Cerus Corporation (CERS) 10-Year Financial Performance & Capital Metrics

CERS • • Industrial / General

HealthcareMedical DevicesSurgical & Minimally Invasive DevicesSurgical Energy & Ablation Systems

AboutCerus Corporation operates as a biomedical products company. The company focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion. The company offers INTERCEPT Blood Systems for platelets and plasma, which is designed to inactivate blood-borne pathogens in platelets and plasma donated for transfusion; INTERCEPT Blood System for red blood cells to inactivate blood-borne pathogens in red blood cells donated for transfusion; and INTERCEPT Blood System for Cryoprecipitation that uses its plasma system to produce pathogen reduced cryoprecipitated fibrinogen complex for the treatment and control of bleeding, including massive hemorrhage associated with fibrinogen deficiency, as well as pathogen reduced plasma, cryoprecipitate reduced. It sells platelet and plasma systems through its direct sales force and distributors in the United States, Europe, the Commonwealth of Independent States, the Middle East, Latin America, and internationally. The company was incorporated in 1991 and is headquartered in Concord, California.Show more

Revenue $180M +15.3%
EBITDA -$12M +54.9%
Net Income -$21M +44.2%
EPS (Diluted) -0.11 +47.6%
Gross Margin 55.21%
EBITDA Margin -6.86% +60.9%
Operating Margin -7.89% +58.9%
Net Margin -11.6% +51.6%
ROE -37.92% +38.3%
ROIC -7.83% +55.2%
Debt/Equity 1.72 -4.0%
Interest Coverage -1.60 +55.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 90 (top 10%)
✓Strong 5Y sales CAGR of 19.3%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y17.32%

5Y19.28%

3Y11.27%

TTM13.03%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM19.07%

EPS CAGR

10Y-

5Y-

3Y-

TTM22.33%

ROCE

10Y Avg-46.42%

5Y Avg-27.11%

3Y Avg-20.95%

Latest-10.63%

Peer Comparison

Surgical Energy & Ablation Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
BDMDBaird Medical Investment Holdings Limited	47.01M	1.28	2.61	17.74%	33.62%	33%	0.53
IVFINVO Fertility, Inc.	12.13M	0.80	-0.03	116.25%	-417.01%	-495.09%	0.78
AEMDAethlon Medical, Inc.	2.5M	2.57	-0.03			-0.2%	0.13
HYPDHyperion DeFi, Inc.	27.13M	3.32	-0.06	14.14%	-73.86%	-36.05%
ALURAllurion Technologies Inc.	21.12M	1.72	-0.15	-39.94%	-251.56%
NAOVNanoVibronix, Inc.	2.52M	2.32	-0.17	12.05%	-133.04%	-8.41%	0.19
RBOTVicarious Surgical Inc.	17.9M	2.77	-0.26			-380.42%	0.30
TELATELA Bio, Inc.	47.65M	1.07	-0.80	18.56%	-50.61%	-25.05%	1.51

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	34.22M	37.18M	43.57M	60.91M	74.65M	91.92M	130.86M	162.05M	156.37M	180.27M
Revenue Growth %	-0.06%	0.09%	0.17%	0.4%	0.23%	0.23%	0.42%	0.24%	-0.04%	0.15%
Cost of Goods Sold+	23.46M	20.3M	22.53M	31.63M	33.42M	41.16M	63.48M	74.95M	69.97M	80.75M
COGS % of Revenue	0.69%	0.55%	0.52%	0.52%	0.45%	0.45%	0.49%	0.46%	0.45%	0.45%
Gross Profit+	10.76M	16.89M	21.04M	29.27M	41.23M	50.76M	67.38M	87.09M	86.4M	99.52M
Gross Margin %	0.31%	0.45%	0.48%	0.48%	0.55%	0.55%	0.51%	0.54%	0.55%	0.55%
Gross Profit Growth %	-0.3%	0.57%	0.25%	0.39%	0.41%	0.23%	0.33%	0.29%	-0.01%	0.15%
Operating Expenses+	71.83M	78.19M	78.57M	84.26M	107.46M	109.1M	116.32M	121.17M	116.45M	113.75M
OpEx % of Revenue	2.1%	2.1%	1.8%	1.38%	1.44%	1.19%	0.89%	0.75%	0.74%	0.63%
Selling, General & Admin	45.99M	48.75M	52.41M	56.84M	66.2M	67.02M	81.29M	83.33M	75.52M	75.89M
SG&A % of Revenue	1.34%	1.31%	1.2%	0.93%	0.89%	0.73%	0.62%	0.51%	0.48%	0.42%
Research & Development	25.64M	31.32M	33.71M	42.56M	60.38M	64.41M	63.69M	64.11M	67.64M	58.91M
R&D % of Revenue	0.75%	0.84%	0.77%	0.7%	0.81%	0.7%	0.49%	0.4%	0.43%	0.33%
Other Operating Expenses	71K	-1.28M	3.86M	1.75M	-19.13M	-22.33M	-28.66M	-26.27M	-26.7M	-21.05M
Operating Income+	-61.08M	-61.45M	-57.53M	-54.99M	-66.23M	-58.33M	-48.94M	-34.08M	-30.05M	-14.22M
Operating Margin %	-1.78%	-1.65%	-1.32%	-0.9%	-0.89%	-0.63%	-0.37%	-0.21%	-0.19%	-0.08%
Operating Income Growth %	-0.38%	-0.01%	0.06%	0.04%	-0.2%	0.12%	0.16%	0.3%	0.12%	0.53%
EBITDA+	-60.87M	-59.63M	-55.72M	-53.54M	-63.82M	-53.88M	-45.79M	-31.1M	-27.45M	-12.37M
EBITDA Margin %	-1.78%	-1.6%	-1.28%	-0.88%	-0.85%	-0.59%	-0.35%	-0.19%	-0.18%	-0.07%
EBITDA Growth %	-0.38%	0.02%	0.07%	0.04%	-0.19%	0.16%	0.15%	0.32%	0.12%	0.55%
D&A (Non-Cash Add-back)	202K	1.82M	1.81M	1.45M	2.4M	4.46M	3.15M	2.98M	2.6M	1.85M
EBIT	-57.83M	-60.29M	-53.68M	-53.33M	-67.02M	-55.83M	-49.13M	-36.51M	-28.94M	-11.88M
Net Interest Income+	-1.71M	-2.44M	-3.02M	-4.01M	-6.07M	-3.75M	-4.92M	-5.83M	-8.39M	-8.88M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	1.71M	2.44M	3.02M	4.01M	6.07M	3.75M	4.92M	5.83M	8.39M	8.88M
Other Income/Expense	1.54M	-1.28M	832K	-2.35M	-4.75M	-1.24M	-5.12M	-8.26M	-7.27M	-6.53M
Pretax Income+	-59.54M	-62.73M	-56.7M	-57.34M	-70.98M	-59.57M	-54.06M	-42.34M	-37.32M	-20.76M
Pretax Margin %	-1.74%	-1.69%	-1.3%	-0.94%	-0.95%	-0.65%	-0.41%	-0.26%	-0.24%	-0.12%
Income Tax+	-3.67M	175K	3.89M	229K	263K	284K	319K	488K	325K	205K
Effective Tax Rate %	0.94%	1%	1.07%	1%	1%	1%	1.01%	1.01%	1%	1.01%
Net Income+	-55.87M	-62.91M	-60.59M	-57.56M	-71.24M	-59.86M	-54.37M	-42.78M	-37.49M	-20.92M
Net Margin %	-1.63%	-1.69%	-1.39%	-0.95%	-0.95%	-0.65%	-0.42%	-0.26%	-0.24%	-0.12%
Net Income Growth %	-0.45%	-0.13%	0.04%	0.05%	-0.24%	0.16%	0.09%	0.21%	0.12%	0.44%
Net Income (Continuing)	-55.87M	-62.91M	-60.59M	-57.56M	-71.24M	-59.86M	-54.38M	-42.83M	-37.65M	-20.96M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	998K	952K	794K	751K
EPS (Diluted)+	-0.58	-0.62	-0.56	-0.44	-0.51	-0.37	-0.32	-0.24	-0.21	-0.11
EPS Growth %	-0.16%	-0.07%	0.1%	0.21%	-0.16%	0.27%	0.14%	0.25%	0.13%	0.48%
EPS (Basic)	-0.58	-0.62	-0.56	-0.44	-0.51	-0.37	-0.32	-0.24	-0.21	-0.11
Diluted Shares Outstanding	96.91M	101.83M	108.22M	131.66M	139.83M	163.95M	171.28M	176.54M	180.27M	184.56M
Basic Shares Outstanding	96.07M	101.46M	108.19M	130.83M	139.83M	163.95M	171.28M	176.54M	180.27M	184.56M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	130.44M	94.11M	89.9M	146.9M	128.11M	183.43M	187.1M	170.14M	144.44M	152.02M
Cash & Short-Term Investments	107.88M	71.63M	60.7M	117.58M	85.72M	133.59M	129.36M	102.15M	65.85M	80.45M
Cash Only	71.02M	22.56M	13.68M	28.86M	34.99M	36.59M	48.76M	35.59M	11.65M	20.27M
Short-Term Investments	36.86M	49.07M	47.01M	88.72M	50.73M	97M	80.6M	66.57M	54.2M	60.19M
Accounts Receivable	5.79M	6.87M	12.41M	8.75M	16.88M	21.17M	25.13M	34.43M	35.5M	29.78M
Days Sales Outstanding	61.8	67.42	104.01	52.45	82.55	84.05	70.09	77.54	82.87	60.29
Inventory	10.81M	12.53M	14.46M	13.54M	19.49M	23.25M	26.79M	29M	39.87M	38.15M
Days Inventory Outstanding	168.19	225.37	234.2	156.22	212.87	206.23	154.07	141.23	207.98	172.45
Other Current Assets	4.75M	1.8M	2.33M	0	0	0	0	4.56M	3.22M	3.64M
Total Non-Current Assets+	9.03M	9.37M	8.35M	16.56M	37.43M	37.98M	50.4M	47.95M	53.31M	48.9M
Property, Plant & Equipment	3.55M	2.98M	2.12M	8.13M	29.02M	26.99M	25.18M	23.48M	19.35M	15.54M
Fixed Asset Turnover	9.64x	12.46x	20.56x	7.49x	2.57x	3.41x	5.20x	6.90x	8.08x	11.60x
Goodwill	1.32M	1.32M	1.32M	1.32M	1.32M	1.32M	1.32M	1.32M	1.32M	1.32M
Intangible Assets	940K	738K	536K	334K	132K	0	0	0	0	0
Long-Term Investments	-122K	-150K	247K	2.73M	0	0	0	0	0	0
Other Non-Current Assets	3.23M	4.33M	4.38M	6.78M	6.96M	9.68M	23.9M	23.15M	32.64M	32.04M
Total Assets+	139.47M	103.48M	98.24M	163.46M	165.53M	221.41M	237.5M	218.09M	197.75M	200.92M
Asset Turnover	0.25x	0.36x	0.44x	0.37x	0.45x	0.42x	0.55x	0.74x	0.79x	0.90x
Asset Growth %	0.71%	-0.26%	-0.05%	0.66%	0.01%	0.34%	0.07%	-0.08%	-0.09%	0.02%
Total Current Liabilities+	21.89M	26.89M	23.13M	52.68M	50.34M	59.97M	78.56M	117.06M	67.52M	63.61M
Accounts Payable	5.22M	8.59M	10.97M	18.59M	22.18M	24.21M	35.61M	33M	23.84M	21.7M
Days Payables Outstanding	81.15	154.43	177.78	214.55	242.3	214.73	204.76	160.71	124.38	98.07
Short-Term Debt	2.96M	6.93M	0	7.86M	5.02M	8.52M	14.7M	56.16M	20M	19.3M
Deferred Revenue (Current)	554K	149K	445K	498K	570K	577K	673K	589K	1000K	1000K
Other Current Liabilities	7.94M	4.12M	4.34M	14.96M	12.7M	16M	18.51M	17.58M	11.82M	11.94M
Current Ratio	5.96x	3.50x	3.89x	2.79x	2.55x	3.06x	2.38x	1.45x	2.14x	2.39x
Quick Ratio	5.46x	3.03x	3.26x	2.53x	2.16x	2.67x	2.04x	1.21x	1.55x	1.79x
Cash Conversion Cycle	148.83	138.35	160.43	-5.89	53.11	75.54	19.4	58.07	166.47	134.67
Total Non-Current Liabilities+	22.81M	18.8M	36.17M	26.26M	58.15M	57.63M	73.33M	32.47M	76.78M	80.41M
Long-Term Debt	16.85M	12.44M	29.8M	22.01M	39.41M	39.59M	54.72M	13.64M	59.8M	64.86M
Capital Lease Obligations	0	0	0	0	18.41M	16.87M	16.26M	15.33M	13.75M	11.66M
Deferred Tax Liabilities	122K	150K	-100K	0	0	0	0	0	0	0
Other Non-Current Liabilities	5.8M	6.21M	6.38M	4.25M	327K	1.17M	2.34M	3.5M	3.24M	3.89M
Total Liabilities	44.7M	45.69M	59.3M	78.94M	108.48M	117.61M	151.88M	149.53M	144.3M	144.02M
Total Debt+	19.87M	19.38M	29.8M	29.87M	64.45M	66.89M	87.59M	87.24M	96M	98.1M
Net Debt	-51.15M	-3.19M	16.11M	1.01M	29.46M	30.3M	38.83M	51.65M	84.35M	77.83M
Debt / Equity	0.21x	0.34x	0.77x	0.35x	1.13x	0.64x	1.02x	1.27x	1.80x	1.72x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-35.82x	-25.13x	-19.04x	-13.72x	-10.92x	-15.57x	-9.94x	-5.84x	-3.58x	-1.60x
Total Equity+	94.77M	57.79M	38.94M	84.52M	57.05M	103.81M	85.62M	68.56M	53.44M	56.9M
Equity Growth %	1.27%	-0.39%	-0.33%	1.17%	-0.32%	0.82%	-0.18%	-0.2%	-0.22%	0.06%
Book Value per Share	0.98	0.57	0.36	0.64	0.41	0.63	0.50	0.39	0.30	0.31
Total Shareholders' Equity	94.77M	57.79M	38.94M	84.52M	57.05M	103.81M	84.62M	67.61M	52.65M	56.15M
Common Stock	99K	103K	115K	136K	144K	168K	174K	177K	181K	186K
Retained Earnings	-597.81M	-660.72M	-721.3M	-778.87M	-850.11M	-909.97M	-964.34M	-1.01B	-1.04B	-1.07B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	7.29M	103K	-97K	-281K	114K	674K	-149K	-2.79M	-1.27M	-400K
Minority Interest	0	0	0	0	0	0	998K	952K	794K	751K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-51.13M	-53.53M	-52.23M	-31.25M	-65.5M	-41.81M	-33.92M	-25.61M	-43.17M	11.36M
Operating CF Margin %	-1.49%	-1.44%	-1.2%	-0.51%	-0.88%	-0.45%	-0.26%	-0.16%	-0.28%	0.06%
Operating CF Growth %	-0.28%	-0.05%	0.02%	0.4%	-1.1%	0.36%	0.19%	0.24%	-0.69%	1.26%
Net Income	-55.87M	-62.91M	-60.59M	-57.56M	-71.24M	-59.86M	-54.38M	-42.83M	-37.49M	-20.96M
Depreciation & Amortization	1.7M	1.82M	1.81M	1.45M	2.4M	3.11M	3.15M	2.98M	2.6M	1.85M
Stock-Based Compensation	6.73M	8.06M	9.36M	10.39M	13.31M	18.03M	23.57M	24.46M	20.27M	22.87M
Deferred Taxes	-3.82M	28K	3.71M	4K	0	0	462K	0	0	0
Other Non-Cash Items	-2.62M	417K	-2.92M	1.25M	2.33M	1.11M	2.67M	5.82M	3.49M	2.37M
Working Capital Changes	2.75M	-950K	-3.61M	13.22M	-12.3M	-4.2M	-9.4M	-16.05M	-32.03M	5.23M
Change in Receivables	-301K	-1.07M	-5.55M	3.66M	-8.07M	-4.13M	-4.21M	-9.2M	-1.1M	5.5M
Change in Inventory	3.99M	-1.78M	-2.09M	806K	-6.04M	-4.03M	-19.61M	-1.77M	-14.95M	7.03M
Change in Payables	-3.87M	3.26M	2.49M	5.68M	4.94M	1.98M	12.2M	-4.91M	-7.33M	-1.48M
Cash from Investing+	1.41M	-19.92M	421K	-43.85M	28.18M	-49.56M	12.69M	8.46M	8.62M	-8.13M
Capital Expenditures	-722K	-563K	-353K	-1.14M	-8.94M	-1.61M	-910K	-2M	-4.6M	-2.84M
CapEx % of Revenue	0.02%	0.02%	0.01%	0.02%	0.12%	0.02%	0.01%	0.01%	0.03%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-104K	-19.36M	3.47M	-42.7M	0	0	-910K	10.46M	0	0
Cash from Financing+	97.95M	24.57M	43M	92.75M	43.49M	91.78M	34.29M	4.19M	10.67M	4.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	12.77M	3.07M	2.43M	7.85M	3.21M	11.75M	10.37M	4.08M	925K	667K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-51.85M	-54.09M	-52.59M	-32.39M	-74.43M	-43.43M	-34.83M	-27.61M	-47.77M	8.52M
FCF Margin %	-1.52%	-1.45%	-1.21%	-0.53%	-1%	-0.47%	-0.27%	-0.17%	-0.31%	0.05%
FCF Growth %	-0.24%	-0.04%	0.03%	0.38%	-1.3%	0.42%	0.2%	0.21%	-0.73%	1.18%
FCF per Share	-0.54	-0.53	-0.49	-0.25	-0.53	-0.26	-0.20	-0.16	-0.26	0.05
FCF Conversion (FCF/Net Income)	0.92x	0.85x	0.86x	0.54x	0.92x	0.70x	0.62x	0.60x	1.15x	-0.54x
Interest Paid	1.09M	1.37M	2.03M	2.73M	3.08M	3.27M	4.18M	5.1M	9.21M	0
Taxes Paid	153K	157K	160K	254K	229K	265K	278K	270K	322K	356K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-81.87%	-82.47%	-125.27%	-93.25%	-100.65%	-74.42%	-57.41%	-55.49%	-61.45%	-37.92%
Return on Invested Capital (ROIC)	-126.5%	-93.84%	-78.7%	-58.67%	-57.74%	-39.66%	-28.39%	-20.9%	-17.47%	-7.83%
Gross Margin	31.44%	45.42%	48.29%	48.06%	55.23%	55.23%	51.49%	53.75%	55.25%	55.21%
Net Margin	-163.25%	-169.18%	-139.06%	-94.51%	-95.44%	-65.12%	-41.55%	-26.4%	-23.97%	-11.6%
Debt / Equity	0.21x	0.34x	0.77x	0.35x	1.13x	0.64x	1.02x	1.27x	1.80x	1.72x
Interest Coverage	-35.82x	-25.13x	-19.04x	-13.72x	-10.92x	-15.57x	-9.94x	-5.84x	-3.58x	-1.60x
FCF Conversion	0.92x	0.85x	0.86x	0.54x	0.92x	0.70x	0.62x	0.60x	1.15x	-0.54x
Revenue Growth	-6.25%	8.65%	17.17%	39.8%	22.56%	23.14%	42.36%	23.83%	-3.51%	15.29%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Product	-	-	-	-	-	-	-	-	156.37M	180.27M
Product Growth	-	-	-	-	-	-	-	-	-	15.29%
Government Contract	-	-	-	-	-	-	-	-	30.43M	21.05M
Government Contract Growth	-	-	-	-	-	-	-	-	-	-30.82%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	12.56M	20.61M	31.52M	67.5M	101.39M	93.23M	111.07M
UNITED STATES Growth	-	-	-	-	64.06%	52.91%	114.16%	50.21%	-8.05%	19.14%
Other Countries	10.39M	8.87M	15.08M	17.63M	26.69M	34.08M	42.47M	41.33M	44.65M	49.51M
Other Countries Growth	-	-14.68%	70.02%	16.94%	51.39%	27.68%	24.64%	-2.69%	8.02%	10.89%
FRANCE	7.73M	3.48M	9.69M	23.04M	20.07M	19.4M	20.89M	19.33M	18.49M	19.69M
FRANCE Growth	-	-54.93%	178.11%	137.75%	-12.88%	-3.34%	7.64%	-7.47%	-4.33%	6.50%
North America	-	-	-	-	-	-	68.97M	-	-	-
North America Growth	-	-	-	-	-	-	-	-	-	-
Europe Middle East And Africa	-	-	-	-	-	-	60.12M	-	-	-
Europe Middle East And Africa Growth	-	-	-	-	-	-	-	-	-	-
Other	-	-	-	-	-	-	1.77M	-	-	-
Other Growth	-	-	-	-	-	-	-	-	-	-
BELGIUM	5.73M	6.39M	6.26M	6.79M	7.27M	6.92M	-	-	-	-
BELGIUM Growth	-	11.59%	-2.02%	8.38%	7.13%	-4.83%	-	-	-	-
KUWAIT	-	4.42M	2.79M	883K	-	-	-	-	-	-
KUWAIT Growth	-	-	-36.85%	-68.33%	-	-	-	-	-	-
SPAIN	4.07M	3.36M	3.43M	-	-	-	-	-	-	-
SPAIN Growth	-	-17.44%	2.14%	-	-	-	-	-	-	-
SWITZERLAND	2.94M	3.32M	-	-	-	-	-	-	-	-
SWITZERLAND Growth	-	13.14%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Cerus Corporation (CERS) reported $199.2M in revenue for fiscal year 2024. This represents a 503% increase from $33.0M in 2011.

Cerus Corporation (CERS) grew revenue by 15.3% over the past year. This is strong growth.

Cerus Corporation (CERS) reported a net loss of $16.0M for fiscal year 2024.

Dividend & Returns

Cerus Corporation (CERS) has a return on equity (ROE) of -37.9%. Negative ROE indicates the company is unprofitable.

Cerus Corporation (CERS) generated $0.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Cerus Corporation (CERS) 10-Year Financial Performance & Capital Metrics

CERS • • Industrial / General

HealthcareMedical DevicesSurgical & Minimally Invasive DevicesSurgical Energy & Ablation Systems

Revenue $180M +15.3%
EBITDA -$12M +54.9%
Net Income -$21M +44.2%
EPS (Diluted) -0.11 +47.6%
Gross Margin 55.21%
EBITDA Margin -6.86% +60.9%
Operating Margin -7.89% +58.9%
Net Margin -11.6% +51.6%
ROE -37.92% +38.3%
ROIC -7.83% +55.2%
Debt/Equity 1.72 -4.0%
Interest Coverage -1.60 +55.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 90 (top 10%)
✓Strong 5Y sales CAGR of 19.3%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y17.32%

5Y19.28%

3Y11.27%

TTM13.03%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM19.07%

EPS CAGR

10Y-

5Y-

3Y-

TTM22.33%

ROCE

10Y Avg-46.42%

5Y Avg-27.11%

3Y Avg-20.95%

Latest-10.63%

Peer Comparison

Surgical Energy & Ablation Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
BDMDBaird Medical Investment Holdings Limited	47.01M	1.28	2.61	17.74%	33.62%	33%	0.53
IVFINVO Fertility, Inc.	12.13M	0.80	-0.03	116.25%	-417.01%	-495.09%	0.78
AEMDAethlon Medical, Inc.	2.5M	2.57	-0.03			-0.2%	0.13
HYPDHyperion DeFi, Inc.	27.13M	3.32	-0.06	14.14%	-73.86%	-36.05%
ALURAllurion Technologies Inc.	21.12M	1.72	-0.15	-39.94%	-251.56%
NAOVNanoVibronix, Inc.	2.52M	2.32	-0.17	12.05%	-133.04%	-8.41%	0.19
RBOTVicarious Surgical Inc.	17.9M	2.77	-0.26			-380.42%	0.30
TELATELA Bio, Inc.	47.65M	1.07	-0.80	18.56%	-50.61%	-25.05%	1.51

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	34.22M	37.18M	43.57M	60.91M	74.65M	91.92M	130.86M	162.05M	156.37M	180.27M
Revenue Growth %	-0.06%	0.09%	0.17%	0.4%	0.23%	0.23%	0.42%	0.24%	-0.04%	0.15%
Cost of Goods Sold+	23.46M	20.3M	22.53M	31.63M	33.42M	41.16M	63.48M	74.95M	69.97M	80.75M
COGS % of Revenue	0.69%	0.55%	0.52%	0.52%	0.45%	0.45%	0.49%	0.46%	0.45%	0.45%
Gross Profit+	10.76M	16.89M	21.04M	29.27M	41.23M	50.76M	67.38M	87.09M	86.4M	99.52M
Gross Margin %	0.31%	0.45%	0.48%	0.48%	0.55%	0.55%	0.51%	0.54%	0.55%	0.55%
Gross Profit Growth %	-0.3%	0.57%	0.25%	0.39%	0.41%	0.23%	0.33%	0.29%	-0.01%	0.15%
Operating Expenses+	71.83M	78.19M	78.57M	84.26M	107.46M	109.1M	116.32M	121.17M	116.45M	113.75M
OpEx % of Revenue	2.1%	2.1%	1.8%	1.38%	1.44%	1.19%	0.89%	0.75%	0.74%	0.63%
Selling, General & Admin	45.99M	48.75M	52.41M	56.84M	66.2M	67.02M	81.29M	83.33M	75.52M	75.89M
SG&A % of Revenue	1.34%	1.31%	1.2%	0.93%	0.89%	0.73%	0.62%	0.51%	0.48%	0.42%
Research & Development	25.64M	31.32M	33.71M	42.56M	60.38M	64.41M	63.69M	64.11M	67.64M	58.91M
R&D % of Revenue	0.75%	0.84%	0.77%	0.7%	0.81%	0.7%	0.49%	0.4%	0.43%	0.33%
Other Operating Expenses	71K	-1.28M	3.86M	1.75M	-19.13M	-22.33M	-28.66M	-26.27M	-26.7M	-21.05M
Operating Income+	-61.08M	-61.45M	-57.53M	-54.99M	-66.23M	-58.33M	-48.94M	-34.08M	-30.05M	-14.22M
Operating Margin %	-1.78%	-1.65%	-1.32%	-0.9%	-0.89%	-0.63%	-0.37%	-0.21%	-0.19%	-0.08%
Operating Income Growth %	-0.38%	-0.01%	0.06%	0.04%	-0.2%	0.12%	0.16%	0.3%	0.12%	0.53%
EBITDA+	-60.87M	-59.63M	-55.72M	-53.54M	-63.82M	-53.88M	-45.79M	-31.1M	-27.45M	-12.37M
EBITDA Margin %	-1.78%	-1.6%	-1.28%	-0.88%	-0.85%	-0.59%	-0.35%	-0.19%	-0.18%	-0.07%
EBITDA Growth %	-0.38%	0.02%	0.07%	0.04%	-0.19%	0.16%	0.15%	0.32%	0.12%	0.55%
D&A (Non-Cash Add-back)	202K	1.82M	1.81M	1.45M	2.4M	4.46M	3.15M	2.98M	2.6M	1.85M
EBIT	-57.83M	-60.29M	-53.68M	-53.33M	-67.02M	-55.83M	-49.13M	-36.51M	-28.94M	-11.88M
Net Interest Income+	-1.71M	-2.44M	-3.02M	-4.01M	-6.07M	-3.75M	-4.92M	-5.83M	-8.39M	-8.88M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	1.71M	2.44M	3.02M	4.01M	6.07M	3.75M	4.92M	5.83M	8.39M	8.88M
Other Income/Expense	1.54M	-1.28M	832K	-2.35M	-4.75M	-1.24M	-5.12M	-8.26M	-7.27M	-6.53M
Pretax Income+	-59.54M	-62.73M	-56.7M	-57.34M	-70.98M	-59.57M	-54.06M	-42.34M	-37.32M	-20.76M
Pretax Margin %	-1.74%	-1.69%	-1.3%	-0.94%	-0.95%	-0.65%	-0.41%	-0.26%	-0.24%	-0.12%
Income Tax+	-3.67M	175K	3.89M	229K	263K	284K	319K	488K	325K	205K
Effective Tax Rate %	0.94%	1%	1.07%	1%	1%	1%	1.01%	1.01%	1%	1.01%
Net Income+	-55.87M	-62.91M	-60.59M	-57.56M	-71.24M	-59.86M	-54.37M	-42.78M	-37.49M	-20.92M
Net Margin %	-1.63%	-1.69%	-1.39%	-0.95%	-0.95%	-0.65%	-0.42%	-0.26%	-0.24%	-0.12%
Net Income Growth %	-0.45%	-0.13%	0.04%	0.05%	-0.24%	0.16%	0.09%	0.21%	0.12%	0.44%
Net Income (Continuing)	-55.87M	-62.91M	-60.59M	-57.56M	-71.24M	-59.86M	-54.38M	-42.83M	-37.65M	-20.96M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	998K	952K	794K	751K
EPS (Diluted)+	-0.58	-0.62	-0.56	-0.44	-0.51	-0.37	-0.32	-0.24	-0.21	-0.11
EPS Growth %	-0.16%	-0.07%	0.1%	0.21%	-0.16%	0.27%	0.14%	0.25%	0.13%	0.48%
EPS (Basic)	-0.58	-0.62	-0.56	-0.44	-0.51	-0.37	-0.32	-0.24	-0.21	-0.11
Diluted Shares Outstanding	96.91M	101.83M	108.22M	131.66M	139.83M	163.95M	171.28M	176.54M	180.27M	184.56M
Basic Shares Outstanding	96.07M	101.46M	108.19M	130.83M	139.83M	163.95M	171.28M	176.54M	180.27M	184.56M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	130.44M	94.11M	89.9M	146.9M	128.11M	183.43M	187.1M	170.14M	144.44M	152.02M
Cash & Short-Term Investments	107.88M	71.63M	60.7M	117.58M	85.72M	133.59M	129.36M	102.15M	65.85M	80.45M
Cash Only	71.02M	22.56M	13.68M	28.86M	34.99M	36.59M	48.76M	35.59M	11.65M	20.27M
Short-Term Investments	36.86M	49.07M	47.01M	88.72M	50.73M	97M	80.6M	66.57M	54.2M	60.19M
Accounts Receivable	5.79M	6.87M	12.41M	8.75M	16.88M	21.17M	25.13M	34.43M	35.5M	29.78M
Days Sales Outstanding	61.8	67.42	104.01	52.45	82.55	84.05	70.09	77.54	82.87	60.29
Inventory	10.81M	12.53M	14.46M	13.54M	19.49M	23.25M	26.79M	29M	39.87M	38.15M
Days Inventory Outstanding	168.19	225.37	234.2	156.22	212.87	206.23	154.07	141.23	207.98	172.45
Other Current Assets	4.75M	1.8M	2.33M	0	0	0	0	4.56M	3.22M	3.64M
Total Non-Current Assets+	9.03M	9.37M	8.35M	16.56M	37.43M	37.98M	50.4M	47.95M	53.31M	48.9M
Property, Plant & Equipment	3.55M	2.98M	2.12M	8.13M	29.02M	26.99M	25.18M	23.48M	19.35M	15.54M
Fixed Asset Turnover	9.64x	12.46x	20.56x	7.49x	2.57x	3.41x	5.20x	6.90x	8.08x	11.60x
Goodwill	1.32M	1.32M	1.32M	1.32M	1.32M	1.32M	1.32M	1.32M	1.32M	1.32M
Intangible Assets	940K	738K	536K	334K	132K	0	0	0	0	0
Long-Term Investments	-122K	-150K	247K	2.73M	0	0	0	0	0	0
Other Non-Current Assets	3.23M	4.33M	4.38M	6.78M	6.96M	9.68M	23.9M	23.15M	32.64M	32.04M
Total Assets+	139.47M	103.48M	98.24M	163.46M	165.53M	221.41M	237.5M	218.09M	197.75M	200.92M
Asset Turnover	0.25x	0.36x	0.44x	0.37x	0.45x	0.42x	0.55x	0.74x	0.79x	0.90x
Asset Growth %	0.71%	-0.26%	-0.05%	0.66%	0.01%	0.34%	0.07%	-0.08%	-0.09%	0.02%
Total Current Liabilities+	21.89M	26.89M	23.13M	52.68M	50.34M	59.97M	78.56M	117.06M	67.52M	63.61M
Accounts Payable	5.22M	8.59M	10.97M	18.59M	22.18M	24.21M	35.61M	33M	23.84M	21.7M
Days Payables Outstanding	81.15	154.43	177.78	214.55	242.3	214.73	204.76	160.71	124.38	98.07
Short-Term Debt	2.96M	6.93M	0	7.86M	5.02M	8.52M	14.7M	56.16M	20M	19.3M
Deferred Revenue (Current)	554K	149K	445K	498K	570K	577K	673K	589K	1000K	1000K
Other Current Liabilities	7.94M	4.12M	4.34M	14.96M	12.7M	16M	18.51M	17.58M	11.82M	11.94M
Current Ratio	5.96x	3.50x	3.89x	2.79x	2.55x	3.06x	2.38x	1.45x	2.14x	2.39x
Quick Ratio	5.46x	3.03x	3.26x	2.53x	2.16x	2.67x	2.04x	1.21x	1.55x	1.79x
Cash Conversion Cycle	148.83	138.35	160.43	-5.89	53.11	75.54	19.4	58.07	166.47	134.67
Total Non-Current Liabilities+	22.81M	18.8M	36.17M	26.26M	58.15M	57.63M	73.33M	32.47M	76.78M	80.41M
Long-Term Debt	16.85M	12.44M	29.8M	22.01M	39.41M	39.59M	54.72M	13.64M	59.8M	64.86M
Capital Lease Obligations	0	0	0	0	18.41M	16.87M	16.26M	15.33M	13.75M	11.66M
Deferred Tax Liabilities	122K	150K	-100K	0	0	0	0	0	0	0
Other Non-Current Liabilities	5.8M	6.21M	6.38M	4.25M	327K	1.17M	2.34M	3.5M	3.24M	3.89M
Total Liabilities	44.7M	45.69M	59.3M	78.94M	108.48M	117.61M	151.88M	149.53M	144.3M	144.02M
Total Debt+	19.87M	19.38M	29.8M	29.87M	64.45M	66.89M	87.59M	87.24M	96M	98.1M
Net Debt	-51.15M	-3.19M	16.11M	1.01M	29.46M	30.3M	38.83M	51.65M	84.35M	77.83M
Debt / Equity	0.21x	0.34x	0.77x	0.35x	1.13x	0.64x	1.02x	1.27x	1.80x	1.72x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-35.82x	-25.13x	-19.04x	-13.72x	-10.92x	-15.57x	-9.94x	-5.84x	-3.58x	-1.60x
Total Equity+	94.77M	57.79M	38.94M	84.52M	57.05M	103.81M	85.62M	68.56M	53.44M	56.9M
Equity Growth %	1.27%	-0.39%	-0.33%	1.17%	-0.32%	0.82%	-0.18%	-0.2%	-0.22%	0.06%
Book Value per Share	0.98	0.57	0.36	0.64	0.41	0.63	0.50	0.39	0.30	0.31
Total Shareholders' Equity	94.77M	57.79M	38.94M	84.52M	57.05M	103.81M	84.62M	67.61M	52.65M	56.15M
Common Stock	99K	103K	115K	136K	144K	168K	174K	177K	181K	186K
Retained Earnings	-597.81M	-660.72M	-721.3M	-778.87M	-850.11M	-909.97M	-964.34M	-1.01B	-1.04B	-1.07B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	7.29M	103K	-97K	-281K	114K	674K	-149K	-2.79M	-1.27M	-400K
Minority Interest	0	0	0	0	0	0	998K	952K	794K	751K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-51.13M	-53.53M	-52.23M	-31.25M	-65.5M	-41.81M	-33.92M	-25.61M	-43.17M	11.36M
Operating CF Margin %	-1.49%	-1.44%	-1.2%	-0.51%	-0.88%	-0.45%	-0.26%	-0.16%	-0.28%	0.06%
Operating CF Growth %	-0.28%	-0.05%	0.02%	0.4%	-1.1%	0.36%	0.19%	0.24%	-0.69%	1.26%
Net Income	-55.87M	-62.91M	-60.59M	-57.56M	-71.24M	-59.86M	-54.38M	-42.83M	-37.49M	-20.96M
Depreciation & Amortization	1.7M	1.82M	1.81M	1.45M	2.4M	3.11M	3.15M	2.98M	2.6M	1.85M
Stock-Based Compensation	6.73M	8.06M	9.36M	10.39M	13.31M	18.03M	23.57M	24.46M	20.27M	22.87M
Deferred Taxes	-3.82M	28K	3.71M	4K	0	0	462K	0	0	0
Other Non-Cash Items	-2.62M	417K	-2.92M	1.25M	2.33M	1.11M	2.67M	5.82M	3.49M	2.37M
Working Capital Changes	2.75M	-950K	-3.61M	13.22M	-12.3M	-4.2M	-9.4M	-16.05M	-32.03M	5.23M
Change in Receivables	-301K	-1.07M	-5.55M	3.66M	-8.07M	-4.13M	-4.21M	-9.2M	-1.1M	5.5M
Change in Inventory	3.99M	-1.78M	-2.09M	806K	-6.04M	-4.03M	-19.61M	-1.77M	-14.95M	7.03M
Change in Payables	-3.87M	3.26M	2.49M	5.68M	4.94M	1.98M	12.2M	-4.91M	-7.33M	-1.48M
Cash from Investing+	1.41M	-19.92M	421K	-43.85M	28.18M	-49.56M	12.69M	8.46M	8.62M	-8.13M
Capital Expenditures	-722K	-563K	-353K	-1.14M	-8.94M	-1.61M	-910K	-2M	-4.6M	-2.84M
CapEx % of Revenue	0.02%	0.02%	0.01%	0.02%	0.12%	0.02%	0.01%	0.01%	0.03%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-104K	-19.36M	3.47M	-42.7M	0	0	-910K	10.46M	0	0
Cash from Financing+	97.95M	24.57M	43M	92.75M	43.49M	91.78M	34.29M	4.19M	10.67M	4.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	12.77M	3.07M	2.43M	7.85M	3.21M	11.75M	10.37M	4.08M	925K	667K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-51.85M	-54.09M	-52.59M	-32.39M	-74.43M	-43.43M	-34.83M	-27.61M	-47.77M	8.52M
FCF Margin %	-1.52%	-1.45%	-1.21%	-0.53%	-1%	-0.47%	-0.27%	-0.17%	-0.31%	0.05%
FCF Growth %	-0.24%	-0.04%	0.03%	0.38%	-1.3%	0.42%	0.2%	0.21%	-0.73%	1.18%
FCF per Share	-0.54	-0.53	-0.49	-0.25	-0.53	-0.26	-0.20	-0.16	-0.26	0.05
FCF Conversion (FCF/Net Income)	0.92x	0.85x	0.86x	0.54x	0.92x	0.70x	0.62x	0.60x	1.15x	-0.54x
Interest Paid	1.09M	1.37M	2.03M	2.73M	3.08M	3.27M	4.18M	5.1M	9.21M	0
Taxes Paid	153K	157K	160K	254K	229K	265K	278K	270K	322K	356K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-81.87%	-82.47%	-125.27%	-93.25%	-100.65%	-74.42%	-57.41%	-55.49%	-61.45%	-37.92%
Return on Invested Capital (ROIC)	-126.5%	-93.84%	-78.7%	-58.67%	-57.74%	-39.66%	-28.39%	-20.9%	-17.47%	-7.83%
Gross Margin	31.44%	45.42%	48.29%	48.06%	55.23%	55.23%	51.49%	53.75%	55.25%	55.21%
Net Margin	-163.25%	-169.18%	-139.06%	-94.51%	-95.44%	-65.12%	-41.55%	-26.4%	-23.97%	-11.6%
Debt / Equity	0.21x	0.34x	0.77x	0.35x	1.13x	0.64x	1.02x	1.27x	1.80x	1.72x
Interest Coverage	-35.82x	-25.13x	-19.04x	-13.72x	-10.92x	-15.57x	-9.94x	-5.84x	-3.58x	-1.60x
FCF Conversion	0.92x	0.85x	0.86x	0.54x	0.92x	0.70x	0.62x	0.60x	1.15x	-0.54x
Revenue Growth	-6.25%	8.65%	17.17%	39.8%	22.56%	23.14%	42.36%	23.83%	-3.51%	15.29%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Product	-	-	-	-	-	-	-	-	156.37M	180.27M
Product Growth	-	-	-	-	-	-	-	-	-	15.29%
Government Contract	-	-	-	-	-	-	-	-	30.43M	21.05M
Government Contract Growth	-	-	-	-	-	-	-	-	-	-30.82%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	-	-	12.56M	20.61M	31.52M	67.5M	101.39M	93.23M	111.07M
UNITED STATES Growth	-	-	-	-	64.06%	52.91%	114.16%	50.21%	-8.05%	19.14%
Other Countries	10.39M	8.87M	15.08M	17.63M	26.69M	34.08M	42.47M	41.33M	44.65M	49.51M
Other Countries Growth	-	-14.68%	70.02%	16.94%	51.39%	27.68%	24.64%	-2.69%	8.02%	10.89%
FRANCE	7.73M	3.48M	9.69M	23.04M	20.07M	19.4M	20.89M	19.33M	18.49M	19.69M
FRANCE Growth	-	-54.93%	178.11%	137.75%	-12.88%	-3.34%	7.64%	-7.47%	-4.33%	6.50%
North America	-	-	-	-	-	-	68.97M	-	-	-
North America Growth	-	-	-	-	-	-	-	-	-	-
Europe Middle East And Africa	-	-	-	-	-	-	60.12M	-	-	-
Europe Middle East And Africa Growth	-	-	-	-	-	-	-	-	-	-
Other	-	-	-	-	-	-	1.77M	-	-	-
Other Growth	-	-	-	-	-	-	-	-	-	-
BELGIUM	5.73M	6.39M	6.26M	6.79M	7.27M	6.92M	-	-	-	-
BELGIUM Growth	-	11.59%	-2.02%	8.38%	7.13%	-4.83%	-	-	-	-
KUWAIT	-	4.42M	2.79M	883K	-	-	-	-	-	-
KUWAIT Growth	-	-	-36.85%	-68.33%	-	-	-	-	-	-
SPAIN	4.07M	3.36M	3.43M	-	-	-	-	-	-	-
SPAIN Growth	-	-17.44%	2.14%	-	-	-	-	-	-	-
SWITZERLAND	2.94M	3.32M	-	-	-	-	-	-	-	-
SWITZERLAND Growth	-	13.14%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Cerus Corporation (CERS) reported $199.2M in revenue for fiscal year 2024. This represents a 503% increase from $33.0M in 2011.

Cerus Corporation (CERS) grew revenue by 15.3% over the past year. This is strong growth.

Cerus Corporation (CERS) reported a net loss of $16.0M for fiscal year 2024.

Dividend & Returns

Cerus Corporation (CERS) has a return on equity (ROE) of -37.9%. Negative ROE indicates the company is unprofitable.

Cerus Corporation (CERS) generated $0.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.