$CERS
Cerus Corp

2023 Q4 Form 10-Q Financial Statement

#000095017023058320 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $53.34M $47.25M
YoY Change 3.94% 1.96%
Cost Of Revenue $20.81M $17.96M
YoY Change 6.72% 1.69%
Gross Profit $32.53M $29.30M
YoY Change 2.23% 2.16%
Gross Profit Margin 60.99% 62.01%
Selling, General & Admin $17.27M $16.16M
YoY Change -25.44% -18.85%
% of Gross Profit 53.08% 55.14%
Research & Development $14.29M $16.78M
YoY Change -23.24% 3.47%
% of Gross Profit 43.92% 57.28%
Depreciation & Amortization $647.0K $670.0K
YoY Change -0.31% -5.37%
% of Gross Profit 1.99% 2.29%
Operating Expenses $31.56M $34.54M
YoY Change -24.46% -4.4%
Operating Profit $976.0K -$5.243M
YoY Change -109.81% -29.6%
Interest Expense -$2.899M $2.364M
YoY Change 25.01% 68.14%
% of Operating Profit -297.03%
Other Income/Expense, Net $606.0K -$1.965M
YoY Change -155.7% 95.13%
Pretax Income -$1.317M -$7.208M
YoY Change -90.14% -14.74%
Income Tax $72.00K $78.00K
% Of Pretax Income
Net Earnings -$1.328M -$7.267M
YoY Change -90.25% -14.32%
Net Earnings / Revenue -2.49% -15.38%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share -$0.01 -$0.04
COMMON SHARES
Basic Shares Outstanding 181.2M 180.8M
Diluted Shares Outstanding 180.9M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.85M $79.01M
YoY Change -35.54% -23.91%
Cash & Equivalents $11.65M $17.39M
Short-Term Investments $54.21M $61.62M
Other Short-Term Assets $3.221M $3.400M
YoY Change -29.38% -23.15%
Inventory $39.87M $42.66M
Prepaid Expenses
Receivables $35.50M $24.55M
Other Receivables $0.00 $0.00
Total Short-Term Assets $144.4M $150.9M
YoY Change -15.11% -8.37%
LONG-TERM ASSETS
Property, Plant & Equipment $8.640M $9.252M
YoY Change -21.23% -13.1%
Goodwill $1.316M $1.316M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.43M $10.25M
YoY Change -46.56% -56.95%
Total Long-Term Assets $53.31M $54.91M
YoY Change 11.18% 8.36%
TOTAL ASSETS
Total Short-Term Assets $144.4M $150.9M
Total Long-Term Assets $53.31M $54.91M
Total Assets $197.7M $205.8M
YoY Change -9.33% -4.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $23.84M $38.52M
YoY Change -27.76% 29.19%
Accrued Expenses $19.23M $19.62M
YoY Change -23.72% -2.19%
Deferred Revenue $2.002M $936.0K
YoY Change 239.9% 24.14%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $20.00M $18.80M
YoY Change -64.39% -55.64%
Total Short-Term Liabilities $67.52M $80.12M
YoY Change -42.32% -15.68%
LONG-TERM LIABILITIES
Long-Term Debt $59.80M $59.80M
YoY Change 338.26% 118.59%
Other Long-Term Liabilities $3.236M $2.827M
YoY Change -7.52% -13.04%
Total Long-Term Liabilities $3.236M $2.827M
YoY Change -7.52% -13.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $67.52M $80.12M
Total Long-Term Liabilities $3.236M $2.827M
Total Liabilities $144.3M $156.8M
YoY Change -3.49% 10.96%
SHAREHOLDERS EQUITY
Retained Earnings -$1.045B -$1.043B
YoY Change 3.72% 5.01%
Common Stock $1.099B $1.094B
YoY Change 1.95% 2.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $52.65M $48.17M
YoY Change
Total Liabilities & Shareholders Equity $197.7M $205.8M
YoY Change -9.33% -4.44%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.328M -$7.267M
YoY Change -90.25% -14.32%
Depreciation, Depletion And Amortization $647.0K $670.0K
YoY Change -0.31% -5.37%
Cash From Operating Activities -$15.18M -$10.49M
YoY Change 764.64% 409.72%
INVESTING ACTIVITIES
Capital Expenditures -$6.000K $2.630M
YoY Change -100.49% -558.19%
Acquisitions
YoY Change
Other Investing Activities $8.210M $2.360M
YoY Change -4.73% -258.18%
Cash From Investing Activities $8.216M -$270.0K
YoY Change 11.28% -86.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.183M 7.600M
YoY Change 158.86% 601.11%
NET CHANGE
Cash From Operating Activities -15.18M -10.49M
Cash From Investing Activities 8.216M -270.0K
Cash From Financing Activities 1.183M 7.600M
Net Change In Cash -5.784M -3.160M
YoY Change -195.07% 3.95%
FREE CASH FLOW
Cash From Operating Activities -$15.18M -$10.49M
Capital Expenditures -$6.000K $2.630M
Free Cash Flow -$15.18M -$13.12M
YoY Change 407.42% 784.1%

Facts In Submission

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CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3979000
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
208000
CY2023Q3 us-gaap Profit Loss
ProfitLoss
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CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
49023000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
85617000
CY2022Q1 cers Issuance Of Common Stock From Exercise Of Stock Options Or Warrants And Vesting Of Restricted Stock Units And Employee Stock Purchase Plans Purchases Value
IssuanceOfCommonStockFromExerciseOfStockOptionsOrWarrantsAndVestingOfRestrictedStockUnitsAndEmployeeStockPurchasePlansPurchasesValue
2138000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6426000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2022Q1 us-gaap Profit Loss
ProfitLoss
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CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
80411000
CY2022Q2 cers Issuance Of Common Stock From Exercise Of Stock Options Or Warrants And Vesting Of Restricted Stock Units Value
IssuanceOfCommonStockFromExerciseOfStockOptionsOrWarrantsAndVestingOfRestrictedStockUnitsValue
256000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5007000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-518000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-8395000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
76761000
CY2022Q3 cers Issuance Of Common Stock From Exercise Of Stock Options Or Warrants And Vesting Of Restricted Stock Units And Employee Stock Purchase Plans Purchases Value
IssuanceOfCommonStockFromExerciseOfStockOptionsOrWarrantsAndVestingOfRestrictedStockUnitsAndEmployeeStockPurchasePlansPurchasesValue
1101000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5768000
CY2022Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1036000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
-8521000
CY2022Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
74073000
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2335000
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
17201000
cers Non Cash Operating Lease Cost
NonCashOperatingLeaseCost
-1563000
cers Non Cash Operating Lease Cost
NonCashOperatingLeaseCost
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us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
245000
us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
-50000
us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
-102000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
1000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
484000
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
542000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1698000
cers Non Cash Interest Expense
NonCashInterestExpense
290000
cers Non Cash Interest Expense
NonCashInterestExpense
474000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
1396000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-540000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3168000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
19519000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2519000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1509000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1509000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
8089000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-5370000
cers Increase Decrease In Accrued Liabilities And Other Noncurrent Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherNoncurrentLiabilities
-8346000
cers Increase Decrease In Accrued Liabilities And Other Noncurrent Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherNoncurrentLiabilities
-7175000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
347000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
81000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-27985000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-23859000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4603000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
765000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
2404000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
22657000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
7415000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
24503000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
408000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1081000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
925000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
3594000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-137000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-42000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
3870000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
183000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
5000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
168000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9490000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3735000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-112000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1128000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-18199000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-20171000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37358000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51044000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19159000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30873000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements requires management to make estimates, assumptions and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosures of contingent assets and liabilities. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, the collectability of accounts receivable, inventory classification and related reserves, fair values of investments, the allowance for credit losses, stock-based compensation, goodwill, useful lives of property and equipment, income taxes, and incremental borrowing rate, among others. The Company bases its estimates on historical experience, future projections, and on various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from those estimates under different assumptions or conditions.</span></p>
us-gaap Revenue Performance Obligation Description Of Payment Terms
RevenuePerformanceObligationDescriptionOfPaymentTerms
The Company invoices its customers based upon the terms in the contracts, which generally require payment 30 to 60 days from the date of invoice.
us-gaap Revenue Practical Expedient Remaining Performance Obligation
RevenuePracticalExpedientRemainingPerformanceObligation
true
CY2022Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, available-for-sale securities and accounts receivable.</span></p><p style="text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Pursuant to the Company’s investment policy, substantially all of the Company’s cash, cash equivalents and available-for-sale securities are maintained at major financial institutions of high credit standing. The Company monitors the financial credit worthiness of the issuers of its investments and limits the concentration in individual securities and types of investments that exist within its investment portfolio. Generally, all of the Company’s investments carry high credit quality ratings, which is in accordance with its investment policy. At September 30, 2023, the Company does not believe there is significant financial risk from non-performance by the issuers of the Company’s cash equivalents and short-term investments.</span></p><p style="text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On a regular basis, including at the time of sale, the Company performs credit evaluations of its significant customers that it expects to sell to on credit terms. Generally, the Company does not require collateral from its customers to secure accounts receivable. To the extent that the Company determines credit losses may occur, the Company maintains an allowance for estimated credit losses on its consolidated balance sheets and records a charge on its consolidated statements of operations as a component of selling, general and administrative expenses.</span></p><p style="text-indent:0;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customers that accounted for more than 10% of the Company’s outstanding accounts receivable at </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 30, 2023 and December 31, 2022</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, respectively. These customers cumulatively represented approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">50</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">49</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the Company’s outstanding trade receivables at </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 30, 2023 and December 31, 2022</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, respectively. To date, the Company has not experienced collection difficulties from these customers.</span></p>
CY2022Q4 cers Cumulative Outstanding Account Receivable Number Of Major Customers
CumulativeOutstandingAccountReceivableNumberOfMajorCustomers
2
CY2023Q3 cers Cumulative Outstanding Account Receivable Number Of Major Customers
CumulativeOutstandingAccountReceivableNumberOfMajorCustomers
2
cers Inventory Life Finished Goods Shelf Life Period
InventoryLifeFinishedGoodsShelfLifePeriod
P6M
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1100000
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
700000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
81041000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
83828000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
50000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2837000
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25636000
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24391000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25660000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
23945000
us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<p style="text-indent:0;font-size:10pt;margin-top:2pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Guarantee and Indemnification Arrangements</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company recognizes the fair value for guarantee and indemnification arrangements issued or modified by the Company. In addition, the Company monitors the conditions that are subject to the guarantees and indemnifications in order to identify if a loss has occurred. If the Company determines it is probable that a loss has occurred, then any such estimable loss would be recognized under those guarantees and indemnifications. Some of the agreements that the Company is a party to contain provisions that indemnify the counter party from damages and costs resulting from claims that the Company’s technology infringes the intellectual property rights of a third-party or claims that the sale or use of the Company’s products have caused personal injury or other damage or loss. The Company has not received any such requests for indemnification under these provisions and has not been required to make material payments pursuant to these provisions.</span></p><p style="text-indent:0;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company generally provides for a </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">one-year</span></span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> warranty on certain of its disposable kits and illuminators covering defects in materials and workmanship. The Company accrues costs associated with warranty obligations when claims become known and are estimable. The Company has </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">t experienced significant or systemic warranty claims nor is it aware of any existing current warranty claims. Accordingly, the Company had not accrued for any future warranty costs for its products at </span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 30, 2023 and December 31, 2022</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">.</span></p>
cers Product Warranty Term
ProductWarrantyTerm
P1Y
CY2023Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
0
CY2022Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
0
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
67911000
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2124000
CY2023Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
65787000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
30414000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
29797000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
28284000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
27907000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
37497000
CY2023Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
35990000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
55544000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
53134000
CY2023Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
67911000
CY2023Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
65787000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
83828000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
81041000
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
10753000
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
175000
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
50864000
CY2023Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1949000
CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
61617000
CY2023Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
2124000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
28094000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
876000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
32828000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1961000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
60922000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
2837000
CY2023Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2022Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
100000
us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
100000
CY2023Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
15432000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
12051000
CY2023Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
21517000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
16078000
CY2023Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
26999000
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
16368000
CY2023Q3 cers Inventory Current And Noncurrent
InventoryCurrentAndNoncurrent
63948000
CY2022Q4 cers Inventory Current And Noncurrent
InventoryCurrentAndNoncurrent
44497000
CY2023Q3 us-gaap Inventory Noncurrent
InventoryNoncurrent
21287000
CY2022Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
15494000
CY2023Q3 us-gaap Inventory Net
InventoryNet
42661000
CY2022Q4 us-gaap Inventory Net
InventoryNet
29003000
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10718000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
17577000
CY2023Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3401000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2581000
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5501000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
5045000
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
19620000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
25203000
CY2023Q3 us-gaap Restructuring Charges
RestructuringCharges
1600000
us-gaap Restructuring Charges
RestructuringCharges
3700000
cers Restructuing Charges Net Of Share Based Arrangement Expense
RestructuingChargesNetOfShareBasedArrangementExpense
2026000
us-gaap Payments For Restructuring
PaymentsForRestructuring
1586000
CY2023Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
440000
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
78779000
CY2023Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
211000
CY2023Q3 us-gaap Secured Debt
SecuredDebt
78568000
CY2023Q3 cers Debt Instrument Carrying Current
DebtInstrumentCarryingCurrent
18779000
CY2023Q3 us-gaap Secured Debt Current
SecuredDebtCurrent
18779000
CY2023Q3 cers Debt Instrument Carrying Non Current
DebtInstrumentCarryingNonCurrent
60000000
CY2023Q3 cers Debt Instrument Unamortized Noncurrent
DebtInstrumentUnamortizedNoncurrent
211000
CY2023Q3 us-gaap Secured Long Term Debt
SecuredLongTermDebt
59789000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
69909000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
106000
CY2022Q4 us-gaap Secured Debt
SecuredDebt
69803000
CY2022Q4 cers Debt Instrument Carrying Current
DebtInstrumentCarryingCurrent
56159000
CY2022Q4 us-gaap Secured Debt Current
SecuredDebtCurrent
56159000
CY2022Q4 cers Debt Instrument Carrying Non Current
DebtInstrumentCarryingNonCurrent
13750000
CY2022Q4 cers Debt Instrument Unamortized Noncurrent
DebtInstrumentUnamortizedNoncurrent
106000
CY2022Q4 us-gaap Secured Long Term Debt
SecuredLongTermDebt
13644000
cers Minimum Term Of Non Cancelable Operating Leases
MinimumTermOfNonCancelableOperatingLeases
P1Y
cers Expiration Of Non Cancelable Operating Leases Maximum Year
ExpirationOfNonCancelableOperatingLeasesMaximumYear
2030
CY2023Q3 us-gaap Net Rentable Area
NetRentableArea
15000
CY2023Q3 cers Loss On Restructuring Charges
LossOnRestructuringCharges
1600000
us-gaap Operating Lease Payments
OperatingLeasePayments
3257000
us-gaap Operating Lease Payments
OperatingLeasePayments
2491000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1099000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1354000
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M12D
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.086
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.084
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
886000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3472000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3100000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3085000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3382000
CY2023Q3 cers Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
7420000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21345000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4994000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
16351000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
877000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
837000
us-gaap Operating Lease Cost
OperatingLeaseCost
2595000
us-gaap Operating Lease Cost
OperatingLeaseCost
2406000
us-gaap Lessor Operating Lease Lease Not Yet Commenced Description
LessorOperatingLeaseLeaseNotYetCommencedDescription
the Company had no leases that have not yet commenced.
CY2023Q3 cers Short Term Purchase Commitment Amount
ShortTermPurchaseCommitmentAmount
12100000
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
5500000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
ecd Trd Arr Adoption Date
TrdArrAdoptionDate
September 15, 2023
ecd Trd Arr Ind Name
TrdArrIndName
Kevin Green
ecd Trd Arr Ind Title
TrdArrIndTitle
Vice President, Finance and Chief Financial Officer
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
CY2023Q3 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
45423

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