KMDA - Earnings call transcript Q3 2024

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Operator

Greetings, and welcome to the Kamada Ltd.

Third Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce Brian Ritchie, LifeSci Advisors. Thank you.

You may begin.

Brian Ritchie

you. Thank Ritchie Brian LifeSci with is Advisors. This all you for participating call. today's in Thank

its the me London, September Financial Orlev, announced Amir Kamada XX, Officer. Earlier results Executive Kamada Joining are Chaime XXXX. Chief from months and X X Officer; and today, financial ended for Chief

Investors If have the this the company's please go news you of release, website received to not page at www.kamada.com.

forward-looking you by uncertainties from Securities London, Wednesday, of cause that information the those the would broadcast, the live that described update like may to including, future XXXX. Kamada. identify review made obligation accurate company's the Exchange the conference limitation, that events materially call turn the comments conference company's Amir? or this to involve and conference factors of it time-sensitive date only circumstances actual that filings results or to which to during with statements any without forward-looking X-K, is specific and that I and management caution reflect begin, the or Forms statements. Furthermore, results in as contain of events said, date over we and Kamada I regarding Amir my undertakes call call. With pleasure November call statements the is the contains no XX-F the Before operations content differ XX, encourage Commission, to to after risks revise will of CEO. this this to of

Amir London

to in Kamada and today's Thank call. in our and interest And your for you, investors Brian. thanks analysts also participating for

our the financial the in third strategy, profitable our that successfully results we X months reflected which and in Let of strong me start emphasizing have by quarter X I XXXX. in described call, my of growth delivered first the last talk pillars

robust growth. deliver continues business to Our profitable

to of increase as the an $XXX the the XX% quarter was period of the quarter, up revenue. Based to EBITDA X $X.X first months, performance representing the X third over million. XXXX, the strong $XX.X million, the were as EBITDA and XXXX; for reiterating prior we third from for guidance months revenues midpoint XXXX; $XX to quarter we $XXX.X increase completed million was And to positive to same our are be continued Total guidance. and the XXXX. compared year revenues for the X increase in XX% compared $XX between the our compared recently XX% a XX% of adjusted EBITDA XX% million, total our period months year outlook are of $XX.X million, a $XXX million million, million third up margin previous to increasing remainder were a guidance of on full and to year adjusted During XX% revenue of for adjusted the

the months In demonstrates for of operational to which the activities, addition, cash operating X $XX.X convert generated year, our ability to reported adjusted we million our by flow. cash EBITDA of first provided consistent

operational highlights. XX in to detail, and product III the marketed X-pillar pivotal open; growth and organic FDA-approved M&A X AAT our to Before Kamada's to and to an discuss ongoing continue call we growth for to products targeting transaction have trial and support expedite centers market. of billion that financial Chaime Inhaled growth; development business which we in turning over greater growth commercial countries; will $X over is includes I portfolio expect our collection our the and profitable the over strategy plasma want review Phase existing results of strategy the

growth During shortly as catalysts, every detail. the advancing first and months will X we significant each progress these made I of

growth to sales of in and first our driven we overall continue drivers: most weeks. expect mix as to CYTOGAM. improve to KEDRAB product is Our by increase profitable and profitable earlier our the Israel, sales launched few this diverse year, successfully launch our we our a portfolio biosimilar growth our biosimilar within next strength year-over-year commercial Moreover, X of products

in coming will pipeline become the years. business to $XX launched biosimilar We that have million. our important $XX biosimilars the with potential anticipate in annual be We several an of to portion peak million sales other of products distribution increasingly

beyond and We business both the compelling and growth strength portfolio. continue process with our and remain accelerate expand engaged strong existing in our balance ended the financial commercial quarter we to continued development and pursue support a million cash to would growth actively are maintain to compelling the expected in sheet opportunities, and a very have third XXXX. of These $XX double-digit business M&A opportunities

Texas. The plasma to it for largest XX,XXX third We an important over this XX center for one site milestone Houston of donor expands parties. opening specialty the a for sites our liters plasma progress beds internal and the continue to during to collect in of in collection plasma the capacity Houston, in in This and center square-foot expected announced planned existing also specialty new to quarter, and the of opening operation of is is The of center an XX,XXX new support Beaumont, beyond capacity over the the will collection U.S., be new Texas. use total be collection annually. we is collection Kamada's plasma normal estimated third in sold center U.S. plasma source with Kamada to

In addition San collection a to Antonio, half expect we've construction of Houston we XXXX. new third during site the of to the open in first begun plasma which Texas, center,

million million revenues of at As a $X contribute its to full center each collection source reminder, to of is capacity. plasma expected $XX normal in sales annual between

Enrollment therapy, clinical AAT the InnovAATe growth continues in Phase a pivotal Inhaled III our to ongoing catalyst now for long-term Turning trial. Kamada.

with of U.S. a approved, As an allow of trend a may acceleration program. for protocol, filed study revised reminder, and which, consisted we this earlier year IND amendment statistical that FDA the the analysis the if

of end before this FDA the feedback year. continue to We anticipate further

of we discussions related partnering achieved product late-stage have to investigational potential also the candidates. With X these please that, to third previously, ahead. clinical I'll financial the to months promising detailed to As for go we a parallel the Chaime, first have said our of regulatory discussion continue results in and progress here, call for XXXX. the of and now turn over quarter Chaime

Chaime Orlev

Amir. you, Thank

of call, XXXX. As the continues be first our Amir performance of at excellent the top months to stated through the X

For were total compared quarter approximately increase of revenues the the XXXX. million, third quarter, third a XX% $XX.X to

were compared or product increase by our market. Total of expenses profit to first gross of first X in XXXX. revenues a of $XX months XXXX the and prior-year sales of XX% ongoing to up CYTOGAM. Operating net was to months of planned ability the $X.XX year, through and over For most sales to months the annual the increased of increase and income a for due months first million expectations. increased million The revenues which was X income or months The X representing profitable for representing of primarily attributable first line share, million, to first per due midpoint the of $X.X margin activities was the million XXXX, of X III gross profitability sales XX% the the $X.XX quarter million, XXXX. of first of approximately X mix diluted months in our for sales a Phase the the KEDRAB XXXX million CYTOGAM the revenues commercial $X.X third X $XX.X Total XXXX prior-year compared products: quarter in in our represented for of expanded to Approximately XX% the compared of million, $XX.X to Sales U.S. our X the market. was the of totaled were in increased third for overall the of $XX.X generated for as $XX.X our our in XX% compared million, XX% our improve with period. the guidance. The $XXX.X well the diluted quarter was X in third margin, was in support trial. Net KEDRAB up months share the the the of recorded of XX% or per InnovAATe total to year in XX% during million XX% as period. was XXXX profit increase margin demand gross $XX.X margin, first

from X as the net the XXXX, first diluted $XX.X XXXX, to million XXXX. Adjusted XXXX. was share, was $X.X EBITDA compared income the XX% in the in $X.X Adjusted million quarter quarter of in $XX.X million period of XXXX. $X.XX of income For $X.X third per $XX.X million net million months or the million EBITDA up XXXX, X of third of of Xx months the X for of first the first months same in the was

to our As full Amir year million. $XX $XX between to increased guidance million noted, EBITDA we XXXX

million balance $XX.X generated million XX. an During of flows, of as X the resulted cash operating we $XX which available in months XXXX, first of cash September of

flexibility strength opportunities, collectively growth remains Our and financial growth business our bottom strong and of pursue our remarks. will to the development XXXX. That position us line accelerate beyond and the to and concludes new continue provides prepared business double-digit which top compelling and existing support profitability with

questions. open We now will Operator? the call to

Operator

first [Operator question Stifel. with Instructions] Our from comes Annabel Samimy

Annabel Samimy

max keeps point I'm what think it tap it expanding, you for maybe And more centers? KEDRAB? it more help can try the is I the on to breakdown that granularly us some the can that you you CYTOGAM? a collection you for you're share under a into my EBITDA number, plasma can so simply Thanks what expansion. to of it little Maybe is now us first does Do mix? what go point? And the your I going going Is provide keep KEDRAB max or just bit. at is, out to have taking of you It Is Is out? and encroaching driving control. it can at in efficiency? questions. competitive with but then guess understand start expectation share

Amir London

for the Annabel, thanks questions.

a -- of significantly both are of to the will So do continue them. product-level both last revenues of quarterly at products is in on the our year, forward. believe detailed report we on year, end What we comment that will, this And can not growing I double compared of course, basis. kind digits

the of terms Latin to market market, We up market. terms we Even grow U.S., European market will important a are around we the Canadian business have in between opportunity Australian it believe KEDRAB we to are in of XX% the outside the emphasize end Israeli supplying share, XX% still to some us countries. XX%. anywhere are leader opportunities of market, In grow for a if some additional global an we also -- anti-D business. Also that immunoglobulin in the and And America, where have then for to to to competitor, room we the grow. still leader

U.S. So growing continue there's or even the to opportunities product. still America North ex ex

economy it of and the But combination In terms in the a KEDRAB in of way scales, we we and that driving what's selling profitable The being more more products. improves CYTOGAM more mix. the U.S. of U.S., sales the in EBITDA of efficient it's our because higher it's EBITDA, kind sell operate. also

Annabel Samimy

Okay. And Great. update InnovAATe with for programs? And if enrollment a of development percent competitive or getting program. I it the progress partnership multiple easier on discussion? harder move Any on And to can the any trial? is

Amir London

Yes.

So we are at around XX% of recruitment.

are discussion remember, what on we be size. the overall the you in will As the p-value on and the FDA sample with implication may

exact sample it's But line up the we a number also on of for the of XX%, So percentage good of I around think total number kind depends enrollment how needed. now. size with

the ongoing. it's FDA We're In the better getting terms from regarding still the X.X. clarity p-value of discussion, of FDA

working discussions or are for looking what are Kamada. terms for sample ongoing. the are the partnering right the size. And We transaction We're implications the partner of right in on

Annabel Samimy

know Obviously, development. And you're can focused if and flow on cash got I in. positive you're business squeeze cash building. you've I X Okay. some operating more

more progress, any to beyond pipeline on out there into and preclinical is BD, any some the building there clinic? programs is So the that progress the get

Amir London

both on sides the Yes, of development.

contribution a and/or BD in So XXXX. impact the on already side, commercial M&A. expect we to hope opportunities proactively the to right commercial we have in We searching for are licensing and

progress. pipeline, of terms our the preclinical is In of which yes, programs making one

eyedrops specifically as one that activities, are preclinical progress program, on the our refer advancing making good to are We and plasma we well.

Operator

this At Brian questions. to Instructions] [Operator I will Ritchie for pass time, call the web

Brian Ritchie

you, Thank Latanya.

off the Amir. Just a couple in here, of have questions come web that

couple that maybe goal open. the about months of now sort your center of got plasma business First, the talk of a ultimate Houston collection we've with

Amir London

Yes.

rate say of must with the in plasma center satisfied that collection X are months the Houston center I highly of operation. the of in the So first the and opening we growth in

or on opened We track Antonio are with also to San the center in be early XXXX. beginning

is requirements. Beaumont, in such be inspection requirements specialty the and those product out those X addition those plasma the is types collecting external are complete already normal large be very now will anti-D. agreements X anti-rabies, ongoing. Right specialty in for expanded to this as or Both centers of going capacity. be to discussions will clients, with We sold supply them plasma of centers And to source to in plan used own the about And centers.

As one how to collection. Houston in I call, specialty few going of if the next And mentioned then many years. -- the terms the is we'll U.S. be are how additional many center plasma during largest we the the decide of to and going centers open over in

Brian Ritchie

question last you Can Maybe here from outlook XXXX? web. provide Terrific. high-level for the a

Amir London

as XXXX. level, kind of we the a of top it's now. course, previously growth our communicated, line to in beginning But bottom expect we and share double-digit of terms high continue. will, bit so of right line So little premature we've But guidance

investors company we in of are plan. as of executing even plan, the that are following that increase we're are saying think EBITDA, to I or the beyond demonstrated the all even the our kind executing maybe our that today

So next line after. and bottom expect year years top to line continue the we as double-digit and mentioned, growth the

Brian Ritchie

Amir, for you it Terrific. closing remarks. any to And off with I'll that, pass

Amir London

Thank you, Brian.

growth closing, and in first delivered months financial in strong our third in we the successful the XXXX. quarter profitable So execution of the is strategy reflected results of the X

the your today's of We continuing about look we call main patients that X are committed We we value. advance in shareholder Thank for creating remain opportunities growth you. your all all important the to safe. life-saving participation you Goodbye. We develop, and you long-term support excited manufacture thank hope strategy. And and clinicians commercialize. We the and to products support. pillars with and healthy to forward to stay our

Operator

Thank you. This today's teleconference. does conclude

have this you and lines You may a participation, for Thank great disconnect day. time. your your at

Kamada (KMDA) 13 Nov 242024 Q3 Earnings call transcript