$CERS

CERUS CORP

CIK:0001020214|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue	$ 57,441	$ 52,445	$ 111,102	$ 95,684
Government contract revenue	5,862	7,684	12,094	13,298
Operating expenses:
Research and development	14,388	18,900	28,920	35,505
Selling, general and administrative	22,864	21,182	42,812	41,468
Total operating expenses	37,252	40,082	71,732	76,973
Loss from operations	(1,858)	(3,423)	(2,212)	(9,276)
Non-operating expense, net:
Foreign exchange (loss) gain	(49)	(911)	101	(1,198)
Interest expense	(1,714)	(2,150)	(3,586)	(4,260)
Other income, net	734	845	1,253	1,451
Total non-operating expense, net	(1,029)	(2,216)	(2,232)	(4,007)
Loss before income taxes	(2,887)	(5,639)	(4,444)	(13,283)
Provision for income tax	95	76	186	150
Net loss	(2,982)	(5,715)	(4,630)	(13,433)
Net loss attributable to noncontrolling interest	(42)	(8)	(50)	(9)
Net loss attributable to Cerus Corporation	$ (2,940)	$ (5,707)	$ (4,580)	$ (13,424)
Net loss per share attributable to Cerus Corporation
Basic	$ (0.01)	$ (0.03)	$ (0.02)	$ (0.07)
Diluted	$ (0.01)	$ (0.03)	$ (0.02)	$ (0.07)
Weighted average shares outstanding:
Basic	200,565	191,301	197,371	189,195
Diluted	200,565	191,301	197,371	189,195
Product
Revenue	$ 57,441	$ 52,445	$ 111,102	$ 95,684
Cost of revenue	27,909	23,470	53,676	41,285
Gross profit	$ 29,532	$ 28,975	$ 57,426	$ 54,399

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (4,630)	$ (13,433)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	908	651
Stock-based compensation	10,400	12,316
Non-cash operating lease cost	1,361	1,336
Net loss on sale of available-for-sale securities	3	2
Unrealized gain on investments	(124)	(128)
Non-cash interest expense	233	197
Foreign currency remeasurement (gain) loss	(249)	508
Changes in operating assets and liabilities:
Accounts receivable	(777)	(1,226)
Inventories	(10,416)	(12,210)
Prepaid and other assets	663	(811)
Accounts payable	6,085	7,842
Accrued liabilities and other non-current liabilities	(9,459)	853
Deferred revenue	292	813
Net cash used in operating activities	(5,710)	(3,290)
Investing activities
Capital expenditures	(1,106)	(589)
Purchases of investments	(8,940)	(20,477)
Proceeds from maturities and sale of investments	32,772	18,788
Net cash provided by (used in) investing activities	22,726	(2,278)
Financing activities
Net proceeds from equity incentives	263	326
Net costs from public offerings	(55)	(87)
Net proceeds from revolving line of credit	11,120	703
Payments on loans	(30,000)
Debt issuance costs	(175)
Net cash (used in) provided by financing activities	(18,847)	942
Effect of exchange rates on cash, cash equivalents, and restricted cash	(162)	396
Net decrease in cash, cash equivalents, and restricted cash	(1,993)	(4,230)
Cash, cash equivalents, and restricted cash, beginning of period	20,600	21,361
Cash, cash equivalents, and restricted cash, end of period	$ 18,607	$ 17,131

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 17,980	$ 19,961
Short-term investments	38,284	62,918
Accounts receivable, net	30,975	30,374
Current inventories	65,813	56,101
Prepaid and other current assets	4,256	5,030
Total current assets	157,308	174,384
Non-current assets:
Property and equipment, net	9,415	9,204
Operating lease right-of-use assets	8,915	10,124
Goodwill	1,316	1,316
Restricted cash	627	639
Non-current inventories	15,402	15,143
Other assets	12,204	11,049
Total assets	205,187	221,859
Current liabilities:
Accounts payable	33,518	28,008
Accrued liabilities	17,370	25,271
Debt – current	30,088	43,343
Operating lease liabilities – current	3,247	2,905
Deferred revenue	1,567	1,274
Total current liabilities	85,790	100,801
Non-current liabilities:
Debt – non-current	34,828	40,545
Operating lease liabilities – non-current	8,636	10,153
Other non-current liabilities	5,218	5,395
Total liabilities	134,472	156,894
Commitments and contingencies (Note 7)
Stockholders' equity:
Common Stock	201	192
Additional paid-in capital	1,155,941	1,145,343
Accumulated other comprehensive loss	(383)	(156)
Accumulated deficit	(1,085,735)	(1,081,155)
Total Cerus Corporation stockholders' equity	70,024	64,224
Noncontrolling interest	691	741
Total liabilities and stockholders' equity	$ 205,187	$ 221,859