Q1 2026 Kamada Ltd Earnings Call Transcript
Key Points
- Kamada Ltd (KMDA) reported first quarter revenues and adjusted EBITDA in line with expectations, despite a temporary shipment delay.
- The company reiterated its 2026 annual guidance of $200 million to $205 million in revenues and $50 million to $53 million of adjusted EBITDA, indicating strong growth prospects.
- Kamada Ltd (KMDA) is expanding its commercial product portfolio, including six FDA-approved specialty plasma-derived products, supporting organic growth in the U.S. and international markets.
- The company is launching additional biosimilar products in the Israeli market and expanding its distribution business to the MENA region.
- Kamada Ltd (KMDA) received FDA approval for its plasma collection center in San Antonio, Texas, and plans to initiate normal-source plasma sales in the second half of the year.
- A temporary shipment delay affected first quarter financial results, although the order was delivered in April.
- Gross margins decreased from 47% in Q1 2025 to 42% in Q1 2026, impacted by product and market sales mix.
- Operating expenses, including R&D, sales and marketing, and G&A, totaled $12.1 million, reflecting increased investments in commercial growth.
- Cash and cash equivalents decreased to $73.1 million as of March 31, 2026, from $75.5 million at the end of 2024.
- The plasma collection centers in Houston and San Antonio are not expected to reach full capacity until the end of 2027 or early 2028.
Greetings, and welcome to the Kamada Limited First Quarter 2026 Earnings Conference Call.
At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation.
(Operator Instructions)
It is now my pleasure to introduce your host, Brian Ritchie of LifeSci Advisors.
Thank you. You may begin.
Thank you, operator. This is Brian Ritchie with LifeSci Advisors. Thank you all for participating in today's call.
Joining me from Kamada are Amir London, Chief Executive Officer, and Chaime Orlev, Chief Financial Officer.
Earlier today, Komada announced its financial results for the three months ended March 31, 2026.
If you have not received this news release, please go to the Investors page of the company's website at www.kamada.com.
Before we begin, I would like to caution that comments made during this conference
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