KMDA

Image source: The Motley Fool. Wednesday, Aug. 12, 2026 at 8:30 a.m. ET Chief Executive Officer - Amir London Chief Financial Officer - Chaime Orlev Need a quote from a Motley Fool analyst? Email [email protected] Operator: Greetings, and welcome to the Kamada Ltd., Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note, this conference is being recorded. I would now like to turn the conference over to Brian Ritchie, Managing Director of LifeSci Advisors. Please go ahead, sir. Brian Ritchie: Thank you, operator. This is Brian Ritchie with LifeSci Advisors. Thank you all for participating in today's call. Joining me from Kamada are Amir London, Chief Executive Officer; and Chaime Orlev, Chief Financial Officer. Earlier today, Kamada announced its financial results for the 3 and 6 months ended June 30, 2026. If you have not received this news release, please go to the Investors page of the company's website at www.kamada.com. Before we begin, I would like to caution that comments made during this conference call by management will contain forward-looking statements that involve risks and uncertainties regarding the operations and future results of Kamada. I encourage you to review the company's filings with the Securities and Exchange Commission, including, without limitation, the company's Forms 20-F and 6-K, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements. Furthermore, the content of this conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, Wednesday, August 12, 2026. Kamada undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this conference call. With that said, it's my pleasure to turn the call over to Amir London, CEO. Amir? Amir London: Thank you, Brian, and thanks also to our investors and analysts for your interest in Kamada and for participating in today's call. I'm pleased to report that we continue to execute on our strategic multi-year growth plan, delivering record high operational and financial performance during the first half of 2026, with strong double-digit growth in revenues and adjusted EBITDA for both the 6 months and second quarter reporting periods. Before proceeding to the specifics, I'd like to point out that when examining and analyzing the company performance during recent months and without future binary events, it's clear that the company's growth strategy model based on our well-defined 4 growth pillars is working effectively. We are seeing growth and improvement across all financial metrics, including expanded sales and revenues, operational synergies and disciplined management of expenses. enhanced profitability and EBITDA, and a strengthened ability to generate cash from operations. It's important to note that the significant growth we are currently experiencing is driven solely by our existing commercial product portfolio, organic growth. And that once we execute the acquisitions and M&A transactions that are also part of our strategic plan, this growth will accelerate even further, resulting in enhanced financial metrics. With that said, let's move on now to our first 6 months performance. Total revenues were a record high of $100.2 million for the first half, an increase of approximately 13% year-over-year. Adjusted EBITDA was a record high of $25.7 million, up 14% year-over-year and representing a notable 26% margin of revenues. For the second quarter of the year, total revenues were $54.9 million, the strongest in our history, representing a 23% year-over-year increase. Adjusted EBITDA was $14.1 million, up 29% year-over-year and representing a 26% margin of revenues. Net income for the first half was $13.4 million and 18% up year-over-year, and second quarter net income was $9.3 million, up 26% year-over-year. Our revenues and adjusted EBITDA for the first 6 months of the year represent approximately 50% of our 2026 annual guidance. Based on our first half performance, we are reiterating our 2026 annual guidance of $200 million to $205 million in revenues and $50 million to $53 million of adjusted EBITDA, respectively, representing 12% and 23% growth when comparing 2026 guidance midpoints to 2025 results. As described on previous calls, we continue to be focused on our 4 growth drivers on a path for delivering continuous double-digit profitable annual growth. We are focused on continuing sales growth of our entire commercial portfolio, including our 6 FDA-approved specialty plasma-derived products. In our Distribution segment, growth is supported by the launch of additional biosimilar products in the Israeli market, as well as the expansion of the Distribution business to the MENA region, which is ongoing with new distribution agreements being signed. We continue to ramp up plasma collection at our Texas-based facilities in support of our new 3-year $50 million supply agreement and expect to commence plasma sales by year-end. Lastly, securing new business development and M&A opportunities remains a core focus. And as already said, we are committed to expanding our current commercial portfolio and accelerating our current double-digit organic growth. The underlying demand for our products, including for KEDRAB in the U.S. market, as well as VARIZIG and HEPAGAM, continues to increase. Our lead product continues to be our anti-rabies immunoglobulin, KEDRAB, which is being distributed in the U.S. through our collaboration with Kedrion. End user utilization of the product in the U.S. is continuing to increase significantly, and our product supply to Kedrion is increasing year-over-year and beyond Kedrion's contractual minimum commitment. In addition to our significant market share in the U.S., we continue to grow sales of KAMRAB in leading international markets such as Canada, Latin America and Israel. GLASSIA represents our second leading franchise, with revenue contribution driven by our growing product sales in ex-U.S. markets such as Argentina, Russia, Israel, Switzerland, as well as additional markets, mainly in Latin America as well as royalty income generated from sales of the product by Takeda in the U.S. and Canada. We continue to support the comprehensive post-marketing research program for CYTOGAM, which we launched last year, which we believe will help demonstrate the advantages of the product in the prevention and management of CMV disease. This program was developed in collaboration with leading key opinion leaders to explore advancement of novel CMV disease management. The benefit of this program were recently highlighted by the presentation of data by Dr. Daniel Calabrese, Assistant Professor of Medicine at the UCSF Lung Transplant Program at the 2026 International Society for Heart and Lung Transplant Annual Meeting. Findings presented by Dr. Calabrese based on analysis of CMV high-risk lung transplant recipients suggest CYTOGAM use is associated with improved clinical outcomes, supporting increased CYTOGAM utilization. In addition, patients continue to be enrolled in the investigator-initiated trial titled the SHIELD study, which is prospective randomized controlled multicenter study in CMV high-risk kidney transplant recipients. The trial is investigating the benefit of CYTOGAM administrated at the conclusion of antiviral prophylaxis to reduce the risk of clinical significant late CMV in kidney transplant recipients who are CMV seronegative and have a CMV seropositive donor. We believe that the data generated by this study will support increased product utilization for CYTOGAM in the large population of kidney transplant recipients. With respect to VARIZIG, our anti-Varicella Zoster Immune Globulin and HEPAGAM, our hepatitis B Immune Globulin, we are experiencing strong market demand for these products resulting, among other things, from our product awareness activities in the U.S. market. As for our distribution operation, as part of activities to advance organic growth, we already have 2 biosimilar products launched in the Israeli market, and we are on track to launch 2 other products during this quarter. We have other biosimilar products in the pipeline to be launched in the coming years and additional in-licensing agreements are in process. We believe that this portfolio will become an increasingly important portion of our distribution business, with biosimilar annual sales of between $15 million to $20 million within the next few years. We are also continuing to advance expansion of our distribution activity to the MENA region. We have recently entered into several distribution agreements and initiated activities to register the underlying products with local authorities. We continue to engage in discussion with additional international companies, offering them full service from registration, all the way to commercialization. In July, we were very pleased to announce our 3-year $50 million sales agreement, first of its kind, to supply normal source plasma to a leading biopharmaceutical company focused on plasma-derived therapies. This agreement validates our plasma collection strategy and the investments we made in our U.S.-based state-of-the-art plasma collection centers, as well as our vertical integration strategy and multi-year revenue growth objectives. We expect that initial commercial sales under this agreement will be recorded in the fourth quarter of this year and have included these projected revenues in our current annual guidance. Moving to business development and M&A. We continue to evaluate opportunities to enrich our portfolio of marketed products and complement our existing commercial operation. This remains a core focus, and we are committed to expanding our current commercial portfolio, accelerating our long-term profitable growth. With that, I'll turn the call over to Chaime for a detailed discussion of our financial results. Chaime, please go ahead. Chaime Orlev: Thank you, Amir. As Amir stated at the top of the call, we are recording record high financial results for the first 6 months and second quarter of 2026. Total revenues for the first 6 months of 2026 was $100.2 million, a 13% increase from the $88.8 million generated in the first 6 months of 2025. The increase in revenues is primarily attributable to increased sales of KEDRAB in the U.S. market, as well as VARIZIG and HEPAGAM. Total revenues for the first 6 months of 2026 are at approximately 50% of the midpoint of our 2026 annual guidance. As an anecdote, approximately 5 years ago, we reported $103 million in total revenues for the full year ended December 31, 2021. And now we are reporting a similar revenue figure for the first 6 months. This is a strong indication of the company's significant growth track. Total revenues for the second quarter of 2026 were $54.9 million, up 23% compared to the second quarter of 2025. Second quarter revenues represent the highest revenue for a given quarter in Kamada's history. Net income for the first 6 months of 2026 was $13.4 million, or $0.23 per diluted share, up 18% compared to $11.3 million, or $0.19 per diluted share in the first 6 months of 2025. For the second quarter of 2026, net income was $9.3 million, up 26% compared to the second quarter of 2025. Adjusted EBITDA was $25.7 million in the first 6 months of 2026, a 14% increase as compared to the $22.5 million in the first 6 months of 2025. Adjusted EBITDA for the first 6 months of 2026 represents a 26% margin of revenues and is at 50% of the midpoint of our 2026 annual guidance. Cash provided by operating activities during the first 6 months of 2026 was approximately $17.8 million compared to $7.5 million during the first 6 months of 2025. As of June 30, 2026, we had cash and cash equivalents and short-term investments totaling $70.1 million compared to $73.1 million at the end of March. The company's ability to maintain its cash position while making a $14.4 million dividend payment during the second quarter is indicative of its continued ability to convert operating profits into cash flow. With that, I will transfer the call back to Amir. Amir London: Thank you, Chaime. Before we open the call to questions, I want to take a moment to acknowledge the other news we issued earlier this morning. As we announced, Chaime will be leaving Kamada at the end of the year to pursue other opportunities. On behalf of everyone at Kamada as well as our Board of Directors, I'd like to thank Chaime for his leadership and significant contribution to Kamada during his 9 years of service. Chaime has been instrumental in our continued growth while maintaining a strong operating and financial position that underlies the growth track we reported on today. We've initiated a search for a new CFO, and Chaime is committed to providing transitional support. Please join me in wishing him all the best in his future endeavors. Operator, that concludes our prepared remarks. We are ready to open the call to questions. Operator: The first question comes from Annabel Samimy with Stifel. Annabel Samimy: Congratulations on a good quarter. So, I'm going to have to ask the obvious. Given the solid quarter and the balanced growth across all your franchises, are there any specific reasons why you don't feel comfortable raising guidance at this time? And just as well with the gross profit, your EBITDA margins were great and they're expanding. I was just curious about the gross profit as you're becoming more vertically integrated. I was curious why it was going down instead of up. And so is there anything unusual in the quarter? So just that first. And I'll follow up with another question. Amir London: Yes. Thanks, Annabel. So, H1 performance is approximately 50% of an annual midpoint guidance. Pure guidance, we have already forecasted significant growth this year, 12% in revenue, 23% in EBITDA compared to last year and we are executing to the plan. So, that's basically kind of the rationale based on our performance and annual guidance. We expect another strong year next year of double-digit growth. So as we said, we believe that our growth model works. We guided between $200 million to $205 million or approximately 50% of that. We felt comfortable with the second part of the year expectations, and we will be guiding 2027 in due time, which will be another great year of significant growth for the company. As for the gross margin -- gross margin decline, so gross margin is a little bit shifting between quarter-to-quarter based on the product mix and market mix. Important to mention that we have maintained our EBITDA rate of 26% of revenue, which we believe is a significant achievement. And we were able to significantly grow our net income by over 18% year-over-year. So with those financial metrics, we believe that we are on a very strong track also moving forward, generating significant profitability and significant cash from operations, being able to convert that profitability into real money, real cash. Okay. Can you hear me? Operator: The next question comes from Jim Sidoti with Sidoti & Company. James Sidoti: Can you just give a little color, why was it important for you to get that rabies antibody neutralizing test approved and be able to do that yourself? Amir London: The lab that was approved was important for us in order to be even further vertically integrated. Until now, we were sending the samples of the anti-rabies product to an external lab. Having the lab in-house allows us quicker response and ability to get the product in process and final results, which allows us to release product faster to the market. With a significantly growing demand for KEDRAB, it's an important factor in our ability to continuously support growing market demand. James Sidoti: And then in the quarter, selling and marketing, to me, I thought was particularly low compared to the level of sales you had. Was there a one-time item there? Or how are you able to keep that so low? Amir London: We have been very effective in the way we are utilizing our resources. I think we are happy to present our investors year-after-year profitable growth. So it's not just we are just growing our top line, but also growing our revenues, growing our bottom line, EBITDA and net profit. And that's all about synergies, economy of scale and responsible management of our resources. James Sidoti: And then it seems like you're on track to get those 3 plasma collection plants up and running. That $50 million 3-year contract, does that leave you other -- do you have enough capacity to fill other orders as well? Or is that going to be the bulk of the output for those 3 plasma collection centers? Amir London: So since we launched the Houston and San Antonio centers, we spoke about the fact that each one of those 2 centers will contribute between $8 million to $10 million in revenue per year. So, this is the capacity of those 2 centers. If you add the 2 centers together, you get to between $16 million to $20 million per year. And if you take the $50 million divided by 3, it's exactly this $17 million that we will be generating from those centers. So, this is the current capacity, and this capacity has been basically sold to -- based on the contract we signed. We are growing our specialty plasma collection in those centers, and that specialty plasma goes into our own production. And that's the second portion of this equation or this formula. So, we're not just selling plasma out as a way to grow and increase our revenue and profitability, but we're also using specialty plasma for our own products in a way that, over time, will allow us to keep growing and improving our gross margins and overall profitability. James Sidoti: And what about the third center? Amir London: The third center is a specialty center, collects only specialty plasma, which is being used by our -- this was the original center we acquired in Beaumont, and that's a specialty focused center. Operator: [Operator Instructions] I would like to turn the call to Brian Ritchie for web questions at this time. Brian Ritchie: Just a couple, Amir, and they're related. So, I'll ask them together. First is, can you talk about whether or not the organic growth is sustainable? And then maybe just discuss the consistency that we've seen in the business over the last several years and how sustainable that is long term? Amir London: Yes. Great question. So, our business is highly sustainable or the organic growth is highly sustainable. We've been able to grow our business year-over-year double digit. We are projecting continued growth moving forward. We haven't completed yet our 2027 budget plan, but I can assure you that we will continue growing and all of this organically. And this is based on a strong business model, strategic model that is working very well for us. 6 FDA-approved products in over 30 different countries, in-licensing and Distribution segment, which is growing, including the expansion to the MENA region, the newly signed plasma sales deals, which we just spoke about. And of course, the transaction, M&A, BD activities that we are searching and we will be executing over time. So, I think I mentioned it at the beginning of the call, but I would like maybe to reiterate it that when examining and analyzing the company performance during recent months and Kamada does not have any future binary events, we are basically growing year after year, quarter after quarter. It's clear that the company's growth strategy model is working and working effectively. We are seeing growth and improvement across all financial metrics. Look, compare our 6 months' performance to previous year, expanded sales, expanded revenues, operational synergies, disciplined management of expenses, enhanced profitability and EBITDA and a very strong ability to generate cash from operations. So, I think that's basically the way to look at Kamada, a very strong, profitable growing business, generating cash, generating ability to continue investing into the business. We paid dividends last year and this year. And we believe that basically we have all the formula to continue growing in a very profitable way and bring value to our shareholders, especially when looking at our current share price and current valuation. Brian Ritchie: Thanks, Amir. Maybe we'll just turn it back to you for the closing comments, please. Amir London: Okay. Thank you very much. So as communicated at the beginning of the call and my answer to Brian, we continue to execute on our strategic multi-year growth plan, delivering record high operational and financial performance during the first half of 2026. We continue to reach new heights and deliver on our commitment to deliver double-digit profitable growth. We invest in our 4-pillar growth strategy, continued progress made in organic growth of our existing commercial portfolio, expansion of distribution and in-licensing business, growth of our plasma collection operation and advancing business development and M&A transactions to support and expedite our growth. We look forward to continuing to support clinicians and patients with important life-saving products that we develop, manufacture and commercialize. We thank you all for your support. We remain committed to creating long-term shareholder value. We hope you all stay healthy and safe. Thank you for joining our call today. Operator: Thank you. This does conclude today's teleconference. You may disconnect your lines at this time. Thank you for your participation, and have a great day. Before you buy stock in Kamada, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Kamada wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $419,408!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,348,694!* That performance is why people listen. With a track record of beating the S&P 500 by nearly 5x, Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 19, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Kamada (KMDA) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

This article first appeared on GuruFocus. Total Revenue (Q2 2026): $54.9 million, a 23% year-over-year increase, representing the strongest quarter in company history. Total Revenue (H1 2026): Record high of $100.2 million, a 13% increase from $88.8 million in H1 2025. Adjusted EBITDA (Q2 2026): $14.1 million, up 29% year-over-year, representing a 26% margin of revenues. Adjusted EBITDA (H1 2026): Record high of $25.7 million, up 14% year-over-year, representing a 26% margin of revenues. Net Income (Q2 2026): $9.3 million, up 26% year-over-year. Net Income (H1 2026): $13.4 million, or $0.23 per diluted share, up 18% from $11.3 million ($0.19 per diluted share) in H1 2025. Cash Flow from Operations (H1 2026): Approximately $17.8 million, compared to $7.5 million in H1 2025. Cash Position: Cash and cash equivalents and short-term investments totaled $70.1 million as of June 30, 2026, compared to $73.1 million at the end of March, despite a $14.4 million dividend payment during Q2. 2026 Annual Guidance: Reiterated revenue guidance of $200 million to $205 million and adjusted EBITDA guidance of $50 million to $53 million. Warning! GuruFocus has detected 6 Warning Signs with LAND. Is KMDA fairly valued? Test your thesis with our free DCF calculator. Release Date: August 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record high revenues of $100.2 million in H1 2026, up 13% year-over-year, with Q2 revenues of $54.9 million, the strongest quarter in company history. Adjusted EBITDA reached a record $25.7 million in H1 2026, up 14% year-over-year, with a strong 26% margin. Net income for H1 2026 increased 18% year-over-year to $13.4 million, and Q2 net income rose 26% to $9.3 million. Strong cash generation from operations, with $17.8 million in H1 2026, up from $7.5 million in the prior year period. Secured a three-year $50 million plasma supply agreement, validating the plasma collection strategy and supporting future revenue growth. Continued growth in key products like KEDRAB, Varizig, and Hepagam, driven by increasing U.S. demand and market share expansion. Successful launch of two biosimilar products in Israel, with two more expected in Q3 2026, and a pipeline targeting $15-20 million in annual biosimilar sales. Expansion into the MENA region with new distribution agreements and product registration activities. In-house rabies antibody neutralizing test approval enhances vertical integration, enabling faster product release to meet growing demand. Reiterated 2026 guidance of $200-205 million in revenues and $50-53 million in adjusted EBITDA, reflecting confidence in continued growth. Gross margin declined in the quarter due to product and market mix shifts, despite overall profitability improvements. Management chose not to raise 2026 guidance despite strong H1 performance, citing a focus on executing the existing plan. CFO Chaime Orlev announced departure at year-end, which could create transitional uncertainty. Plasma collection centers are operating at full capacity under the new supply agreement, limiting near-term flexibility for additional plasma sales. Dependence on a single plasma supply agreement for the two main centers could concentrate revenue risk. Growth is currently driven solely by organic products, with M&A and business development opportunities still pending execution. The company's ability to sustain double-digit growth relies on continued market demand and successful execution of expansion plans. Potential risks from international market volatility, including operations in regions like Russia and Latin America. The SHIELD study and other post-marketing programs for Cytogram are ongoing, with outcomes uncertain and not yet reflected in financials. The company's valuation may not fully reflect its growth potential, as noted by management, but this could also indicate market skepticism. Q: Given the solid quarter and balanced growth across all franchises, are there any specific reasons why you don't feel comfortable raising guidance at this time? Also, with EBITDA margins expanding, why did gross profit go down instead of up?A: Amir London (CEO): Our H1 performance is approximately 50% of the annual midpoint guidance. We have already guided significant growth this year (12% in revenue, 23% in EBITDA) and are executing to the plan. We expect another strong year of double-digit growth next year. Regarding gross margin, it shifts between quarters based on product and market mix. Importantly, we maintained our EBITDA rate of 26% of revenue and grew net income by over 18% year-over-year, demonstrating strong profitability and cash generation. Q: Can you talk about whether or not the organic growth is sustainable and how sustainable that is long-term?A: Amir London (CEO): The business is highly sustainable. We have grown double-digit year over year and project continued growth, all organically. This is based on a strong strategic model: six FDA-approved products in over 30 countries, a growing distribution segment expanding into the MENA region, the newly signed plasma sales deal, and future M&A activities. Without future binary events, we are growing year after year, improving across all financial metrics, generating cash, and paying dividends. Q: Why is it important for you to get that rabies antibody neutralizing test approved and be able to do that yourself?A: Amir London (CEO): Having the lab in-house allows for quicker response and ability to get product in process and final results, which allows us to release product faster to the market. With significant demand for KEDRAB, it is an important factor in our ability to continuously support a growing market demand and become even further vertically integrated. Q: In the quarter, selling and marketing seemed particularly low compared to the level of sales. Was there a one-time item there or how were you able to keep that so low?A: Amir London (CEO): We have been very effective in the way we utilize our resources. We are happy to present year after year profitable growth, growing not just top-line but also bottom line, EBITDA, and net profits. This is all about synergies, economy of scale, and responsible management of resources. Q: It seems like you are on track to get those three plasma collection plants up and running. That $50 million three-year contract, does that leave you enough capacity to fill other orders, or is that going to be the bulk of the output?A: Amir London (CEO): Each of the Houston and San Antonio centers will contribute between $8 to $10 million in revenue per year. Combined, that's $16 to $20 million per year, which aligns with the $50 million divided by three ($17 million per year). This current capacity has been basically sold based on the contract. We are also growing specialty plasma collection in those centers for our own production, which over time will allow us to improve gross margins and overall profitability. Q: What about the third center?A: Amir London (CEO): The third center in Beaumont is a specialty center that collects only specialty plasma, which is used by our own production. Q: Can you provide more color on the record financial results for the first half and second quarter of 2026?A: Chaime Orlev (CFO): Total revenues for the first six months of 2026 were $100.2 million, a 13% increase from $88.8 million in the first half of 2025, driven primarily by increased sales of KEDRAB in the U.S., as well as VARIZIG and HEPAGAM B. Second quarter revenues were $54.9 million, up 23% year-over-year, representing the highest revenue for a given quarter in Kamada's history. Net income for the first half was $13.4 million, up 18%, and adjusted EBITDA was $25.7 million, a 14% increase, representing a 26% margin of revenue. Q: Can you elaborate on the company's cash position and operating cash flow?A: Chaime Orlev (CFO): Cash provided by operating activities during the first six months of 2026 was approximately $17.8 million compared to $7.5 million in the first half of 2025. As of June 30, 2026, we had cash and cash equivalents and short-term investments totaling $70.1 million. The company's ability to maintain its cash position while making a $14.4 million dividend during the second quarter is indicative of its continued ability to convert operating profits into cash flow. Q: Can you provide an update on the distribution business and the biosimilar products?A: Amir London (CEO): We already have two biosimilar products launched in the Israeli market and are on track to launch two other products during this quarter. We have other biosimilar products in the pipeline for the coming years, and additional in-licensing agreements are in process. We believe this portfolio will become an increasingly important portion of our distribution business, with biosimilar annual sales of between $15 million to $20 million within the next few years. We are also advancing expansion of distribution activity to the MENA region with several new distribution agreements signed. Q: Can you provide an update on the Cytogram post-marketing research program?A: Amir London (CEO): We continue to support the comprehensive post-marketing research program for Cytogram, which we launched last year. The benefits were recently highlighted by data presented by Dr. Danielle Calabrisi at the 2026 International Society for Heart and Lung Transplant Annual Meeting, suggesting Cytogram use is associated with improved clinical outcomes in CMV high-risk lung transplant recipients. Additionally, patients continue to be enrolled in the SHIELD Study, a prospective randomized controlled multicenter study in CMV high-risk kidney transplant recipients, which we believe will support increased product utilization. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Performance was driven by strong double-digit growth across the existing commercial product portfolio, particularly KEDRAB in the U.S. and international markets. Management attributes record financial results to a four-pillar strategy focusing on commercial sales, distribution expansion, plasma collection, and M&A. Operational synergies and disciplined expense management allowed the company to maintain a 26% adjusted EBITDA margin despite shifting product mixes. The company is successfully transitioning to a vertically integrated model, utilizing its own Texas-based plasma collection centers to support both external supply agreements and internal production. The Distribution segment is expanding through the launch of biosimilars in Israel and new agreements in the MENA region to diversify revenue streams. Strategic investments in post-marketing research for CYTOGAM are intended to demonstrate clinical advantages in transplant recipients and drive increased utilization. Management reiterated 2026 annual guidance of $200 million to $205 million in revenue, assuming the commencement of plasma sales in the fourth quarter. The new 3-year, $50 million plasma supply agreement is expected to contribute approximately $17 million annually, effectively utilizing the capacity of two collection centers. Biosimilar annual sales are projected to reach between $15 million to $20 million within the next few years as more products from the pipeline are launched. Future growth acceleration is contingent on the execution of M&A transactions, which remain a core focus to complement current organic double-digit growth. The company expects to maintain its track record of converting operating profits into cash flow to support ongoing investments and shareholder returns. CFO Chaime Orlev will depart at the end of 2026 after nine years; a search for a successor has been initiated with a transition plan in place. The company implemented a $14.4 million dividend payment during the second quarter, highlighting its strong cash position and operational health. Approval of an in-house rabies antibody neutralizing test lab was secured to accelerate product release cycles and further vertical integration. The first-of-its-kind $50 million normal source plasma agreement validates the company's investment in U.S.-based collection infrastructure. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted that H1 results represent approximately 50% of the annual midpoint, and they remain comfortable with the existing high-growth targets. The company emphasized that the current guidance already reflects significant year-over-year growth of 12% in revenue and 23% in EBITDA. Management explained that gross margin varies quarter-to-quarter based on specific product and market mixes. They emphasized the achievement of maintaining a consistent 26% EBITDA margin through operational synergies and scale. The $50 million contract fully commits the $16 million to $20 million annual capacity of the Houston and San Antonio centers. A third center in Beaumont remains dedicated to specialty plasma for Kamada's internal product manufacturing. Management attributed lower-than-expected marketing spend to effective resource utilization and the realization of economies of scale. The focus remains on growing the bottom line in tandem with the top line through responsible resource management.

Kamada (KMDA) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.12 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +33.33%. A quarter ago, it was expected that this biopharmaceutical would post earnings of $0.12 per share when it actually produced earnings of $0.07, delivering a surprise of -41.67%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Kamada, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $54.92 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 6.39%. This compares to year-ago revenues of $44.75 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Kamada shares have added about 0.4% since the beginning of the year versus the S&P 500's gain of 12.9%. While Kamada has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Kamada was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.13 on $54.79 million in revenues for the coming quarter and $0.44 on $202.89 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the bottom 38% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Kyntra Bio (KYNB), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 13. This biotech drug developer is expected to post quarterly loss of $3.18 per share in its upcoming report, which represents a year-over-year change of +5.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Kyntra Bio's revenues are expected to be $1.99 million, up 47.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kamada Ltd. (KMDA) : Free Stock Analysis Report Kyntra Bio Inc (KYNB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Kamada Ltd.? Here are five stocks we like better. Record results: Second-quarter revenue rose 23% year over year to $54.9 million, while first-half revenue increased 13% to $100.2 million. First-half adjusted EBITDA grew 14% to $25.7 million, with a 26% margin, and operating cash flow improved to approximately $17.8 million. 2026 guidance reaffirmed: Kamada maintained its outlook for $200 million to $205 million in revenue and $50 million to $53 million in adjusted EBITDA. Growth was driven primarily by higher U.S. demand for KEDRAB, along with strong VARIZIG, HEPAGAM and international product sales. Expansion initiatives underway: The company expects initial revenue by year-end from a new three-year, $50 million plasma supply agreement, while expanding biosimilar sales and distribution in the Middle East and North Africa. CFO Chaime Orlev will leave at the end of 2026, and Kamada has begun searching for a successor. Kamada (NASDAQ:KMDA) reported record revenue and adjusted EBITDA for the second quarter and first half of 2026, driven by higher sales of its specialty plasma-derived products, including KEDRAB, VARIZIG and HEPAGAM. The company reiterated its full-year guidance and said it expects initial sales under a new plasma supply agreement to begin in the fourth quarter. Revenue for the first six months of 2026 totaled $100.2 million, up 13% from $88.8 million in the year-earlier period. Second-quarter revenue rose 23% year over year to a quarterly record of $54.9 million. → SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat Net income for the first half increased 18% to $13.4 million, or $0.23 per diluted share, compared with $11.3 million, or $0.19 per diluted share, a year earlier. Second-quarter net income was $9.3 million, up 26% from the prior-year quarter. Adjusted EBITDA reached $25.7 million in the first half, an increase of 14% from $22.5 million in the first six months of 2025. The figure represented a 26% margin on revenue. Second-quarter adjusted EBITDA rose 29% year over year to $14.1 million, also representing a 26% margin. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be Chief Financial Officer Chaime Orlev said cash provided by operating activities was approximately $17.8 million during the first half, compared with $7.5 million in the comparable 2025 period. As of June 30, cash, cash equivalents and short-term investments totaled $70.1 million, down from $73.1 million at the end of March. Orlev said the company maintained its cash position while making a $14.4 million dividend payment during the second quarter, which he said reflected Kamada’s ability to convert operating profit into cash flow. → First Solar’s Profit Engine Faces a New Policy Test in Washington During the question-and-answer session, CEO Amir London said quarterly gross margins can shift based on product and market mix. He emphasized that Kamada maintained a 26% adjusted EBITDA margin while increasing net income and cash generation. Kamada reaffirmed its 2026 outlook for revenue of $200 million to $205 million and adjusted EBITDA of $50 million to $53 million. At the midpoints, the guidance would represent revenue growth of 12% and adjusted EBITDA growth of 23% from 2025 results, according to management. London said first-half revenue and adjusted EBITDA each represented about 50% of the midpoint of the company’s full-year guidance. He said the company was comfortable with its outlook for the second half rather than raising guidance after the first-half results. “We are executing to the plan,” London said, adding that the company expects another year of double-digit growth in 2027, although it has not yet completed its budget plan for next year. Management attributed the first-half revenue increase primarily to increased U.S. sales of KEDRAB, Kamada’s anti-rabies immunoglobulin product, as well as VARIZIG and HEPAGAM sales. KEDRAB is distributed in the U.S. through the company’s collaboration with Kedrion. London said end-user utilization of KEDRAB has continued to rise and that product supply to Kedrion is increasing beyond the partner’s contractual minimum commitment. Kamada also reported growing sales of KAMRAB, its anti-rabies immunoglobulin, in Canada, Latin America and Israel. GLASSIA, the company’s second-largest franchise, benefited from sales outside the U.S., including in Argentina, Russia, Israel and Switzerland, as well as markets in Latin America. The franchise also generates royalty income from Takeda’s sales of the product in the U.S. and Canada, London said. The company said demand has also been strong for VARIZIG, an anti-varicella zoster immunoglobulin, and HEPAGAM, a hepatitis B immunoglobulin. Kamada has continued activities intended to increase awareness of those products in the U.S. market. In July, Kamada announced a three-year, $50 million agreement to supply normal-source plasma to a biopharmaceutical company focused on plasma-derived therapies. The company expects commercial sales under the agreement to begin by year-end and said projected revenue from the contract is included in its 2026 guidance. London said the agreement effectively uses the current normal-plasma capacity of the company’s Houston and San Antonio collection centers. The company also operates a specialty plasma center in Beaumont, Texas, that collects plasma for use in Kamada’s own production activities. During the call, London said the company had received approval for an in-house rabies virus-neutralizing antibody testing laboratory. He said bringing the testing process in-house should allow Kamada to obtain results more quickly and release KEDRAB product faster as demand grows. Kamada said it has launched two biosimilar products in Israel and remains on track to introduce two additional biosimilars during the current quarter. Management expects the biosimilar portfolio to generate annual sales of $15 million to $20 million within the next several years. The company is also expanding its distribution operations into the Middle East and North Africa region. London said Kamada has entered several distribution agreements, initiated local product-registration activities and remains in discussions with additional international companies. Separately, London announced that Orlev will leave Kamada at the end of 2026 to pursue other opportunities. The company has initiated a search for a successor, and Orlev will provide transition support, London said. Management said it continues to evaluate business-development and acquisition opportunities as part of its longer-term growth strategy, alongside organic product sales growth, expansion of distribution and in-licensing activities, and plasma collection operations. Kamada Ltd. is a biopharmaceutical company headquartered in Israel that specializes in the development, manufacturing and commercialization of plasma‐derived protein therapeutics. The company focuses on treatments for rare and serious diseases, leveraging its proprietary fractionation and purification technologies to produce purified human proteins. Kamada’s product portfolio addresses critical therapeutic areas in immunology, hematology and pulmonology, where alternative treatment options may be limited. Among Kamada’s marketed products is Glassia®, an alpha‐1 antitrypsin augmentation therapy approved by the U.S. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Kamada Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Record-High First Half Revenues of $100.2 Million, up 13% Year-over-Year; Record-High First Half Adjusted EBITDA of $25.7 Million, a 26% margin of Revenues, up 14% Year-over-Year Record-High Second Quarter Revenues of $54.9 Million, up 23% Year-over-Year; Second Quarter Adjusted EBITDA of $14.1 Million, a 26% margin of Revenues, up 29% Year-over-Year Net Income for the First Half was $13.4 Million, up 18% Year-over-Year; Second Quarter Net Income of $9.3 Million, up 26% Year-over-Year Company Affirms 2026 Annual Guidance of $200 Million – $205 Million in Revenues and $50 Million – $53 Million of Adjusted EBITDA, Representing Annual Double-Digit Organic Profitable Growth Strong Cash Generated from Operating Activities of $17.8 Million During the First Six Months of 2026, Compared to $7.5 Million During the First Six Months of 2025 Secured a First-Time Strategic Three-Year Sales Agreement of approximately $50 Million to Supply Plasma to a Leading Biopharmaceutical Company Company Remains Focused on Accelerating Growth Through Business Development and M&A Transactions Conference Call and Live Webcast Today at 8:30am ET REHOVOT, Israel and HOBOKEN, N.J., Aug. 12, 2026 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ: KMDA; TASE: KMDA.TA), a global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions and a leader in the specialty plasma-derived therapies field, today announced financial results for the three months and six months ended June 30, 2026. “We continue to execute on our plan delivering record-high operational and financial performance during the first half of 2026, with strong double-digit growth in revenues and adjusted EBITDA for both the six-month and second quarter reporting periods,” said Amir London, Kamada’s Chief Executive Officer. “The first half of the year was the strongest in Kamada’s history with revenues of $100.2 million and adjusted EBITDA of $25.7 million, representing notable 26% margin of revenues. The underlying demand for our products, including KEDRAB® in the U.S. market, as well as VARIZIG® and HEPAGAM®, continues to increase significantly. Based on our first half performance, representing approximately 50% of our annual guidance midpoints, we are reiterating our 2026 annual guidance of $200 million to $205 million in revenues and $50 million to $53 million of adjusted EBITDA, respectively, representing 12% and 23% growth when comparing 2026 guidance mid-points to 2025 results.” “For the second half of 2026, our focus continues to be on growing sales of our entire commercial portfolio, including our six FDA-approved specialty plasma-derived products. In our Distribution segment, growth is supported by the launch of additional biosimilar products in the Israeli market, as well as the expansion of the Distribution business to the MENA region, which is already ongoing with new distribution agreements being signed. We continue to ramp up plasma collection at our Texas-based facilities in support of our new three-year sale agreement of approximately $50 million. Lastly, securing new business development and M&A opportunities remain a core focus, and we are committed to expanding our current commercial portfolio and accelerating our current annual double-digit organic growth in the years to come,” concluded Mr. London. Financial Highlights for the Three Months Ended June 30, 2026 Record-high total revenues of $54.9 million for the second quarter of 2026, up 23% compared to $44.8 million in the second quarter of 2025. The increase in revenues was driven by the diversity of the Company’s portfolio, primarily attributable to increased sales of KEDRAB in the U.S. market and VARIZIG and HEPAGAM. Gross profit and gross margins were $22.5 million and 41%, respectively, in the second quarter of 2026, as compared to $18.9 million and 42%, respectively, in the second quarter of 2025. The increase in gross profit is in line with the increase in total revenues. Operating expenses, including R&D, S&M, G&A and other expenses, totaled $13.0 million in the second quarter of 2026, as compared to $11.9 million in the second quarter of 2025. The increase was in support of our increased commercial operations. Net income was $9.3 million, or $0.16 per diluted share, in the second quarter of 2026, up 26% compared to $7.4 million, or $0.13 per diluted share, in the second quarter of 2025. Adjusted EBITDA, as detailed in the tables below, was $14.1 million in the second quarter of 2026, up 29% compared to $10.9 million in the second quarter of 2025. Adjusted EBITDA for the second quarter represents a 26% margin of revenues and is the outcome of our continued profitable commercial growth. Cash provided by operating activities was $18.1 million in the second quarter of 2026, as compared to $8.0 million in the second quarter of 2025. The increase in operating cash flow is indicative of the Company’s ability to convert its increased profitability into cash-flow. Financial Highlights for the Six Months Ended June 30, 2026 Record-high total revenues for the first six months of 2026 were $100.2 million, a 13% increase from $88.8 million generated in the first six months of 2025. The increase in revenues was driven by the diversity of the Company’s portfolio, primarily attributable to increased sales of KEDRAB in the U.S. market and VARIZIG and HEPAGAM. Total revenues for the first six months of 2026 are at approximately 50% of the mid-point of the 2026 annual guidance. Gross profit and gross margins for the first six months of 2026 were $41.6 million and 42%, respectively, compared to $39.7 million and 45%, respectively, in the first six months of 2025. The increase in gross profit is in line with the increase in total revenues. Operating expenses, including R&D, S&M, G&A and other expenses, totaled $25.1 million for the first six months of 2026, as compared to $24.8 million in the first six months of 2025, resulting from the continued disciplined management of our operational expenses while supporting the Company’s expanded commercial operations. Net income for the first six months of 2026 was $13.4 million, or $0.23 per diluted share, up 18% as compared to $11.3 million, or $0.19 per diluted share, in the first six months of 2025. Record-high Adjusted EBITDA, as detailed in the tables below, was $25.7 million in the first six months of 2026, a 14% increase as compared to $22.5 million in the first six months of 2025. Adjusted EBITDA for the first six months of 2026 is at 50% of the mid-point of the 2026 annual guidance. Cash provided by operating activities during the first six months of 2026 was approximately $17.8 million, as compared to $7.5 million during the first six months of 2025. The increase in operating cash flow is indicative of the Company’s ability to convert its increased profitability into cash-flow. Balance Sheet HighlightsAs of June 30, 2026, Kamada had cash and cash equivalents and short-term investment totaling $70.1 million, as compared to $75.5 million as of December 31, 2025. During the second quarter, the Company executed the $14.4 million dividend payment. Recent Corporate Highlights Announced a three-year sales agreement of approximately $50 million to supply plasma to a leading biopharmaceutical company focused on plasma-derived therapies. Initial commercial sales under the agreement are expected to be recorded in the fourth quarter of 2026. Expected fourth quarter sales from this agreement are included in the Company’s current annual guidance. Announced that results of an Investigator-Initiated Study were presented at the 2026 International Society for Heart and Lung Transplant (ISHLT). Findings from analyses of CMV high-risk lung transplant recipients suggested CYTOGAM use is associated with improved clinical outcomes, supporting increased CYTOGAM utilization. The study is part of the Company’s comprehensive post-marketing research program aimed at generating key data in support of the benefits of CYTOGAM in the management of cytomegalovirus (CMV) in solid organ transplantation. Announced FDA approval of the Company’s new in-house Rapid Fluorescent Focus Inhibition Test (RFFIT) laboratory. RFFIT is the gold standard neutralizing test used to measure the level of rabies-neutralizing antibodies. Paid cash dividend of $0.25 (approximately NIS 0.77) per share on the Company’s ordinary shares (totaling approximately $14.4 million). The cash dividend was paid on April 7, 2026, to shareholders of record at the close of business on March 23, 2026. Concluded a renewal of the collective bargaining agreement with Histadrut - General Federation of Labor in Israel and the Employees’ Committee of Kamada’s Beit Kama production facility in Israel for a period of four years ending on December 31, 2029. Fiscal 2026 GuidanceKamada is reiterating its 2026 annual financial guidance of total revenues in the range of $200 million to $205 million, and adjusted EBITDA in the range of $50 million to $53 million, representing year-over-year increase of 12% in revenues and 23% in adjusted EBITDA based on mid-point of 2026 annual guidance. Conference Call DetailsKamada management will host an investment community conference call on Wednesday, August 12, at 8:30am Eastern Time to discuss these results and answer questions. Shareholders and other interested parties may participate in the call by dialing 1-877-407-0792 (from within the U.S.), 1-809-406-247 (from Israel), or 1-201-689- 8263 (International) using conference I.D. 13761830. The call will be webcast live on the internet at: https://viavid.webcasts.com/starthere.jsp?ei=1770235&tp_key=a29c72f53b. Non-IFRS financial measuresWe present EBITDA and adjusted EBITDA because we use these non-IFRS financial measures to assess our operational performance, for financial and operational decision-making, and as a means to evaluate period-to-period comparisons on a consistent basis. Management believes these non-IFRS financial measures are useful to investors because: (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and provide investors with a meaningful perspective on the current underlying performance of the Company’s core ongoing operations; and (2) they exclude the impact of certain items that are not directly attributable to our core operating performance and that may obscure trends in the core operating performance of the business. Non-IFRS financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, our IFRS results. We expect to continue reporting non-IFRS financial measures, adjusting for the items described below, and we expect to continue to incur expenses similar to certain of the non-cash, non-IFRS adjustments described below. Accordingly, unless otherwise stated, the exclusion of these and other similar items in the presentation of non-IFRS financial measures should not be construed as an inference that these items are unusual, infrequent or non-recurring. EBITDA and adjusted EBITDA are not recognized terms under IFRS and do not purport to be an alternative to IFRS terms as an indicator of operating performance or any other IFRS measure. Moreover, because not all companies use identical measures and calculations, the presentation of EBITDA and adjusted EBITDA may not be comparable to other similarly titled measures of other companies. EBITDA is defined as net income (loss), plus income tax expense, plus or minus financial income or expenses, net, plus or minus income or expense in respect of securities measured at fair value, net, plus or minus income or expenses in respect of currency exchange differences and derivatives instruments, net, plus depreciation and amortization expense, whereas adjusted EBITDA is the EBITDA plus non-cash share-based compensation expenses and certain other costs. For the projected 2026 adjusted EBITDA information presented herein, the Company is unable to provide a reconciliation of this forward measure to the most comparable IFRS financial measure because the information for these measures is dependent on future events, many of which are outside of the Company’s control. Additionally, estimating such forward-looking measures and providing a meaningful reconciliation consistent with the Company’s accounting policies for future periods is meaningfully difficult and requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-IFRS measures are estimated in a manner consistent with the relevant definitions and assumptions noted in the Company’s adjusted EBITDA for historical periods. About Kamada Kamada Ltd. (the “Company”) is a global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions and a leader in the specialty plasma-derived therapies field. FIMI Opportunity Funds, the leading private equity firm in Israel, is the Company’s controlling shareholder, beneficially owning approximately 38% of the outstanding ordinary shares. The Company’s strategy is focused on driving profitable growth through four primary growth pillars: First, organic growth of its commercial portfolio, including continued investment in the commercialization and life cycle management of its proprietary products, consisting of six FDA-approved specialty plasma-derived products: KEDRAB®, GLASSIA®, CYTOGAM®, VARIZIG®, WINRHO SDF® and HEPAGAM B®, as well as KAMRAB®, and two equine-based anti-snake venom products. Second, distribution of third parties' pharmaceutical products in Israel & the MENA region through in-licensing partnerships, including the launch of several biosimilar products in Israel. Third, the Company is ramping up its plasma collection operations to support revenue growth through the sale of normal source plasma to other plasma-derived manufacturers, and to support its increasing demand for hyper-immune plasma. The Company currently owns three FDA approved operating plasma collection centers in the United States, in Beaumont, Houston, and San Antonio, Texas. Fourth, the Company aims to secure new mergers and acquisitions, business development, in-licensing and/or collaboration opportunities, which are anticipated to enhance the Company’s marketed products portfolio and leverage its financial strength and existing commercial infrastructure to drive long-term profitable growth. The Company is leveraging its manufacturing, research and development expertise to advance the development and commercialization of additional product candidates, targeting areas of significant unmet medical need. Cautionary Note Regarding Forward-Looking Statements This release includes forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, including statements regarding: 1) Kamada’s re-affirmation of its 2026 annual financial guidance; 2) expected growth in sales of the Company’s commercial portfolio and Distribution segment; 3) the expected timing and contribution of plasma sales under the Company’s new supply agreement, including revenue contributions to 2026 financial results; 4) the Company’s ability to secure new business development and M&A opportunities; 5) the Company’s expectations regarding long-term double-digit profitable growth; 6) the Company’s ability to convert profitability into cash flows; 7) the Company’s ability to expand its current commercial portfolio; and 8) optimism about increased sales of CYTOGAM based on results of an Investigator-Initiated Study. Forward-looking statements are based on Kamada’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to the evolving nature of the conflicts in the Middle East and the impact of such conflicts in Israel, the Middle East and the rest of the world, the impact of these conflicts on market conditions and the general economic, industry and political conditions in Israel, the U.S. and globally, the effect of tariffs on overall international trade and specifically on Kamada’s ability to continue maintaining expected sales and profit levels in light of such tariffs, the effect on the establishment and timing of business initiatives, Kamada’s ability to find business development and M&A transactions and leverage such opportunities and successfully integrate such opportunities with its existing product portfolio, unexpected results of clinical and development programs, regulatory delays, and other risks detailed in Kamada’s filings with the U.S. Securities and Exchange Commission (the “SEC”) including those discussed in its most recent Annual Report on Form 20-F and in any subsequent reports on Form 6-K, each of which is on file or furnished with the SEC and available at the SEC’s website at www.sec.gov. The forward-looking statements made herein speak only as of the date of this announcement and Kamada undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law. CONTACTS:Chaime OrlevChief Financial [email protected] Brian RitchieLifeSci Advisors, [email protected]

Innoviva (INVA) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +5.36%. A quarter ago, it was expected that this biopharmaceutical company would post earnings of $0.43 per share when it actually produced earnings of $0.44, delivering a surprise of +2.33%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Innoviva, which belongs to the Zacks Large Cap Pharmaceuticals industry, posted revenues of $119.59 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 5.63%. This compares to year-ago revenues of $100.28 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Innoviva shares have added about 4.4% since the beginning of the year versus the S&P 500's gain of 13%. While Innoviva has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Innoviva was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #5 (Strong Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.50 on $113.04 million in revenues for the coming quarter and $3.98 on $444.31 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Large Cap Pharmaceuticals is currently in the bottom 7% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the broader Zacks Medical sector, Kamada (KMDA), is yet to report results for the quarter ended June 2026. This biopharmaceutical is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -7.7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Kamada's revenues are expected to be $51.62 million, up 15.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Innoviva, Inc. (INVA) : Free Stock Analysis Report Kamada Ltd. (KMDA) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Company to Host Conference Call at 8:30am ET REHOVOT, Israel, and HOBOKEN, N.J., Aug. 05, 2026 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ: KMDA; TASE: KMDA.TA), a global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions and a leader in the specialty plasma-derived therapies field, today announced that it will release financial results for the second quarter and first half ended June 30, 2026, prior to the open of the U.S. financial markets on Wednesday, August 12, 2026. Kamada management will host an investment community conference call on Wednesday, August 12, at 8:30am Eastern Time to discuss these results and answer questions. Shareholders and other interested parties may participate in the call by dialing 1-877-407-0792 (from within the U.S.), 1-809-406-247 (from Israel), or 1-201-689- 8263 (International) using conference I.D. 13761830. The call will be webcast live on the internet at: https://viavid.webcasts.com/starthere.jsp?ei=1770235&tp_key=a29c72f53b. About Kamada Kamada Ltd. (the “Company”) is a global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions and a leader in the specialty plasma-derived therapies field. FIMI Opportunity Funds, the leading private equity firm in Israel, is the Company’s controlling shareholder, beneficially owning approximately 38% of the outstanding ordinary shares. The Company’s strategy is focused on driving profitable growth through four primary growth pillars: First, organic growth of its commercial portfolio, including continued investment in the commercialization and life cycle management of its proprietary products, consisting of six FDA-approved specialty plasma-derived products: KEDRAB®, GLASSIA®, CYTOGAM®, VARIZIG®, WINRHO SDF® and HEPAGAM B®, as well as KAMRAB®, and two equine-based anti-snake venom products. Second, distribution of third-parties' pharmaceutical products in Israel & the MENA region through in-licensing partnerships, including the launch of several biosimilar products in Israel. Third, the Company is ramping up its plasma collection operations to support revenue growth through the sale of normal source plasma to other plasma-derived manufacturers, and to support its increasing demand for hyper-immune plasma. The Company currently owns three FDA-approved operating plasma collection centers in the United States, in Beaumont, Houston, and San Antonio, Texas. Fourth, the Company aims to secure new mergers and acquisitions, business development, in-licensing and/or collaboration opportunities, which are anticipated to enhance the Company’s marketed products portfolio and leverage its financial strength and existing commercial infrastructure to drive long-term profitable growth. The Company is leveraging its manufacturing, research and development expertise to advance the development and commercialization of additional product candidates, targeting areas of significant unmet medical need. CONTACTS:Chaime OrlevChief Financial [email protected] Brian RitchieLifeSci Advisors, [email protected]