Record-Breaking Performance: Israeli Pharma Giant Kamada Reports Strongest Results in History
With revenues of over $100 million in the first half of the year and a sharp jump in net profit, the Israeli company reports unprecedented results and marks its next target.
Kamada, which specializes in the development and production of plasma-based drugs for the treatment of severe and rare diseases, concludes the first half of 2026 with the strongest results in its history. The company recorded double-digit growth in revenues and profitability, alongside a significant improvement in cash flow and continued expansion of business activity.
Kamada's revenues in the first half of the year totaled $100.2 million, an increase of 13% compared to the same period last year. In the second quarter alone, revenues totaled $54.9 million, a jump of 23%. Growth was recorded across the entire product portfolio, with sales of KEDRAB in the United States and the products VARIZIG and HEPAGAM standing out, among others.
Significant strengthening was also recorded in the profit line. Adjusted EBITDA in the first half totaled $25.7 million, an increase of 14% compared to the previous year. In the second quarter, the figure reached $14.1 million, an increase of 29%. The adjusted EBITDA margin stood at approximately 26% of revenues.
Net profit in the first half totaled $13.4 million, an increase of 18%, while in the second quarter a net profit of $9.3 million was recorded, an increase of 26%. At the same time, the company presented a positive cash flow from current operations of $17.8 million in the first half, compared to $7.5 million in the same period last year.
Amir London, CEO of Kamada, said:
"The first half of the year was the strongest in Kamada's history with revenues of $100.2 million and an adjusted EBITDA of $25.7 million, representing a notable profit margin of 26% of revenues."
Alongside the results, Kamada reaffirms its forecast for 2026. The company expects annual revenues of $200 to $205 million and an adjusted EBITDA of $50 to $53 million. This forecast reflects an annual growth of 12% in revenues and 23% in adjusted EBITDA.
One of the key moves reported by the company is the signing of a new three-year agreement worth approximately $50 million for the supply of plasma to a leading biopharma company. Sales under the agreement are expected to begin in the fourth quarter of 2026. Kamada is simultaneously continuing to increase the rate of plasma collection at its centers in Texas, with the goal of supporting the new agreement.
At the same time, the company continues to expand its operations in the Middle East and North Africa region, alongside the launch of additional biosimilar products in the Israeli market. The company notes that the expansion of distribution activity in the MENA region is part of the strategy to increase its activity in additional markets.
During the second quarter, Kamada paid a cash dividend of $14.4 million. At the same time, the company holds a cash cushion of approximately $70.1 million and continues to examine opportunities for business development, mergers, and acquisitions.
London noted that the demand for the company's products continues to grow and that the focus in the second half of the year will be on increasing sales of the entire commercial portfolio, expanding distribution activity, and continuing investment in plasma collection infrastructure. According to him, mergers and acquisitions also remain a key goal, with the aim of expanding the product portfolio and accelerating the company's growth rate in the coming years.
