Kamada stock price drops more than 2% due to Q4 earnings falling short of expectations

Rehovot, Israel — On Wednesday, Kamada Ltd. (NASDAQ: KMDA) announced its fourth-quarter results that fell short of analyst expectations.

The company’s stock declined 2.46% in pre-market trading.

The biopharmaceutical company’s fourth-quarter adjusted earnings per share were $0.06, below the analyst consensus of $0.10 by $0.04.

Revenue reached $44.68 million, below the expected $45.42 million but up 15% from $39 million in the same period last year. For the full fiscal year 2025, Kamada reported revenue of $180.5 million, a 12% year-over-year increase, and net profit of $20.2 million, or $0.35 per diluted share, compared to $14.5 million, or $0.25 per diluted share, in 2024.

Despite the quarterly results missing expectations, the company reaffirmed its 2026 guidance, projecting revenue between $200 million and $205 million, and adjusted EBITDA between $50 million and $53 million.

The midpoint of the revenue guidance, $202.5 million, represents a 13% increase over 2025, while the midpoint of adjusted EBITDA, $51.5 million, indicates a 23% growth.

CEO Amir London stated, “Our operational and financial performance in 2025 was outstanding, with record total revenue of $180.5 million, up 12% year-over-year, and record adjusted EBITDA of $42 million, up 23%.”

The company generated $25.5 million in cash from operating activities in 2025, with a year-end cash balance of $75.5 million. Kamada also adopted an annual cash dividend policy and announced a dividend of $0.25 per share, totaling approximately $14.4 million, to be paid on April 6, 2026.

Full-year adjusted EBITDA reached $42 million, a 23% increase from $34.1 million in 2024.

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