{"success":true,"data":{"pressRelease":{"id":"33144","rtpr_id":"nGNX3Nv1RR","ticker":"KMDA","exchange":"","all_tickers":["KMDA"],"title":"Kamada Reports First Quarter 2026 Financial Results and Affirms 2026 Annual Guidance; Expecting Significantly Stronger Remainder of the Year","author":"Globe Newswire","published_at":"2026-05-13T11:00:02.529Z","article_body":"* Q1-2026 Revenue of $45.2 Million, up 3% Year-over-Year; Adjusted EBITDA of\n$11.6 Million, representing a Robust 26% Margin of Revenues; Net Income of\n$4.1 Million, up 4% Year-over-Year\n* Underlying Demand for the Company’s Products Continues to Increase,\nSupporting the Company’s Expectation for a Significantly Stronger Remainder\nof 2026\n* Company Affirms 2026 Annual Guidance of $200 Million – $205 Million in\nRevenues and $50 Million – $53 Million of Adjusted EBITDA, Representing\nAnnual Double-Digit Organic Profitable Growth\n* Q1-2026 Results Impacted by Temporary Shipment Delay of a Single Order,\nSubsequently Delivered during April  \n* Company Continues to Evaluate Near-Term Business Development and M&A\nTransactions to Further Enhance Long-Term Profitable Growth\n* Conference Call and Live Webcast Today at 8:30am ET\nREHOVOT, Israel, and HOBOKEN, N.J., May 13, 2026 (GLOBE NEWSWIRE) -- Kamada\nLtd. (NASDAQ: KMDA; TASE: KMDA.TA), a global biopharmaceutical company with a\nportfolio of marketed products indicated for rare and serious conditions and a\nleader in the specialty plasma-derived therapies field, today announced\nfinancial results for the three months ended March 31, 2026.\n\n“Our operational and financial performance in 2026 is off to a solid start,\nwith first quarter revenues and adjusted EBITDA in line with our\nexpectations,” said Amir London, Kamada’s Chief Executive Officer.\n“Total revenues for the first quarter were $45.2 million, an increase of\napproximately 3% year-over-year, and adjusted EBITDA was $11.6 million,\nrepresenting a robust 26% margin of revenue. Net income for the quarter was\n$4.1 million, up 4% year-over-year. While temporary shipment delay of a single\norder, subsequently delivered during April, affected first quarter financial\nresults, importantly, the underlying demand of our products, including for\nKEDRAB(®) in the U.S. market as well as KAMRAB(®) and VARIZIG(®) in ex-U.S.\nmarkets, continues to increase, supporting our confidence for a significantly\nstronger remainder of 2026. We are reiterating our 2026 annual guidance of\n$200 million to $205 million in revenues and $50 million to $53 million of\nadjusted EBITDA, respectively, representing 12% and 23% growth when comparing\n2026 guidance mid-points to 2025 results.”\n\n“In 2026, our focus remains on the expansion of our entire commercial\nproduct portfolio, including our six FDA-approved specialty plasma-derived\nproducts. In our Distribution segment, growth is supported by the launch of\nadditional biosimilar products in the Israeli market, as well our expansion of\nthe Distribution business to the MENA region. We are ramping up plasma\ncollection in our three FDA-approved Texas-based plasma centers, which are\nexpected to provide significant capacity of specialty and normal source plasma\ncollection, strengthening our vertical integration and supporting continued\ngrowth. Lastly, we continue to make progress evaluating and securing near-term\nnew business development and M&A opportunities that will enrich our current\nportfolio and generate synergies with our existing commercial operations,”\nconcluded Mr. London.\n\nFinancial Highlights for the Three Months Ended March 31, 2026\n* Total revenues were $45.2 million in the first quarter of 2026, an increase\nof 3% compared to $44.0 million in the first quarter of 2025. The increase in\nrevenues year-over-year was primarily driven by increased sales of KEDRAB, as\nwell as increased sales in our Distribution segment.  \n* Gross profit and gross margins were $19.1 million and 42%, respectively, in\nthe first quarter of 2026, compared to $20.7 million and 47%, respectively, in\nthe first quarter of 2025. The reduction in gross margin year-over-year was\naffected by products and markets' sales mix.\n* Operating expenses, including R&D, S&M, G&A and other expenses, totaled\n$12.1 million in the first quarter of 2026, compared to $13.0 million in the\nfirst quarter of 2025. The decrease was driven by a reduction in R&D expense\nrelated to the termination of the Phase 3 InnovAATe clinical trial, offset by\nincreases in S&M and G&A expenses related to our investments in the overall\ngrowth of the commercial product portfolio.  \n* Net income was $4.1 million, or $0.07 per diluted share, in the first\nquarter of 2026, up 4% as compared to $4.0 million, or $0.07 per diluted\nshare, in the first quarter of 2025.\n* Adjusted EBITDA, as detailed in the tables below, was $11.6 million in the\nfirst quarter of 2026, equivalent to the adjusted EBITDA reported in the first\nquarter of 2025.\n* Cash used in operating activities was $0.3 million in the first quarter of\n2026, as compared to cash used in operating activities of $0.5 million in the\nfirst quarter of 2025.\nBalance Sheet Highlights\nAs of March 31, 2026, Kamada had cash and cash equivalents and short-term\ninvestment totaling $73.1 million, as compared to $75.5 million as of December\n31, 2025. The Company recorded $0.3 million in cash used in operating\nactivities, net cash used in investment activities of $1.0 million, net cash\nused in financing activities of $0.9 million and exchange differences on\nbalances of cash and cash equivalent of $0.2 million, collectively resulting\nin an overall decrease in cash balance.\n\nRecent Corporate Highlights\n* Announced U.S. Food and Drug Administration (FDA) approval of Kamada\nPlasma’s collection center in San Antonio, TX. The approval was obtained\nfollowing an on-site inspection made by the FDA during February 2026. The\ncenter is now cleared to commence commercial sales of normal source plasma.\n* Announced the payment of a cash dividend of $0.25 (approximately NIS 0.77)\nper share on the Company’s ordinary shares (totaling approximately $14.4\nmillion). The cash dividend was paid on April 7, 2026, to shareholders of\nrecord at the close of business on March 23, 2026.\nFiscal 2026 Guidance\nKamada is reiterating its 2026 annual financial guidance of total revenues in\nthe range of $200 million to $205 million and adjusted EBITDA in the range of\n$50 million to $53 million, representing year-over-year increase of 12% in\nrevenues and 23% in adjusted EBITDA based on mid-point of 2026 annual\nguidance.\n\nConference Call Details\nKamada management will host an investment community conference call on\nWednesday, May 13, at 8:30am Eastern Time to discuss these results and answer\nquestions. Shareholders and other interested parties may participate in the\ncall by dialing 1-877-407-0792 (from within the U.S.), 1-809-406-247 (from\nIsrael), or 1-201-689- 8263 (International) using conference I.D. 13760232.\nThe call will be webcast live on the internet at:\nhttps://viavid.webcasts.com/starthere.jsp?ei=1760803&tp_key=7219e3b56c\n\nNon-IFRS financial measures\nWe present EBITDA and adjusted EBITDA because we use these non-IFRS financial\nmeasures to assess our operational performance, for financial and operational\ndecision-making, and as a means to evaluate period-to-period comparisons on a\nconsistent basis. Management believes these non-IFRS financial measures are\nuseful to investors because: (1) they allow for greater transparency with\nrespect to key metrics used by management in its financial and operational\ndecision-making and provide investors with a meaningful perspective on the\ncurrent underlying performance of the Company’s core ongoing operations; and\n(2) they exclude the impact of certain items that are not directly\nattributable to our core operating performance and that may obscure trends in\nthe core operating performance of the business. Non-IFRS financial measures\nhave limitations as an analytical tool and should not be considered in\nisolation from, or as a substitute for, our IFRS results. We expect to\ncontinue reporting non-IFRS financial measures, adjusting for the items\ndescribed below, and we expect to continue to incur expenses similar to\ncertain of the non-cash, non-IFRS adjustments described below. Accordingly,\nunless otherwise stated, the exclusion of these and other similar items in the\npresentation of non-IFRS financial measures should not be construed as an\ninference that these items are unusual, infrequent or non-recurring. EBITDA\nand adjusted EBITDA are not recognized terms under IFRS and do not purport to\nbe an alternative to IFRS terms as an indicator of operating performance or\nany other IFRS measure. Moreover, because not all companies use identical\nmeasures and calculations, the presentation of EBITDA and adjusted EBITDA may\nnot be comparable to other similarly titled measures of other companies.\nEBITDA is defined as net income (loss), plus income tax expense, plus or minus\nfinancial income or expenses, net, plus or minus income or expense in respect\nof securities measured at fair value, net, plus or minus income or expenses in\nrespect of currency exchange differences and derivatives instruments, net,\nplus depreciation and amortization expense, whereas adjusted EBITDA is the\nEBITDA plus non-cash share-based compensation expenses and certain other\ncosts.\n\nFor the projected 2026 adjusted EBITDA information presented herein, the\nCompany is unable to provide a reconciliation of this forward measure to the\nmost comparable IFRS financial measure because the information for these\nmeasures is dependent on future events, many of which are outside of the\nCompany’s control. Additionally, estimating such forward-looking measures\nand providing a meaningful reconciliation consistent with the Company’s\naccounting policies for future periods is meaningfully difficult and requires\na level of precision that is unavailable for these future periods and cannot\nbe accomplished without unreasonable effort. Forward-looking non-IFRS measures\nare estimated in a manner consistent with the relevant definitions and\nassumptions noted in the Company’s adjusted EBITDA for historical periods.\n\nAbout Kamada \nKamada Ltd. (the “Company”) is a global biopharmaceutical company with a\nportfolio of marketed products indicated for rare and serious conditions and a\nleader in the specialty plasma-derived therapies field. FIMI Opportunity\nFunds, the leading private equity firm in Israel, is the Company’s\ncontrolling shareholder, beneficially owning approximately 38% of the\noutstanding ordinary shares. The Company’s strategy is focused on driving\nprofitable growth through four primary growth pillars: First, organic growth\nof its commercial portfolio, including continued investment in the\ncommercialization and life cycle management of its proprietary products,\nconsisting of six FDA-approved specialty plasma-derived products: KEDRAB®,\nGLASSIA®, CYTOGAM®, VARIZIG®, WINRHO SDF® and HEPAGAM B®, as well as\nKAMRAB®, and two equine-based anti-snake venom products. Second, distribution\nof third parties' pharmaceutical products in Israel & the MENA region through\nin-licensing partnerships, including the launch of several biosimilar products\nin Israel. Third, the Company is ramping up its plasma collection operations\nto support revenue growth through the sale of normal source plasma to other\nplasma-derived manufacturers, and to support its increasing demand for\nhyper-immune plasma. The Company currently owns three FDA approved operating\nplasma collection centers in the United States, in Beaumont, Houston, and San\nAntonio, Texas. Fourth, the Company aims to secure new mergers and\nacquisitions, business development, in-licensing and/or collaboration\nopportunities, which are anticipated to enhance the Company’s marketed\nproducts portfolio and leverage its financial strength and existing commercial\ninfrastructure to drive long-term profitable growth. The Company is leveraging\nits manufacturing, research and development expertise to advance the\ndevelopment and commercialization of additional product candidates, targeting\nareas of significant unmet medical need.\n\nCautionary Note Regarding Forward-Looking Statements \nThis release includes forward-looking statements within the meaning of Section\n21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe\nharbor provisions of the U.S. Private Securities Litigation Reform Act of\n1995. Forward-looking statements are statements that are not historical facts,\nincluding statements regarding: 1) the Company’s expectation for a\nsignificantly stronger remainder of 2026, 2) the Company’s reiterated 2026\nannual guidance of $200 million to $205 million in revenues and $50 million to\n$53 million of adjusted EBITDA; 3) continued increase in underlying demand for\nthe Company’s products, including KEDRAB® in the U.S. market and KAMRAB®\nand VARIZIG® in ex-U.S. markets; 4) the expansion of the Company’s entire\ncommercial product portfolio and the Distribution segment, including expansion\nto the MENA region and launch of additional biosimilar products in Israel; 5)\nramp-up of plasma collection operations at the Company’s plasma collection\ncenters and the expected contribution of such operations to the Company’s\nvertical integration and continued growth; 6) the Company’s evaluation of\nand securing near-term new business development and M&A opportunities to\nfurther enhance long-term profitable growth; 7) the anticipated enrichment of\nthe Company’s marketed products portfolio and generation of synergies with\nits existing commercial operations; and 8) the development and\ncommercialization of additional product candidates targeting areas of\nsignificant unmet medical need. Forward-looking statements are based on\nKamada’s current knowledge and its present beliefs and expectations\nregarding possible future events and are subject to risks, uncertainties and\nassumptions. Actual results and the timing of events could differ materially\nfrom those anticipated in these forward-looking statements as a result of\nseveral factors including, but not limited to the evolving nature of the\nconflicts in the Middle East and the impact of such conflicts in Israel, the\nMiddle East and the rest of the world, the impact of these conflicts on market\nconditions and the general economic, industry and political conditions in\nIsrael, the U.S. and globally, effect of tariffs on overall international\ntrade and specifically on Kamada’s ability to continue maintaining expected\nsales and profit levels in light of such tariffs, the effect on establishment\nand timing of business initiatives, Kamada’s ability to find near-term\nbusiness development and M&A transactions and leverage such opportunities and\nsuccessfully integrate such opportunities with its existing product portfolio,\nunexpected results of clinical and development programs, regulatory delays, \nand other risks detailed in Kamada’s filings with the U.S. Securities and\nExchange Commission (the “SEC”) including those discussed in its most\nrecent Annual Report on Form 20-F and in any subsequent reports on Form 6-K,\neach of which is on file or furnished with the SEC and available at the\nSEC’s website at www.sec.gov. The forward-looking statements made herein\nspeak only as of the date of this announcement and Kamada undertakes no\nobligation to update publicly such forward-looking statements to reflect\nsubsequent events or circumstances, except as otherwise required by law.\n\nCONTACTS:\nChaime Orlev\nChief Financial Officer\nIR@kamada.com\n\nBrian Ritchie\nLifeSci Advisors, LLC\n212-915-2578\nbritchie@LifeSciAdvisors.com\n\n\n\n \n CONSOLIDATED STATEMENTS OF FINANCIAL POSITION \n \n As of As of \n March 31, December 31, \n 2026 2025 2025 \n Unaudited \n U.S. Dollars in Thousands \n Assets \n Current Assets \n Cash and cash equivalents $ 32,922 $ 76,250 $ 75,469 \n Short-term investments 40,225 - - \n Trade receivables, net 36,515 27,876 27,007 \n Other accounts receivables 4,136 6,016 5,656 \n Inventories 85,437 78,358 84,943 \n Total Current Assets 199,235 188,500 193,075 \n \n Non-Current Assets \n Property, plant and equipment, net 41,463 37,406 41,367 \n Right-of-use assets 8,908 9,539 8,900 \n Intangible assets and other long-term assets 95,676 101,422 97,511 \n Goodwill 30,313 30,313 30,313 \n Contract assets 7,426 7,925 7,544 \n Total Non-Current Assets 183,786 186,605 185,635 \n Total Assets $ 383,021 $ 375,105 $ 378,710 \n Liabilities \n Current Liabilities \n Current maturities of lease liabilities $ 2,198 $ 1,780 $ 2,121 \n Current maturities of other long term liabilities 10,643 10,889 9,923 \n Trade payables 21,938 24,854 23,242 \n Other accounts payables 24,930 19,319 12,108 \n Deferred revenues 67 205 - \n Total Current Liabilities 59,776 57,047 47,394 \n \n Non-Current Liabilities \n Lease liabilities 9,443 9,318 9,440 \n Contingent consideration 20,910 21,216 20,372 \n Other long-term liabilities 29,925 32,990 30,113 \n Deferred taxes 2,866 2,061 1,651 \n Employee benefit liabilities, net 714 516 670 \n Total Non-Current Liabilities 63,858 66,101 62,246 \n \n Shareholder’s Equity \n Ordinary shares 15,078 15,074 15,078 \n Additional paid in capital net 268,360 268,160 268,283 \n Capital reserve due to translation to presentation currency (3,490 ) (3,490 ) (3,490 ) \n Capital reserve from hedges (6 ) (117 ) 177 \n Capital reserve from share-based payments 6,434 5,266 5,711 \n Capital reserve from employee benefits 374 372 385 \n Accumulated deficit (27,363 ) (33,308 ) (17,074 ) \n Total Shareholder’s Equity 259,387 251,957 269,070 \n Total Liabilities and Shareholder’s Equity $ 383,021 $ 375,105 $ 378,710 \n\n\n\n \n CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME \n \n Three months period Year Ended \n Ended March 31, \n December 31, \n 2026 2025 2025 \n Unaudited \n U.S. Dollars in Thousands \n Revenues from proprietary products $ 36,227 $ 40,017 $ 156,206 \n Revenues from distribution 9,013 4,001 24,254 \n \n Total revenues 45,240 44,018 180,460 \n \n Cost of revenues from proprietary products 18,202 19,738 83,928 \n Cost of revenues from distribution 7,922 3,531 20,125 \n \n Total cost of revenues 26,124 23,269 104,053 \n \n Gross profit 19,116 20,749 76,407 \n \n Research and development expenses 2,181 4,246 12,995 \n Selling and marketing expenses 4,753 4,510 18,455 \n General and administrative expenses 5,229 4,198 18,724 \n Other expenses - - - \n Operating income (loss) 6,953 7,795 26,233 \n \n Financial income 425 534 1,921 \n Income (expenses) in respect of currency exchange differences and derivatives instruments, net (261 ) 251 (1,171 ) \n Financial Income (expense) in respect of contingent consideration and other long- term liabilities. (1,538 ) (1,775 ) (2,652 ) \n Financial expenses (188 ) (192 ) (864 ) \n Income before tax on income 5,391 6,613 23,467 \n Taxes on income (1,259 ) (2,649 ) (3,269 ) \n \n Net Income (loss) $ 4,132 $ 3,964 $ 20,198 \n \n Other Comprehensive Income (loss): \n Amounts that will be or that have been reclassified to profit or loss when specific conditions are met \n Gain (loss) on cash flow hedges 90 (114 ) 1,069 \n Net amounts transferred to the statement of profit or loss for cash flow hedges (273 ) (54 ) (943 ) \n Items that will not be reclassified to profit or loss in subsequent periods: \n Remeasurement gain (loss) from defined benefit plan (11 ) 8 21 \n Total comprehensive income (loss) $ 3,938 $ 3,804 $ 20,345 \n \n Earnings per share attributable to equity holders of the Company: \n Basic net earnings per share $ 0.07 $ 0.07 $ 0.35 \n Diluted net earnings per share $ 0.07 $ 0.07 $ 0.35 \n\n\n\n \n CONSOLIDATED STATEMENTS OF CASH FLOWS \n \n Three months period Year Ended \n Ended March 31, December 31, \n 2026 2025 2025 \n Unaudited Unaudited \n U.S. Dollars in Thousands \n Cash Flows from Operating Activities \n Net income $ 4,132 $ 3,964 $ 20,198 \n \n Adjustments to reconcile net income to net cash provided by operating activities: \n \n Adjustments to the profit or loss items: \n \n Depreciation and amortization 3,851 3,611 14,918 \n Financial expenses, net 1,562 1,182 2,766 \n Cost of share-based payment 800 175 845 \n Taxes on income 1,259 2,649 3,269 \n Gain from sale of property and equipment - (8 ) (8 ) \n Change in employee benefit liabilities, net 31 16 183 \n 7,503 7,625 21,973 \n Changes in asset and liability items: \n \n Increase in trade receivables, net (9,757 ) (6,557 ) (5,407 ) \n Decrease (increase) in other accounts receivables 1,288 (671 ) (535 ) \n Decrease (increase) in inventories (494 ) 461 (6,124 ) \n Decrease in deferred expenses 119 94 475 \n Decrease in trade payables (1,446 ) (3,748 ) (6,870 ) \n Increase (decrease) in other accounts payables (1,897 ) (2,044 ) 950 \n Increase (decrease) in deferred revenues 67 34 (171 ) \n (12,120 ) (12,431 ) (17,682 ) \n Cash received (paid) during the period for: \n \n Interest paid (187 ) (176 ) (864 ) \n Interest received 425 534 1,921 \n Taxes paid (44 ) (29 ) (56 ) \n 194 329 1,001 \n \n Net cash provided by (used in) operating activities $ (291 ) $ (513 ) $ 25,490 \n\n\n\n \n CONSOLIDATED STATEMENTS OF CASH FLOWS (continued) \n \n Three months period Year Ended \n Ended March, 31 December 31, \n 2026 2025 2025 \n Unaudited Unaudited \n U.S. Dollars in Thousands \n Cash Flows from Investing Activities \n Purchase of property and equipment and intangible assets $ (973 ) $ (1,468 ) $ (9,846 ) \n Investment in short term investments, net (40,225 ) - - \n Proceeds from sale of property and equipment - 8 8 \n Net cash used in investing activities (41,198 ) (1,460 ) (9,838 ) \n \n Cash Flows from Financing Activities \n \n Proceeds from exercise of share base payments - 46 50 \n Repayment of lease liabilities (389 ) (14 ) (972 ) \n Dividends Paid - - (11,534 ) \n Repayment of other long-term liabilities (467 ) (325 ) (5,889 ) \n Net cash used in financing activities (856 ) (293 ) (18,345 ) \n \n Exchange differences on balances of cash and cash equivalent (202 ) 81 (273 ) \n \n Decrease in cash and cash equivalents (42,547 ) (2,185 ) (2,966 ) \n \n Cash and cash equivalents at the beginning of the period 75,469 78,435 78,435 \n \n Cash and cash equivalents at the end of the period $ 32,922 $ 76,250 $ 75,469 \n \n Significant non-cash transactions \n Right-of-use asset recognized with corresponding lease liability $ 439 $ 352 $ 1,221 \n Purchase of property and equipment and Intangible assets $ 683 $ 1,103 $ 2,523 \n\n\n\n \n NON-IFRS MEASURES \n \n Three months period Year Ended \n Ended March 31, December 31, \n 2026 2025 2025 \n U.S. Dollars in thousands \n Net income $ 4,132 $ 3,964 $ 20,198 \n Taxes on income 1,259 2,649 3,269 \n Financial expense, net 1,562 1,182 2,766 \n Depreciation and amortization expense 3,851 3,611 14,924 \n Non-cash share-based compensation expenses 800 175 845 \n Adjusted EBITDA $ 11,604 $ 11,581 $ 42,002 \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/6334b598-e958-4ac2-b196-aac2c24ea458)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX3Nv1RR","title":"Kamada Reports First Quarter 2026 Financial Results and Affirms 2026 Annual Guidance; Expecting Significantly Stronger Remainder of the Year","author":"Globe Newswire","ticker":"KMDA","created":"2026-05-13T11:00:02.529Z","tickers":["KMDA"],"exchange":"","article_body":"* Q1-2026 Revenue of $45.2 Million, up 3% Year-over-Year; Adjusted EBITDA of\n$11.6 Million, representing a Robust 26% Margin of Revenues; Net Income of\n$4.1 Million, up 4% Year-over-Year\n* Underlying Demand for the Company’s Products Continues to Increase,\nSupporting the Company’s Expectation for a Significantly Stronger Remainder\nof 2026\n* Company Affirms 2026 Annual Guidance of $200 Million – $205 Million in\nRevenues and $50 Million – $53 Million of Adjusted EBITDA, Representing\nAnnual Double-Digit Organic Profitable Growth\n* Q1-2026 Results Impacted by Temporary Shipment Delay of a Single Order,\nSubsequently Delivered during April  \n* Company Continues to Evaluate Near-Term Business Development and M&A\nTransactions to Further Enhance Long-Term Profitable Growth\n* Conference Call and Live Webcast Today at 8:30am ET\nREHOVOT, Israel, and HOBOKEN, N.J., May 13, 2026 (GLOBE NEWSWIRE) -- Kamada\nLtd. (NASDAQ: KMDA; TASE: KMDA.TA), a global biopharmaceutical company with a\nportfolio of marketed products indicated for rare and serious conditions and a\nleader in the specialty plasma-derived therapies field, today announced\nfinancial results for the three months ended March 31, 2026.\n\n“Our operational and financial performance in 2026 is off to a solid start,\nwith first quarter revenues and adjusted EBITDA in line with our\nexpectations,” said Amir London, Kamada’s Chief Executive Officer.\n“Total revenues for the first quarter were $45.2 million, an increase of\napproximately 3% year-over-year, and adjusted EBITDA was $11.6 million,\nrepresenting a robust 26% margin of revenue. Net income for the quarter was\n$4.1 million, up 4% year-over-year. While temporary shipment delay of a single\norder, subsequently delivered during April, affected first quarter financial\nresults, importantly, the underlying demand of our products, including for\nKEDRAB(®) in the U.S. market as well as KAMRAB(®) and VARIZIG(®) in ex-U.S.\nmarkets, continues to increase, supporting our confidence for a significantly\nstronger remainder of 2026. We are reiterating our 2026 annual guidance of\n$200 million to $205 million in revenues and $50 million to $53 million of\nadjusted EBITDA, respectively, representing 12% and 23% growth when comparing\n2026 guidance mid-points to 2025 results.”\n\n“In 2026, our focus remains on the expansion of our entire commercial\nproduct portfolio, including our six FDA-approved specialty plasma-derived\nproducts. In our Distribution segment, growth is supported by the launch of\nadditional biosimilar products in the Israeli market, as well our expansion of\nthe Distribution business to the MENA region. We are ramping up plasma\ncollection in our three FDA-approved Texas-based plasma centers, which are\nexpected to provide significant capacity of specialty and normal source plasma\ncollection, strengthening our vertical integration and supporting continued\ngrowth. Lastly, we continue to make progress evaluating and securing near-term\nnew business development and M&A opportunities that will enrich our current\nportfolio and generate synergies with our existing commercial operations,”\nconcluded Mr. London.\n\nFinancial Highlights for the Three Months Ended March 31, 2026\n* Total revenues were $45.2 million in the first quarter of 2026, an increase\nof 3% compared to $44.0 million in the first quarter of 2025. The increase in\nrevenues year-over-year was primarily driven by increased sales of KEDRAB, as\nwell as increased sales in our Distribution segment.  \n* Gross profit and gross margins were $19.1 million and 42%, respectively, in\nthe first quarter of 2026, compared to $20.7 million and 47%, respectively, in\nthe first quarter of 2025. The reduction in gross margin year-over-year was\naffected by products and markets' sales mix.\n* Operating expenses, including R&D, S&M, G&A and other expenses, totaled\n$12.1 million in the first quarter of 2026, compared to $13.0 million in the\nfirst quarter of 2025. The decrease was driven by a reduction in R&D expense\nrelated to the termination of the Phase 3 InnovAATe clinical trial, offset by\nincreases in S&M and G&A expenses related to our investments in the overall\ngrowth of the commercial product portfolio.  \n* Net income was $4.1 million, or $0.07 per diluted share, in the first\nquarter of 2026, up 4% as compared to $4.0 million, or $0.07 per diluted\nshare, in the first quarter of 2025.\n* Adjusted EBITDA, as detailed in the tables below, was $11.6 million in the\nfirst quarter of 2026, equivalent to the adjusted EBITDA reported in the first\nquarter of 2025.\n* Cash used in operating activities was $0.3 million in the first quarter of\n2026, as compared to cash used in operating activities of $0.5 million in the\nfirst quarter of 2025.\nBalance Sheet Highlights\nAs of March 31, 2026, Kamada had cash and cash equivalents and short-term\ninvestment totaling $73.1 million, as compared to $75.5 million as of December\n31, 2025. The Company recorded $0.3 million in cash used in operating\nactivities, net cash used in investment activities of $1.0 million, net cash\nused in financing activities of $0.9 million and exchange differences on\nbalances of cash and cash equivalent of $0.2 million, collectively resulting\nin an overall decrease in cash balance.\n\nRecent Corporate Highlights\n* Announced U.S. Food and Drug Administration (FDA) approval of Kamada\nPlasma’s collection center in San Antonio, TX. The approval was obtained\nfollowing an on-site inspection made by the FDA during February 2026. The\ncenter is now cleared to commence commercial sales of normal source plasma.\n* Announced the payment of a cash dividend of $0.25 (approximately NIS 0.77)\nper share on the Company’s ordinary shares (totaling approximately $14.4\nmillion). The cash dividend was paid on April 7, 2026, to shareholders of\nrecord at the close of business on March 23, 2026.\nFiscal 2026 Guidance\nKamada is reiterating its 2026 annual financial guidance of total revenues in\nthe range of $200 million to $205 million and adjusted EBITDA in the range of\n$50 million to $53 million, representing year-over-year increase of 12% in\nrevenues and 23% in adjusted EBITDA based on mid-point of 2026 annual\nguidance.\n\nConference Call Details\nKamada management will host an investment community conference call on\nWednesday, May 13, at 8:30am Eastern Time to discuss these results and answer\nquestions. Shareholders and other interested parties may participate in the\ncall by dialing 1-877-407-0792 (from within the U.S.), 1-809-406-247 (from\nIsrael), or 1-201-689- 8263 (International) using conference I.D. 13760232.\nThe call will be webcast live on the internet at:\nhttps://viavid.webcasts.com/starthere.jsp?ei=1760803&tp_key=7219e3b56c\n\nNon-IFRS financial measures\nWe present EBITDA and adjusted EBITDA because we use these non-IFRS financial\nmeasures to assess our operational performance, for financial and operational\ndecision-making, and as a means to evaluate period-to-period comparisons on a\nconsistent basis. Management believes these non-IFRS financial measures are\nuseful to investors because: (1) they allow for greater transparency with\nrespect to key metrics used by management in its financial and operational\ndecision-making and provide investors with a meaningful perspective on the\ncurrent underlying performance of the Company’s core ongoing operations; and\n(2) they exclude the impact of certain items that are not directly\nattributable to our core operating performance and that may obscure trends in\nthe core operating performance of the business. Non-IFRS financial measures\nhave limitations as an analytical tool and should not be considered in\nisolation from, or as a substitute for, our IFRS results. We expect to\ncontinue reporting non-IFRS financial measures, adjusting for the items\ndescribed below, and we expect to continue to incur expenses similar to\ncertain of the non-cash, non-IFRS adjustments described below. Accordingly,\nunless otherwise stated, the exclusion of these and other similar items in the\npresentation of non-IFRS financial measures should not be construed as an\ninference that these items are unusual, infrequent or non-recurring. EBITDA\nand adjusted EBITDA are not recognized terms under IFRS and do not purport to\nbe an alternative to IFRS terms as an indicator of operating performance or\nany other IFRS measure. Moreover, because not all companies use identical\nmeasures and calculations, the presentation of EBITDA and adjusted EBITDA may\nnot be comparable to other similarly titled measures of other companies.\nEBITDA is defined as net income (loss), plus income tax expense, plus or minus\nfinancial income or expenses, net, plus or minus income or expense in respect\nof securities measured at fair value, net, plus or minus income or expenses in\nrespect of currency exchange differences and derivatives instruments, net,\nplus depreciation and amortization expense, whereas adjusted EBITDA is the\nEBITDA plus non-cash share-based compensation expenses and certain other\ncosts.\n\nFor the projected 2026 adjusted EBITDA information presented herein, the\nCompany is unable to provide a reconciliation of this forward measure to the\nmost comparable IFRS financial measure because the information for these\nmeasures is dependent on future events, many of which are outside of the\nCompany’s control. Additionally, estimating such forward-looking measures\nand providing a meaningful reconciliation consistent with the Company’s\naccounting policies for future periods is meaningfully difficult and requires\na level of precision that is unavailable for these future periods and cannot\nbe accomplished without unreasonable effort. Forward-looking non-IFRS measures\nare estimated in a manner consistent with the relevant definitions and\nassumptions noted in the Company’s adjusted EBITDA for historical periods.\n\nAbout Kamada \nKamada Ltd. (the “Company”) is a global biopharmaceutical company with a\nportfolio of marketed products indicated for rare and serious conditions and a\nleader in the specialty plasma-derived therapies field. FIMI Opportunity\nFunds, the leading private equity firm in Israel, is the Company’s\ncontrolling shareholder, beneficially owning approximately 38% of the\noutstanding ordinary shares. The Company’s strategy is focused on driving\nprofitable growth through four primary growth pillars: First, organic growth\nof its commercial portfolio, including continued investment in the\ncommercialization and life cycle management of its proprietary products,\nconsisting of six FDA-approved specialty plasma-derived products: KEDRAB®,\nGLASSIA®, CYTOGAM®, VARIZIG®, WINRHO SDF® and HEPAGAM B®, as well as\nKAMRAB®, and two equine-based anti-snake venom products. Second, distribution\nof third parties' pharmaceutical products in Israel & the MENA region through\nin-licensing partnerships, including the launch of several biosimilar products\nin Israel. Third, the Company is ramping up its plasma collection operations\nto support revenue growth through the sale of normal source plasma to other\nplasma-derived manufacturers, and to support its increasing demand for\nhyper-immune plasma. The Company currently owns three FDA approved operating\nplasma collection centers in the United States, in Beaumont, Houston, and San\nAntonio, Texas. Fourth, the Company aims to secure new mergers and\nacquisitions, business development, in-licensing and/or collaboration\nopportunities, which are anticipated to enhance the Company’s marketed\nproducts portfolio and leverage its financial strength and existing commercial\ninfrastructure to drive long-term profitable growth. The Company is leveraging\nits manufacturing, research and development expertise to advance the\ndevelopment and commercialization of additional product candidates, targeting\nareas of significant unmet medical need.\n\nCautionary Note Regarding Forward-Looking Statements \nThis release includes forward-looking statements within the meaning of Section\n21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe\nharbor provisions of the U.S. Private Securities Litigation Reform Act of\n1995. Forward-looking statements are statements that are not historical facts,\nincluding statements regarding: 1) the Company’s expectation for a\nsignificantly stronger remainder of 2026, 2) the Company’s reiterated 2026\nannual guidance of $200 million to $205 million in revenues and $50 million to\n$53 million of adjusted EBITDA; 3) continued increase in underlying demand for\nthe Company’s products, including KEDRAB® in the U.S. market and KAMRAB®\nand VARIZIG® in ex-U.S. markets; 4) the expansion of the Company’s entire\ncommercial product portfolio and the Distribution segment, including expansion\nto the MENA region and launch of additional biosimilar products in Israel; 5)\nramp-up of plasma collection operations at the Company’s plasma collection\ncenters and the expected contribution of such operations to the Company’s\nvertical integration and continued growth; 6) the Company’s evaluation of\nand securing near-term new business development and M&A opportunities to\nfurther enhance long-term profitable growth; 7) the anticipated enrichment of\nthe Company’s marketed products portfolio and generation of synergies with\nits existing commercial operations; and 8) the development and\ncommercialization of additional product candidates targeting areas of\nsignificant unmet medical need. Forward-looking statements are based on\nKamada’s current knowledge and its present beliefs and expectations\nregarding possible future events and are subject to risks, uncertainties and\nassumptions. Actual results and the timing of events could differ materially\nfrom those anticipated in these forward-looking statements as a result of\nseveral factors including, but not limited to the evolving nature of the\nconflicts in the Middle East and the impact of such conflicts in Israel, the\nMiddle East and the rest of the world, the impact of these conflicts on market\nconditions and the general economic, industry and political conditions in\nIsrael, the U.S. and globally, effect of tariffs on overall international\ntrade and specifically on Kamada’s ability to continue maintaining expected\nsales and profit levels in light of such tariffs, the effect on establishment\nand timing of business initiatives, Kamada’s ability to find near-term\nbusiness development and M&A transactions and leverage such opportunities and\nsuccessfully integrate such opportunities with its existing product portfolio,\nunexpected results of clinical and development programs, regulatory delays, \nand other risks detailed in Kamada’s filings with the U.S. Securities and\nExchange Commission (the “SEC”) including those discussed in its most\nrecent Annual Report on Form 20-F and in any subsequent reports on Form 6-K,\neach of which is on file or furnished with the SEC and available at the\nSEC’s website at www.sec.gov. The forward-looking statements made herein\nspeak only as of the date of this announcement and Kamada undertakes no\nobligation to update publicly such forward-looking statements to reflect\nsubsequent events or circumstances, except as otherwise required by law.\n\nCONTACTS:\nChaime Orlev\nChief Financial Officer\nIR@kamada.com\n\nBrian Ritchie\nLifeSci Advisors, LLC\n212-915-2578\nbritchie@LifeSciAdvisors.com\n\n\n\n \n CONSOLIDATED STATEMENTS OF FINANCIAL POSITION \n \n As of As of \n March 31, December 31, \n 2026 2025 2025 \n Unaudited \n U.S. Dollars in Thousands \n Assets \n Current Assets \n Cash and cash equivalents $ 32,922 $ 76,250 $ 75,469 \n Short-term investments 40,225 - - \n Trade receivables, net 36,515 27,876 27,007 \n Other accounts receivables 4,136 6,016 5,656 \n Inventories 85,437 78,358 84,943 \n Total Current Assets 199,235 188,500 193,075 \n \n Non-Current Assets \n Property, plant and equipment, net 41,463 37,406 41,367 \n Right-of-use assets 8,908 9,539 8,900 \n Intangible assets and other long-term assets 95,676 101,422 97,511 \n Goodwill 30,313 30,313 30,313 \n Contract assets 7,426 7,925 7,544 \n Total Non-Current Assets 183,786 186,605 185,635 \n Total Assets $ 383,021 $ 375,105 $ 378,710 \n Liabilities \n Current Liabilities \n Current maturities of lease liabilities $ 2,198 $ 1,780 $ 2,121 \n Current maturities of other long term liabilities 10,643 10,889 9,923 \n Trade payables 21,938 24,854 23,242 \n Other accounts payables 24,930 19,319 12,108 \n Deferred revenues 67 205 - \n Total Current Liabilities 59,776 57,047 47,394 \n \n Non-Current Liabilities \n Lease liabilities 9,443 9,318 9,440 \n Contingent consideration 20,910 21,216 20,372 \n Other long-term liabilities 29,925 32,990 30,113 \n Deferred taxes 2,866 2,061 1,651 \n Employee benefit liabilities, net 714 516 670 \n Total Non-Current Liabilities 63,858 66,101 62,246 \n \n Shareholder’s Equity \n Ordinary shares 15,078 15,074 15,078 \n Additional paid in capital net 268,360 268,160 268,283 \n Capital reserve due to translation to presentation currency (3,490 ) (3,490 ) (3,490 ) \n Capital reserve from hedges (6 ) (117 ) 177 \n Capital reserve from share-based payments 6,434 5,266 5,711 \n Capital reserve from employee benefits 374 372 385 \n Accumulated deficit (27,363 ) (33,308 ) (17,074 ) \n Total Shareholder’s Equity 259,387 251,957 269,070 \n Total Liabilities and Shareholder’s Equity $ 383,021 $ 375,105 $ 378,710 \n\n\n\n \n CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME \n \n Three months period Year Ended \n Ended March 31, \n December 31, \n 2026 2025 2025 \n Unaudited \n U.S. Dollars in Thousands \n Revenues from proprietary products $ 36,227 $ 40,017 $ 156,206 \n Revenues from distribution 9,013 4,001 24,254 \n \n Total revenues 45,240 44,018 180,460 \n \n Cost of revenues from proprietary products 18,202 19,738 83,928 \n Cost of revenues from distribution 7,922 3,531 20,125 \n \n Total cost of revenues 26,124 23,269 104,053 \n \n Gross profit 19,116 20,749 76,407 \n \n Research and development expenses 2,181 4,246 12,995 \n Selling and marketing expenses 4,753 4,510 18,455 \n General and administrative expenses 5,229 4,198 18,724 \n Other expenses - - - \n Operating income (loss) 6,953 7,795 26,233 \n \n Financial income 425 534 1,921 \n Income (expenses) in respect of currency exchange differences and derivatives instruments, net (261 ) 251 (1,171 ) \n Financial Income (expense) in respect of contingent consideration and other long- term liabilities. (1,538 ) (1,775 ) (2,652 ) \n Financial expenses (188 ) (192 ) (864 ) \n Income before tax on income 5,391 6,613 23,467 \n Taxes on income (1,259 ) (2,649 ) (3,269 ) \n \n Net Income (loss) $ 4,132 $ 3,964 $ 20,198 \n \n Other Comprehensive Income (loss): \n Amounts that will be or that have been reclassified to profit or loss when specific conditions are met \n Gain (loss) on cash flow hedges 90 (114 ) 1,069 \n Net amounts transferred to the statement of profit or loss for cash flow hedges (273 ) (54 ) (943 ) \n Items that will not be reclassified to profit or loss in subsequent periods: \n Remeasurement gain (loss) from defined benefit plan (11 ) 8 21 \n Total comprehensive income (loss) $ 3,938 $ 3,804 $ 20,345 \n \n Earnings per share attributable to equity holders of the Company: \n Basic net earnings per share $ 0.07 $ 0.07 $ 0.35 \n Diluted net earnings per share $ 0.07 $ 0.07 $ 0.35 \n\n\n\n \n CONSOLIDATED STATEMENTS OF CASH FLOWS \n \n Three months period Year Ended \n Ended March 31, December 31, \n 2026 2025 2025 \n Unaudited Unaudited \n U.S. Dollars in Thousands \n Cash Flows from Operating Activities \n Net income $ 4,132 $ 3,964 $ 20,198 \n \n Adjustments to reconcile net income to net cash provided by operating activities: \n \n Adjustments to the profit or loss items: \n \n Depreciation and amortization 3,851 3,611 14,918 \n Financial expenses, net 1,562 1,182 2,766 \n Cost of share-based payment 800 175 845 \n Taxes on income 1,259 2,649 3,269 \n Gain from sale of property and equipment - (8 ) (8 ) \n Change in employee benefit liabilities, net 31 16 183 \n 7,503 7,625 21,973 \n Changes in asset and liability items: \n \n Increase in trade receivables, net (9,757 ) (6,557 ) (5,407 ) \n Decrease (increase) in other accounts receivables 1,288 (671 ) (535 ) \n Decrease (increase) in inventories (494 ) 461 (6,124 ) \n Decrease in deferred expenses 119 94 475 \n Decrease in trade payables (1,446 ) (3,748 ) (6,870 ) \n Increase (decrease) in other accounts payables (1,897 ) (2,044 ) 950 \n Increase (decrease) in deferred revenues 67 34 (171 ) \n (12,120 ) (12,431 ) (17,682 ) \n Cash received (paid) during the period for: \n \n Interest paid (187 ) (176 ) (864 ) \n Interest received 425 534 1,921 \n Taxes paid (44 ) (29 ) (56 ) \n 194 329 1,001 \n \n Net cash provided by (used in) operating activities $ (291 ) $ (513 ) $ 25,490 \n\n\n\n \n CONSOLIDATED STATEMENTS OF CASH FLOWS (continued) \n \n Three months period Year Ended \n Ended March, 31 December 31, \n 2026 2025 2025 \n Unaudited Unaudited \n U.S. Dollars in Thousands \n Cash Flows from Investing Activities \n Purchase of property and equipment and intangible assets $ (973 ) $ (1,468 ) $ (9,846 ) \n Investment in short term investments, net (40,225 ) - - \n Proceeds from sale of property and equipment - 8 8 \n Net cash used in investing activities (41,198 ) (1,460 ) (9,838 ) \n \n Cash Flows from Financing Activities \n \n Proceeds from exercise of share base payments - 46 50 \n Repayment of lease liabilities (389 ) (14 ) (972 ) \n Dividends Paid - - (11,534 ) \n Repayment of other long-term liabilities (467 ) (325 ) (5,889 ) \n Net cash used in financing activities (856 ) (293 ) (18,345 ) \n \n Exchange differences on balances of cash and cash equivalent (202 ) 81 (273 ) \n \n Decrease in cash and cash equivalents (42,547 ) (2,185 ) (2,966 ) \n \n Cash and cash equivalents at the beginning of the period 75,469 78,435 78,435 \n \n Cash and cash equivalents at the end of the period $ 32,922 $ 76,250 $ 75,469 \n \n Significant non-cash transactions \n Right-of-use asset recognized with corresponding lease liability $ 439 $ 352 $ 1,221 \n Purchase of property and equipment and Intangible assets $ 683 $ 1,103 $ 2,523 \n\n\n\n \n NON-IFRS MEASURES \n \n Three months period Year Ended \n Ended March 31, December 31, \n 2026 2025 2025 \n U.S. Dollars in thousands \n Net income $ 4,132 $ 3,964 $ 20,198 \n Taxes on income 1,259 2,649 3,269 \n Financial expense, net 1,562 1,182 2,766 \n Depreciation and amortization expense 3,851 3,611 14,924 \n Non-cash share-based compensation expenses 800 175 845 \n Adjusted EBITDA $ 11,604 $ 11,581 $ 42,002 \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/6334b598-e958-4ac2-b196-aac2c24ea458)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-13T11:00:02.601617439Z","server_sent_at_ms":1778670002601},"received_at":"2026-05-13T11:00:02.747Z","source_url":null},"analysis":{"id":"23749","press_release_id":"33144","analysis_json":{"industry":{"label":"Biotechnology","sector":"Health Care"},"redFlags":[],"eventType":"earnings","narrative":"Kamada reported Q1-2026 revenue of $45.2 million, up 3% year-over-year, with adjusted EBITDA of $11.6 million, representing a robust 26% margin of revenue.\n\nNet income for the quarter was $4.1 million, up 4% year-over-year. The company affirmed its 2026 guidance of $200 million to $205 million in revenues and $50 million to $53 million in adjusted EBITDA.\n\nThe Q1 results were impacted by a temporary shipment delay of a single order, which was subsequently delivered in April. Despite this, underlying demand for the company’s products continues to increase, supporting the expectation for a significantly stronger remainder of 2026.\n\nKamada also announced the FDA approval of its San Antonio plasma collection center and the payment of a $0.25 cash dividend per share, totaling approximately $14.4 million.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Kamada posts solid Q1 and affirms 2026 guidance, with strong demand and FDA approval for plasma center."},"keyFigures":{"eps":0.07,"revenue":45240000,"guidance":"2026 revenues $200M-$205M, adjusted EBITDA $50M-$53M","revenueYoy":"3%","customDimensions":{"gross_margin":"42%","gross_profit":19116000,"adjusted_ebitda":11600000,"operating_income":6953000,"short_term_investments":40225000,"cash_and_cash_equivalents":32922000}},"quotedText":"Our operational and financial performance in 2026 is off to a solid start, with first quarter revenues and adjusted EBITDA in line with our expectations","namedEntities":{"people":[{"name":"Amir London","role":"Chief Executive Officer"}],"products":["KEDRAB®","GLASSIA®","CYTOGAM®","VARIZIG®","WINRHO SDF®","HEPAGAM B®","KAMRAB®"],"companies":[{"name":"Kamada Ltd.","ticker":"KMDA"},{"name":"FIMI Opportunity Funds","relationship":"controlling shareholder"},{"name":"LifeSci Advisors, LLC","relationship":"IR advisor"}],"dollarAmounts":[{"amount":"$45.2 Million","context":"Q1-2026 revenue"},{"amount":"$11.6 Million","context":"Q1-2026 adjusted EBITDA"},{"amount":"$4.1 Million","context":"Q1-2026 net income"},{"amount":"$14.4 Million","context":"cash dividend paid"},{"amount":"$73.1 Million","context":"cash and cash equivalents and short-term investments as of March 31, 2026"},{"amount":"$75.5 Million","context":"cash and cash equivalents and short-term investments as of December 31, 2025"}]},"materialImpact":{"score":4,"reasoning":"Kamada reported a solid Q1 with revenue and adjusted EBITDA in line with expectations, and affirmed its 2026 guidance. The company expects a significantly stronger remainder of the year, driven by increased demand for its products and ongoing business development efforts."},"tickerRelevance":{"others":[],"primary":"KMDA"},"globalImportance":45,"audienceRelevance":60,"eventTypeSecondary":["guidance_update"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"earnings and guidance update","sectorWeight":"Health Care","householdBrandBoost":"moderate","marketCapAdjustment":"positive"}},"event_type":"earnings","event_type_secondary":["guidance_update"],"sentiment":"bullish","material_impact_score":4,"narrative":"Kamada reported Q1-2026 revenue of $45.2 million, up 3% year-over-year, with adjusted EBITDA of $11.6 million, representing a robust 26% margin of revenue.\n\nNet income for the quarter was $4.1 million, up 4% year-over-year. The company affirmed its 2026 guidance of $200 million to $205 million in revenues and $50 million to $53 million in adjusted EBITDA.\n\nThe Q1 results were impacted by a temporary shipment delay of a single order, which was subsequently delivered in April. Despite this, underlying demand for the company’s products continues to increase, supporting the expectation for a significantly stronger remainder of 2026.\n\nKamada also announced the FDA approval of its San Antonio plasma collection center and the payment of a $0.25 cash dividend per share, totaling approximately $14.4 million.","key_figures":{"eps":0.07,"revenue":45240000,"guidance":"2026 revenues $200M-$205M, adjusted EBITDA $50M-$53M","revenueYoy":"3%","customDimensions":{"gross_margin":"42%","gross_profit":19116000,"adjusted_ebitda":11600000,"operating_income":6953000,"short_term_investments":40225000,"cash_and_cash_equivalents":32922000}},"named_entities":{"people":[{"name":"Amir London","role":"Chief Executive Officer"}],"products":["KEDRAB®","GLASSIA®","CYTOGAM®","VARIZIG®","WINRHO SDF®","HEPAGAM B®","KAMRAB®"],"companies":[{"name":"Kamada Ltd.","ticker":"KMDA"},{"name":"FIMI Opportunity Funds","relationship":"controlling shareholder"},{"name":"LifeSci Advisors, LLC","relationship":"IR advisor"}],"dollarAmounts":[{"amount":"$45.2 Million","context":"Q1-2026 revenue"},{"amount":"$11.6 Million","context":"Q1-2026 adjusted EBITDA"},{"amount":"$4.1 Million","context":"Q1-2026 net income"},{"amount":"$14.4 Million","context":"cash dividend paid"},{"amount":"$73.1 Million","context":"cash and cash equivalents and short-term investments as of March 31, 2026"},{"amount":"$75.5 Million","context":"cash and cash equivalents and short-term investments as of December 31, 2025"}]},"model_name":"Qwen/Qwen2.5-72B-Instruct-AWQ","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-13T11:03:13.815Z","global_importance":45,"audience_relevance":60,"importance_components":{"tickerTier":"mid-cap","eventGravity":"earnings and guidance update","sectorWeight":"Health Care","householdBrandBoost":"moderate","marketCapAdjustment":"positive"}},"durationMs":52038,"modelName":"george-droid-qwen-72b"}}