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KMDABullishEarningsShort Term

High materiality9/10

Kamada Reports Record-High First Half and Second Quarter 2026 Financial Results, Representing Double-Digit Profitable Growth and the Strongest in Kamada's History; Affirms 2026 Annual Guidance

StockNews.AIAug 12, 7:05 AM EDT1 source

Trading thesisImportance 9/10

Bullish KMDA into 2H 2026 as guidance remains intact and the $50M plasma deal ramps.

AI summary

What happened and why it matters

Kamada posted record first-half 2026 revenue of $100.2M and Adjusted EBITDA of $25.7M, reaffirming its guidance of $200–$205M in revenue and $50–$53M in EBITDA for 2026. The company also announced a three-year, roughly $50M plasma-supply deal and ongoing growth initiatives in distribution and plasma collection, suggesting durable double-digit profitability and improved cash flow into 2H 2026.

Guidance reaffirmation supports multiple expansion with visibility.
~$50M three-year plasma deal adds revenue visibility beyond base portfolio.
Strength in U.S. demand for KEDRAB, VARIZIG, HEPAGAM B.
Israel/MENA biosimilar/ distribution expansion could accelerate near-term growth.

Sentiment rationale

Strong top-line growth, cash generation, and a meaningful multi-year plasma deal reduce execution risk and support a higher multiple, though macro risks remain a consideration.

Key facts

01
H1 2026 revenue $100.2M, up 13% YoY. EBITDA $25.7M, up 14%.
02
Q2 2026 revenue $54.9M, up 23% YoY. Adj EBITDA $14.1M, up 29%.
03
Reaffirms 2026 guidance: $200–$205M revenue; $50–$53M Adj EBITDA.
04
First-time three-year plasma supply deal ~ $50M.
05
Operating cash flow $17.8M in H1 2026; cash & equivalents $70.1M at 6/30/2026.

Earnings

Category: Earnings. The release centers on Q2/H1 results, cash flow, reaffirmed guidance, and strategic deals—key catalysts for KMDA’s valuation and near-term execution risk.