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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and 4D Molecular Therapeutics, Inc. (FDMT). Click either name above to swap in a different company.
ADMA BIOLOGICS, INC. is the larger business by last-quarter revenue ($139.2M vs $85.1M, roughly 1.6× 4D Molecular Therapeutics, Inc.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 22.8%, a 12.7% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 18.4%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $28.5M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 30.4%).
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.
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
ADMA vs FDMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $85.1M |
| Net Profit | $49.4M | $19.4M |
| Gross Margin | 63.8% | — |
| Operating Margin | 45.1% | 17.3% |
| Net Margin | 35.5% | 22.8% |
| Revenue YoY | 18.4% | 8508900.0% |
| Net Profit YoY | -55.9% | 139.1% |
| EPS (diluted) | $0.20 | $0.43 |
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.
| Q4 25 | $139.2M | $85.1M | ||
| Q3 25 | $134.2M | $90.0K | ||
| Q2 25 | $122.0M | $15.0K | ||
| Q1 25 | $114.8M | $14.0K | ||
| Q4 24 | $117.5M | $1.0K | ||
| Q3 24 | $119.8M | $3.0K | ||
| Q2 24 | $107.2M | $5.0K | ||
| Q1 24 | $81.9M | $28.0K |
| Q4 25 | $49.4M | $19.4M | ||
| Q3 25 | $36.4M | $-56.9M | ||
| Q2 25 | $34.2M | $-54.7M | ||
| Q1 25 | $26.9M | $-48.0M | ||
| Q4 24 | $111.9M | — | ||
| Q3 24 | $35.9M | $-43.8M | ||
| Q2 24 | $32.1M | $-35.0M | ||
| Q1 24 | $17.8M | $-32.4M |
| Q4 25 | 63.8% | — | ||
| Q3 25 | 56.3% | — | ||
| Q2 25 | 55.1% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.9% | — | ||
| Q3 24 | 49.8% | — | ||
| Q2 24 | 53.6% | — | ||
| Q1 24 | 47.8% | — |
| Q4 25 | 45.1% | 17.3% | ||
| Q3 25 | 38.0% | -67983.3% | ||
| Q2 25 | 35.1% | -396373.3% | ||
| Q1 25 | 30.4% | -383007.1% | ||
| Q4 24 | 32.6% | — | ||
| Q3 24 | 33.1% | -1704400.0% | ||
| Q2 24 | 36.6% | -849120.0% | ||
| Q1 24 | 26.7% | -136200.0% |
| Q4 25 | 35.5% | 22.8% | ||
| Q3 25 | 27.1% | -63195.6% | ||
| Q2 25 | 28.1% | -364386.7% | ||
| Q1 25 | 23.4% | -342657.1% | ||
| Q4 24 | 95.2% | — | ||
| Q3 24 | 30.0% | -1461433.3% | ||
| Q2 24 | 29.9% | -699060.0% | ||
| Q1 24 | 21.7% | -115717.9% |
| Q4 25 | $0.20 | $0.43 | ||
| Q3 25 | $0.15 | $-1.01 | ||
| Q2 25 | $0.14 | $-0.98 | ||
| Q1 25 | $0.11 | $-0.86 | ||
| Q4 24 | $0.45 | — | ||
| Q3 24 | $0.15 | $-0.79 | ||
| Q2 24 | $0.13 | $-0.63 | ||
| Q1 24 | $0.08 | $-0.66 |
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 | $402.7M |
| Total DebtLower is stronger | $72.1M | — |
| Stockholders' EquityBook value | $477.3M | $505.7M |
| Total Assets | $624.2M | $566.7M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $402.7M | ||
| Q3 25 | $61.4M | $305.1M | ||
| Q2 25 | $90.3M | $293.2M | ||
| Q1 25 | $71.6M | $321.4M | ||
| Q4 24 | $103.1M | $424.9M | ||
| Q3 24 | $86.7M | $501.9M | ||
| Q2 24 | $88.2M | $541.9M | ||
| Q1 24 | $45.3M | $525.9M |
| Q4 25 | $72.1M | — | ||
| Q3 25 | $72.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $72.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $477.3M | $505.7M | ||
| Q3 25 | $431.2M | $369.0M | ||
| Q2 25 | $398.3M | $420.9M | ||
| Q1 25 | $373.4M | $469.7M | ||
| Q4 24 | $349.0M | $510.6M | ||
| Q3 24 | $231.9M | $552.9M | ||
| Q2 24 | $188.3M | $588.3M | ||
| Q1 24 | $153.7M | $600.6M |
| Q4 25 | $624.2M | $566.7M | ||
| Q3 25 | $568.7M | $424.0M | ||
| Q2 25 | $558.4M | $473.6M | ||
| Q1 25 | $510.6M | $515.7M | ||
| Q4 24 | $488.7M | $560.4M | ||
| Q3 24 | $390.6M | $604.0M | ||
| Q2 24 | $376.4M | $620.1M | ||
| Q1 24 | $350.9M | $629.9M |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $28.6M |
| Free Cash FlowOCF − Capex | $34.6M | $28.5M |
| FCF MarginFCF / Revenue | 24.8% | 33.5% |
| Capex IntensityCapex / Revenue | 0.8% | 0.1% |
| Cash ConversionOCF / Net Profit | 0.72× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $-109.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $28.6M | ||
| Q3 25 | $13.3M | $-46.5M | ||
| Q2 25 | $21.1M | $-43.4M | ||
| Q1 25 | $-19.7M | $-47.8M | ||
| Q4 24 | $50.2M | $-134.6M | ||
| Q3 24 | $25.0M | $-29.4M | ||
| Q2 24 | $45.6M | $-30.2M | ||
| Q1 24 | $-2.2M | $-29.1M |
| Q4 25 | $34.6M | $28.5M | ||
| Q3 25 | $-1.1M | $-46.6M | ||
| Q2 25 | $18.7M | $-43.4M | ||
| Q1 25 | $-24.4M | $-48.4M | ||
| Q4 24 | $47.5M | $-138.4M | ||
| Q3 24 | $24.0M | $-31.2M | ||
| Q2 24 | $43.6M | $-30.6M | ||
| Q1 24 | $-4.6M | $-29.8M |
| Q4 25 | 24.8% | 33.5% | ||
| Q3 25 | -0.8% | -51765.6% | ||
| Q2 25 | 15.3% | -289620.0% | ||
| Q1 25 | -21.2% | -345635.7% | ||
| Q4 24 | 40.4% | -13837100.0% | ||
| Q3 24 | 20.0% | -1038966.7% | ||
| Q2 24 | 40.7% | -611840.0% | ||
| Q1 24 | -5.6% | -106421.4% |
| Q4 25 | 0.8% | 0.1% | ||
| Q3 25 | 10.7% | 101.1% | ||
| Q2 25 | 2.0% | 440.0% | ||
| Q1 25 | 4.1% | 4507.1% | ||
| Q4 24 | 2.3% | 378600.0% | ||
| Q3 24 | 0.9% | 59266.7% | ||
| Q2 24 | 1.9% | 6980.0% | ||
| Q1 24 | 2.9% | 2535.7% |
| Q4 25 | 0.72× | 1.47× | ||
| Q3 25 | 0.36× | — | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | -0.73× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 1.42× | — | ||
| Q1 24 | -0.12× | — |
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% |
FDMT
Segment breakdown not available.
