What is Cerus's earnings per share (EPS)?

Cerus (CERS) reported diluted earnings per share of $-0.08 for fiscal year 2025. This represents a 27.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Cerus Financials

CERS

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Cerus (CERS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 30/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Cerus has an operating margin of -3.7%, meaning the company retains $-4 of operating profit per $100 of revenue. This below-average margin results in a low score of 14/100, suggesting thin profitability after operating expenses. This is up from -7.1% the prior year.

Growth

Cerus's revenue surged 16.1% year-over-year to $233.8M, reflecting rapid business expansion. This strong growth earns a score of 60/100.

Leverage

Cerus has a moderate D/E ratio of 2.44. This balance of debt and equity financing earns a leverage score of 52/100.

Liquidity

Cerus's current ratio of 1.73 indicates adequate short-term liquidity, earning a score of 30/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While Cerus generated $4.8M in operating cash flow, capex of $3.7M consumed most of it, leaving $1.1M in free cash flow. This results in a low score of 26/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Cerus generates a -24.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -37.3% the prior year.

Piotroski F-Score Neutral

4/9

Cerus passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-0.31x

For every $1 of reported earnings, Cerus generates $-0.31 in operating cash flow ($4.8M OCF vs -$15.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-1.0x

Cerus earns $-1.0 in operating income for every $1 of interest expense (-$8.7M vs $8.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$233.8M

YoY+16.1%

5Y CAGR+15.4%

10Y CAGR+21.2%

Cerus generated $233.8M in revenue in fiscal year 2025. This represents an increase of 16.1% from the prior year.

EBITDA

-$7.3M

YoY+41.4%

Cerus's EBITDA was -$7.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 41.4% from the prior year.

Net Income

-$15.6M

YoY+25.3%

Cerus reported -$15.6M in net income in fiscal year 2025. This represents an increase of 25.3% from the prior year.

EPS (Diluted)

$-0.08

YoY+27.3%

Cerus earned $-0.08 per diluted share (EPS) in fiscal year 2025. This represents an increase of 27.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$1.1M

YoY-87.0%

Cerus generated $1.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 87.0% from the prior year.

Cash & Debt

$20.0M

YoY-1.5%

5Y CAGR-11.4%

10Y CAGR-11.9%

Cerus held $20.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

192M

YoY+3.4%

5Y CAGR+2.7%

10Y CAGR+6.8%

Cerus had 192M shares outstanding in fiscal year 2025. This represents an increase of 3.4% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

-3.7%

YoY+3.4pp

5Y CAGR+47.4pp

10Y CAGR+174.8pp

Cerus's operating margin was -3.7% in fiscal year 2025, reflecting core business profitability. This is up 3.4 percentage points from the prior year.

Net Margin

-6.7%

YoY+3.7pp

5Y CAGR+45.7pp

10Y CAGR+156.6pp

Cerus's net profit margin was -6.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.7 percentage points from the prior year.

Return on Equity

-24.3%

YoY+12.9pp

5Y CAGR+33.3pp

10Y CAGR+34.6pp

Cerus's ROE was -24.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 12.9 percentage points from the prior year.

Capital Allocation

R&D Spending

$67.7M

YoY+15.0%

5Y CAGR+1.0%

10Y CAGR+10.2%

Cerus invested $67.7M in research and development in fiscal year 2025. This represents an increase of 15.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$3.7M

YoY+31.4%

5Y CAGR+18.2%

10Y CAGR+17.8%

Cerus invested $3.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 31.4% from the prior year.

CERS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$233.8M+16.1%	$201.3M+7.8%	$186.8M-0.8%	$188.3M+18.1%	$159.5M+39.6%	$114.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	$41.2M
Gross Profit	N/A	N/A	N/A	N/A	N/A	$73.1M
R&D Expenses	$67.7M+15.0%	$58.9M-12.9%	$67.6M+5.5%	$64.1M+0.7%	$63.7M-1.1%	$64.4M
SG&A Expenses	$80.9M+6.6%	$75.9M+0.5%	$75.5M-9.4%	$83.3M+2.5%	$81.3M+21.3%	$67.0M
Operating Income	-$8.7M+39.0%	-$14.2M+52.7%	-$30.1M+11.8%	-$34.1M+30.4%	-$48.9M+16.1%	-$58.3M
Interest Expense	$8.3M-6.0%	$8.9M+5.9%	$8.4M+43.8%	$5.8M+18.4%	$4.9M+31.4%	$3.7M
Income Tax	$354K+72.7%	$205K-36.9%	$325K-33.4%	$488K+53.0%	$319K+12.3%	$284K
Net Income	-$15.6M+25.3%	-$20.9M+44.2%	-$37.5M+12.4%	-$42.8M+21.3%	-$54.4M+9.2%	-$59.9M
EPS (Diluted)	$-0.08+27.3%	$-0.11+47.6%	$-0.21+12.5%	$-0.24+25.0%	$-0.32+13.5%	$-0.37

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$15.8M-16.3%	$18.9M+13.8%	$16.6M	N/A	$14.0M-6.4%	$15.0M+3.4%	$14.5M
SG&A Expenses	N/A	$18.6M-12.1%	$21.2M+4.4%	$20.3M	N/A	$17.8M-6.3%	$19.0M-4.2%	$19.8M
Operating Income	N/A	$1.2M+136.1%	-$3.4M+41.5%	-$5.9M	N/A	-$961K+74.9%	-$3.8M+51.9%	-$8.0M
Interest Expense	N/A	$2.1M-1.4%	$2.1M+1.9%	$2.1M	N/A	$2.3M-3.0%	$2.3M+4.3%	$2.2M
Income Tax	N/A	$85K+11.8%	$76K+2.7%	$74K	N/A	$76K+235.7%	-$56K-175.7%	$74K
Net Income	N/A	-$19K+99.7%	-$5.7M+26.0%	-$7.7M	N/A	-$2.9M+49.2%	-$5.8M+40.4%	-$9.7M
EPS (Diluted)	N/A	$0.00+100.0%	$-0.03+25.0%	$-0.04	N/A	$-0.02+33.3%	$-0.03+40.0%	$-0.05

CERS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$221.9M+10.4%	$200.9M+1.6%	$197.7M-9.3%	$218.1M-8.2%	$237.5M+7.3%	$221.4M
Current Assets	$174.4M+14.7%	$152.0M+5.2%	$144.4M-15.1%	$170.1M-9.1%	$187.1M+2.0%	$183.4M
Cash & Equivalents	$20.0M-1.5%	$20.3M+74.0%	$11.6M-67.3%	$35.6M-27.0%	$48.8M+33.2%	$36.6M
Inventory	$56.1M+47.1%	$38.1M-4.3%	$39.9M+37.5%	$29.0M+8.2%	$26.8M+15.2%	$23.3M
Accounts Receivable	$30.4M+2.0%	$29.8M-16.1%	$35.5M+3.1%	$34.4M+37.0%	$25.1M+18.7%	$21.2M
Goodwill	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M
Total Liabilities	$156.9M+8.9%	$144.0M-0.2%	$144.3M-3.5%	$149.5M-1.5%	$151.9M+29.1%	$117.6M
Current Liabilities	$100.8M+58.5%	$63.6M-5.8%	$67.5M-42.3%	$117.1M+49.0%	$78.6M+31.0%	$60.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$64.2M+14.4%	$56.1M+6.6%	$52.6M-22.1%	$67.6M-20.1%	$84.6M-18.5%	$103.8M
Retained Earnings	-$1.1B-1.5%	-$1.1B-2.0%	-$1.0B-3.7%	-$1.0B-4.4%	-$964.3M-6.0%	-$910.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$221.9M+3.1%	$215.2M+1.0%	$213.1M+3.0%	$206.8M+2.9%	$200.9M+6.0%	$189.5M+2.2%	$185.5M-1.9%	$189.1M
Current Assets	$174.4M+4.3%	$167.1M-0.8%	$168.5M+4.3%	$161.5M+6.2%	$152.0M+8.1%	$140.6M+4.1%	$135.0M-2.3%	$138.2M
Cash & Equivalents	$20.0M+27.4%	$15.7M-2.0%	$16.0M-17.9%	$19.5M-3.9%	$20.3M-6.1%	$21.6M+74.0%	$12.4M-39.6%	$20.5M
Inventory	$56.1M+5.6%	$53.1M-2.5%	$54.5M+13.2%	$48.2M+26.2%	$38.1M+4.4%	$36.5M+0.7%	$36.3M-9.0%	$39.9M
Accounts Receivable	$30.4M+2.0%	$29.8M-5.2%	$31.4M+19.2%	$26.3M-11.5%	$29.8M+22.2%	$24.4M+2.6%	$23.7M+5.3%	$22.5M
Goodwill	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M0.0%	$1.3M
Total Liabilities	$156.9M+2.6%	$153.0M-2.5%	$156.9M+4.2%	$150.5M+4.5%	$144.0M+6.5%	$135.3M0.0%	$135.2M-2.7%	$139.0M
Current Liabilities	$100.8M+14.0%	$88.4M+4.8%	$84.4M+21.0%	$69.7M+9.6%	$63.6M+17.0%	$54.3M+0.9%	$53.9M-5.9%	$57.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$64.2M+4.5%	$61.5M+10.9%	$55.4M-0.1%	$55.5M-1.2%	$56.1M+5.0%	$53.5M+8.0%	$49.5M+0.3%	$49.4M
Retained Earnings	-$1.1B-0.2%	-$1.1B0.0%	-$1.1B-0.5%	-$1.1B-0.7%	-$1.1B-0.2%	-$1.1B-0.3%	-$1.1B-0.5%	-$1.1B

CERS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$4.8M-57.4%	$11.4M+126.3%	-$43.2M-68.5%	-$25.6M+24.5%	-$33.9M+18.9%	-$41.8M
Capital Expenditures	$3.7M+31.4%	$2.8M-38.3%	$4.6M+129.8%	$2.0M+119.8%	$910K-43.7%	$1.6M
Free Cash Flow	$1.1M-87.0%	$8.5M+117.8%	-$47.8M-73.0%	-$27.6M+20.7%	-$34.8M+19.8%	-$43.4M
Investing Cash Flow	-$6.2M+24.2%	-$8.1M-194.3%	$8.6M+1.9%	$8.5M-33.3%	$12.7M+125.6%	-$49.6M
Financing Cash Flow	$231K-95.3%	$5.0M-53.5%	$10.7M+154.6%	$4.2M-87.8%	$34.3M-62.6%	$91.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$6.2M+221.7%	$1.9M+178.8%	-$2.4M-189.8%	-$844K-117.1%	$4.9M+21.1%	$4.1M+915.0%	$401K-79.5%	$2.0M
Capital Expenditures	$1.3M-28.7%	$1.8M+284.3%	$477K+325.9%	$112K-88.5%	$976K+35.4%	$721K+1658.5%	$41K-96.3%	$1.1M
Free Cash Flow	$4.9M+5105.3%	$94K+103.2%	-$2.9M-205.8%	-$956K-124.2%	$4.0M+18.0%	$3.3M+830.3%	$360K-58.1%	$860K
Investing Cash Flow	-$1.4M+45.1%	-$2.5M-130.4%	-$1.1M+8.4%	-$1.2M+83.7%	-$7.3M-251.3%	$4.8M+167.8%	-$7.1M-591.5%	$1.4M
Financing Cash Flow	-$1.0M-422.2%	$320K+348.1%	-$129K-112.0%	$1.1M+43.6%	$746K+1143.3%	$60K+104.3%	-$1.4M-125.2%	$5.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CERS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	64.0%
Operating Margin	-3.7%+3.4pp	-7.1%+9.0pp	-16.1%+2.0pp	-18.1%+12.6pp	-30.7%+20.4pp	-51.1%
Net Margin	-6.7%+3.7pp	-10.4%+9.7pp	-20.1%+2.7pp	-22.7%+11.4pp	-34.1%+18.3pp	-52.4%
Return on Equity	-24.3%+12.9pp	-37.3%+33.9pp	-71.2%-7.9pp	-63.3%+1.0pp	-64.3%-6.6pp	-57.7%
Return on Assets	-7.0%+3.4pp	-10.4%+8.5pp	-19.0%+0.7pp	-19.6%+3.3pp	-22.9%+4.1pp	-27.0%
Current Ratio	1.73-0.7	2.39+0.3	2.14+0.7	1.45-0.9	2.38-0.7	3.06
Debt-to-Equity	2.44-0.1	2.57-0.2	2.74+0.5	2.21+0.4	1.79+0.7	1.13
FCF Margin	0.5%-3.8pp	4.2%+29.8pp	-25.6%-10.9pp	-14.7%+7.2pp	-21.8%+16.2pp	-38.0%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	-0.0%+10.3pp	-10.3%+3.6pp	-13.9%	N/A	-5.5%+6.2pp	-11.7%+8.0pp	-19.6%
Return on Assets	N/A	-0.0%+2.7pp	-2.7%+1.0pp	-3.7%	N/A	-1.6%+1.6pp	-3.1%+2.0pp	-5.1%
Current Ratio	1.73-0.2	1.89-0.1	2.00-0.3	2.32-0.1	2.39-0.2	2.59+0.1	2.51+0.1	2.41
Debt-to-Equity	2.44-0.0	2.49-0.3	2.83+0.1	2.71+0.1	2.57+0.0	2.53-0.2	2.73-0.1	2.81
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Cerus's annual revenue?

Cerus (CERS) reported $233.8M in total revenue for fiscal year 2025. This represents a 16.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Cerus's revenue growing?

Cerus (CERS) revenue grew by 16.1% year-over-year, from $201.3M to $233.8M in fiscal year 2025.

Is Cerus profitable?

No, Cerus (CERS) reported a net income of -$15.6M in fiscal year 2025, with a net profit margin of -6.7%.

What is Cerus's EBITDA?

Cerus (CERS) had EBITDA of -$7.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Cerus's operating margin?

Cerus (CERS) had an operating margin of -3.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Cerus's net profit margin?

Cerus (CERS) had a net profit margin of -6.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Cerus's return on equity (ROE)?

Cerus (CERS) has a return on equity of -24.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Cerus's free cash flow?

Cerus (CERS) generated $1.1M in free cash flow during fiscal year 2025. This represents a -87.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Cerus's operating cash flow?

Cerus (CERS) generated $4.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Cerus's total assets?

Cerus (CERS) had $221.9M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Cerus's capital expenditures?

Cerus (CERS) invested $3.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Cerus spend on research and development?

Cerus (CERS) invested $67.7M in research and development during fiscal year 2025.

How many shares does Cerus have outstanding?

Cerus (CERS) had 192M shares outstanding as of fiscal year 2025.

What is Cerus's current ratio?

Cerus (CERS) had a current ratio of 1.73 as of fiscal year 2025, which is generally considered healthy.

What is Cerus's debt-to-equity ratio?

Cerus (CERS) had a debt-to-equity ratio of 2.44 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cerus's return on assets (ROA)?

Cerus (CERS) had a return on assets of -7.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Cerus's Piotroski F-Score?

Cerus (CERS) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Cerus's earnings high quality?

Cerus (CERS) has an earnings quality ratio of -0.31x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Cerus cover its interest payments?

Cerus (CERS) has an interest coverage ratio of -1.0x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Cerus?

Cerus (CERS) scores 30 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.