The combination of accelerating profitability, strong cash flow, affirmed growth guidance, and new dividend policy suggests Kamada is transitioning to a more mature, cash-generative biopharma profile. The stock may re-rate if 2026 execution matches guidance, especially given the low market cap (~$515M). Monitor M&A activity and plasma collection ramp-up as future catalysts.
Price Chart
Executive Summary
Kamada Ltd. reported strong 2025 full-year results with revenue of $180.5 million (up 12% YoY), adjusted EBITDA of $42.0 million (up 23% YoY), and net income of $20.2 million (up 40% YoY). The company affirmed its 2026 guidance of $200M–$205M in revenue and $50M–$53M in adjusted EBITDA, while declaring its first annual cash dividend of $0.25 per share ($14.4M total).
Key Financial Metrics
Key Facts
- 2025 revenue: $180.5M (+12% YoY), driven by VARIZIG®, KEDRAB®, KAMRAB®, and GLASSIA® sales
- 2025 adjusted EBITDA: $42.0M (+23% YoY); net income: $20.2M (+40% YoY)
- Affirmed 2026 guidance: $200M–$205M revenue (+13% mid-point growth), $50M–$53M adjusted EBITDA (+23% mid-point growth)
- Generated $25.5M in operating cash flow; ended year with $75.5M in cash
- Declared first annual dividend of $0.25 per share ($14.4M total), payable April 6, 2026
- Secured $10M–$14M Canadian Blood Services tender extension through Q1-2028
Financial Impact
Revenue and earnings growth accelerating, with 2026 guidance implying sustained double-digit growth. Dividend adds shareholder return dimension.
Risk Factors
- Fourth-quarter deceleration: Q4 revenue up 15% but net income and adjusted EBITDA declined YoY
- Operating cash flow dropped to $25.5M in 2025 from $47.6M in 2024 due to working capital build
- Discontinuation of Phase 3 Inhaled AAT trial removes a key pipeline catalyst
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3253639 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 16, 2026 16d ago | EFFECT | $8.19 $8.77 | ▲ +7.08% | ▲ +4.52% | $8.20 (+0.12%) |
Sep 10, 2026 22d ago | 6-K | $7.99 $8.67 | ▲ +8.51% | ▲ +9.01% | $8.20 (+2.63%) |
Sep 3, 2026 29d ago | Press Release | $8.54 $8.31 | ▼ −2.69% | ▼ −1.48% | $8.20 (−3.98%) |
Sep 3, 2026 29d ago | 6-K | $8.54 $8.31 | ▼ −2.69% | ▼ −1.48% | $8.20 (−3.98%) |
Aug 17, 2026 6w ago | 6-K / PRESS-RELEASE | $7.76 $8.43 | ▲ +8.63% | ▲ +9.82% | $8.20 (+5.67%) |
Aug 12, 2026 7w ago | 6-K | $6.88 $7.89 | ▲ +14.68% | ▲ +15.12% | $8.20 (+19.19%) |
Aug 5, 2026 8w ago | 6-K | $7.14 $7.26 | ▲ +1.68% | ▲ +0.47% | $8.20 (+14.85%) |
Aug 5, 2026 8w ago | 6-K | $7.18 $6.88 | ▼ −4.18% | ▼ −4.53% | $8.20 (+14.21%) |
Jul 20, 2026 10w ago | 6-K | $7.09 $7.06 | ▼ −0.42% | ▲ +0.00% | $8.20 (+15.66%) |
Jul 13, 2026 11w ago | 6-K | $7.17 $7.05 | ▼ −1.67% | ▼ −0.89% | $8.20 (+14.37%) |
US Market Status
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