Cerus(US:CERS)2025-11-06 21:03Revenue Growth - Total revenue for Q3 2025 increased by 19% to $60.2 million, with product revenue reaching a record $52.7 million, up 15% year-over-year[1][3][4] - Government contract revenue for Q3 2025 was $7.5 million, a 63% increase from $4.6 million in the prior year, driven by R&D activities related to the INTERCEPT RBC program[5][3] - Hospital demand for INTERCEPT fibrinogen complex (IFC) in the U.S. rose significantly, with Q3 sales totaling $3.9 million, up from $2.3 million in the prior year, reflecting a 110% increase in volumes[3][4] - The company raised its full-year 2025 product revenue guidance to a range of $202 million to $204 million, indicating a growth of 12% to 13% from 2024[1][15] - Product revenue for Q3 2025 reached $52.698 million, a 15% increase from $46.017 million in Q3 2024[30] Profitability and Expenses - Non-GAAP adjusted EBITDA for Q3 2025 was $5.0 million, compared to $4.4 million in the same period last year, with a positive adjusted EBITDA expected for the full year[11][12] - Product gross profit for Q3 2025 was $28.1 million, a 7% increase year-over-year, while product gross margin decreased to 53.4% from 56.9% due to inflationary pressures and higher production costs[6][3] - Total operating expenses for Q3 2025 were $34.4 million, reflecting an 8% increase from $31.8 million in the prior year[7][3] - Selling, general and administrative expenses for Q3 2025 totaled $18.618 million, compared to $17.786 million in Q3 2024, reflecting a 5% increase[30] Research and Development - R&D expenses for Q3 2025 increased to $15.8 million, driven by higher government contract costs and enrollment in the Phase 3 RedeS trial[8][3] - The company completed enrollment in the U.S. RedeS trial, with results expected in the second half of 2026, further supporting its product development efforts[3][4] - Research and development expenses for Q3 2025 were $15.825 million, up from $14.013 million in Q3 2024, indicating a 13% increase[30] Financial Position - Cash, cash equivalents, and short-term investments stood at $78.5 million as of September 30, 2025, with $1.9 million generated from operations during the quarter[13][14] - Total current assets as of September 30, 2025, were $167.127 million, up from $152.022 million at the end of 2024, indicating a 10% increase[32] - Total liabilities as of September 30, 2025, were $152.981 million, compared to $144.021 million at the end of 2024, reflecting a 6% increase[32] Net Loss - Net loss attributable to Cerus Corporation for Q3 2025 was $19 thousand, a significant improvement from a net loss of $2.934 million in Q3 2024[30]