Kamada Ltd. (NASDAQ:KMDA) Q2 2024 Earnings Conference Call August 14, 2024 8:30 AM ET
Company Participants
Troy Williams - LifeSci Advisors
Amir London - Executive Officer
Chaime Orlev - Chief Financial Officer
Conference Call Participants
Annabel Samimy - Stifel
Operator
Greetings, and welcome to Kamada Limited Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host Mr. Troy Williams, LifeSci Adviser. Thank you, Mr. Williams, you may begin.
Troy Williams
[technical difficulty] 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 to or events to differ materially from those described in the forward-looking statements. Furthermore, the contents of this conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, Wednesday, August 14, 2024. 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 is my pleasure to turn the call over to Amir London, CEO. Amir?
Amir London
[technical difficulty] a review of our growth strategy which is successfully reflected in the strong financial results we delivered in the second quarter and first half of 2024 and provide a summary of the drivers we are focused on for the balance of this year and into 2025. Then I'll turn the call over to Chaime for a more detailed review of our financial results.
Following this, we will open the call for your questions. So let's begin. I'm pleased to report that the strong financial and operational start to 2024, as reported last quarter continued through our second quarter, supporting and validating our growth strategy we are executing on.
Kamada's growth strategy is built upon four main pillars: one, organic growth of our existing commercial portfolio of six FDA-approved products marketed in over 30 countries.
Secondly, M&A transactions, which expect to support and expedite our growth; thirdly, the plasma collection centers we are opening and lastly, the ongoing Phase 3 pivotal trial of our inhaled AAT product that is targeting an over $2 billion market.
During the first six months of 2024, we have achieved significant progress advancing each of these growth catalysts as I will shortly detail. But first, I'll provide a high-level summary of the financials. Total revenue were up 13% to $42.5 million for the second quarter as compared to the second quarter of 2023. And adjusted EBITDA for the second quarter was $9.1 million, a 51% increase compared to the prior year quarter.