Cerus (CERS) FY2019 results: revenue $94 million, up 23.3% on the year
Cerus Corp. (CERS) reported revenue of $94 million for fiscal 2019, the year ended 31 December 2019, up 23.3% on the year before. Net income was -$71 million, and diluted earnings per share $-0.51. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2020.
Revenue
$94 million
+23.3% on the year
FY2012FY2019
Operating margin
-70.6%
-72.3% a year earlier
FY2012FY2019
Net income
-$71 million
FY2012FY2019
Diluted EPS
-$0.51
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
93.8
76.1
51.3
+23.3%
Cost of revenue
33.4
31.6
22.5
+5.6%
Gross profit
60.4
44.4
28.8
+35.9%
Gross margin
64.4%
58.4%
56.1%
Research and development
60.4
42.6
33.7
+41.8%
Selling, general and administrative
66.2
56.8
52.6
+16.5%
Operating income
-66.2
-55.0
-57.5
Operating margin
-70.6%
-72.3%
-112.1%
Interest expense
6.1
4.0
3.0
+51.3%
Pre-tax income
-71.0
-57.3
-56.7
Income tax
0.3
0.2
3.9
+14.8%
Net income
-71.2
-57.6
-60.6
Net margin
-76.0%
-75.7%
-118.0%
Diluted EPS
-$0.51
-$0.44
-$0.56
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
-65.5
-31.2
-52.2
Capital expenditure
8.9
1.1
0.4
+681.0%
Free cash flow
-74.4
-32.4
-52.6
Free cash flow margin
-79.4%
-42.6%
-102.5%
Cash from investing
28.2
-43.8
0.4
Cash from financing
43.5
92.8
43.0
-53.1%
Depreciation and amortisation
2.4
1.4
1.8
+66.3%
Share-based compensation
13.3
10.4
9.4
+28.1%
Diluted shares, weighted
140m
132m
108m
+6.2%
Shares outstanding at period end
144m
137m
103m
+5.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
57.1
84.5
38.9
-32.5%
Debt
44.4
30.0
30.0
+48.1%
Operating lease liabilities
18.4
n/a
n/a
Other liabilities
45.6
48.9
29.3
-6.7%
Total liabilities and equity
166
163
98.2
+1.3%
Fixed assets
14.9
8.1
2.1
+83.2%
Goodwill
1.3
1.3
1.3
0.0%
Intangible assets
0.1
0.3
0.5
-60.5%
Investments
50.7
88.7
47.0
-42.8%
Cash and equivalents
35.0
28.9
13.7
+21.2%
Receivables
16.9
8.8
12.4
+92.9%
Inventory
19.5
13.5
14.5
+44.0%
Other assets
27.1
13.8
6.7
+96.2%
Total assets
166
163
98.2
+1.3%
10-K for the year ended 31 December 2019, filed 21 February 2020: the filing.