42,420,872 |  |  |  | 232,813,792 |
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 |
Six Months Ended June 30, 2021 |
|  | ADMA BioManufacturing |  |  | Plasma Collection Centers |  |  | Corporate |  |  | Consolidated |
Revenues |  | $ | 29,768,923 |  |  | $ | 4,038,868 |  |  | $ | 71,417 |  |  | $ | 33,879,208 |
Cost of product revenue |  |  | 32,832,049 |  |  |  | 3,770,697 |  |  |  | - |  |  |  | 36,602,746 |
Loss from operations |  |  | (17,843,093 | ) |  |  | (4,765,060 | ) |  |  | (8,137,328 | ) |  |  | (30,745,481 | )
Interest and other expense, net |  |  | (100,307 | ) |  |  | (750 | ) |  |  | (6,438,706 | ) |  |  | (6,539,763 | )
Net loss |  |  | (17,943,400 | ) |  |  | (4,765,810 | ) |  |  | (14,576,034 | ) |  |  | (37,285,244 | )
Capital expenditures |  |  | 2,725,432 |  |  |  | 4,321,303 |  |  |  | - |  |  |  | 7,046,735 |
Depreciation and amortization expense |  |  | 2,065,307 |  |  |  | 486,918 |  |  |  | 3,397 |  |  |  | 2,555,622 |
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 |
Net revenues according to geographic area, based on the location of where the product is shipped, is as follows:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
United States |  | $ | 15,424,839 |  |  | $ | 6,797,170 |  |  | $ | 29,102,848 |  |  | $ | 15,453,443 |
International |  |  | 2,405,751 |  |  |  | 990,424 |  |  |  | 4,776,360 |  |  |  | 2,533,895 |
Total revenues |  | $ | 17,830,590 |  |  | $ | 7,787,594 |  |  | $ | 33,879,208 |  |  | $ | 17,987,338 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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