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Kamada Reports Record-High First Nine Months 2026 Financial Results; Increases 2026 Annual Guidance and Projects Double-Digit Growth in Revenues and Profitability in 2027

KMDA
  • Kamada Ltd. reported record nine-month revenues of $152.2 million in 2026, representing a 12% increase year-over-year.
  • Nine-month adjusted EBITDA reached a record $40.9 million with a 27% revenue margin, a 20% year-over-year increase.
  • Third-quarter 2026 revenues totaled $52.0 million, up 11% year-over-year, while third-quarter adjusted EBITDA was $15.2 million, up 30% year-over-year.
  • Net income for the third quarter was $8.0 million (up 51% year-over-year), with nine-month net income at $21.4 million (up 29% year-over-year).
  • The company raised its 2026 full-year revenue guidance to $205 million–$208 million and adjusted EBITDA guidance to $52 million–$54 million.
  • Kamada projects double-digit growth in both revenues and profitability for 2027, with detailed guidance to follow in January 2027.
  • Operating cash flow for the first nine months of 2026 was $37.6 million, with a cash balance of $75.3 million at the end of the third quarter.
  • A cash dividend of $0.14 per share was declared for the fourth quarter, bringing total 2026 dividends to $0.56 per share ($32.2 million).
  • Revenue growth was driven by increased sales of proprietary products KEDRAB, VARIZIG, and HEPAGAM, plus a 35% increase in the Distribution segment.
  • Gross margins improved to 45% in the third quarter and 43% for the nine-month period, primarily due to a favorable product sales mix.
  • The company announced the commercial launch of two new biosimilarity products in Israel, expecting to generate $10 million in 2028 revenue from this portfolio.
  • Kamada confirmed sufficient KEDRAB supply to meet U.S. demand following a CDC health advisory.
  • Plasma collection operations at Texas facilities are ramping up to support a three-year, approximately $50 million supply agreement.
  • The company remains focused on accelerating growth through business development, in-licensing, and M&A transactions.
Company
Kamada Ltd.
Keywords
Tel Aviv Stock Exchange:KMDA.TA, Kamada Ltd.