Cerus reported product revenue of $57.8 million for the fourth quarter of 2025, a 14% increase from $50.8 million in the same period a year earlier. The growth was driven by a 12% rise in the combined platelets, plasma, and other product segment, which generated $53.6 million versus $47.8 million in Q4 2024, and a 40% jump in INTERCEPT Fibrinogen Complex (IFC) revenue, which reached $4.2 million from $3.0 million a year ago. IFC revenue is expected to reach $20 million to $22 million in 2026, representing a 20% to 30% year‑over‑year increase.
Cerus’ full‑year 2025 product revenue totaled $206.1 million, up 14% from $180.3 million in 2024. IFC accounted for $16.7 million of that total, an 80% increase over the $9.2 million reported in 2024, underscoring the product’s role as a key growth driver for the company.
The company guided 2026 product revenue to $224 million to $228 million, a 9% to 11% year‑over‑year rise. IFC guidance for 2026 is $20 million to $22 million, a 20% to 30% increase, reflecting management’s confidence in continued demand and the expansion of the company’s commercial reach.
CEO William "Obi" Greenman said 2025 was a remarkable year, noting that the company helped blood‑center customers produce approximately 3 million INTERCEPT‑treated blood component doses in about 40 countries. He added that 2026 will be rich in milestones, with continued expansion of commercial reach, advancement of the product development pipeline, and improvement in financial performance.
Cerus’ INTERCEPT Blood System is designed to reduce transfusion‑transmitted infections, and its IFC product treats bleeding associated with fibrinogen deficiency. The company is under regulatory review in Europe and has a positive non‑GAAP EBITDA in 2024. Product gross margin was 53.4% in Q3 2025, and the company emphasizes cost control and strategic investments to sustain growth.
Cerus will discuss the full audited results in an earnings call scheduled for early March 2026.
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