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Cerus - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Cerus (ISIN: US1570851014, WKN: 905249) Kursdatum: 21.07.2017 Kurs: 2,150 USD
Beschreibung Daten
Symbol CERS
Marktkapitalisierung 218.925.904,00 USD
Land Vereinigte Staaten von Amerika
Indizes NASDAQ Comp.
Sektor Gesundheitswesen
Rohdaten nach US GAAP in Millionen USD
Aktiensplits
Internet
Letztes Bilanz Update 08.03.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
-4,05 -4,09 0,01% -61,01 55,85 -3,47 5,57 3,79

Firmenbeschreibung

 

Note 18. Quarterly

Financial Information (Unaudited)

The following tables

summarize the Company’s quarterly financial information for

the years ended December 31, 2015 and 2014 (in thousands

except per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Three Months

Ended

 

 

 

 

  

March 31,

2015

 

 

June 30,

2015

 

 

September 30,

2015

 

 

December 31,

2015

 

 

 

 

Revenue

 

  

$

7,692

  

 

$

8,830

  

 

$

8,045

  

 

$

9,656

  

 

 

 

Gross profit

 

  

 

2,978

  

 

 

1,802

  

 

 

2,485

  

 

 

3,494

  

 

 

 

Net loss

 

  

$

(9,460

 

$

(15,972

 

$

(15,680

 

$

(14,756

 

 

 

Net loss per

share:

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

  

$

(0.10

 

$

(0.17

 

$

(0.16

 

$

(0.15

 

 

 

Diluted

 

  

$

(0.17

 

$

(0.17

 

$

(0.17

 

$

(0.15

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Three Months

Ended

 

 

 

 

  

March 31,

2014

 

 

June 30,

2014

 

 

September 30,

2014

 

 

December 31,

2014

 

 

 

 

Product revenue

 

  

$

7,866

  

 

$

8,601

  

 

$

10,362

  

 

$

9,587

  

 

 

 

Gross profit

 

  

 

3,709

  

 

 

3,849

  

 

 

4,673

  

 

 

2,997

  

 

 

 

Net loss

 

  

$

(225

 

$

(7,589

 

$

(10,759

 

$

(20,182

 

 

 

Net loss per

share:

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

  

$

(0.00

 

$

(0.10

 

$

(0.14

 

$

(0.26

 

 

 

Diluted

 

  

$

(0.12

 

$

(0.16

 

$

(0.16

 

$

(0.26

 

 

 

Firmenstrategie

 

Principles of

Consolidation

The accompanying

consolidated financial statements include those of Cerus

Corporation and its subsidiary, Cerus Europe B.V. (together with

Cerus Corporation, hereinafter “Cerus” or the

“Company”) after elimination of all intercompany

accounts and transactions. These consolidated financial statements

have been prepared in accordance with accounting principles

generally accepted in the U.S. (“GAAP”) and pursuant to

the rules and regulations of the Securities and Exchange Commission

(“SEC”).

 

RevenueRecognitionPolicyTextBlock

 

Revenue

The Company recognizes

revenue in accordance with Accounting Standards Codification

(“ASC”) Topic 605-25, “Revenue

Recognition—Arrangements with Multiple

Deliverables,” as applicable. Revenue is recognized when

(i) persuasive evidence of the arrangement exists;

(ii) delivery has occurred or services have been rendered;

(iii) pricing is fixed or determinable; and

(iv) collectability is reasonably assured. The Company’s

main sources of revenues for the years ended December 31,

2015, 2014 and 2013, were product revenue from sales of the

INTERCEPT Blood System for platelets and plasma (“platelet

and plasma systems”).

Revenue related to product

sales is generally recognized when the Company fulfills its

obligations for each element of an agreement. For all sales of the

Company’s INTERCEPT Blood System products, the Company uses a

binding purchase order or signed sales contract as evidence of an

arrangement. The Company sells its platelet and plasma systems

directly to blood banks, hospitals, universities, government

agencies, as well as to distributors in certain regions. Generally,

the Company’s contracts with its customers do not provide for

open return rights, except within a reasonable time after receipt

of goods in the case of defective or non-conforming product.

Deliverables and the units of accounting vary according to the

provisions of each purchase order or sales contract. For revenue

arrangements with multiple elements, the Company determines whether

the delivered elements meet the criteria as separate units of

accounting. Such criteria require that the deliverable have

stand-alone value to the customer and that if a general right of

return exists relative to the delivered item, delivery or

performance of the undelivered item(s) is considered probable and

substantially in the control of the Company. Once the Company

determines if the deliverable meets the criteria for a separate

unit of accounting, the Company must determine how the

consideration should be allocated between the deliverables and how

the separate units of accounting should be recognized as revenue.

Consideration received is allocated to elements that are identified

as discrete units of accounting. Because the Company has no vendor

specific objective evidence or third party evidence for its systems

due to the Company’s variability in its pricing across the

regions into which it sells its products, the allocation of revenue

is based on best estimated selling price for the systems sold. The

objective of best estimated selling price is to determine the price

at which the Company would transact a sale, had the product been

sold on a stand-alone basis. The Company determines best estimated

selling price for its systems by considering multiple factors. The

Company regularly reviews best estimated selling price. At

December 31, 2015 and 2014, the Company had $0.6 million and

$0.4 million, respectively, of short-term deferred revenue on its

consolidated balance sheets related to future performance

obligations. At each of December 31, 2015 and 2014, the

Company had $0.1 million of long-term deferred revenue included in

“Other non-current liabilities” on it consolidated

balance sheets related to future performance obligations. Freight

costs charged to customers are recorded as a component of revenue.

Taxes that the Company invoices to its customers and remits to

governments are recorded on a net basis, which excludes such tax

from product revenue.

 

SegmentReportingDisclosureTextBlock

 

Note 17. Segment,

Customer and Geographic Information

The Company continues to

operate in only one segment, blood safety. The Company’s

chief executive officer is the chief operating decision maker who

evaluates performance based on the net revenues and operating loss

of the blood safety segment. The Company considers the sale of all

of its INTERCEPT Blood System products to be similar in nature and

function, and any revenue earned from services is

minimal.

The Company’s

operations outside of the U.S. include a wholly-owned subsidiary

headquartered in Europe. The Company’s operations in the U.S.

are responsible for the research and development and global and

domestic commercialization of the INTERCEPT Blood System, while

operations in Europe are responsible for the commercialization

efforts of the platelet and plasma systems in Europe, the

Commonwealth of Independent States and the Middle East. Product

revenues are attributed to each region based on the location of the

customer.

The Company had the

following significant customers that accounted for more than 10% of

the Company’s total product revenue, all of which operate in

a country outside of the U.S., during the years ended

December 31, 2015, 2014 and 2013 (in percentages):

 

     Year Ended December 31,  
         2015             2014             2013      
 

Etablissement Francais du Sang

 
     23     25     17
 

Grifols

 
     *        *        18

 

* Represents an amount less than 10% of product revenue.

 

Revenues by geographical

location was based on the location of the customer during the years

ended December 31, 2015, 2014 and 2013, and was as follows (in

thousands):

 

     Year Ended December 31,  
     2015      2014      2013  
 

Revenue:

 
        
 

France

 
   $ 7,732       $ 9,184       $ 7,030   
 

Spain and Portugal

 
     4,070         2,776         7,033   
 

CIS

 
     3,361         6,636         8,220   
 

Belgium

 
     5,728         4,456         3,971   
 

Switzerland

 
     2,938         3,784         4,078   
 

Other countries

 
     10,394         9,580         9,325   
    

 

 
 

 

 
      

 

 
 

 

 
      

 

 
 

 

 
 
 

Total revenue

 
   $ 34,223       $ 36,416       $ 39,657   
    

 

 
 

 

 
      

 

 
 

 

 
      

 

 
 

 

 
 

Long-lived assets by

geographical location, which consist of property and equipment, net

and intangible assets, net, at December 31, 2015 and 2014,

were as follows (in thousands):

 

     December 31,  
      2015      2014  
 

U.S.

 
   $ 4,260       $ 4,624   
 

Europe & other

 
     229         299   
    

 

 
 

 

 
      

 

 
 

 

 
 
 

Total long-lived assets

 
   $ 4,489       $ 4,923   
    

 

 
 

 

 
      

 

 
 

 

 
 

 

EarningsPerSharePolicyTextBlock

 

Net Loss Per

Share

Basic net loss per share is

computed by dividing net loss by the weighted average number of

common shares outstanding for the period. Diluted net loss per

share gives effect to all potentially dilutive common shares

outstanding for the period. The potentially dilutive securities

include stock options, employee stock purchase plan rights,

warrants and restricted stock units, which are calculated using the

treasury stock method, and convertible preferred stock, which is

calculated using the if-converted method. Diluted net loss per

share also gives effect to potential adjustments to the numerator

for gains resulting from the revaluation of warrants to fair value

for the period, even if the Company is in a net loss position if

the effect would result in more dilution.

Certain potential dilutive

securities were excluded from the dilution calculation for the

years ended December 31, 2015 and 2014, as their inclusion

would have been anti-dilutive. Diluted net loss per common share

used the same weighted average number of common shares outstanding

for the year ended December 31, 2013, as calculated for the

basic net loss per common share as the inclusion of any potential

dilutive securities would be anti-dilutive.

 

The following table sets

forth the reconciliation of the numerator and denominator used in

the computation of basic and diluted net loss per share for the

years ended December 31, 2015, 2014 and 2013 (in thousands,

except per share amounts):

 

     Year Ended December 31,  
     2015     2014     2013  
 

Numerator for Basic and Diluted:

 
      
 

Net loss used for basic calculation

 
   $ (55,868   $ (38,755   $ (43,337
 

Effect of revaluation of warrant liability

 
     (3,566     (7,708       
    

 

 
 

 

 
     

 

 
 

 

 
     

 

 
 

 

 
 
 

Adjusted net loss used for dilution calculation

 
   $ (59,434   $ (46,463   $ (43,337
    

 

 
 

 

 
     

 

 
 

 

 
     

 

 
 

 

 
 
 

Denominator:

 
      
 

Basic weighted average number of shares outstanding

 
     96,068        74,767        67,569   
 

Effect of dilutive potential shares

 
     837        1,767          
    

 

 
 

 

 
     

 

 
 

 

 
     

 

 
 

 

 
 
 

Diluted weighted average number of shares outstanding

 
     96,905        76,534        67,569   
    

 

 
 

 

 
     

 

 
 

 

 
     

 

 
 

 

 
 
 

Net loss per share:

 
      
 

Basic

 
   $ (0.58   $ (0.52   $ (0.64
 

Diluted

 
   $ (0.61   $ (0.61   $ (0.64

The table below presents

shares underlying stock options, employee stock purchase plan

rights, warrants, restricted stock units and/or convertible

preferred stock that were excluded from the calculation of the

weighted average number of shares outstanding used for the

calculation of diluted net loss per share. These were excluded from

the calculation due to their anti-dilutive effect for the years

ended December 31, 2015, 2014 and 2013 (shares in

thousands):

 

     Year Ended December 31,  
      2015      2014      2013  
 

Weighted average number of anti-dilutive potential shares

 
        
 

Outstanding options

 
     13,681         11,722         10,296   
 

Warrants

 
                     6,074   
    

 

 
 

 

 
      

 

 
 

 

 
      

 

 
 

 

 
 
 

Total

 
     13,681         11,722         16,370