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Mar 31, 2024
Cerus Q1 2024 Earnings Report
Cerus reported a revenue increase driven by strong sales of the INTERCEPT Blood System for Platelets in North America and expansion in the U.S., alongside near-complete adoption by Canadian Blood Services.
Key Takeaways
Cerus Corporation announced financial results for the first quarter ended March 31, 2024, with a 13% increase in total revenue compared to the prior year quarter. Product revenue increased by 24%, driven by strong sales of the INTERCEPT Blood System for Platelets in North America. The company is reiterating its full-year 2024 annual product revenue guidance range of $172 million to $175 million.
Total revenue increased by 13% compared to the prior year quarter.
Product revenue increased by 24% compared to the prior year quarter.
U.S. ReCePI Phase 3 clinical trial successfully met primary endpoint for INTERCEPT Blood System for Red Blood Cells.
The Company is reiterating its full-year 2024 annual product revenue guidance range of $172 million to $175 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company continues to expect full-year 2024 product revenue will be in the range of $172 million to $175 million. Included in this range is full-year 2024 IFC revenue guidance between $8 million to $10 million. The Company expects to report GAAP net loss attributable to Cerus Corporation for the full-year 2024 while also remains committed to adjusted EBITDA breakeven for the full-year 2024.
Positive Outlook
- Company expects full-year 2024 product revenue will be in the range of $172 million to $175 million.
- Full-year 2024 IFC revenue guidance between $8 million to $10 million.
- The Company expects to report GAAP net loss attributable to Cerus Corporation for the full-year 2024.
- Company remains committed to adjusted EBITDA breakeven for the full-year 2024.
- Advanced the LED illuminator program towards the Company’s target commercial launch in the EU in 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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