Cerus (CERS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CERS SEC filings page.
Cerus Corp (CERS) reported $233.8M in revenue for fiscal year 2025, up 16.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue growth is translating into narrower losses, but working-capital buildup is absorbing much of the improving operating performance.
From FY2024 to FY2025, revenue grew16.1% while operating margin improved3.4 percentage points , showing better operating absorption rather than merely larger sales. Yet operating cash flow fell57.4% and free cash flow contracted sharply while inventory rose47.1% , indicating that recent growth is tying up cash before it reaches the bottom line.
Revenue expanded
The balance sheet remains liability-heavy: liabilities were
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Cerus Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Cerus Corp has an operating margin of -3.7%, meaning the company loses $4 on every $100 of revenue. This results in a profitability score of 28/100. This is up from -7.1% the prior year.
Cerus Corp's revenue surged 16.1% year-over-year to $233.8M, reflecting rapid business expansion. This strong growth earns a score of 69/100.
Cerus Corp's current ratio of 1.73 indicates adequate short-term liquidity, earning a score of 51/100. The company can meet its near-term obligations, though with limited headroom.
While Cerus Corp generated $4.8M in operating cash flow, capex of $3.7M consumed most of it, leaving $1.1M in free cash flow. This results in a low score of 18/100, reflecting heavy capital investment rather than weak cash generation.
Cerus Corp posts a -24.3% return on equity (ROE), meaning it loses $24 for every $100 of shareholders' equity. This results in a returns score of 28/100. This is up from -37.3% the prior year.
Cerus Corp scores -3.70, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $1.1B against total assets of $221.9M. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Cerus Corp passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), the one computable operating efficiency signal (asset turnover improving) passes.
Cerus Corp reported a net loss of $15.6M while generating $4.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Cerus Corp reported an operating loss of $8.7M against $8.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Cerus Corp generated $57.4M in revenue in Q2 2026. This represents an increase of 9.5% from the same quarter a year earlier. Against the prior quarter it is up 7.0%.
Cerus Corp's EBITDA was -$1.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. Against the prior quarter it is down 1602.2%.
Cerus Corp reported a net loss of $2.9M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
Cerus Corp recorded an outflow of $3.5M in free cash flow in Q2 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cerus Corp held $18.0M in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Margins & Returns
Cerus Corp's operating margin was -3.2% in Q2 2026, reflecting core business profitability. This is up 3.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.6 percentage points.
Cerus Corp's net profit margin was -5.1% in Q2 2026, showing the share of revenue converted to profit. This is up 5.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.1 percentage points.
Cerus Corp's quarterly ROE was -4.2% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is up 6.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.8 percentage points.
Not reported for Q2 2026.
Capital Allocation
Cerus Corp invested $14.4M in research and development in Q2 2026. This represents a decrease of 23.9% from the same quarter a year earlier. Against the prior quarter it is down 1.0%.
Cerus Corp invested $873K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 83.0% from the same quarter a year earlier. Against the prior quarter it is up 274.7%.
Not reported for Q2 2026.
CERS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $57.4M+9.5% | $53.7M+24.1% | N/A | N/A | $52.4M | $43.2M | N/A | N/A |
| R&D Expenses | $14.4M-23.9% | $14.5M-12.5% | N/A | $15.8M+12.9% | $18.9M+26.3% | $16.6M+14.7% | N/A | $14.0M-16.5% |
| SG&A Expenses | $22.9M+7.9% | $19.9M-1.7% | N/A | $18.6M+4.7% | $21.2M+11.6% | $20.3M+2.5% | N/A | $17.8M+10.1% |
| Operating Income | -$1.9Mn/m | -$354Kn/m | N/A | $1.2Mn/m | -$3.4Mn/m | -$5.9Mn/m | N/A | -$961Kn/m |
| EBITDA | -$1.4Mn/m | $93Kn/m | N/A | $1.6Mn/m | -$3.1Mn/m | -$5.5Mn/m | N/A | -$549Kn/m |
| Interest Expense | $1.7M-20.3% | $1.9M-11.3% | N/A | $2.1M-6.2% | $2.1M-7.7% | $2.1M-5.6% | N/A | $2.3M-4.4% |
| Income Tax | $95K+25.0% | $91K+23.0% | N/A | $85K+11.8% | $76Kn/m | $74K0.0% | N/A | $76K-2.6% |
| Net Income | -$2.9Mn/m | -$1.6Mn/m | N/A | -$19Kn/m | -$5.7Mn/m | -$7.7Mn/m | N/A | -$2.9Mn/m |
| EPS (Basic) | -$0.01 | -$0.01n/m | -$0.01n/m | $0.00n/m | -$0.03n/m | -$0.04n/m | -$0.01n/m | -$0.02n/m |
| EPS (Diluted) | -$0.01 | -$0.01n/m | -$0.01n/m | $0.00n/m | -$0.03n/m | -$0.04n/m | -$0.01n/m | -$0.02n/m |
| Diluted Shares (Avg) | 201M | 194M+3.8% | N/A | 192M+3.5% | 191M+3.4% | 187M+2.7% | N/A | 185M+2.5% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
CERS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $205.2M-3.7% | $222.9M+7.8% | $221.9M+10.4% | $215.2M+13.5% | $213.1M+14.9% | $206.8M+9.3% | $200.9M+1.6% | $189.5M-7.9% |
| Current Assets | $157.3M-6.7% | $175.3M+8.6% | $174.4M+14.7% | $167.1M+18.9% | $168.5M+24.8% | $161.5M+16.9% | $152.0M+5.2% | $140.6M-6.8% |
| Cash & Equivalents | $18.0M+12.4% | $27.9M+43.0% | $20.0M-1.5% | $15.7M-27.4% | $16.0M+28.9% | $19.5M-5.1% | $20.3M+74.0% | $21.6M+24.1% |
| Short-Term Investments | $38.3M-38.3% | $52.6M-14.4% | $62.9M+4.5% | $62.8M+16.4% | $62.0M+5.5% | $61.4M+19.0% | $60.2M+11.0% | $54.0M-12.4% |
| Inventory | $65.8M+20.7% | $61.1M+26.9% | $56.1M+47.1% | $53.1M+45.4% | $54.5M+50.3% | $48.2M+20.8% | $38.1M-4.3% | $36.5M-14.4% |
| Accounts Receivable | $31.0M-1.3% | $29.3M+11.3% | $30.4M+2.0% | $29.8M+22.2% | $31.4M+32.2% | $26.3M+16.9% | $29.8M-16.1% | $24.4M-0.8% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% | $1.3M0.0% |
| Total Liabilities | $134.5M-14.3% | $154.6M+2.7% | $156.9M+8.9% | $153.0M+13.1% | $156.9M+16.1% | $150.5M+8.3% | $144.0M-0.2% | $135.3M-13.8% |
| Current Liabilities | $85.8M+1.7% | $107.4M+54.1% | $100.8M+58.5% | $88.4M+62.7% | $84.4M+56.6% | $69.7M+21.7% | $63.6M-5.8% | $54.3M-32.2% |
| Non-Current Liabilities | $48.7M-32.9% | $47.2M-41.6% | $56.1M-30.2% | $64.5M-20.2% | $72.5M-10.8% | $80.8M-1.1% | $80.4M+4.7% | $80.9M+5.5% |
| Total Equity | $70.0M+26.3% | $67.6M+21.7% | $64.2M+14.4% | $61.5M+14.9% | $55.4M+12.0% | $55.5M+12.4% | $56.1M+6.6% | $53.5M+11.0% |
| Retained Earnings | -$1.1Bn/m | -$1.1Bn/m | -$1.1Bn/m | -$1.1Bn/m | -$1.1Bn/m | -$1.1Bn/m | -$1.1Bn/m | -$1.1Bn/m |
Not reported in any period shown, so not listed: Long-Term Debt.
CERS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.7Mn/m | -$3.0Mn/m | $6.2M+25.8% | $1.9M-52.7% | -$2.4M-710.0% | -$844K-143.1% | $4.9Mn/m | $4.1Mn/m |
| Depreciation & Amortization | $461K+34.0% | $447K+45.6% | $393K+18.4% | $382K-7.3% | $344K-28.3% | $307K-51.3% | $332K-48.7% | $412K-39.1% |
| Stock-Based Compensation | N/A | $4.9M-26.1% | N/A | N/A | N/A | $6.6M+13.3% | N/A | N/A |
| Capital Expenditures | $873K+83.0% | $233K+108.0% | $1.3M+33.9% | $1.8M+154.2% | $477K+1063.4% | $112K-89.8% | $976K+16166.7% | $721K-72.6% |
| Free Cash Flow | -$3.5Mn/m | -$3.3Mn/m | $4.9M+23.8% | $94K-97.2% | -$2.9M-911.9% | -$956K-211.2% | $4.0Mn/m | $3.3Mn/m |
| Investing Cash Flow | $12.9Mn/m | $9.9Mn/m | -$1.4Mn/m | -$2.5M-152.1% | -$1.1Mn/m | -$1.2M-182.2% | -$7.3M-188.7% | $4.8Mn/m |
| Financing Cash Flow | -$20.0Mn/m | $1.2M+11.3% | -$1.0M-238.2% | $320K+433.3% | -$129Kn/m | $1.1M-80.7% | $746K-36.9% | $60K-99.2% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
CERS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -3.2%+3.3pp | -0.7%+12.9pp | N/A | N/A | -6.5% | -13.5% | N/A | N/A |
| Net Margin | -5.1%+5.8pp | -3.1%+14.8pp | N/A | N/A | -10.9% | -17.8% | N/A | N/A |
| Return on Equity | -4.2%+6.1pp | -2.4%+11.5pp | N/A | 0.0%+5.5pp | -10.3%+1.4pp | -13.9%+5.7pp | N/A | -5.5%+9.6pp |
| Return on Assets | -1.4%+1.3pp | -0.7%+3.0pp | N/A | 0.0%+1.5pp | -2.7%+0.4pp | -3.7%+1.4pp | N/A | -1.6%+2.0pp |
| Current Ratio | 1.83-0.2x | 1.63-0.7x | 1.73-0.7x | 1.89-0.7x | 2.00-0.5x | 2.32-0.1x | 2.39+0.3x | 2.59+0.7x |
| Liabilities-to-Equity | 1.92-0.9x | 2.29-0.4x | 2.44-0.1x | 2.490.0x | 2.83+0.1x | 2.71-0.1x | 2.57-0.2x | 2.53-0.7x |
| Asset Turnover | 0.280.0x | 0.240.0x | N/A | N/A | 0.25 | 0.21 | N/A | N/A |
| FCF Margin | -6.2%-0.6pp | -6.1%-3.9pp | N/A | N/A | -5.6% | -2.2% | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Debt-to-Equity.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Cerus Corp CERS | FY2025 | $233.8M | -$15.6M | -6.7% | $469.6M | 37/100 |
| TriSalus Life Sciences, Inc. TLSI | FY2025 | $45.2M | -$39.2M | -86.9% | $221.1M | 51/100 |
| Perspective Therapeutics, Inc. CATX | FY2025 | N/A | -$103.1M | N/A | $183.8M | — |
| Quantum-Si Incorporated QSI | FY2025 | $2.4M | -$101.3M | N/A | $306.4M | 70/100 |
| Inogen Inc INGN | FY2025 | $348.7M | -$22.7M | -6.5% | $188.4M | 42/100 |
| Outset Medical, Inc. OM | FY2025 | $119.5M | -$81.7M | -68.3% | $77.1M | 62/100 |
Where Cerus Corp Ranks
Frequently Asked Questions
What is Cerus Corp's annual revenue?
Cerus Corp (CERS) reported $233.8M in total revenue for fiscal year 2025. This represents a 16.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cerus Corp's revenue growing?
Cerus Corp (CERS) revenue grew by 16.1% year-over-year, from $201.3M to $233.8M in fiscal year 2025.
Is Cerus Corp profitable?
No, Cerus Corp (CERS) reported a net loss of $15.6M in fiscal year 2025, with a net profit margin of -6.7%.
What is Cerus Corp's EBITDA?
Cerus Corp (CERS) had EBITDA of -$7.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Cerus Corp's operating margin?
Cerus Corp (CERS) had an operating margin of -3.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cerus Corp's net profit margin?
Cerus Corp (CERS) had a net profit margin of -6.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cerus Corp's return on equity (ROE)?
Cerus Corp (CERS) has a return on equity of -24.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cerus Corp's free cash flow?
Cerus Corp (CERS) generated $1.1M in free cash flow during fiscal year 2025. This represents a -87.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cerus Corp's operating cash flow?
Cerus Corp (CERS) generated $4.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cerus Corp's total assets?
Cerus Corp (CERS) had $221.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cerus Corp's capital expenditures?
Cerus Corp (CERS) invested $3.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cerus Corp spend on research and development?
Cerus Corp (CERS) invested $67.7M in research and development during fiscal year 2025.
What is Cerus Corp's current ratio?
Cerus Corp (CERS) had a current ratio of 1.73 as of fiscal year 2025, which is generally considered healthy.
What is Cerus Corp's liabilities-to-equity ratio?
Cerus Corp (CERS) had a liabilities-to-equity ratio of 2.44 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
What is Cerus Corp's return on assets (ROA)?
Cerus Corp (CERS) had a return on assets of -7.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cerus Corp's P/E ratio?
Cerus Corp (CERS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $469.6M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cerus Corp's price-to-sales ratio?
Cerus Corp (CERS) trades at 2.0x sales, its market capitalization divided by $233.8M revenue, FY2025. The market capitalization is $469.6M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cerus Corp's Altman Z-Score?
Cerus Corp (CERS) has an Altman Z-Score of -3.70, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Cerus Corp's Piotroski F-Score?
Cerus Corp (CERS) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cerus Corp's earnings high quality?
Cerus Corp (CERS) reported a net loss of $15.6M while generating $4.8M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Cerus Corp cover its interest payments?
Cerus Corp (CERS) reported an operating loss of $8.7M against $8.3M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Cerus Corp?
Cerus Corp (CERS) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.