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 Sep 9, 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 (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 expansion is increasingly reaching the bottom line, but working-capital buildup and leverage still constrain cash conversion.
Operating margin narrowed its loss from-16.1% to-3.7% across the latest two-year span, showing that revenue growth is being met by better operating absorption. Operating cash flow of$4.8M exceeded free cash flow of$1.1M in FY2025 because reinvestment consumed the difference, making the near break-even result cash-backed but not capital-free.
Revenue reached
Inventory rose to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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'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 has an operating margin of -3.7%, meaning the company loses $4 on every $100 of revenue. This results in a profitability score of 29/100. This is up from -7.1% the prior year.
Cerus'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 has elevated debt relative to equity (D/E of 2.44), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 26/100, reflecting increased financial risk.
Cerus'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 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 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 27/100. This is up from -37.3% the prior year.
Cerus scores -3.57, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($505.8M) relative to total liabilities ($156.9M). 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 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), both operating efficiency signals pass.
Cerus 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 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 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's EBITDA was -$1.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 54.6% from the same quarter a year earlier. Against the prior quarter it is down 1602.2%.
Cerus reported -$2.9M in net income in Q2 2026. This represents an increase of 48.5% from the same quarter a year earlier. Against the prior quarter it is down 79.3%.
Cash & Balance Sheet
Cerus recorded an outflow of $3.5M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 20.9% from the same quarter a year earlier. Against the prior quarter it is down 7.7%.
Cerus held $18.0M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Cerus'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'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's ROE was -4.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. 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 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 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 | -$1.9M+45.7% | -$354K+94.0% | N/A | $1.2M+228.6% | -$3.4M+10.8% | -$5.9M+26.6% | N/A | -$961K+81.7% |
| EBITDA | -$1.4M+54.6% | $93K+101.7% | N/A | $1.6M+394.7% | -$3.1M+8.3% | -$5.5M+24.5% | N/A | -$549K+88.0% |
| 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% | $76K+235.7% | $74K0.0% | N/A | $76K-2.6% |
| Net Income | -$2.9M+48.5% | -$1.6M+78.7% | N/A | -$19K+99.4% | -$5.7M+1.2% | -$7.7M+20.3% | N/A | -$2.9M+59.6% |
| EPS (Basic) | -$0.01+66.7% | -$0.01+75.0% | -$0.010.0% | $0.00+100.0% | -$0.030.0% | -$0.04+20.0% | -$0.010.0% | -$0.02+50.0% |
| EPS (Diluted) | -$0.01 | -$0.01+75.0% | -$0.010.0% | $0.00+100.0% | -$0.030.0% | -$0.04+20.0% | -$0.010.0% | -$0.02+50.0% |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| 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 | -$1.1B-0.6% | -$1.1B-0.9% | -$1.1B-1.5% | -$1.1B-1.5% | -$1.1B-1.8% | -$1.1B-1.8% | -$1.1B-2.0% | -$1.1B-1.9% |
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 | -$2.7M-8.8% | -$3.0M-261.3% | $6.2M+25.8% | $1.9M-52.7% | -$2.4M-710.0% | -$844K-143.1% | $4.9M+132.5% | $4.1M+138.8% |
| 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 | -$3.5M-20.9% | -$3.3M-243.3% | $4.9M+23.8% | $94K-97.2% | -$2.9M-911.9% | -$956K-211.2% | $4.0M+126.0% | $3.3M+125.5% |
| Investing Cash Flow | $12.9M+1281.5% | $9.9M+929.3% | -$1.4M+81.1% | -$2.5M-152.1% | -$1.1M+84.7% | -$1.2M-182.2% | -$7.3M-188.7% | $4.8M+1851.6% |
| Financing Cash Flow | -$20.0M-15434.1% | $1.2M+11.3% | -$1.0M-238.2% | $320K+433.3% | -$129K+90.8% | $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 |
| Debt-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.
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 CERS | FY2025 | $233.8M | -$15.6M | -6.7% | $505.8M | 37/100 |
| TriSalus Life Sciences Inc. TLSI | FY2025 | $45.2M | -$39.2M | -86.9% | $291.2M | 49/100 |
| Perspective Therapeutics Inc CATX | FY2025 | N/A | -$103.1M | N/A | $356.2M | — |
| Quantum-Si Incorporated QSI | FY2025 | $2.4M | -$101.3M | N/A | $166.4M | 58/100 |
| Inogen Inc INGN | FY2025 | $348.7M | $22.7M | 6.5% | $138.8M | 42/100 |
| Outset Medical, Inc. OM | FY2025 | $119.5M | -$81.7M | -68.3% | $65.2M | 61/100 |
Where Cerus Ranks
Frequently Asked Questions
What is Cerus's annual revenue?
Cerus (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's revenue growing?
Cerus (CERS) revenue grew by 16.1% year-over-year, from $201.3M to $233.8M in fiscal year 2025.
Is Cerus profitable?
No, Cerus (CERS) reported a net income of -$15.6M in fiscal year 2025, with a net profit margin of -6.7%.
What is Cerus's EBITDA?
Cerus (CERS) had EBITDA of -$7.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Cerus's operating margin?
Cerus (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's net profit margin?
Cerus (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's return on equity (ROE)?
Cerus (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's free cash flow?
Cerus (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's operating cash flow?
Cerus (CERS) generated $4.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cerus's total assets?
Cerus (CERS) had $221.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cerus's capital expenditures?
Cerus (CERS) invested $3.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cerus spend on research and development?
Cerus (CERS) invested $67.7M in research and development during fiscal year 2025.
What is Cerus's current ratio?
Cerus (CERS) had a current ratio of 1.73 as of fiscal year 2025, which is generally considered healthy.
What is Cerus's debt-to-equity ratio?
Cerus (CERS) had a debt-to-equity ratio of 2.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cerus's return on assets (ROA)?
Cerus (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's P/E ratio?
Cerus (CERS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $505.8M as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cerus's price-to-sales ratio?
Cerus (CERS) trades at 2.2x sales, its market capitalization divided by revenue of $233.8M revenue, FY2025. The market capitalization is $505.8M as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cerus's Altman Z-Score?
Cerus (CERS) has an Altman Z-Score of -3.57, 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's Piotroski F-Score?
Cerus (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's earnings high quality?
Cerus (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 cover its interest payments?
Cerus (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?
Cerus (CERS) scores 37 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite 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.