In This Article:
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Full Year 2024 Product Revenue: $180.3 million, representing 15% growth year over year.
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Q4 2024 Product Revenue: $50.8 million, representing 9% growth year over year.
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IFC Sales Growth: 42% increase over 2023, totaling $9.2 million for the full year.
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North American Product Revenue Growth: 23% increase over 2023 levels.
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Full Year 2024 Gross Profit: $99.5 million, up from $86.4 million in 2023.
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Full Year 2024 Gross Margin: 55.2%, consistent with 2023 levels.
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Q4 2024 Gross Margin: 53.9%, down from 55.5% in Q4 2023.
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Full Year 2024 Operating Expenses: $134.8 million, down more than 8% from 2023.
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Full Year 2024 Net Loss: Improved by 44% to $20.9 million from $37.5 million in 2023.
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Full Year 2024 Adjusted EBITDA: Positive $5.7 million, a significant improvement from negative $10.7 million in 2023.
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Q4 2024 Operating Cash Flow: Positive $4.9 million.
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Full Year 2024 Operating Cash Flow: Positive $11.4 million, compared to cash used of $43.2 million in 2023.
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Cash and Equivalents: $80.5 million at the end of Q4 2024.
Release Date: February 20, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Cerus Corp (NASDAQ:CERS) achieved positive adjusted EBITDA for the full year 2024, marking a significant milestone.
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The company reported a 15% year-over-year growth in product revenues for 2024, driven by strong demand in the US and international markets.
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Cerus Corp (NASDAQ:CERS) successfully expanded its global platelet business and saw increased demand for its Intercept Fibrinogen Complex (IFC) in the US.
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The company maintained strong operating cash flows, generating positive cash flows for the fourth consecutive quarter.
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Cerus Corp (NASDAQ:CERS) is optimistic about continued growth in 2025, with expectations of 8-11% year-over-year revenue growth.
Negative Points
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The company faced challenges with foreign exchange rates, which provided a slight headwind for the EEA business.
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Gross margins for the fourth quarter of 2024 were slightly down due to factors like a stronger US dollar and higher freight costs.
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Operating expenses increased in the fourth quarter of 2024, partly due to non-cash stock-based compensation.
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Government contract revenue declined in 2024 compared to 2023, primarily due to the completion of a US Phase 3 clinical trial.
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The company anticipates that the China market will not contribute meaningfully to revenue in 2025 due to pending regulatory approvals and reimbursement processes.
Q & A Highlights
Q: Can you walk us through the steps left before full US market access for IFC is unlocked, and your optimism about capturing up to 50% of the US market opportunity with IFC? A: Vivek Jayaraman, Chief Operating Officer, explained that the increase in demand and validation from recent events have boosted momentum. With BLA approvals at production partner sites, they can now transport products across state lines, unlocking demand in previously inaccessible areas. The focus is on balancing demand and supply, with confidence in the broad market opportunity for IFC.