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Cerus (CERS) reported preliminary full-year 2024 product revenue of $180.3 million, exceeding their guidance of $177-$179 million and marking a 15% increase over 2023. The growth was driven by strong performance in their INTERCEPT platelet franchise and IFC business, which grew 42% to reach $9.2 million in revenue.
For 2025, Cerus projects product revenue between $194-$200 million, representing 8-11% year-over-year growth. IFC revenue is expected to range from $12-$15 million. The company anticipates Q1 2025 product revenue growth of 10-15% compared to Q1 2024. Future initiatives include the planned LED Illuminator launch in Europe and geographic expansion efforts.
Cerus (CERS) ha riportato un fatturato preliminare per l'intero anno 2024 di $180,3 milioni, superando la loro previsione di $177-$179 milioni e segnando un aumento del 15% rispetto al 2023. La crescita è stata guidata da una forte performance nel loro franchise di piastrine INTERCEPT e nel business IFC, che è cresciuto del 42% raggiungendo $9,2 milioni di fatturato.
Per il 2025, Cerus prevede un fatturato da prodotti compreso tra $194-$200 milioni, che rappresenta una crescita annua dell'8-11%. Si prevede che il fatturato IFC si attesti tra $12-$15 milioni. L'azienda anticipa una crescita del fatturato da prodotti del 10-15% nel primo trimestre del 2025 rispetto al primo trimestre del 2024. Le iniziative future includono il lancio pianificato dell'illuminatore a LED in Europa e sforzi di espansione geografica.
Cerus (CERS) informó sobre unos ingresos preliminares por productos para todo el año 2024 de $180.3 millones, superando su guía de $177-$179 millones y marcando un aumento del 15% en comparación con 2023. Este crecimiento fue impulsado por un sólido desempeño en su franquicia de plaquetas INTERCEPT y en el negocio de IFC, que creció un 42% alcanzando $9.2 millones en ingresos.
Para 2025, Cerus proyecta que los ingresos por productos se sitúen entre $194-$200 millones, lo que representa un crecimiento interanual del 8-11%. Se espera que los ingresos de IFC oscilen entre $12-$15 millones. La compañía anticipa un crecimiento en ingresos por productos del 10-15% en el primer trimestre de 2025 en comparación con el primer trimestre de 2024. Las iniciativas futuras incluyen el lanzamiento planificado del iluminador LED en Europa y esfuerzos de expansión geográfica.
Cerus (CERS)는 2024년 전체 연도의 제품 수익이 $180.3 백만에 이를 것으로 예상하며, 이는 $177-$179 백만의 가이던스를 초과하고 2023년 대비 15% 증가한 수치입니다. 이 성장은 INTERCEPT 혈소판 프랜차이즈와 IFC 비즈니스의 강한 실적에 의해 주도되었으며, 이 사업은 42% 성장하여 $9.2 백만의 수익을 달성했습니다.
2025년을 위해 Cerus는 제품 수익이 $194-$200 백만 사이에 있을 것으로 예상하며, 이는 전년 대비 8-11%의 성장률을 나타냅니다. IFC 수익은 $12-$15 백만 사이에서 이루어질 것으로 보입니다. 이 회사는 2024년 1분기 대비 10-15%의 제품 수익 성장을 2025년 1분기에 예상하고 있습니다. 향후 이니셔티브로는 유럽에서의 LED 조명기 출시와 지리적 확장 노력이 포함됩니다.
Cerus (CERS) a rapporté des revenus produits préliminaires pour l'année 2024 s'élevant à 180,3 millions de dollars, dépassant leurs estimations de 177 à 179 millions de dollars et marquant une augmentation de 15 % par rapport à 2023. Cette croissance a été alimentée par de solides performances dans leur franchise de plaquettes INTERCEPT et leur activité IFC, qui a augmenté de 42 % pour atteindre 9,2 millions de dollars de revenus.
Pour 2025, Cerus projette des revenus produits compris entre 194 et 200 millions de dollars, représentant une croissance de 8 à 11 % d'une année sur l'autre. Les revenus de l'IFC devraient se situer entre 12 et 15 millions de dollars. La société anticipe une croissance des revenus produits de 10 à 15 % au premier trimestre de 2025 par rapport au premier trimestre de 2024. Les initiatives futures comprennent le lancement prévu de l'illuminateur LED en Europe et des efforts d'expansion géographique.
Cerus (CERS) berichtete von vorläufigen Produktumsätzen für das gesamte Jahr 2024 in Höhe von $180,3 Millionen, was über ihren Prognosen von $177-$179 Millionen liegt und einen Anstieg von 15% im Vergleich zu 2023 markiert. Dieses Wachstum wurde durch die starke Leistung ihrer INTERCEPT-Thrombozytenfranchise und des IFC-Geschäfts vorangetrieben, das um 42% wuchs und $9,2 Millionen Umsatz erreichte.
Für 2025 prognostiziert Cerus Produktumsätze zwischen $194-$200 Millionen, was einem jährlichen Wachstum von 8-11% entspricht. Die IFC-Umsätze werden voraussichtlich zwischen $12-$15 Millionen liegen. Das Unternehmen erwartet im ersten Quartal 2025 ein Umsatzwachstum von 10-15% im Vergleich zum ersten Quartal 2024. Zu den zukünftigen Initiativen gehören der geplante Launch des LED Illuminators in Europa und geografische Expansion.
Positive
Full-year 2024 revenue exceeded guidance at $180.3M, up 15% YoY
IFC revenue grew 42% to $9.2M in 2024
Strong growth in INTERCEPT platelet franchise both domestically and internationally
Projected 2025 revenue growth of 8-11% to $194-$200M
Negative
Growth rate expected to slow in 2025 (8-11%) compared to 2024 (15%)
Insights
The preliminary Q4 and FY2024 results demonstrate robust growth and market execution. Product revenue of $180.3M exceeded guidance of $177-179M, showing 15% YoY growth. Particularly noteworthy is the IFC (Intercept Fibrinogen Complex) segment's 42% growth, reaching $9.2M in revenue. This acceleration in IFC adoption suggests growing market acceptance and potential for this higher-margin product line.
The 2025 guidance of $194-200M implies continued but moderating growth of 8-11%. The projected IFC revenue range of $12-15M suggests management's confidence in maintaining strong momentum in this strategic growth driver. The Q1 2025 growth projection of 10-15% indicates healthy near-term momentum despite a higher base effect.
For a company with a market cap of $293M, trading at approximately 1.6x forward sales, the valuation appears conservative given the consistent double-digit growth and expanding margins from the IFC mix shift. The planned LED Illuminator launch in Europe could provide additional growth catalysts beyond the core business expansion.
The blood safety market dynamics are clearly favoring Cerus's INTERCEPT platform. The 14% growth in the core platelets and plasma business to $171.1M reflects strong market penetration and sustainable demand. The sequential quarterly performance shows steady execution, with Q4 revenue of $50.8M representing 9% growth.
The geographic expansion strategy, particularly in Europe with the upcoming LED Illuminator launch, positions Cerus to capture additional market share. The IFC business's accelerating growth trajectory suggests successful market development and potential for further expansion. The expected IFC growth from $9.2M to $12-15M in 2025 indicates strong product-market fit and growing clinical adoption.
The company's ability to exceed guidance while maintaining strong growth projections demonstrates effective commercial execution and market leadership in blood safety technology. The diversification into IFC provides a compelling growth vector beyond the core business.
Preliminary Full-Year 2024 Product Revenues Total $180.3 million, 15% Over 2023 Results and Exceed Prior Product Revenue Guidance
2025 Product Revenues Expected to be Between $194-$200 million, Reflecting 8%-11% Growth Year-Over-Year
CONCORD, Calif.--(BUSINESS WIRE)--
Cerus Corporation (Nasdaq: CERS) today announced preliminary product revenue for the fourth quarter and full-year 2024 and provided product revenue guidance for full-year 2025.
The Company expects its preliminary full-year 2024 product revenue to be $180.3 million, exceeding the Company’s 2024 product revenue guidance range of $177-$179 million. Included in the full-year preliminary 2024 product revenue results were $9.2 million of IFC revenue, representing growth of 42% over 2023 results. These preliminary product revenue results have not been audited and are therefore subject to change.
“We are pleased with our strong performance, which contributed to continued double-digit product revenue growth for the full year 2024, driven by sustained momentum across our INTERCEPT platelet franchise both in the U.S. and internationally and importantly, from our IFC business, which continues to gain momentum,” said William “Obi” Greenman, president and chief executive officer of Cerus. “As we look ahead to 2025, we are excited to build on this success through disciplined execution, continued growth in the platelet and IFC franchises, and the advancement of our pipeline, including the planned upcoming LED Illuminator launch in Europe, as well as anticipated further geographic expansion.”
The Company expects full-year 2025 product revenue will be in the range of $194-$200 million, of which IFC is expected to be in the range of $12-$15 million. Year-over-year product revenue growth for the first quarter of 2025 is expected to be approximately 10% to 15% over the first quarter of 2024.
“With our strong preliminary top-line results, we continue to strengthen our financial position to support future growth initiatives,” Greenman added.
Cerus will provide complete fourth quarter and full-year 2024 financial results and host a call to discuss both 2024 results and 2025 expectations later this quarter.
A comparative breakdown of the preliminary fourth quarter and full year 2024 product revenues compared to 2023 product revenues are as follows:
CERUS CORPORATION
PRODUCT REVENUE
(in thousands, except percentages)
Three Months Ended
Twelve Months Ended
December 31,
Change
December 31,
Change
2024*
2023
$
%
2024*
2023
$
%
Platelets, Plasma, Other
$
47,828
$
44,456
$
3,372
8
%
$
171,104
149,913
$
21,191
14
%
IFC
2,981
2,312
669
29
%
9,166
6,454
2,712
42
%
Total product revenue
$
50,809
$
46,768
$
4,041
9
%
$
180,270
$
156,367
$
23,903
15
%
*Unaudited preliminary results only
ABOUT CERUS
Cerus Corporation is dedicated solely to safeguarding the world’s blood supply and aims to become the preeminent global blood products company. Headquartered in Concord, California, the company develops and supplies vital technologies and pathogen-protected blood components to blood centers, hospitals, and ultimately patients who rely on safe blood. The INTERCEPT Blood System for platelets and plasma is available globally and remains the only pathogen reduction system with both CE mark and FDA approval for these two blood components. The INTERCEPT red blood cell system is under regulatory review in Europe, and in late-stage clinical development in the US. Also in the US, the INTERCEPT Blood System for Cryoprecipitation is approved for the production of Pathogen Reduced Cryoprecipitated Fibrinogen Complex (commonly referred to as INTERCEPT Fibrinogen Complex), a therapeutic product for the treatment and control of bleeding, including massive hemorrhage, associated with fibrinogen deficiency. For more information about Cerus, visit www.cerus.com and follow us on LinkedIn.
INTERCEPT and the INTERCEPT Blood System are trademarks of Cerus Corporation.
Forward Looking Statements and Preliminary Product Revenue Results
Except for the historical statements contained herein, this press release contains forward-looking statements concerning Cerus’ products, prospects and expected results, including statements relating to: Cerus’ preliminary fourth quarter and full-year 2024 product revenues; Cerus’ 2025 annual product revenue guidance; Cerus’ expectations for year-over-year product revenue growth for the first quarter of 2025; Cerus’ expectations for continued growth in its platelet and IFC franchises, and the advancement of its pipeline, including the planned upcoming LED Illuminator launch in Europe as well as anticipated further geographic expansion; and other statements that are not historical fact. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation: risks associated with the commercialization and market acceptance of, and customer demand for, the INTERCEPT Blood System, including the risks that Cerus may not (a) meet its 2025 annual product revenue guidance or its expectations for year-over-year growth for the first quarter of 2025, (b) effectively continue to launch and commercialize the INTERCEPT Blood System for Cryoprecipitation, (c) grow sales globally, including in its U.S. and European markets, and/or realize expected revenue contribution resulting from its U.S. and European market agreements, (d) realize meaningful and/or increasing revenue contributions from U.S. customers in the near term or at all, particularly since Cerus cannot guarantee the volume or timing of commercial purchases, if any, that its U.S. customers may make under Cerus’ commercial agreements with these customers, (e) effectively expand its commercialization activities into additional geographies and/or (f) realize any revenue contribution from new product offerings, including extended shelf life platelet processing sets, or its pipeline product candidates, whether due to Cerus’ inability to obtain regulatory approval of its pipeline programs, or otherwise; risks associated with macroeconomic developments, including ongoing military conflicts in Ukraine and Israel and resulting global economic and financial disruptions, and the current and potential future negative impacts to Cerus’ business operations and financial results; risks associated with Cerus’ lack of longer-term commercialization experience with the INTERCEPT Blood System for Cryoprecipitation and in the United States generally, and its ability to maintain an effective and qualified U.S.-based commercial organization, as well as the resulting uncertainty of its ability to achieve market acceptance of and otherwise successfully commercialize the INTERCEPT Blood System in the United States, including as a result of licensure requirements that must be satisfied by U.S. customers prior to their engaging in interstate transport of blood components processed using the INTERCEPT Blood System; risks related to the highly concentrated market for the INTERCEPT Blood System; risks related to how any future platelet additive solution (PAS) supply disruption could affect INTERCEPT’s acceptance in the marketplace; risks related to how any future PAS supply disruption might affect current commercial contracts; risks related to Cerus’ ability to demonstrate to the transfusion medicine community and other health care constituencies that pathogen reduction, including IFC for the treatment and control of bleeding, and the INTERCEPT Blood System is safe, effective and economical; risks related to the uncertain and time-consuming development and regulatory process, including the risks that (a) Cerus may be unable to comply with the FDA’s post-approval requirements for the INTERCEPT Blood System, including by successfully completing required post-approval studies, which could result in a loss of U.S. marketing approval(s) for the INTERCEPT Blood System, (b) any changes to the INTERCEPT platelet processing sets may require additional aging and stability data in order to satisfy regulators and maintain historical label claims; (c) additional manufacturing site Biologics License Applications necessary for Cerus to more broadly distribute the INTERCEPT Blood System for Cryoprecipitation may not be obtained in a timely manner or at all, and (d) Cerus may be unable to obtain the requisite regulatory approvals to advance its pipeline programs, including its new LED illuminator in Europe, and bring them to market in a timely manner or at all; risks related to product safety, including the risk that the septic platelet transfusions may not be avoidable with the INTERCEPT Blood System; risks related to adverse market and economic conditions, including continued or more severe adverse fluctuations in foreign exchange rates and/or continued or more severe weakening in economic conditions resulting from military conflicts, rising interest rates, inflation or otherwise in the markets where Cerus currently sells and is anticipated to sell its products; Cerus’ reliance on third parties to market, sell, distribute and maintain its products; Cerus’ ability to maintain an effective, secure manufacturing supply chain, including the risks that (a) Cerus’ supply chain could be negatively impacted as a result of the evolving impact of macroeconomic developments, including the ongoing military conflicts in Ukraine and Israel, rising interest rates and inflation, (b) Cerus’ manufacturers could be unable to comply with extensive FDA and foreign regulatory agency requirements, and (c) Cerus may be unable to maintain its primary kit manufacturing agreement and its other supply agreements with its third party suppliers; Cerus’ ability to identify and obtain additional partners to manufacture the INTERCEPT Blood System for Cryoprecipitation; risks associated with Cerus’ ability to access additional funds under its credit facility and to meet its debt service obligations, and its need for additional funding; the impact of legislative or regulatory healthcare reforms that may make it more difficult and costly for Cerus to produce, market and distribute its products; risks related to future opportunities and plans, including the uncertainty of Cerus’ future capital requirements and its future revenues and other financial performance and results, including as it relates to Cerus’ 2025 annual product revenue guidance as well as its expectations for year-over-year product revenue growth for the first quarter of 2025; as well as other risks detailed in Cerus’ filings with the Securities and Exchange Commission, including under the heading “Risk Factors” in Cerus’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on October 30, 2024. Cerus disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release.
This press release includes Cerus’ preliminary product revenue results for the quarter and year ended December 31, 2024. Cerus is currently in the process of finalizing its full financial results for the quarter and year ended December 31, 2024, and the preliminary product revenue results presented in this press release are based only upon preliminary information available to Cerus as of January 13, 2025. Cerus’ preliminary product revenue results should not be viewed as a substitute for full audited financial statements prepared in accordance with U.S. GAAP, and undue reliance should not be placed on Cerus’ preliminary product revenue results. In addition, Cerus’ independent registered public accounting firm has not audited or reviewed the preliminary product revenue results included in this press release or expressed any opinion or other form of assurance on such preliminary product revenue results. In addition, items or events may be identified or occur after the date hereof due to the completion of operational and financial closing procedures, final audit adjustments and other developments may arise that would require Cerus to make material adjustments to the preliminary product revenue results included in this press release. Therefore, the preliminary product revenue results included in this press release may differ, perhaps materially, from the product revenue results that will be reflected in Cerus’ audited consolidated financial statements for the year ended December 31, 2024.
