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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and Bandwidth Inc. (BAND). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $139.2M, roughly 1.5× ADMA BIOLOGICS, INC.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 1.9%, a 33.6% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 18.4%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $-1.0M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 9.7%).
ADMA Biologics Inc. is a biopharmaceutical enterprise focused on the research, development, manufacturing and commercialization of specialty plasma-derived immunoglobulin therapies. It primarily operates in the United States, catering to patients with primary immunodeficiency and other immune-related disorders, healthcare providers and medical institutions across its core immune health therapeutic segment.
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
ADMA vs BAND — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $208.8M |
| Net Profit | $49.4M | $4.0M |
| Gross Margin | 63.8% | 37.3% |
| Operating Margin | 45.1% | 60.5% |
| Net Margin | 35.5% | 1.9% |
| Revenue YoY | 18.4% | 20.1% |
| Net Profit YoY | -55.9% | 200.0% |
| EPS (diluted) | $0.20 | $-0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $208.8M | ||
| Q4 25 | $139.2M | $207.7M | ||
| Q3 25 | $134.2M | $191.9M | ||
| Q2 25 | $122.0M | $180.0M | ||
| Q1 25 | $114.8M | $174.2M | ||
| Q4 24 | $117.5M | $210.0M | ||
| Q3 24 | $119.8M | $193.9M | ||
| Q2 24 | $107.2M | $173.6M |
| Q1 26 | — | $4.0M | ||
| Q4 25 | $49.4M | — | ||
| Q3 25 | $36.4M | $-1.2M | ||
| Q2 25 | $34.2M | $-4.9M | ||
| Q1 25 | $26.9M | $-3.7M | ||
| Q4 24 | $111.9M | — | ||
| Q3 24 | $35.9M | $413.0K | ||
| Q2 24 | $32.1M | $4.1M |
| Q1 26 | — | 37.3% | ||
| Q4 25 | 63.8% | 37.6% | ||
| Q3 25 | 56.3% | 38.5% | ||
| Q2 25 | 55.1% | 39.8% | ||
| Q1 25 | 53.2% | 41.0% | ||
| Q4 24 | 53.9% | 36.4% | ||
| Q3 24 | 49.8% | 37.7% | ||
| Q2 24 | 53.6% | 37.3% |
| Q1 26 | — | 60.5% | ||
| Q4 25 | 45.1% | -1.9% | ||
| Q3 25 | 38.0% | -1.0% | ||
| Q2 25 | 35.1% | -2.1% | ||
| Q1 25 | 30.4% | -2.7% | ||
| Q4 24 | 32.6% | -1.3% | ||
| Q3 24 | 33.1% | -0.5% | ||
| Q2 24 | 36.6% | -3.5% |
| Q1 26 | — | 1.9% | ||
| Q4 25 | 35.5% | — | ||
| Q3 25 | 27.1% | -0.6% | ||
| Q2 25 | 28.1% | -2.7% | ||
| Q1 25 | 23.4% | -2.1% | ||
| Q4 24 | 95.2% | — | ||
| Q3 24 | 30.0% | 0.2% | ||
| Q2 24 | 29.9% | 2.3% |
| Q1 26 | — | $-0.08 | ||
| Q4 25 | $0.20 | $-0.10 | ||
| Q3 25 | $0.15 | $-0.04 | ||
| Q2 25 | $0.14 | $-0.16 | ||
| Q1 25 | $0.11 | $-0.13 | ||
| Q4 24 | $0.45 | $0.27 | ||
| Q3 24 | $0.15 | $0.01 | ||
| Q2 24 | $0.13 | $-0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $87.6M | $47.3M |
| Total DebtLower is stronger | $72.1M | — |
| Stockholders' EquityBook value | $477.3M | $405.7M |
| Total Assets | $624.2M | $984.2M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $47.3M | ||
| Q4 25 | $87.6M | $111.3M | ||
| Q3 25 | $61.4M | $80.4M | ||
| Q2 25 | $90.3M | $68.1M | ||
| Q1 25 | $71.6M | $41.7M | ||
| Q4 24 | $103.1M | $83.8M | ||
| Q3 24 | $86.7M | $79.9M | ||
| Q2 24 | $88.2M | $76.4M |
| Q1 26 | — | — | ||
| Q4 25 | $72.1M | — | ||
| Q3 25 | $72.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $72.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $405.7M | ||
| Q4 25 | $477.3M | $400.0M | ||
| Q3 25 | $431.2M | $392.7M | ||
| Q2 25 | $398.3M | $384.5M | ||
| Q1 25 | $373.4M | $345.4M | ||
| Q4 24 | $349.0M | $312.5M | ||
| Q3 24 | $231.9M | $336.6M | ||
| Q2 24 | $188.3M | $307.4M |
| Q1 26 | — | $984.2M | ||
| Q4 25 | $624.2M | $1.1B | ||
| Q3 25 | $568.7M | $1.0B | ||
| Q2 25 | $558.4M | $1.0B | ||
| Q1 25 | $510.6M | $964.4M | ||
| Q4 24 | $488.7M | $989.2M | ||
| Q3 24 | $390.6M | $1.0B | ||
| Q2 24 | $376.4M | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $35.6M | — |
| Free Cash FlowOCF − Capex | $34.6M | $-1.0M |
| FCF MarginFCF / Revenue | 24.8% | -0.5% |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | 0.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $35.6M | $38.6M | ||
| Q3 25 | $13.3M | $22.2M | ||
| Q2 25 | $21.1M | $31.7M | ||
| Q1 25 | $-19.7M | $-3.1M | ||
| Q4 24 | $50.2M | $36.5M | ||
| Q3 24 | $25.0M | $20.5M | ||
| Q2 24 | $45.6M | $24.4M |
| Q1 26 | — | $-1.0M | ||
| Q4 25 | $34.6M | — | ||
| Q3 25 | $-1.1M | — | ||
| Q2 25 | $18.7M | — | ||
| Q1 25 | $-24.4M | — | ||
| Q4 24 | $47.5M | — | ||
| Q3 24 | $24.0M | — | ||
| Q2 24 | $43.6M | — |
| Q1 26 | — | -0.5% | ||
| Q4 25 | 24.8% | — | ||
| Q3 25 | -0.8% | — | ||
| Q2 25 | 15.3% | — | ||
| Q1 25 | -21.2% | — | ||
| Q4 24 | 40.4% | — | ||
| Q3 24 | 20.0% | — | ||
| Q2 24 | 40.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | — | ||
| Q3 25 | 10.7% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 4.1% | — | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 1.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | -0.73× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | 49.55× | ||
| Q2 24 | 1.42× | 6.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADMA
| ADMA Bio Manufacturing Segment | $123.1M | 88% |
| Other | $16.0M | 12% |
BAND
Segment breakdown not available.
