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Sep 30, 2024
Cerus Q3 2024 Earnings Report
Cerus' Q3 2024 financial results were announced, with product revenue increasing by 16% compared to the prior year period, and full-year 2024 total product revenue guidance raised.
Key Takeaways
Cerus Corporation reported a 16% increase in product revenue for the third quarter of 2024 compared to the previous year, driven by growth in the platelets business, particularly in North America. The company narrowed its GAAP net loss and generated positive non-GAAP adjusted EBITDA. Cerus raised its full-year 2024 product revenue guidance to $177 million to $179 million.
Product revenue increased by 16% compared to the prior year period.
GAAP net loss attributable narrowed to $2.9 million and generated positive non-GAAP adjusted EBITDA of $4.4 million.
Positive operating cash flows were generated for the third straight quarter of 2024.
Full-year product revenue guidance was raised to a range of $177 million to $179 million.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company is raising its full-year 2024 product revenue guidance to a range of $177 million to $179 million from the prior range of $175 million to $178 million. Alongside this raise in guidance, the Company is raising the bottom end of its full-year 2024 IFC revenue guidance to a new range of $9 million to $10 million from $8 million to $10 million.
Positive Outlook
- Full-year 2024 product revenue guidance raised to $177 million - $179 million.
- Full-year 2024 IFC revenue guidance raised to $9 million - $10 million.
- Expecting product gross margin levels to remain relatively consistent for the fourth quarter.
- SG&A expenses are expected to be relatively consistent for the balance of the year, driving increased leverage at these levels.
- Company continues to focus on achieving non-GAAP adjusted EBITDA breakeven for the full-year 2024.
Challenges Ahead
- Actual results could differ materially from these forward-looking statements as a result of certain factors.
- Risks associated with macroeconomic developments, including ongoing military conflicts in Ukraine and Israel and the COVID-19 pandemic and resulting global economic and financial disruptions.
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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