Cerus Q1 revenue down 11% to $38.5M; net loss widens to $15.6M; reiterates FY guidance

CERUS CORP

2023-Q1 EPS reported -$0.09

Product revenue $31.0M (-17% YoY) on US inventory drawdown; govt contract revenue $7.5M (+35%).
Net loss $15.6M ($0.09/shr) vs $12.3M ($0.07); adjusted EBITDA -$9.8M vs -$3.7M.
Product gross margin improved to 55.8% (51.7% YoY), fifth consecutive quarter of expansion.
Reiterated FY2023 product revenue guidance $165-170M; expects return to growth as drawdown ends.
Completed debt refinancing; ended Q1 with $94.7M cash, $55M term loan, $18M revolver drawn.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CERUS CORP reported first quarter ended March 31, 2023 results: revenue $38.5 million. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $38.5 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Cerus Corporation (Nasdaq: CERS) today announced financial results for the first quarter ended March 31, 2023. Recent highlights include: • First quarter 2023 total revenue of $38.5 million

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Source: SEC EDGAR

accession 0000950170-23-017869

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