Cash $89 Monday: -1.95% S&P +.18% Solar searching for a bottom.
11/08/2023 15:14:25 Bought 15 PESI @ 7.41 -111.15
Pretty much took the week off. Good earnings from two little stocks.
ADMA. Call on Tikr: ADMA $3.77 -$0.06 -1.57% - TIKR Terminal
"Total third quarter revenues reached $67.3 million, representing an impressive 64% growth rate year over-
year. This rapid growth enabled a 98% quarter-over-quarter increase in adjusted EBITDA to
$12.7 million. Furthermore, it gives me great pleasure to announce that for the first time in
ADMA's history, we are profitable with GAAP net income reaching $2.6 million during the third
quarter. We also generated positive free cash flow for the first time in corporate history,
totaling $11.6 million during the quarter. These milestone results are a testament to the
efficiency of our organization and our relentless focus on maintaining top-tier revenue growth
while judiciously managing expenses. We fully anticipate this positive trajectory will continue to
drive earnings growth for the foreseeable future. Building on the momentum we've established this
year; we've revised our total revenue guidance higher yet again for fiscal years 2023 through
2025. We now anticipate generating revenues during these periods of more than $250 million, $290
million, and $335 million, respectively."
TBLA. Call on TIKR: TBLA $3.86 $0.11 2.93% - TIKR Terminal
"Financially, we had a strong performance in Q3, beating the high end of our guidance across all metrics. We
achieved $125 million in ex-TAC gross profit, $23 million in adjusted EBITDA and $23 million in free cash
flow. We're also excited to raise the midpoint of our full year 2023 guidance for adjusted EBITDA and non-
GAAP net income. Free cash flow over the last 12 months is $55 million, which is, 3x what it was a year ago
for the same time period. 2024 is basically here. And given how we're executing on our key business
priorities, we're reiterating our 2024 guidance of over $200 million in adjusted EBITDA and over $100
million of free cash flow.
Cash and cash equivalents plus our short-term investments increased from $246.9 million at the end of Q2
to $250.7 million at the end of Q3 and remained above our debt principal balance of $202.7 million. I would
note that the $202.7 million debt balance reported at the end of Q3 was before we repaid an additional $50
million in Q4, which I will discuss in a moment.
I also want to provide an update on our share buyback and debt repayment programs. As you probably
recall, we announced that we would buy back up to $40 million of shares in 2023 and that we intended to
repay up to an additional $50 million of our long-term debt in the second half of the year. The share buyback
program was initiated on June 1, and as of September 30, we repurchased a total of approximately 6.7
million shares at an average price per share of $3.45. We continued to repurchase shares in Q4. And as of
Friday, November 3, we had repurchased a total of approximately 3.3 million additional shares at an
average price of $3.69.Additionally, in October, we voluntarily prepaid another $50 million of our long-term
debt, which means that we have voluntarily prepaid a total of $141 million since Q4 2022. We are also
announcing an expansion of our share repurchase program of up to an additional $40 million as well as our
intention to pay down up to $30 million more of our long-term debt in the first half of 2024.
We are also excited about the step change we are expecting in our business as reflected by reiterating our
2024 targets of at least $200 million of adjusted EBITDA and at least $100 million of free cash flow." |
