Kamada Ltd. reported robust financial results for the second quarter and first half of 2025. For the first half of 2025, total revenues reached $88.8 million, an 11% increase year-over-year, with adjusted EBITDA growing 35% to $22.5 million, representing a 25% margin. In the second quarter of 2025 alone, revenues were $44.8 million, up 5% from the prior year, and adjusted EBITDA increased 20% to $10.9 million.
The company demonstrated disciplined management of operational expenses, which decreased in the second quarter of 2025 compared to the prior year. Net income for the first half of 2025 stood at $11.3 million, or $0.19 per diluted share, reflecting increased operating profits. Kamada generated $8 million from operating activities in Q2 2025.
Kamada raised its full-year 2025 adjusted EBITDA guidance to between $40 million and $44 million, while reiterating its revenue guidance of $178 million to $182 million. The Houston plasma collection center recently received U.S. FDA approval, enhancing supply chain resilience. The pivotal Phase III InnovAATe clinical trial for inhaled Alpha-1 Antitrypsin therapy is progressing, with an interim futility analysis expected by year-end 2025.
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