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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.
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 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