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Mar 31, 2022
Cerus Q1 2022 Earnings Report
Total revenue grew 46% year-over-year, driven by INTERCEPT platelet uptake in the U.S., and full-year product revenue guidance was increased.
Key Takeaways
Cerus Corporation reported a strong first quarter with a 46% increase in total revenue, driven by increased sales of INTERCEPT platelet kits in the U.S. The company increased its full-year product revenue guidance from $157-164 million to $160-165 million.
Total revenue increased by 46% year-over-year to $43.0 million.
Product revenue increased by 60% year-over-year to $37.4 million, driven by INTERCEPT platelet kits in the U.S.
Net loss improved by $5.2 million to $12.3 million, or $0.07 per share.
Full-year 2022 product revenue guidance was increased to $160-165 million, representing approximately 22%-26% growth.
Cerus
Cerus
Cerus Revenue by Segment
Cerus Revenue by Geographic Location
Revenue by Segment
Product Revenue
CapyFin.comGovernment Contract Revenue
CapyFin.comRevenue by Geographic Location
North America Revenue
CapyFin.comEurope, Middle East and Africa Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The Company expects full-year 2022 product revenue will be in the range of $160-165 million, representing strong growth of approximately 22%-26% compared to full-year 2021 product revenue of $130.9 million.
Positive Outlook
- Strong growth of approximately 22%-26% compared to full-year 2021
- Increased demand for INTERCEPT platelet kits
- Continued progress scaling up operations
- Additional manufacturing capacity coming online in 2022
- Financial discipline, resulting in operating leverage
Challenges Ahead
- Risks associated with commercialization and market acceptance of the INTERCEPT Blood System
- Risks associated with the ultimate duration and severity of the COVID-19 pandemic
- Risks related to Fresenius Kabi’s efforts to assure an uninterrupted supply of platelet additive solution (PAS)
- Risks related to adverse market and economic conditions
- Cerus’ reliance on third parties to market, sell, distribute and maintain its products
Revenue & Expenses
Visualization of income flow from segment revenue to net income