Kamada Ltd.: Kamada Reports Record-High First Half and Second Quarter 2026 Financial Results, Representing Double-Digit Profitable Growth and the Strongest in Kamada's History; Affirms 2026 Annual Gui
Kamada Ltd. (NASDAQ: KMDA) reported record first-half 2026 results: revenues $100.2M (+13% YoY) and adjusted EBITDA $25.7M (+14% YoY), with net income $13.4M (+18%). Q2 revenues were $54.9M (+23%) and adjusted EBITDA $14.1M (+29%). It affirmed 2026 guidance: revenues $200M-$205M and adjusted EBITDA $50M-$53M, and signed a ~3-year ~$50M plasma supply agreement.
How this was made
The 30-second read
Why it matters
The combination of record first-half and Q2 performance, reiterated 2026 revenue and adjusted EBITDA guidance, and a new three-year plasma supply agreement with expected 4Q26 initial sales provides multiple catalysts for traders to reprice near-term expectations.
Market read
Traders get a fresh earnings-and-guidance package plus a new multi-year supply contract that should influence 2H26 revenue visibility.
What to watch
The agreement’s initial commercial sales are expected in 4Q26, so near-term upside may be limited until that revenue is actually booked; also, cash and short-term investments declined despite higher operating cash flow.
Background
Kamada is a specialty plasma-derived biopharmaceutical company with marketed products for rare and serious conditions, reporting Q2 and first-half 2026 results and reaffirming full-year guidance.
Ticker impact
Kamada reported record-high Q2 and first-half 2026 results and reiterated 2026 guidance, plus a first-time ~$50M three-year plasma supply agreement.
Likely positive bias for KMDA, with follow-through dependent on market reaction to guidance confidence and the timing of agreement-related sales.
The article discloses multiple fresh, decision-relevant datapoints: record revenues/EBITDA, reiterated annual guidance, improved operating cash flow, and a new multi-year supply agreement with expected initial sales in 4Q26.
Market effects
Strength in specialty plasma-derived therapies and distribution expansion could reinforce sentiment toward plasma supply and rare-disease biopharma demand.
MENA distribution expansion and Israeli biosimilar launches may modestly support regional specialty pharma distribution expectations.
If the plasma supply agreement scales as guided, it can marginally improve visibility for the broader plasma-derived therapy supply chain.
Counterpoint
Record growth may already be partially priced in; the market may focus on whether gross margin and cash conversion can sustain through 2H26.
Key entities
- companyKamada Ltd.
NASDAQ-listed biopharmaceutical company reporting record-high first-half and Q2 2026 financial results and reiterating 2026 guidance.
- counterpartyLeading biopharmaceutical company (unnamed)
Counterparty to a first-time strategic three-year plasma supply agreement of approximately $50M, with initial sales expected in 4Q26.
- productsKEDRAB, VARIZIG, HEPAGAM, CYTOGAM
Commercial products cited as driving revenue growth; CYTOGAM referenced in an investigator-initiated study presented at ISHLT.
