Cerus beats Q3 revenue forecast, but shares slip after hours

Cerus Corporation, the maker of blood-safety technology used to protect transfusions, beat Wall Street's third-quarter 2026 revenue forecast. It reported $64 million against the $63.25 million analysts expected. Even so, the stock fell 6.78% in after-hours trading to $2.20.

The numbers behind the headline are the real story. Product revenue rose 10% from a year earlier to $57.7 million, and it is up 14% so far this year at $168.8 million. Adjusted EBITDA, a measure of operating profit that strips out certain costs, came in at $5.7 million. That is the 10th straight quarter in the black on that measure, up from $5.0 million a year ago.

The net loss under standard accounting rules (GAAP) shrank to less than $1 million, which puts Cerus close to breakeven. Operating cash flow was positive at $3 million, and cash and equivalents ended September at $57.1 million, about $1 million higher than at the end of June.

Demand in North America did much of the lifting. Product revenue there grew 12%, driven by INTERCEPT platelets and wider adoption of IFC, according to the company. Cerus also said placements of its INT200 illuminator in Europe, the Middle East and Africa ran ahead of its expectations.

Costs grew more slowly than sales. Operating expenses rose 5% to $36.2 million, while research and development spending fell 10%. Gross margin was 52.4%, a bit below last year's 53.4% but above the prior quarter's 51.4%. Management credited a richer product mix, including more IFC kits, and tighter inventory control.

Cerus also reported positive top-line results from its RedeS phase III trial of pathogen reduction for red blood cells. The company said the study met its primary efficacy endpoint and showed no statistically significant difference in primary safety outcomes between treated and control groups.

Why did the stock slide? The source doesn't say. The revenue beat was small, just $750,000 or 1.19%. No earnings-per-share figure appeared in the materials reviewed, though analysts had expected a loss of $0.02 a share. Shares had closed the regular session up 3.51% at $2.36, so some of the good news may already have been priced in. For patients and hospitals, the takeaway is steadier demand for safer blood products. For investors, it is a company that is growing and finally nearing profit.

Read the original report: Investing.com's earnings call coverage.

Related: Kiren Rijiju meets Bhutan PM Tshering Tobgay in Gelephu, backs Mindfulness City · Zee Entertainment revenue up 13% as FIFA World Cup lifts Zee5 to record high