EarningsQ2 2026 Earnings Report
DE:CU2 Q2 2026 EPS Results
Actual EPS>-€0.01
Consensus EPS-€0.01
Beat/MissBeat by +<€0.01
One Year Ago EPS-€0.03
DE:CU2 Q2 2026 Revenue Results
Actual Revenue€51.25M
Expected Revenue€56.12M
Beat/MissMissed by -€4.87M
YoY Revenue Growth+9.53%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
DE:CU2 Upcoming Earnings
Cerus's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:CU2 Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed predominantly positive momentum: double-digit product revenue growth, raised product and IFC guidance, consecutive quarters of positive adjusted EBITDA, meaningful debt refinancing benefits, regulatory progress (PMA submission and upcoming Phase 3 readout), and a clean quality audit. Counterbalancing items include a drop in gross margin (51.4% vs 55.2% prior year) driven by currency and inflationary pressures, reduced government contract revenue this quarter, modest operating cash use for inventory, and regulatory/penetration challenges in Asia-Pacific and for broader IFC adoption. On balance the positives (top-line growth, improving profitability measures, stronger balance sheet flexibility, and regulatory/clinical progress) outweigh the near-term headwinds.Company Guidance
Top-line Product Revenue Growth
Product revenue of $57.4M in Q2 2026, up 10% year-over-year. First half 2026 product revenue rose 16% to $111.1M from $95.7M in H1 2025. North American product revenue grew 9% YoY; EMEA product revenue grew 10% YoY (with ~2% tailwind from favorable FX).
IFC (Fibrinogen) Strong Momentum and Guidance Raise
IFC revenue in Q2 2026 was $6.7M, up ~20% reported vs $5.6M in Q2 2025. Excluding ~$0.8M of previously deferred revenue recognized in Q2 2025, IFC revenue growth would be ~40% with demand up ~43%. Company raised full-year IFC revenue guidance to $23–25M (from $22–24M), implying ~40–50% growth for IFC in 2026.
Full-Year Product Revenue Guidance Raised
Raised the low end of full-year 2026 product revenue guidance to $229–231M (previously $227–231M), representing total year-over-year product revenue growth of ~11–12% vs 2025.
Sustained Profitability Trajectory (Non-GAAP)
GAAP net loss improved to $2.9M in Q2 2026 versus a $5.7M net loss in Q2 2025. Non-GAAP adjusted EBITDA was $3.0M in Q2 — the ninth consecutive quarter of positive adjusted EBITDA — and company expects a third consecutive year of positive adjusted EBITDA in 2026.
Debt Refinancing and Lower Cost of Capital
Completed refinancing that reduced term loan balance by $30M ($20M from cash, $10M from revolver), expanded revolver capacity and optional term debt, eliminated prepayment fees after year one, and is expected to reduce annual interest expense by up to $3.5M.
Regulatory and R&D Progress
Submitted PMA for the INT200 illuminator for platelets to the U.S. FDA (potential approval as early as H1 2027). Phase 3 RedeS top-line results for INTERCEPT RBC expected in Q4 2026. BARDA 2024 contract increased by nearly $22M (from ~$249M to just over $270M) to support U.S. PMA-related activities.
Quality and Certifications Maintained
Completed Notified Body Recertification Audit with zero nonconformities, maintaining CE and MDSAP certifications — a positive validation of the company's quality systems.
Commercial Validation and Market Wins
Signed a new multiyear contract with the French Blood Establishment (EFS). IFC nationwide market share estimated at ~10% with notable hospital-level adoptions (example: a major Northeast academic hospital adopted IFC 100% after direct comparison). Shift toward kit model (70% of IFC shipments in Q2) expected to continue with full migration to kits targeted for 2027, which should improve gross margins over time.
DE:CU2 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed