Cerus Corporation (Nasdaq: CERS) raises 2026 outlook after Q2 2026 results
Rhea-AI Filing Summary
Cerus Corporation reported Q2 2026 total revenue of $63.3 million, up 5% year over year, with product revenue of $57.4 million growing 10% and broad-based strength across product categories. INTERCEPT Fibrinogen Complex demand rose about 20%, and U.S. IFC sales reached $6.7 million versus $5.6 million.
Product gross profit was $29.5 million, though product gross margin declined to 51.4% from 55.2% due to currency and higher costs. Operating expenses fell 7% to $37.3 million, helping narrow net loss attributable to Cerus to $2.9 million, or $0.01 per share, while non-GAAP adjusted EBITDA improved to a positive $3.0 million.
Cash, cash equivalents and short-term investments totaled $56.3 million, with $35.0 million outstanding on the term loan and $30.1 million drawn on the revolver after a refinancing that reduced the term loan by $30 million. A BARDA contract expansion added $21.9 million of potential value to support INTERCEPT Red Blood Cell development. Management raised 2026 product revenue guidance to $229–$231 million, including higher IFC guidance of $23–$25 million, implying 11–12% and roughly 40–50% growth from 2025.
Positive
- Q2 2026 product revenue rose 10% to $57.4 million, driving total revenue to $63.3 million, a 5% year-over-year increase with growth across all product categories.
- Non-GAAP adjusted EBITDA turned up to $3.0 million from $0.9 million a year earlier, while net loss narrowed to $2.9 million or $0.01 per share.
- 2026 product revenue guidance was raised to $229–$231 million, including higher IFC guidance of $23–$25 million, implying 11–12% overall product growth and approximately 40–50% IFC growth year over year.
- The BARDA contract for the INTERCEPT Red Blood Cell system increased by $21.9 million, bringing its total potential value to $270.5 million and supporting ongoing development.
- Cerus completed a debt refinancing that reduced its term loan by $30 million, using $20 million of cash and $10 million from a new lower-cost revolving credit facility.
Negative
- Product gross margin fell to 51.4% from 55.2% year over year, pressured by a weaker U.S. dollar versus the Euro and higher inflation-driven product costs.
- Government contract revenue declined to $5.9 million in Q2 2026 from $7.7 million a year earlier, reflecting contract wind-downs and timing of BARDA-related expenses.
- Cash, cash equivalents and short-term investments decreased to $56.3 million from $82.9 million at December 31, 2025, while $65.1 million of debt remained outstanding.
- Cash used in operations was $2.7 million in Q2 2026, slightly higher than $2.4 million a year earlier, largely tied to higher inventory to support expected growth.
Filing Explained
The completed refinancing leaves up to $14.9 million of additional borrowing capacity, contingent on eligible assets, rather than committed new cash.
The company reports that it submitted a PMA to the FDA for the INTERCEPT Blood System for Platelets with the INT200 Illuminator. A regulatory decision is anticipated in early
The completed refinancing also leaves up to
8-K Event Classification
Key Figures
Key Terms
INTERCEPT Fibrinogen Complex medical
non-GAAP adjusted EBITDA financial
premarket approval regulatory
Pathogen Reduced Cryoprecipitated Fibrinogen Complex medical
Biomedical Advanced Research and Development Authority regulatory
Earnings Snapshot
For full-year 2026, Cerus expects product revenue of $229–$231 million, representing 11–12% growth from 2025, including INTERCEPT Fibrinogen Complex revenue of $23–$25 million, approximately 40–50% higher than 2025.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Trading |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On July 30, 2026, Cerus Corporation (the “Company”) announced its financial results for its second quarter ended June 30, 2026. A copy of the Company’s press release, entitled “Cerus Corporation Announces Second Quarter 2026 Financial Results,” is furnished pursuant to Item 2.02 as Exhibit 99.1 hereto.
The information in this report, including the exhibit hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of Section 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by the Company, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is furnished with this report:
99.1 Press release, dated July 30, 2026, entitled “Cerus Corporation Announces Second Quarter 2026 Financial Results.”
104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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CERUS CORPORATION |
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Date: |
July 30, 2026 |
By: |
/s/ Kevin D. Green |
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Kevin D. Green |
Exhibit 99.1
Cerus Corporation Announces Second Quarter 2026 Financial Results
Second Quarter 2026 Total Revenue of $63.3 million; Second Quarter 2026 Product Revenue of $57.4 million, +10% Y/Y
Raising Lower End of 2026 Product Revenue Guidance: Range now $229 to $231 million;
Raising 2026 IFC Sales Outlook to $23 to $25 million, up approximately 40% to 50% Y/Y
CONCORD, CA, July 30, 2026 - Cerus Corporation (Nasdaq: CERS) announced today financial results for the second quarter ended June 30, 2026, and provided a business update.
“This quarter we made significant progress in expanding patient access to safer blood components around the globe,” said Vivek Jayaraman, Cerus’ president and chief executive officer. “I’m particularly pleased with the performance of our INTERCEPT Fibrinogen Complex (IFC) franchise in the U.S. The value proposition for blood centers, hospitals and clinicians is resonating and leading to earlier patient access to fibrinogen across the country. We view IFC as a compelling growth driver for Cerus.”
Additional highlights include:
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Three Months Ended |
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Six Months Ended |
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June 30, |
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Change |
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June 30, |
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Change |
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2026 |
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2025 |
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$ |
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% |
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2026 |
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2025 |
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$ |
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% |
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Product Revenue |
$ |
57.4 |
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$ |
52.4 |
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$ |
5.0 |
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10 |
% |
$ |
111.1 |
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$ |
95.7 |
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$ |
15.4 |
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16 |
% |
Government Contract Revenue |
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5.9 |
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7.7 |
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(1.8 |
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-24 |
% |
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12.1 |
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13.3 |
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(1.2 |
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-9 |
% |
Total Revenue |
$ |
63.3 |
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$ |
60.1 |
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$ |
3.2 |
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5 |
% |
$ |
123.2 |
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$ |
109.0 |
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$ |
14.2 |
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13 |
% |
Numbers may not sum due to rounding. Percentages calculated from unrounded figures. |
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Revenue
Product revenue for the second quarter of 2026 was $57.4 million, compared to $52.4 million for the prior year period, representing year-over-year growth of 10%. Second quarter growth was driven by increases across all product categories.
Government contract revenue for the second quarter of 2026 was $5.9 million, compared to $7.7 million during the prior year period. The decrease reflects the completion of the Company’s FDA contract in 2025, the wind-down of the BARDA 2016 contract, and timing of expenses related to the BARDA 2024 contract.
Product Gross Profit & Margin
Product gross profit for the second quarter of 2026 was $29.5 million, compared to $29.0 million, increasing by 2% over the prior year period. Product gross margin for the second quarter was 51.4% compared to 55.2% in the same period last year. The year-over-year decrease in gross margin was largely driven by a weaker U.S. dollar relative to the Euro and higher product costs driven by inflationary pressures.
Operating Expenses
Total operating expenses for the second quarter of 2026 were $37.3 million, compared to $40.1 million for the same period of the prior year, reflecting a year-over-year decrease of 7%.
R&D expenses for the second quarter of 2026 were $14.4 million, compared to $18.9 million in the second quarter of 2025. The primary contributors to lower R&D expenses were decreased development costs on the INT200, with the U.S. PMA submission completed, as well as lower development costs tied to government-funded projects, as reflected in the government contract revenue.
SG&A expenses totaled $22.9 million for the second quarter of 2026, compared to $21.2 million for the second quarter of 2025. The year-over-year increase in SG&A expenses was due to higher costs across various functions.
Net Loss Attributable to Cerus Corporation
Net loss attributable to Cerus Corporation for the second quarter of 2026 was $2.9 million, or $0.01 per basic and diluted share, compared to a net loss attributable to Cerus Corporation of $5.7 million, of $0.03 per basic and diluted share, for the same period of the prior year. Net loss attributable to Cerus Corporation for the first half of 2026 was $4.6 million, compared to a net loss attributable to Cerus Corporation of $13.4 million for the first half of 2025.
Non-GAAP Adjusted EBITDA
Non-GAAP adjusted EBITDA for the second quarter of 2026 was positive $3.0 million, compared to non-GAAP adjusted EBITDA of positive $0.9 million for the same period of the prior year. Non-GAAP adjusted EBITDA for the first half of 2026 was a positive $7.0 million compared to non-GAAP adjusted EBITDA of positive $1.1 for the first half of 2025.
Balance Sheet and Cash Flows
At June 30, 2026, the Company had cash, cash equivalents, and short-term investments of $56.3 million, compared to $82.9 million at December 31, 2025.
2
As of June 30, 2026, the Company had $35.0 million outstanding on its term loan and $30.1 million drawn on its revolving credit facility. The Company’s revolving line of credit allows for an additional $14.9 million as of June 30, 2026, which is dependent on eligible assets supporting the borrowing base.
For the second quarter of 2026, cash used in operations totaled $2.7 million compared to $2.4 million used during the same period of the prior year. Cash use in operations in the second quarter of 2026 was tied to an increase in working capital, namely inventory in support of the expected growth.
Narrowing And Raising Low End of 2026 Product Revenue Guidance
The Company now expects full-year 2026 product revenue to be in the range of $229 million to $231 million, reflecting growth of 11% to 12% from 2025. Included in this range is increased full-year 2026 IFC revenue guidance of $23 million to $25 million. Previously, the Company’s 2026 product revenue guidance range was $227 million to $231 million, including IFC revenue guidance between $22 million to $24 million.
Quarterly Conference Call
The Company will host a conference call at 4:30 P.M. ET this afternoon, during which management will discuss the Company’s financial results and provide a general business overview and outlook. To listen to the live webcast, please visit the Investor Relations page of the Cerus website at http://www.cerus.com/ir.
A replay will be available on Cerus’ website and will be available approximately three hours after the call through August 20, 2026.
*FC15 equivalent to a therapeutic dose of a cryoAHF pool.
ABOUT CERUS
Cerus Corporation is dedicated solely to safeguarding the world’s blood supply and aims to become the preeminent global blood products company. Headquartered in Concord, California, the company develops and supplies vital technologies and pathogen-protected blood components to blood centers, hospitals, and ultimately patients who rely on safe blood. The INTERCEPT Blood System for platelets and plasma is available globally and remains the only pathogen reduction system with both CE mark and FDA approval for these two blood components. In the U.S., the INTERCEPT Blood System for Cryoprecipitation is approved for the production of Pathogen Reduced Cryoprecipitated Fibrinogen Complex (commonly referred to as INTERCEPT Fibrinogen Complex), a therapeutic product for the treatment and control of bleeding, including massive hemorrhage, associated with fibrinogen deficiency. The INTERCEPT red blood cell system is under regulatory review in Europe, and in late-stage clinical development in the U.S. For more information about Cerus, visit www.cerus.com and follow us on LinkedIn.
Cerus, INTERCEPT, and the Cerus logo are trademarks of Cerus Corporation.
Forward-Looking Statements
Except for the historical statements contained herein, this press release contains forward-looking statements concerning Cerus’ products, prospects and expected results, including statements relating to: Cerus’ expectation that full-year 2026 product revenue will be in the range of $229 million to $231 million, including IFC revenue of between $23 million to $25 million; Cerus’ expectation that full-year 2026 product revenue will grow 11% to 12% year over year; Cerus’ expectation that full-year 2026 IFC sales will grow
3
approximately 40% to 50%; Cerus continuing to have access to $14.9 million under its revolving line of credit; Cerus’ anticipated catalyst path in 2026 and the timing of catalyst events, including ongoing INTERCEPT RBC regulatory review in Europe, the Phase 3 RedeS readout in the U.S., and the U.S. PMA submission for Cerus’ new INT200 illumination device; Cerus’ expectations with respect to the expansion of its 2024 BARDA contract and its collaboration with Blood Centers of America; Cerus’ ability to continue to improve global access to its INTERCEPT technologies, Cerus’ anticipated growth trajectory, and potential market opportunities; Cerus’ ability to advance its product development programs; the continued commercialization and launch of INT200 and IFC; the anticipated impact of Cerus’ recent debt refinancing; and other statements that are not historical fact. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation: risks associated with the commercialization and market acceptance of, and customer demand for, the INTERCEPT Blood System and IFC; the risk that Cerus may not meet its 2026 annual product revenue guidance; the risk that Cerus may not effectively continue to launch and commercialize the INTERCEPT Blood System for Cryoprecipitation or INT200; the risk that Cerus may not grow sales globally, including in its U.S. and European markets, and/or realize expected revenue contributions resulting from its U.S. and European market agreements; the risk that the U.S. RedeS study may take longer than Cerus expects or may not be completed at all or, if completed, may not demonstrate the safety and/or efficacy of the red blood cell system; risks related to the uncertain and time-consuming development and regulatory process, including the risk that Cerus may be unable to obtain requisite regulatory approvals to advance its pipeline programs and bring them to market in a timely manner or at all, including the risks that existing clinical data may be insufficient in order to obtain a CE Certificate of Conformity and affix a CE Mark to the red blood cell system and its planned modular premarket approval, or PMA, application for the red blood cell system may not be submitted to the FDA on the timeline Cerus anticipates or at all and/or the submission and regulatory decision with respect to Cerus’ modular PMA application for the INT200 may not occur on the timeline Cerus anticipates or at all; risks associated with macroeconomic developments, including the ongoing military conflict in Ukraine and the ongoing military conflict involving Iran, the U.S. and Israel, new or increased tariffs and escalating trade tensions, inflation, rising interest rates and foreign exchange volatility and the resulting global economic and financial disruptions; risks related to Cerus’ ability to demonstrate to the transfusion medicine community and other healthcare constituencies that pathogen reduction and the INTERCEPT Blood System are safe, effective and economical; risks related to product safety; risks associated with Cerus’ ability to maintain an effective, secure manufacturing supply chain, including risks that (a) Cerus’ supply chain could be negatively impacted as a result of macroeconomic developments, (b) Cerus’ manufacturers could be unable to comply with extensive regulatory agency requirements, and (c) Cerus may be unable to maintain its supply agreements with its third-party suppliers; risks associated with Cerus’ ability to access additional funds under its credit facility and to meet its debt service obligations, and its need for additional funding; risks associated with the impact of legislative or regulatory healthcare reforms that may make it more difficult and costly for Cerus to produce, market and distribute its products; as well as other risks detailed in Cerus’ filings with the Securities and Exchange Commission, including under the heading “Risk Factors” in Cerus’ Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026 and Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Cerus disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release.
Use of Non-GAAP Financial Measures
We define adjusted EBITDA as net loss attributable to Cerus Corporation as reported on the consolidated statement of operations, as adjusted to exclude, as applicable for the reporting period(s) presented, (i) net loss attributable to noncontrolling interest, (ii) provision for income taxes, (iii) foreign exchange (loss)/gain, (iv) interest income (expense), (v) other income (expense), net, (vi) depreciation and amortization, (vii) share-based compensation, (viii) goodwill and asset impairments, (ix) costs associated with our
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noncontrolling interest in our joint venture in China and, (x) revenue and direct costs associated with our government contracts. We are presenting this non-GAAP financial measure to assist investors in assessing our operating results. Management believes this non-GAAP information is useful for investors, when considered in conjunction with Cerus’ GAAP financial statements, because management uses such information internally for its operating, budgeting and financial planning purposes. Non-GAAP information is not prepared under a comprehensive set of accounting rules and should only be used to supplement an understanding of Cerus’ operating results as reported under GAAP. This non-GAAP financial measure should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. This non-GAAP financial measure is not necessarily comparable to similarly-titled measures presented by other companies.
Contact:
Tim Lee – Head of Investor Relations
Cerus Corporation
ir@cerus.com
925-288-6128
5
Supplemental Tables
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Three Months Ended |
Six Months Ended |
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June 30, |
June 30, |
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2026 vs. 2025 |
2026 vs. 2025 |
Platelet Kit Growth |
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North America |
2% |
4% |
International |
-3% |
9% |
Worldwide |
1% |
5% |
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Change in Calculated Number of Treatable Platelet Doses |
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North America |
4% |
6% |
International |
-9% |
6% |
Worldwide |
0% |
6% |
Dose treatable calculation based on the number of kits sold and the product configuration (single and double dose kits) |
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Three Months Ended |
Six Months Ended |
June 30, |
June 30, |
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2026 vs. 2025 |
2026 vs. 2025 |
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Total IFC* Demand Growth |
~20% |
~50% |
(including kits and finished therapeutic doses) |
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*FC15 equivalent to a therapeutic dose of a cryoAHF pool. |
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6
CERUS CORPORATION |
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REVENUE BY REGION |
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(in thousands, except percentages) |
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Three Months Ended |
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Six Months Ended |
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June 30, |
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Change |
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June 30, |
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Change |
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2026 |
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2025 |
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$ |
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% |
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2026 |
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2025 |
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$ |
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% |
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North America |
$ |
38,356 |
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$ |
35,286 |
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$ |
3,070 |
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|
9 |
% |
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$ |
75,111 |
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$ |
65,886 |
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$ |
9,225 |
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14 |
% |
Europe, Middle East and Africa |
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18,336 |
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16,612 |
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1,724 |
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10 |
% |
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34,014 |
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28,824 |
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5,190 |
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18 |
% |
Other |
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749 |
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547 |
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202 |
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37 |
% |
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1,977 |
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974 |
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1,003 |
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103 |
% |
Total product revenue |
$ |
57,441 |
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$ |
52,445 |
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$ |
4,996 |
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10 |
% |
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$ |
111,102 |
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$ |
95,684 |
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$ |
15,418 |
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16 |
% |
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CERUS CORPORATION |
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
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UNAUDITED |
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(in thousands, except per share data) |
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Product revenue |
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$ |
57,441 |
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$ |
52,445 |
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$ |
111,102 |
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$ |
95,684 |
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Cost of product revenue |
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27,909 |
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23,470 |
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53,676 |
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41,285 |
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Gross profit on product revenue |
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29,532 |
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28,975 |
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57,426 |
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54,399 |
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Government contract revenue |
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5,862 |
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7,684 |
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12,094 |
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13,298 |
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Operating expenses: |
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Research and development |
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14,388 |
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18,900 |
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28,920 |
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35,505 |
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Selling, general and administrative |
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22,864 |
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21,182 |
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42,812 |
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41,468 |
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Total operating expenses |
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37,252 |
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40,082 |
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71,732 |
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76,973 |
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Loss from operations |
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(1,858 |
) |
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(3,423 |
) |
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(2,212 |
) |
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(9,276 |
) |
Total non-operating expense, net |
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(1,029 |
) |
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(2,216 |
) |
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(2,232 |
) |
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(4,007 |
) |
Loss before income taxes |
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(2,887 |
) |
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(5,639 |
) |
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|
(4,444 |
) |
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(13,283 |
) |
Provision for income tax |
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|
95 |
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|
76 |
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|
186 |
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|
150 |
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Net loss |
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(2,982 |
) |
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|
(5,715 |
) |
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(4,630 |
) |
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(13,433 |
) |
Net loss attributable to noncontrolling interest |
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(42 |
) |
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(8 |
) |
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(50 |
) |
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(9 |
) |
Net loss attributable to Cerus Corporation |
|
$ |
(2,940 |
) |
|
$ |
(5,707 |
) |
|
$ |
(4,580 |
) |
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$ |
(13,424 |
) |
Net loss per share attributable to Cerus Corporation |
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Basic and diluted |
|
$ |
(0.01 |
) |
|
$ |
(0.03 |
) |
|
$ |
(0.02 |
) |
|
$ |
(0.07 |
) |
Weighted average shares outstanding: |
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||||
Basic and diluted |
|
|
200,565 |
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191,301 |
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|
197,371 |
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|
|
189,195 |
|
8
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CERUS CORPORATION |
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CONDENSED CONSOLIDATED BALANCE SHEETS |
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(in thousands) |
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June 30, |
|
|
December 31, |
|
||
|
|
2026 |
|
|
2025 |
|
||
|
|
(unaudited) |
|
|
|
|
||
ASSETS |
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
17,980 |
|
|
$ |
19,961 |
|
Short-term investments |
|
|
38,284 |
|
|
|
62,918 |
|
Accounts receivable, net |
|
|
30,975 |
|
|
|
30,374 |
|
Current inventories |
|
|
65,813 |
|
|
|
56,101 |
|
Prepaid and other current assets |
|
|
4,256 |
|
|
|
5,030 |
|
Total current assets |
|
|
157,308 |
|
|
|
174,384 |
|
Non-current assets: |
|
|
|
|
|
|
||
Property and equipment, net |
|
|
9,415 |
|
|
|
9,204 |
|
Operating lease right-of-use assets |
|
|
8,915 |
|
|
|
10,124 |
|
Goodwill |
|
|
1,316 |
|
|
|
1,316 |
|
Non-current inventories |
|
|
15,402 |
|
|
|
15,143 |
|
Other assets and restricted cash |
|
|
12,831 |
|
|
|
11,688 |
|
Total assets |
|
$ |
205,187 |
|
|
$ |
221,859 |
|
|
|
|
|
|
|
|
||
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Accounts payable and accrued liabilities |
|
$ |
50,888 |
|
|
$ |
53,279 |
|
Debt – current |
|
|
30,088 |
|
|
|
43,343 |
|
Operating lease liabilities – current |
|
|
3,247 |
|
|
|
2,905 |
|
Deferred revenue – current |
|
|
1,567 |
|
|
|
1,274 |
|
Total current liabilities |
|
|
85,790 |
|
|
|
100,801 |
|
Non-current liabilities: |
|
|
|
|
|
|
||
Debt – non-current |
|
|
34,828 |
|
|
|
40,545 |
|
Operating lease liabilities – non-current |
|
|
8,636 |
|
|
|
10,153 |
|
Other non-current liabilities |
|
|
5,218 |
|
|
|
5,395 |
|
Total liabilities |
|
|
134,472 |
|
|
|
156,894 |
|
Stockholders' equity: |
|
|
70,024 |
|
|
|
64,224 |
|
Noncontrolling interest |
|
|
691 |
|
|
|
741 |
|
Total liabilities and stockholders' equity |
|
$ |
205,187 |
|
|
$ |
221,859 |
|
9
CERUS CORPORATION |
|
|
||||||||||||||
UNAUDITED RECONCILIATION OF NON-GAAP ADJUSTED EBITDA |
|
|
||||||||||||||
(in thousands) |
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Three Months Ended |
|
|
Six Months Ended |
|
|
||||||||||
|
June 30, |
|
|
June 30, |
|
|
||||||||||
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
||||
Net loss attributable to Cerus Corporation |
$ |
(2,940 |
) |
|
$ |
(5,707 |
) |
|
$ |
(4,580 |
) |
|
$ |
(13,424 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjustments to net loss attributable to Cerus Corporation: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to noncontrolling interest |
|
(42 |
) |
|
|
(8 |
) |
|
|
(50 |
) |
|
|
(9 |
) |
|
Provision for income taxes |
|
95 |
|
|
|
76 |
|
|
|
186 |
|
|
|
150 |
|
|
Total non-operating expense, net (i) |
|
1,029 |
|
|
|
2,216 |
|
|
|
2,232 |
|
|
|
4,007 |
|
|
Loss from operations |
|
(1,858 |
) |
|
|
(3,423 |
) |
|
|
(2,212 |
) |
|
|
(9,276 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjustments to loss from operations: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating depreciation and amortization |
|
1,216 |
|
|
|
1,049 |
|
|
|
2,439 |
|
|
|
2,064 |
|
|
Government contract revenue (ii) |
|
(5,862 |
) |
|
|
(7,684 |
) |
|
|
(12,094 |
) |
|
|
(13,298 |
) |
|
Direct expenses attributable to government contracts (iii) |
|
3,924 |
|
|
|
5,297 |
|
|
|
8,373 |
|
|
|
9,268 |
|
|
Share-based compensation (iv) |
|
5,496 |
|
|
|
5,681 |
|
|
|
10,400 |
|
|
|
12,316 |
|
|
Costs attributable to noncontrolling interest (v) |
|
85 |
|
|
|
15 |
|
|
|
102 |
|
|
|
18 |
|
|
Non-GAAP adjusted EBITDA |
$ |
3,001 |
|
|
$ |
935 |
|
|
$ |
7,008 |
|
|
$ |
1,092 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
i. Includes interest income/expense and foreign exchange gains/losses. |
|
|
||||||||||||||
ii. Represents revenue related to the cost reimbursement provisions under our government contracts. |
|
|
||||||||||||||
iii. Represents the direct expenses attributable to work supporting government contracts, which are reimbursed and reflect under government contract revenue in the condensed consolidated statement of operations. |
|
|
||||||||||||||
iv. Represents non-cash stock-based compensation. |
|
|
|
|
|
|
|
|
|
|
|
|
||||
v. Represents costs associated with the noncontrolling interest in Cerus Zhongbaokang (Shandong) Biomedical Co., LTD. |
|
|
||||||||||||||
10