Q4 2024 Cerus Corp Earnings Call Transcript
Key Points
- Cerus Corp (CERS) achieved positive adjusted EBITDA for the full year 2024, marking a significant milestone.
- The company reported a 15% year-over-year growth in product revenues for 2024, driven by strong demand in the US and international markets.
- Cerus Corp (CERS) successfully expanded its global platelet business and saw increased demand for its Intercept Fibrinogen Complex (IFC) in the US.
- The company maintained strong operating cash flows, generating positive cash flows for the fourth consecutive quarter.
- Cerus Corp (CERS) is optimistic about continued growth in 2025, with expectations of 8-11% year-over-year revenue growth.
- The company faced challenges with foreign exchange rates, which provided a slight headwind for the EEA business.
- Gross margins for the fourth quarter of 2024 were slightly down due to factors like a stronger US dollar and higher freight costs.
- Operating expenses increased in the fourth quarter of 2024, partly due to non-cash stock-based compensation.
- Government contract revenue declined in 2024 compared to 2023, primarily due to the completion of a US Phase 3 clinical trial.
- The company anticipates that the China market will not contribute meaningfully to revenue in 2025 due to pending regulatory approvals and reimbursement processes.
Good day, ladies and gentlemen.
Thank you for standing by and welcome to Sears Corporation, 4th quarter and full year 2024 earnings conference call.
At this time, all participants are in a listen-only mode.
After the speaker's presentation, there will be a question and answer session.
To ask a question during the session, you'll need to press 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press 11 again.
Please be advised that today's conference is being recorded.
I would now like to hand the conference over to [Nupur Liffic], Cerus Investor Relations Advisor. Ms. Liffic, you may begin.
Thank you and good afternoon. I'd like to thank everyone for joining us today. As part of today's webcast, we are simultaneously displaying slides that you can follow. You can access the slides on the investor relations website at IR.eris.com.
With me on the call are OB Greenman,
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