Cerus Q3 revenue reaches $64M; loss widens to $550K
Full-year 2026 product revenue guidance remains $229 million to $231 million, including $23 million to $25 million from IFC.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Cerus Corporation (CERS) reported third-quarter 2026 total revenue of $64.0 million, up 6% year over year, including product revenue of $57.7 million, up 10%. Government contract revenue was $6.3 million, down 16%. Net loss attributable to Cerus was $550,000, compared with $19,000 a year earlier; non-GAAP adjusted EBITDA was positive $5.7 million, versus $5.0 million.
Cerus generated $3.0 million in operating cash flow, compared with $1.9 million a year earlier. Cash, cash equivalents, and short-term investments totaled $57.1 million at September 30, 2026. At quarter-end, $35.0 million was outstanding on its term loan and $28.5 million was drawn on its revolving credit facility; an additional $16.5 million was available subject to borrowing base levels.
Cerus announced positive topline Phase 3 RedeS results for the INTERCEPT Blood System for red blood cells; the company said findings and conclusions may change following full analysis of study data, including secondary endpoints. It continues to expect 2026 product revenue of $229 million to $231 million, including $23 million to $25 million from IFC, representing 11% to 12% growth from 2025.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointTotal third-quarter revenue was $64.0 million, up 6% year over year.
- Moderate pointNine-month net loss attributable to Cerus was $5.1 million, versus $13.4 million.
- Moderate pointNine-month non-GAAP adjusted EBITDA was positive $12.7 million, versus $6.1 million.
- Minor pointProduct revenue was $57.7 million, up 10% year over year.
Negative
- Minor pointGovernment contract revenue was $6.3 million, down 16% year over year.
- Minor pointQuarterly net loss attributable to Cerus was $550,000, versus $19,000.
Insights
Analyzing...
8-K Event Classification
Key Figures
Key Terms
Non-GAAP adjusted EBITDA financial
INTERCEPT Fibrinogen Complex medical
FC15 equivalent medical
modular premarket approval regulatory
gross margin financial
Earnings Snapshot
Cerus continues to expect full-year 2026 product revenue of $229 million to $231 million, including IFC revenue of $23 million to $25 million and growth of 11% to 12% from 2025.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much revenue did CERS report in Q3 2026?
What were CERS's Q3 2026 product gross margin and operating expenses?
What cash and debt did CERS report at September 30, 2026?
AI-generated analysis. How Rhea-AI works. Not financial advice.
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): |
(Exact name of Registrant as Specified in Its Charter)
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(Former Name or Former Address, if Changed Since Last Report)
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 November 2, 2026, Cerus Corporation (the “Company”) announced its financial results for its third quarter ended September 30, 2026. A copy of the Company’s press release, entitled “Cerus Corporation Announces Third 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 November 2, 2026, entitled “Cerus Corporation Announces Third 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: |
November 2, 2026 |
By: |
/s/ Kevin D. Green |
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Kevin D. Green, Chief Financial Officer |
Exhibit 99.1
Cerus Corporation Announces Third Quarter 2026 Financial Results
Third quarter 2026 total revenue of $64.0 million; third quarter 2026 product revenue of $57.7 million, +10% Y/Y
Announced positive topline Phase 3 RedeS results of the INTERCEPT Blood System for red blood cells (RBCs)
CONCORD, CA, November 2, 2026 - Cerus Corporation (Nasdaq: CERS) announced today financial results for the third quarter ended September 30, 2026, and provided a business update.
"Our solid performance in Q3 builds upon a strong first half of 2026 and increases our confidence as we approach year-end,” said Vivek Jayaraman, Cerus’s president and chief executive officer. “Continued growth from our IFC business, core platelet franchise and international INT 200 rollout strengthens our foundation as we work to establish INTERCEPT as the global standard of care. The positive topline results we announced today from the Phase 3 RedeS study mark an important milestone as we drive toward extending the benefits of pathogen reduction to red cell transfusions. I’m pleased with our progress and grateful to my colleagues who remain focused on delivering for our customers and the patients they serve.”
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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Change |
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September 30, |
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Change |
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2026 |
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2025 |
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$ |
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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 |
$ |
57.7 |
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$ |
52.7 |
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$ |
5.0 |
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10 |
% |
$ |
168.8 |
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$ |
148.4 |
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$ |
20.4 |
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14 |
% |
Government Contract Revenue |
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6.3 |
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7.5 |
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(1.2 |
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-16 |
% |
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18.4 |
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20.8 |
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(2.4 |
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-12 |
% |
Total Revenue |
$ |
64.0 |
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$ |
60.2 |
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$ |
3.8 |
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6 |
% |
$ |
187.2 |
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$ |
169.2 |
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$ |
18.0 |
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11 |
% |
Numbers may not sum due to rounding. Percentages calculated from unrounded figures. |
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Revenue
Product revenue for the third quarter of 2026 was $57.7 million, compared to $52.7 million for the prior year period, representing year-over-year growth of 10%. Third quarter growth was driven by higher U.S. IFC sales, strength of the U.S. platelet franchise, and INT200 illuminator sales in EMEA.
Government contract revenue for the third quarter of 2026 was $6.3 million, compared to $7.5 million during the prior year period. The decrease reflects the completion of the Company’s FDA contract in 2025 and the wind-down of the Biomedical Advanced Research and Development Authority (BARDA) 2016 contract which was offset in part by an increase in expenses related to the BARDA 2024 contract.
Product Gross Profit & Margin
Product gross profit for the third quarter of 2026 was $30.3 million, compared to $28.1 million, increasing by 8% over the prior year period. Product gross margin for the third quarter was 52.4% compared to 53.4% 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 offset partially by pricing and favorable product mix shift.
Operating Expenses
Total operating expenses for the third quarter of 2026 were $36.2 million, compared to $34.4 million for the same period of the prior year, reflecting a year-over-year increase of 5%.
R&D expenses for the third quarter of 2026 were $14.3 million, compared to $15.8 million in the third quarter of 2025. The decrease primarily reflected lower costs associated with the RedeS study following completion of enrollment, INT200 development following the U.S. PMA submission, and expenses tied to government-funded projects, as reflected in government contract revenue.
SG&A expenses totaled $21.9 million for the third quarter of 2026, compared to $18.6 million for the third quarter of 2025. The year-over-year increase in SG&A expenses was due in part to higher employee-related expenses. In addition, SG&A expenses for Q3 2025 benefited from a one-time tax credit.
Net Loss Attributable to Cerus Corporation
Net loss attributable to Cerus Corporation for the third quarter of 2026 was $0.6 million, or $0.00 per basic and diluted share, compared to a net loss attributable to Cerus Corporation of $0.02 million, or $0.00 per basic and diluted share, for the same period of the prior year. Net loss attributable to Cerus Corporation for the first nine months of 2026 was $5.1 million, compared to net loss attributable to Cerus Corporation of $13.4 million for the first nine months of 2025.
Non-GAAP Adjusted EBITDA
2
Non-GAAP adjusted EBITDA for the third quarter of 2026 was positive $5.7 million, compared to non-GAAP adjusted EBITDA of positive $5.0 million for the same period of the prior year. Non-GAAP adjusted EBITDA for the first nine months of 2026 was a positive $12.7 million compared to non-GAAP adjusted EBITDA of positive $6.1 million for the first nine months of 2025.
Balance Sheet and Cash Flows
At September 30, 2026, the Company had cash, cash equivalents, and short-term investments of $57.1 million, compared to $82.9 million at December 31, 2025 and $56.3 million at June 30, 2026.
As of September 30, 2026, the Company had $35.0 million outstanding on its term loan and $28.5 million drawn on its revolving credit facility, down from $30.1 million drawn at June 30, 2026. Subject to borrowing base levels, the Company’s revolving line of credit allows for an additional $16.5 million as of September 30, 2026.
For the third quarter of 2026, cash generated from operations totaled $3.0 million, compared to $1.9 million generated during the same period of the prior year. Cash generated from operations in the third quarter of 2026 was driven by sequentially improved bottom-line results and inventory management.
Reiterating Full-Year 2026 Product Revenue Guidance
The Company continues to expect 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 full-year 2026 IFC revenue guidance of $23 million to $25 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, topline results from the Phase 3 RedeS study, 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 approximately three hours after the call through November 23, 2026.
*FC15 equivalent to a therapeutic dose of a cryoAHF pool.
Development of the INTERCEPT Blood System for Red Blood Cells has been supported in whole or in part with federal funds from the Department of Health and Human Services; Administration for Strategic Preparedness and Response; Center for Biomedical Advanced Research and Development Authority (BARDA), under contract numbers HHSO100201600009C and 75A50124C00046.
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,
3
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 continuing to have access to $16.5 million under its revolving line of credit; Cerus’ expectations with respect to the FDA’s review of the U.S. PMA submission for Cerus’ new INT200 illumination device; the significance and potential implications of the topline results from the RedeS clinical trial; Cerus’ plans for further clinical and regulatory activities relating to INTERCEPT RBCs; the potential timing, scope and outcome of future interactions related to INTERCEPT RBCs with the FDA and other regulatory authorities; Cerus’ ability to advance the INTERCEPT Blood System for RBCs toward regulatory submissions and potential approvals in the United States, Europe and other jurisdictions; Cerus’ expectations with respect to 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; 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 topline RedeS results reported herein and related findings and conclusions may change following completion of the full analysis of the study data, including secondary endpoints; 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 regulatory decision with respect to Cerus’ modular PMA application for the INT200 may not occur on the timeline
4
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 September 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 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 |
Nine Months Ended |
|
September 30, |
September 30, |
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2026 vs. 2025 |
2026 vs. 2025 |
Platelet Kit Growth |
|
|
North America |
5% |
4% |
International |
-3% |
5% |
Worldwide |
3% |
4% |
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|
|
Change in Calculated Number of Treatable Platelet Doses |
|
|
North America |
5% |
6% |
International |
-4% |
3% |
Worldwide |
2% |
5% |
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 |
Nine Months Ended |
September 30, |
September 30, |
|
2026 vs. 2025 |
2026 vs. 2025 |
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Total IFC* Demand Growth |
~80% |
~60% |
(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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Nine Months Ended |
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September 30, |
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Change |
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September 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 |
$ |
39,136 |
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$ |
35,031 |
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$ |
4,105 |
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|
12 |
% |
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$ |
114,247 |
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$ |
100,916 |
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$ |
13,331 |
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13 |
% |
Europe, Middle East and Africa |
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17,645 |
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16,744 |
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901 |
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5 |
% |
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51,659 |
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45,569 |
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6,090 |
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13 |
% |
Other |
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933 |
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923 |
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10 |
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1 |
% |
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2,910 |
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1,897 |
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1,013 |
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53 |
% |
Total product revenue |
$ |
57,714 |
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$ |
52,698 |
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$ |
5,016 |
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10 |
% |
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$ |
168,816 |
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$ |
148,382 |
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$ |
20,434 |
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14 |
% |
7
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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Nine Months Ended |
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September 30, |
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September 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 |
|
$ |
57,714 |
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|
$ |
52,698 |
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|
$ |
168,816 |
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|
$ |
148,382 |
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Cost of product revenue |
|
|
27,449 |
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|
24,558 |
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|
|
81,125 |
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|
|
65,843 |
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Gross profit on product revenue |
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30,265 |
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28,140 |
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87,691 |
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|
82,539 |
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Government contract revenue |
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6,304 |
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7,539 |
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|
18,398 |
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|
20,837 |
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Operating expenses: |
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Research and development |
|
|
14,268 |
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|
15,825 |
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43,188 |
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|
51,330 |
|
Selling, general and administrative |
|
|
21,918 |
|
|
|
18,618 |
|
|
|
64,730 |
|
|
|
60,086 |
|
Total operating expenses |
|
|
36,186 |
|
|
|
34,443 |
|
|
|
107,918 |
|
|
|
111,416 |
|
Income (loss) from operations |
|
|
383 |
|
|
|
1,236 |
|
|
|
(1,829 |
) |
|
|
(8,040 |
) |
Total non-operating expense, net |
|
|
(897 |
) |
|
|
(1,171 |
) |
|
|
(3,129 |
) |
|
|
(5,178 |
) |
(Loss) income before income taxes |
|
|
(514 |
) |
|
|
65 |
|
|
|
(4,958 |
) |
|
|
(13,218 |
) |
Provision for income tax |
|
|
66 |
|
|
|
85 |
|
|
|
252 |
|
|
|
235 |
|
Net loss |
|
|
(580 |
) |
|
|
(20 |
) |
|
|
(5,210 |
) |
|
|
(13,453 |
) |
Net loss attributable to noncontrolling interest |
|
|
(30 |
) |
|
|
(1 |
) |
|
|
(80 |
) |
|
|
(10 |
) |
Net loss attributable to Cerus Corporation |
|
$ |
(550 |
) |
|
$ |
(19 |
) |
|
$ |
(5,130 |
) |
|
$ |
(13,443 |
) |
Net loss per share attributable to Cerus Corporation |
|
|
|
|
|
|
|
|
|
|
||||||
Basic and diluted |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.03 |
) |
|
$ |
(0.07 |
) |
Weighted average shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Basic and diluted |
|
|
201,653 |
|
|
|
191,830 |
|
|
|
198,814 |
|
|
|
190,083 |
|
8
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|
|
|
|
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||
CERUS CORPORATION |
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CONDENSED CONSOLIDATED BALANCE SHEETS |
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(in thousands) |
|
|||||||
|
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|
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||
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|
September 30, |
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|
December 31, |
|
||
|
|
2026 |
|
|
2025 |
|
||
|
|
(unaudited) |
|
|
|
|
||
ASSETS |
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
$ |
16,350 |
|
|
$ |
19,961 |
|
Short-term investments |
|
|
40,759 |
|
|
|
62,918 |
|
Accounts receivable, net |
|
|
30,560 |
|
|
|
30,374 |
|
Current inventories |
|
|
64,689 |
|
|
|
56,101 |
|
Prepaid and other current assets |
|
|
4,212 |
|
|
|
5,030 |
|
Total current assets |
|
|
156,570 |
|
|
|
174,384 |
|
Non-current assets: |
|
|
|
|
|
|
||
Property and equipment, net |
|
|
9,423 |
|
|
|
9,204 |
|
Operating lease right-of-use assets |
|
|
8,797 |
|
|
|
10,124 |
|
Goodwill |
|
|
1,316 |
|
|
|
1,316 |
|
Non-current inventories |
|
|
15,635 |
|
|
|
15,143 |
|
Other assets and restricted cash |
|
|
12,988 |
|
|
|
11,688 |
|
Total assets |
|
$ |
204,729 |
|
|
$ |
221,859 |
|
|
|
|
|
|
|
|
||
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Accounts payable and accrued liabilities |
|
$ |
46,758 |
|
|
$ |
53,279 |
|
Debt – current |
|
|
28,504 |
|
|
|
43,343 |
|
Operating lease liabilities – current |
|
|
3,311 |
|
|
|
2,905 |
|
Deferred revenue – current |
|
|
1,433 |
|
|
|
1,274 |
|
Total current liabilities |
|
|
80,006 |
|
|
|
100,801 |
|
Non-current liabilities: |
|
|
|
|
|
|
||
Debt – non-current |
|
|
34,846 |
|
|
|
40,545 |
|
Operating lease liabilities – non-current |
|
|
8,299 |
|
|
|
10,153 |
|
Other non-current liabilities |
|
|
5,216 |
|
|
|
5,395 |
|
Total liabilities |
|
|
128,367 |
|
|
|
156,894 |
|
Stockholders' equity: |
|
|
75,701 |
|
|
|
64,224 |
|
Noncontrolling interest |
|
|
661 |
|
|
|
741 |
|
Total liabilities and stockholders' equity |
|
$ |
204,729 |
|
|
$ |
221,859 |
|
9
CERUS CORPORATION |
|
|
||||||||||||||
UNAUDITED RECONCILIATION OF NON-GAAP ADJUSTED EBITDA |
|
|
||||||||||||||
(in thousands) |
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
||||||||||
|
September 30, |
|
|
September 30, |
|
|
||||||||||
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
||||
Net loss attributable to Cerus Corporation |
$ |
(550 |
) |
|
$ |
(19 |
) |
|
$ |
(5,130 |
) |
|
$ |
(13,443 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjustments to net loss attributable to Cerus Corporation: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net loss attributable to noncontrolling interest |
|
(30 |
) |
|
|
(1 |
) |
|
|
(80 |
) |
|
|
(10 |
) |
|
Provision for income taxes |
|
66 |
|
|
|
85 |
|
|
|
252 |
|
|
|
235 |
|
|
Total non-operating expense, net (i) |
|
897 |
|
|
|
1,171 |
|
|
|
3,129 |
|
|
|
5,178 |
|
|
Income (loss) from operations |
|
383 |
|
|
|
1,236 |
|
|
|
(1,829 |
) |
|
|
(8,040 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Adjustments to income (loss) from operations: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating depreciation and amortization |
|
1,126 |
|
|
|
1,068 |
|
|
|
3,565 |
|
|
|
3,132 |
|
|
Government contract revenue (ii) |
|
(6,304 |
) |
|
|
(7,539 |
) |
|
|
(18,398 |
) |
|
|
(20,837 |
) |
|
Direct expenses attributable to government contracts (iii) |
|
4,363 |
|
|
|
4,640 |
|
|
|
12,736 |
|
|
|
13,908 |
|
|
Share-based compensation (iv) |
|
6,097 |
|
|
|
5,624 |
|
|
|
16,497 |
|
|
|
17,940 |
|
|
Costs attributable to noncontrolling interest (v) |
|
62 |
|
|
|
3 |
|
|
|
164 |
|
|
|
21 |
|
|
Non-GAAP adjusted EBITDA |
$ |
5,727 |
|
|
$ |
5,032 |
|
|
$ |
12,735 |
|
|
$ |
6,124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
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