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Sep 30, 2022
Cerus Q3 2022 Earnings Report
Cerus's Q3 2022 performance reflected a 10% increase in total revenue year-over-year, driven by product revenue growth and government contract revenue.
Key Takeaways
Cerus Corporation reported a 10% increase in total revenue for Q3 2022, reaching $46.3 million. Product revenue also grew by 10% year-over-year to $39.6 million despite a 6% foreign exchange headwind. The company's net loss improved by $3.9 million compared to the prior year period, and cash, cash equivalents, and short-term investments totaled $103.8 million.
Total revenue reached $46.3 million, a 10% increase compared to Q3 2021.
Product revenue grew by 10% to $39.6 million, despite a 6% FX headwind.
Net loss attributable to Cerus Corporation improved to $8.5 million, or $0.05 per share.
Cash, cash equivalents, and short-term investments were $103.8 million as of September 30, 2022.
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.comOther Revenue
CapyFin.com Forward Guidance
Cerus narrowed its full-year 2022 product revenue guidance to a range of $160 million to $162 million, anticipating continued strong demand and the strength of the U.S. dollar versus the Euro.
Positive Outlook
- Continued strong demand for INTERCEPT platelets expected.
- Expanded adoption of IFC product anticipated.
- Expectation of continued strength of the U.S. dollar versus the Euro.
- Progress towards goal of cashflow breakeven.
- Business of safeguarding the global blood supply is resilient.
Challenges Ahead
- Ongoing headwinds associated with unfavorable foreign exchange rates.
- Macroeconomic and geopolitical challenges.
- Potential disruptions to the U.S. and EMEA blood supply resulting from evolving impact of macroeconomic developments.
- Risks associated with commercialization and market acceptance of INTERCEPT Blood System.
- Uncertainty of future capital requirements.