Cerus Corporation Reports 13% Revenue Growth to $48.9 Million in Q1 2025

Cerus Corporation reported its financial results for the first quarter of 2025, revealing a total revenue of $48.9 million, a 13% increase from $43.4 million in the same period last year. This growth was primarily driven by a 13% rise in product revenue, which reached $43.2 million, up from $38.4 million in the prior year. The increase in product sales was attributed to higher sales volumes of disposable platelet kits to U.S. customers. Additionally, government contract revenue rose to $5.6 million, compared to $5.0 million in the previous year, largely due to increased funding from the Biomedical Advanced Research and Development Authority (BARDA).

The company's gross profit on product revenue improved to $25.4 million, resulting in a gross margin of 59%, up from 55% in the prior year. This increase in gross margin was influenced by a favorable product mix and higher sales of U.S. kits. However, total operating expenses also increased to $36.9 million from $34.3 million, driven by higher research and development costs associated with the new LED-based illuminator and increased compensation expenses. Consequently, Cerus reported a net loss of $7.7 million for the quarter, a decrease from a net loss of $9.7 million in the same quarter of 2024.

In terms of operational developments, Cerus has been focusing on expanding its market presence and product adoption. The company continues to work on the INTERCEPT Blood System, which has received regulatory approvals in various regions, including the U.S. and Europe. The company is also actively pursuing the development of its red blood cell system, which is currently in clinical trials. As of March 31, 2025, Cerus had cash and cash equivalents of $19.5 million, along with short-term investments totaling $61.4 million, indicating a stable liquidity position.

Looking ahead, Cerus anticipates continued growth in product revenue, particularly from its platelet business, as market acceptance of the INTERCEPT Blood System increases. The company expects government contract revenue to rise as activities supporting its contracts ramp up. However, Cerus also faces challenges, including potential inflationary pressures, supply chain disruptions, and the need for additional funding to support ongoing development activities. The company remains committed to achieving profitability in the future, although it acknowledges the uncertainties and risks associated with its business operations and market conditions.