Q4 2025 Cerus Corp Earnings Call Transcript
Key Points
- Cerus Corp (CERS) reported record total revenues of $233.8 million for 2025, up 16% from 2024.
- The company achieved a 14% increase in product revenue for both the quarter and the year, exceeding prior guidance.
- Cerus Corp (CERS) has a strong market position in the US with INTERCEPT-treated platelets being the standard of care and an estimated market share in the mid-60s.
- The company signed a group purchasing agreement with Blood Centers of America, which is expected to drive increased INTERCEPT adoption.
- Cerus Corp (CERS) reported its second consecutive year of positive adjusted EBITDA, totaling $9.5 million for 2025.
- Product gross margin decreased to 51.5% in Q4 2025 from 53.9% in the same period last year due to higher production costs and import tariffs.
- The company faces ongoing inflationary pressures and a dynamic tariff landscape, which could impact future margins.
- Operating expenses increased by 7% in Q4 and 10% for the full year, driven by development costs and regulatory submissions.
- The 2016 BARDA contract will expire in September 2026, potentially reducing government reimbursed R&D expenses and corresponding revenue.
- Cerus Corp (CERS) reported a GAAP net loss of $15.6 million for the full year 2025, although this was a 25% improvement from the prior year.
Good day, ladies and gentlemen. Thank you for standing by, and welcome to the Cerus Corporation fourth-quarter and full-year 2025 earnings conference call. Please be advised that today's conference is being recorded. I would now like to hand the conference over to Tim Lee, Cerus Head of Investor Relations. Tim, 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 from the Investor Relations website at ir.cerus.com. With me on the call are Obi Greenman, Cerus' President and Chief Executive Officer; Vivek Jayaraman, Cerus' Chief Operating Officer; and Kevin Green, Cerus' Chief Financial Officer.
Cerus issued a press release today announcing our financial results for the fourth quarter and full year ended December 31, 2025, the company's recent business highlights and outlook. You can access a copy of the announcement on the company website at
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