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Cerus Corp (CERS) stock

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NASDAQ: CERS Nasdaq Health Care Equipment Next results ~January 21, 2027

C+ Fundamentals grade

Cerus Corp is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$1.2

Price-to-sales vs peers

Base case. Range ~$1.2–$6.2. Sales per share times peers' typical price-to-sales; used only when earnings are negative.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Cerus Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 25 sales by directors and officers, last 12 monthsInsider trades
  • Funds105 adding, 69 cuttingOf 38 active managers that changed their stake, 24 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Cerus files

Where Cerus stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $37m, up 11.3% on a year earlier, slower than the 26.1% growth a quarter earlier. Free-cash-flow margin rose to -38.1% from -47.8% a year earlier. The diluted share count is up 3.9% on a year earlier, which dilutes existing holders. It passes 2 of our 3 financial-health checks.

Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 21, 2027 (estimated)

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 194.0% while net income grew 54.2%: a 140pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 74.6% over the last 12 months.
  • Growth speeding up. The growth rate is 12.7 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 59.7 points on a year ago.

Things to watch

  • Loss-making. Operating margin is -1.0%: costs exceed revenue.
  • Share dilution. Diluted shares rose 4.3% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 76% and a beta of 1.5 against the S&P 500.
  • Gross margin slipping. Gross margin is down 2.6 points on a year ago.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
$0.00 against an average estimate of -$0.01: beat by 100.0%
Revenue
$58m, up 9.5% on a year earlier
Guidance given
product revenue $229m to $231m (full-year 2026); product revenue growth growth 11% to 12% (full-year 2026)
Next report
November 2, 2026; average EPS estimate -$0.01

Cerus' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.5%
  • 1 week-0.4%
  • 1 month+3.5%
  • This year+14.6%
  • 1 year+60.5%
  • 5 years-69.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$254M
Operating margin
-1.0%
Net margin
-2.9%
EPS (TTM, diluted)
$-0.04

Growth

Share count change
+4.3%

Cash

Free cash flow (TTM)
$494,000
FCF margin
0.2%
Stock pay % of revenue
8.4%

Earnings

Last results
November 2, 2026
Next results (est.)
January 21, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results
  3. Guidance
  4. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Cerus Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Cerus Corp as an operating company, with every model that fits that kind of business. Cost of equity 10.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.2 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$1.2 ~$1.4–$6.2 Included, half weight
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$1.2 ~$1.2–$6.2 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Cerus Corp with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$6.32$4.35$3.38$5.07$4.22$6.92$6.81$3.65$2.16$1.54$2.06$2.36
Market value$612m$443m$366m$668m$590m$1.1bn$1.2bn$644m$389m$284m$393m$465m
+ Net debt (− = net cash)−$51m−$3m$16m$1m$4m$3m$6m$34m$68m$64m$64m$47m
Enterprise value$561m$440m$382m$669m$595m$1.1bn$1.2bn$679m$458m$348m$457m$512m
Multiples
Price / sales 17.9x11.3x7.1x8.8x6.3x9.9x7.3x3.4x2.1x1.4x1.7x1.8x
Price / earnings ————————————
Price / free cash flow —————————33.4xn/mn/m
EV / EBITDA ————————————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

21 /100

Weak moat

How hard Cerus's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -23.7% of total assets over 7 years.

  • Pricing power 9 / 20

    Gross margin has been a median 43.8%, moving by 8.3 percentage points (standard deviation) across 8 years.

  • Durability 10 / 20

    Operating margin has been a median -72.3%; its worst year was -178.5%.

  • Cash conversion 1 / 20

    Free cash flow was positive in 1 of 8 years, at a median -93.8% of revenue.

  • Discipline 1 / 20

    The diluted share count rose 16.1% over five years; stock-based pay has been a median 13.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.04 +44% $249m +21%
Next −$0.01 +89% $272m +9%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +50.0% on 90 days ago. In the last 30 days, 0 analysts raised Cerus Corp's forecast and 2 cut it.

Consensus EPS forecast Cerus Corp, last 90 days
−$0.06 −$0.04 −$0.02 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.03 Current fiscal year, 60 days ago: −$0.03 Current fiscal year, 30 days ago: −$0.03 Current fiscal year, 7 days ago: −$0.04 Current fiscal year, Now: −$0.04 −$0.04

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal year
90 days ago −$0.03
60 days ago −$0.03
30 days ago −$0.03
7 days ago −$0.04
Now −$0.04

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.01 $0.00 +100.0%
Jun 2026 −$0.01 −$0.01 0.0%
Mar 2026 −$0.04 −$0.01 +71.4%
Dec 2025 −$0.01 −$0.01 −100.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 30, 2026
  • Product revenue full-year 2026 $229m to $231m Raised
    “The Company now expects full-year 2026 product revenue to be in the range of $229 million to $231 million, reflecting growth of 11% to 12% from 2025.” source
  • Product revenue growth full-year 2026 11% growth to 12% growth Raised
    “The Company now expects full-year 2026 product revenue to be in the range of $229 million to $231 million, reflecting growth of 11% to 12% from 2025.” source
  • IFC revenue · IFC (INTERCEPT Fibrinogen Complex) full-year 2026 $23m to $25m Raised
    “Included in this range is increased full-year 2026 IFC revenue guidance of $23 million to $25 million.” source
  • IFC sales growth · IFC (INTERCEPT Fibrinogen Complex) 2026 40% growth to 50% growth Raised
    “Raising 2026 IFC Sales Outlook to $23 to $25 million, up approximately 40% to 50% Y/Y” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

4 analysts, Nov 2026
Buy4100%
Hold00%
Sell00%

Monthly trend

  1. Nov 202644

Counts of recommendations published by analysts covering Cerus Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.5%
of tradable shares
Days to cover
8.47
at average volume
Short interest, 1 month
−8%
to October 15, 2026
Held by institutions
73%
of shares
Held by insiders
3.6%
of shares
Employees
261
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +60.5%

$1.47 on October 31, 2025 to $2.36

ThenNowEffect
Revenue (last 12 months) $76m $249m +227.7%
P/S multiple 3.6x 1.8x −49.1%
Share count 187m 195m −3.7%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +36.4%

$1.73 on November 3, 2023 to $2.36

ThenNowEffect
Revenue (last 12 months) $76m $249m +227.7%
P/S multiple 4.1x 1.8x −54.6%
Share count 178m 195m −8.4%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CERS−2%−46%−41%−29%+34%+15%
Industry peers (median)−9%−37%−8%−19%−16%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CERS42%50%42%33%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CERS−39%−52%−67%−37%−46%−38%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 86% from December 22, 2020 to August 20, 2025. Getting back needed a 638% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.41 – $3.28
From 52-week high
−28.0%
vs 50-day average
−4.0%
vs 200-day average
−3.6%
Volatility (1 year)
76%
Beta vs S&P 500
1.47

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 5 down
typical move ±14.3%
After a week
6 up, 5 down
typical move ±14.0%
After a month
6 up, 5 down
typical move ±13.9%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 −25.1% +2.4% −19.2% −7.7%
April 30, 2026 +41.7% +1.3% +35.9% +47.9%
March 2, 2026 −16.8% −0.8% −24.6% −28.9%
January 12, 2026 +22.3% 0.0% +20.4% +4.4%
November 6, 2025 +17.9% −1.0% +10.3% +29.0%
August 5, 2025 −0.8% +0.3% −0.8% +2.3%
May 1, 2025 +2.3% +2.2% +3.0% 0.0%
February 20, 2025 −8.8% −2.1% −12.2% −15.5%
January 13, 2025 +9.5% +0.3% +17.1% +8.9%
October 30, 2024 −7.6% −2.3% +6.5% +8.8%
August 1, 2024 +4.0% −3.3% −3.5% 0.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Cerus Corp
$0 $100M $200M $300M FY17 Q1 FY17 Q4 FY18 Q3 FY26 Q3 Revenue (TTM), FY17 Q1: $36.6M Revenue (TTM), FY17 Q2: $36.8M Revenue (TTM), FY17 Q3: $37.5M Revenue (TTM), FY17 Q4: $43.6M Revenue (TTM), FY18 Q1: $50.1M Revenue (TTM), FY18 Q2: $56M Revenue (TTM), FY18 Q3: $60.6M Revenue (TTM), FY18 Q4: $76.1M Revenue (TTM), FY25 Q4: $233.8M Revenue (TTM), FY26 Q1: $244.2M Revenue (TTM), FY26 Q2: $249.2M Revenue (TTM), FY26 Q3: $254.2M $254.2M

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY17 Q1 $36.6M
FY17 Q2 $36.8M
FY17 Q3 $37.5M
FY17 Q4 $43.6M
FY18 Q1 $50.1M
FY18 Q2 $56M
FY18 Q3 $60.6M
FY18 Q4 $76.1M
FY25 Q4 $233.8M
FY26 Q1 $244.2M
FY26 Q2 $249.2M
FY26 Q3 $254.2M
Revenue growth, TTM YoY Cerus Corp
-50% 0% 50% 100% FY16 Q1 FY16 Q4 FY17 Q3 FY18 Q4 Revenue growth, TTM YoY, FY16 Q1: -5.7% Revenue growth, TTM YoY, FY16 Q2: -5.2% Revenue growth, TTM YoY, FY16 Q3: 7.5% Revenue growth, TTM YoY, FY16 Q4: 8.6% Revenue growth, TTM YoY, FY17 Q1: 7.0% Revenue growth, TTM YoY, FY17 Q2: 6.5% Revenue growth, TTM YoY, FY17 Q3: 2.0% Revenue growth, TTM YoY, FY17 Q4: 17.2% Revenue growth, TTM YoY, FY18 Q1: 37.1% Revenue growth, TTM YoY, FY18 Q2: 52.1% Revenue growth, TTM YoY, FY18 Q3: 61.9% Revenue growth, TTM YoY, FY18 Q4: 74.6% 74.6%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY16 Q1 -5.7%
FY16 Q2 -5.2%
FY16 Q3 7.5%
FY16 Q4 8.6%
FY17 Q1 7.0%
FY17 Q2 6.5%
FY17 Q3 2.0%
FY17 Q4 17.2%
FY18 Q1 37.1%
FY18 Q2 52.1%
FY18 Q3 61.9%
FY18 Q4 74.6%
Operating margin (TTM) Cerus Corp
-200% -150% -100% -50% 0% FY17 Q1 FY17 Q4 FY18 Q3 FY26 Q3 Operating margin (TTM), FY17 Q1: -175.6% Operating margin (TTM), FY17 Q2: -172.8% Operating margin (TTM), FY17 Q3: -165.0% Operating margin (TTM), FY17 Q4: -132.0% Operating margin (TTM), FY18 Q1: -105.3% Operating margin (TTM), FY18 Q2: -87.8% Operating margin (TTM), FY18 Q3: -83.1% Operating margin (TTM), FY18 Q4: -72.3% Operating margin (TTM), FY25 Q4: -3.7% Operating margin (TTM), FY26 Q1: -1.3% Operating margin (TTM), FY26 Q2: -0.6% Operating margin (TTM), FY26 Q3: -1.0% -1.0%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY17 Q1 -175.6%
FY17 Q2 -172.8%
FY17 Q3 -165.0%
FY17 Q4 -132.0%
FY18 Q1 -105.3%
FY18 Q2 -87.8%
FY18 Q3 -83.1%
FY18 Q4 -72.3%
FY25 Q4 -3.7%
FY26 Q1 -1.3%
FY26 Q2 -0.6%
FY26 Q3 -1.0%
FCF margin (TTM) Cerus Corp
-200% -150% -100% -50% 0% 50% FY17 Q1 FY17 Q4 FY18 Q3 FY26 Q3 FCF margin (TTM), FY17 Q1: -157.4% FCF margin (TTM), FY17 Q2: -152.3% FCF margin (TTM), FY17 Q3: -140.1% FCF margin (TTM), FY17 Q4: -120.7% FCF margin (TTM), FY18 Q1: -92.6% FCF margin (TTM), FY18 Q2: -75.5% FCF margin (TTM), FY18 Q3: -57.4% FCF margin (TTM), FY18 Q4: -42.6% FCF margin (TTM), FY25 Q4: 0.5% FCF margin (TTM), FY26 Q1: -0.5% FCF margin (TTM), FY26 Q2: -0.7% FCF margin (TTM), FY26 Q3: 0.2% 0.2%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY17 Q1 -157.4%
FY17 Q2 -152.3%
FY17 Q3 -140.1%
FY17 Q4 -120.7%
FY18 Q1 -92.6%
FY18 Q2 -75.5%
FY18 Q3 -57.4%
FY18 Q4 -42.6%
FY25 Q4 0.5%
FY26 Q1 -0.5%
FY26 Q2 -0.7%
FY26 Q3 0.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 18 23 33 37 40 36 34 39 51 76 94 114 160 188 187 201 234 254
Gross profit 5 10 12 16 17 15 11 17 29 44 60 73 — — — — — —
EBITDA −23 −15 −15 −17 −28 −43 −59 −60 −56 −54 −64 −55 −46 −31 −27 −12 −7 −1
Operating income −24 −16 −16 −17 −28 −45 −61 −61 −58 −55 −66 −58 −49 −34 −30 −14 −9 −2
Net income −24 −17 −17 −16 −43 −39 −56 −63 −61 −58 −71 −60 −54 −43 −37 −21 −16 −7
Diluted EPS −$0.69 −$0.42 −$0.35 −$0.33 −$0.64 −$0.61 −$0.61 −$0.62 −$0.56 −$0.44 −$0.51 −$0.37 −$0.32 −$0.24 −$0.21 −$0.11 −$0.08 −$0.04
Growth (year on year)
Revenue — +28.5% +43.0% +11.3% +7.8% −8.2% −6.0% +14.8% +30.7% +48.2% +23.3% +21.8% +39.6% +18.1% −0.8% +7.8% +16.1% —
Margins
Gross margin 30.0% 41.7% 36.5% 43.7% 43.0% 41.8% 31.4% 43.0% 56.1% 58.4% 64.4% 64.0% — — — — — —
EBITDA margin −127.7% −65.4% −45.4% −45.0% −69.5% −118.3% −173.5% −151.8% −108.6% −70.4% −68.1% −48.3% −28.7% −16.5% −14.7% −6.1% −3.1% −0.3%
Operating margin −132.5% −69.1% −48.2% −47.0% −71.4% −122.2% −178.5% −156.5% −112.1% −72.3% −70.6% −51.1% −30.7% −18.1% −16.1% −7.1% −3.7% −1.0%
Net margin −134.2% −73.2% −51.4% −43.3% −109.3% −106.4% −163.2% −160.2% −118.0% −75.7% −76.0% −52.4% −34.1% −22.7% −20.1% −10.4% −6.7% −2.9%
Free-cash-flow margin −82.0% −69.1% −47.8% −38.1% −69.2% −115.1% −151.5% −137.7% −102.5% −42.6% −79.4% −38.0% −21.8% −14.7% −25.6% 4.2% 0.5% 0.2%
Cash flow
Cash from operations −15 −14 −16 −14 −27 −40 −51 −54 −52 −31 −65 −42 −34 −26 −43 11 5 3
Capital spending 0 2 0 0 1 2 1 1 0 1 9 2 1 2 5 3 4 3
Free cash flow −15 −16 −16 −14 −27 −42 −52 −54 −53 −32 −74 −43 −35 −28 −48 9 1 0
Stock-based pay 2 2 2 3 3 5 7 8 9 10 13 18 24 24 20 23 23 21
Free cash flow after stock pay −17 −18 −18 −17 −31 −47 −59 −62 −62 −43 −88 −61 −58 −52 −68 −14 −22 −21
Balance sheet
Cash 17 29 25 27 29 23 71 23 14 29 35 37 49 36 12 20 20 16
Total debt 0 5 7 8 3 10 20 19 30 30 39 40 55 70 80 84 84 64
Net debt (negative = net cash) −17 −24 −18 −19 −26 −13 −51 −3 16 1 4 3 6 34 68 64 64 47
Diluted shares 35m — 48m 55m 68m 77m 97m 102m 108m 132m 140m 164m 171m 177m 180m 185m 191m 197m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · September 30, 2026
What it owns · $205m
Short-term assets $157mLonger-term assets $48m
What it owes, and who funded it · $204m
Short-term liabilities $80mLonger-term liabilities $48mShareholders' equity $76m
  • Short-term assets cover short-term liabilities $157m of assets due within a year against $80m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $157m short-term assets against $48m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$2m against $7m of interest.

From Cerus Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+4.3%
year over year
R&D spending
23.4%
of revenue
Sales & admin spending
33.7%
of revenue
Days sales outstanding
44 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated CERS LMAT ESTA KIDS AXGN SKIN Median
Revenue, last 12 months $254m $262m $246m $264m $267m $290m $99m
Revenue growth, last 12 months 74.6% 11.8% 38.6% 16.1% 24.3% −6.5% 9.2%
Revenue growth, 3-year average 89.8% 14.0% 11.5% 23.0% 20.6% −9.5% 13.5%
Revenue growth, latest quarter 9.5% 9.6% 31.7% 18.6% 26.2% −7.8% 10.2%
Gross margin 58.4% 72.9% 70.5% 73.8% 74.2% 66.4% 61.2%
Operating margin −1.0% 29.5% −7.6% −9.4% −5.2% −1.5% −8.5%
Operating margin, 3-year average −68.4% 25.0% −27.9% −14.8% −2.7% −17.9% −17.9%
Net margin −2.9% 25.0% −15.8% −12.8% −12.0% −9.8% −12.0%
Cash from operations / revenue 1.4% 31.6% −13.1% 4.7% 10.6% 7.6% −1.9%
Free-cash-flow margin 0.2% 28.1% −16.9% 1.2% 8.3% 7.3% −3.9%
Free-cash-flow margin, 3-year average −54.4% 21.9% −36.3% −12.5% 1.7% 6.8% −7.0%
Stock pay / revenue 8.4% 3.0% 4.9% 6.4% 15.4% 3.8% 6.1%
Change in share count 4.3% 2.0% 4.2% 2.2% 10.6% −1.8% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Operating margin Profitability -1.0% -8.3% 48 of 132
Net margin Profitability -2.9% -12.0% 49 of 133
Free-cash-flow margin Cash generation 0.2% -3.4% 52 of 128
Stock pay as % of revenue Cash generation 8.4% 6.1% 72 of 123
Change in share count Balance sheet 4.3% 3.3% 68 of 115
Days sales outstanding Balance sheet 44 days 57 days 28 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $206M 88.2% ▲ 14.3%
Government Contract $27.7M 11.8% ▲ 31.4%

From Cerus Corp's 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$439M
Institutions reporting
184
Shares held vs prior quarter
▼ 0.6%
Positions opened / closed
34 / 16

Top buyers and sellers, Q2 2026: 105 institutions bought and 69 sold ; the biggest buyer was Mackenzie Financial Corp (+3.0M shares) and the biggest seller Soleus Capital Management, L.P (−8.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $64.9M 22.2M 14.8% ▲ 3.0%
ARK Investment Management LLC $52.4M 17.9M 11.9% ▼ 6.4%
Vanguard Capital Management LLC $25M 8.6M 5.7% ▲ 5.3%
Baker Bros. Advisors LP $18.7M 6.4M 4.3% ▼ 36.1%
D. E. Shaw & Co., Inc. $16M 5.5M 3.6% ▲ 47.0%
Geode Capital Management, LLC $15M 5.1M 3.4% ▲ 10.4%
State Street Corp $13.9M 4.8M 3.2% ▲ 12.8%
Senvest Management, LLC $13.5M 4.6M 3.1% ▲ 12.2%
Acadian Asset Management LLC $12.5M 4.3M 2.8% ▲ 15.1%
Sumitomo Mitsui Trust Group, Inc. $12.1M 4.1M 2.8% ▼ 8.3%
Amova Asset Management Americas, Inc. $12.1M 4.1M 2.7% ▼ 8.5%
Silvercrest Asset Management Group LLC $11.9M 4.1M 2.7% ▼ 3.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Cerus Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $3.3M 25 trades by 6 insiders · 98% under pre-set plans
Net ▼ $3.3M net selling
Insider Date Trade Shares Price Value
Jensen Chrystal Chief Legal Officer August 17, 2026 Sell pre-set plan 30,000 $2.98 $89,400
Jayaraman Vivek K Chief Executive Officer July 16, 2026 Sell pre-set plan 16,666 $3.16 $52,665
Greenman William Mariner President and CEO June 30, 2026 Sell pre-set plan 101,919 $2.94 $299,642
Jensen Chrystal Chief Legal Officer June 30, 2026 Sell pre-set plan 24,329 $2.94 $71,527
Jayaraman Vivek K Chief Operating Officer June 30, 2026 Sell pre-set plan 42,359 $2.94 $124,535
Green Kevin Dennis Chief Financial Officer June 30, 2026 Sell pre-set plan 33,676 $2.94 $99,007
Bjerkholt Eric Director June 9, 2026 Sell 20,454 $2.60 $53,180
Jayaraman Vivek K Chief Operating Officer May 29, 2026 Sell pre-set plan 16,667 $3.00 $50,001
Jayaraman Vivek K Chief Operating Officer May 1, 2026 Sell pre-set plan 16,667 $3.00 $50,001
Benjamin Richard J Chief Medical Officer March 12, 2026 Sell pre-set plan 101,740 $1.66 $168,888
Green Kevin Dennis Chief Financial Officer March 12, 2026 Sell pre-set plan 127,544 $1.66 $211,723
Greenman William Mariner President and CEO March 12, 2026 Sell pre-set plan 447,757 $1.66 $743,277

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 21, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • July 30, 2026
  • April 30, 2026
  • March 2, 2026
  • January 12, 2026
  • November 6, 2025

Recent SEC filings

Data status

When each part of this page on Cerus Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Cerus Corp in brief

What does Cerus Corp do?
Cerus Corp is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Cerus Corp's stock ticker?
Cerus Corp trades under the ticker CERS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Cerus Corp's free cash flow?
Cerus Corp's free-cash-flow margin is 0.2% of revenue over the trailing twelve months, ranking 52 of the 128 health care equipment companies we cover.
Who are Cerus Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., ARK Investment Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Cerus Corp's market cap?
On November 2, 2026, Cerus Corp's market capitalisation was about $465M and net debt of $47.2M. Market figures come from third-party market data and may be delayed.
Who are Cerus Corp's competitors?
In our Health Care Equipment peer group, the companies closest to Cerus Corp are Lemaitre Vascular Inc, Establishment Labs Holdings Inc., Orthopediatrics Corp, Axogen, Inc. and Skinhealth Systems Inc. The side-by-side comparison below sets their revenue, margins and growth against Cerus Corp's.
Are insiders buying or selling Cerus Corp stock?
Over the last 12 months, Cerus Corp's directors and officers reported 0 open-market purchases and 25 sales on Form 4. The insider trading page charts every trade.
When is Cerus Corp's next earnings date?
Around January 21, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Cerus Corp announces its own schedule.