Cerus (CERS) FY2020 results: revenue $114 million, up 21.8% on the year
Cerus Corp. (CERS) reported revenue of $114 million for fiscal 2020, the year ended 31 December 2020, up 21.8% on the year before. Net income was -$60 million, and diluted earnings per share $-0.37. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$114 million
+21.8% on the year
FY2013FY2020
Operating margin
-51.1%
-70.6% a year earlier
FY2013FY2020
Net income
-$60 million
FY2013FY2020
Diluted EPS
-$0.37
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
114
93.8
76.1
+21.8%
Cost of revenue
41.2
33.4
31.6
+23.2%
Gross profit
73.1
60.4
44.4
+21.1%
Gross margin
64.0%
64.4%
58.4%
Research and development
64.4
60.4
42.6
+6.7%
Selling, general and administrative
67.0
66.2
56.8
+1.2%
Operating income
-58.3
-66.2
-55.0
Operating margin
-51.1%
-70.6%
-72.3%
Interest expense
3.7
6.1
4.0
-38.2%
Pre-tax income
-59.6
-71.0
-57.3
Income tax
0.3
0.3
0.2
+8.0%
Net income
-59.9
-71.2
-57.6
Net margin
-52.4%
-76.0%
-75.7%
Diluted EPS
-$0.37
-$0.51
-$0.44
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-41.8
-65.5
-31.2
Capital expenditure
1.6
8.9
1.1
-81.9%
Free cash flow
-43.4
-74.4
-32.4
Free cash flow margin
-38.0%
-79.4%
-42.6%
Cash from investing
-49.6
28.2
-43.8
Cash from financing
91.8
43.5
92.8
+111.1%
Depreciation and amortisation
3.1
2.4
1.4
+29.4%
Share-based compensation
18.0
13.3
10.4
+35.4%
Diluted shares, weighted
164m
140m
132m
+17.2%
Shares outstanding at period end
168m
144m
137m
+16.5%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
104
57.1
84.5
+81.9%
Debt
48.1
44.4
30.0
+8.3%
Operating lease liabilities
16.9
18.4
n/a
-8.3%
Other liabilities
52.6
45.6
48.9
+15.3%
Total liabilities and equity
221
166
163
+33.8%
Fixed assets
13.9
14.9
8.1
-6.9%
Goodwill
1.3
1.3
1.3
0.0%
Intangible assets
n/a
0.1
0.3
Investments
97.0
50.7
88.7
+91.2%
Cash and equivalents
36.6
35.0
28.9
+4.6%
Receivables
21.2
16.9
8.8
+25.4%
Inventory
23.3
19.5
13.5
+19.3%
Other assets
28.2
27.1
13.8
+4.1%
Total assets
221
166
163
+33.8%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.