Kamada Ltd. announced record top and bottom-line financial results for the full year ended December 31, 2024. Total revenue for 2024 reached $161 million, representing a 13% increase over 2023, while adjusted EBITDA surged 42% year-over-year to $34.1 million. The company achieved a gross profit margin of 43% for the year, reflecting an improved product sales mix.
Key product sales contributed to this performance, with KEDRAB® sales reaching $50 million and CYTOGAM® sales increasing 31% over 2023 to $23 million. As of December 31, 2024, Kamada maintained a strong cash and cash equivalents position of $78.4 million. The company's Board of Directors also declared a special cash dividend of $0.20 per share.
Kamada reaffirmed its fiscal year 2025 guidance, expecting total revenues in the range of $178 million to $182 million and adjusted EBITDA between $38 million and $42 million. The company continues to advance its pivotal Phase III InnovAATe clinical trial, with a revised enrollment goal of 180 patients and an interim futility analysis on track for the end of 2025. Additionally, the third plasma collection center in San Antonio, Texas, is expected to open by the end of March 2025.
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