Cerus 2025 Q2 Earnings Beats Revenue Expectations but Maintains Loss

Cerus (CERS) reported its fiscal 2025 Q2 earnings on Aug 05th, 2025, delivering a strong revenue performance that exceeded expectations. The company raised its 2025 full-year product revenue guidance, reflecting confidence in continued growth and improved financial execution.

Revenue
Cerus recorded total revenue of $60.13 million in 2025 Q2, a 19.0% increase compared to $50.52 million in 2024 Q2. Product revenue accounted for the bulk of this growth, reaching $52.45 million, up from $45.10 million, driven by robust demand for IFC and global platelet sales. Government contract revenue also surged by 41.0% year-over-year to $7.68 million, reflecting increased research and development funding for the INTERCEPT RBC program and lyophilized IFC development.

Earnings/Net Income
Cerus maintained stable EPS at $-0.03 in 2025 Q2 compared to 2024 Q2. The company successfully narrowed its net loss to $-5.71 million in 2025 Q2, representing a 1.0% reduction from the $-5.78 million loss in 2024 Q2. Despite these improvements, the company is still operating at a loss.

Price Action
Following the earnings release, the stock price of Cerus experienced a downturn. The stock dropped 3.03% during the latest trading day, 3.76% over the most recent full trading week, and 16.88% month-to-date, reflecting mixed investor sentiment.

Post-Earnings Price Action Review
A strategy of buying Cerus shares after the earnings report and holding for 30 days underperformed significantly. The strategy yielded a -66.87% return, far below the benchmark return of 0.00%. With an excess return of -66.87% and a CAGR of -31.70% over three years, the strategy demonstrated substantial losses, highlighting the stock's volatility post-earnings.

CEO Commentary
William M. Greenman, CEO, highlighted the company's strong commercial and product development execution, noting Q2 as a record quarter with near-doubling of IFC revenue and robust growth in platelet sales. He emphasized INTERCEPT’s increasing adoption in the U.S., driven by its impact on hospital operations and logistics, and expressed confidence in the company’s ability to exceed 2025 revenue guidance. Greenman also underscored the launch of the INT200 Illuminator and regulatory progress in the red blood cell program as key drivers for the company’s future growth.

Guidance
Cerus raised full year 2025 product revenue guidance to $200 million to $203 million from $194 million to $200 million, driven by increased IFC and platelet demand. IFC sales are now expected to reach $16 million to $18 million. Kevin Green, CFO, noted sequential growth in the back half of 2025, with Q3 seeing some tempering due to summer holidays and deferred revenue in Q2, followed by a strong Q4. The company expects continued positive non-GAAP adjusted EBITDA and aims for full-year positive EBITDA, supported by stable operating expenses and expanding gross profit.

Additional News
Cerus reported second-quarter total revenue of $60.1 million, with product revenue hitting a record $52.4 million, up 16% year-over-year. The company also raised its full-year 2025 product revenue guidance range to $200 million to $203 million. The European regulatory review of the CE Mark application for the INTERCEPT Blood System for Red Blood Cells (RBCs) is ongoing, with TÜV-SÜD transferring the dossier to the State Institute for Drug Control (SÚKL) in the Czech Republic for consultation. Additionally, Cerus received an additional $7.2 million in funding from the U.S. Department of Defense for the development of lyophilized IFC.