$CERS
CERUS CORP

2024 Q2 Form 10-Q Financial Statement

#000095017024052296 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $50.52M $43.40M
YoY Change 5.85% 12.78%
Cost Of Revenue $20.41M $17.09M
YoY Change 16.55% 24.88%
Gross Profit $30.11M $26.30M
YoY Change -0.35% 6.1%
Gross Profit Margin 59.59% 60.61%
Selling, General & Admin $18.97M $19.80M
YoY Change -7.63% -8.13%
% of Gross Profit 63.02% 75.28%
Research & Development $14.97M $14.48M
YoY Change -21.97% -16.69%
% of Gross Profit 49.72% 55.06%
Depreciation & Amortization $480.0K $631.0K
YoY Change -25.0% -0.63%
% of Gross Profit 1.59% 2.4%
Operating Expenses $33.94M $34.28M
YoY Change -14.56% -11.95%
Operating Profit -$3.836M -$7.979M
YoY Change -59.67% -43.6%
Interest Expense $2.330M $2.234M
YoY Change 6.83% 38.59%
% of Operating Profit
Other Income/Expense, Net -$1.995M -$1.637M
YoY Change 25.24% 15.44%
Pretax Income -$5.831M -$9.616M
YoY Change -55.94% -38.22%
Income Tax -$56.00K $74.00K
% Of Pretax Income
Net Earnings -$5.775M -$9.688M
YoY Change -56.5% -37.97%
Net Earnings / Revenue -11.43% -22.33%
Basic Earnings Per Share -$0.03 -$0.05
Diluted Earnings Per Share -$0.03 -$0.05
COMMON SHARES
Basic Shares Outstanding 184.9M 181.3M
Diluted Shares Outstanding 185.0M 182.1M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.19M $72.18M
YoY Change -15.75% -23.77%
Cash & Equivalents $12.40M $20.53M
Short-Term Investments $58.79M $51.65M
Other Short-Term Assets $3.806M $3.594M
YoY Change 4.27% -36.73%
Inventory $36.29M $39.86M
Prepaid Expenses
Receivables $23.74M $22.54M
Other Receivables $0.00 $0.00
Total Short-Term Assets $135.0M $138.2M
YoY Change -10.54% -14.82%
LONG-TERM ASSETS
Property, Plant & Equipment $7.781M $8.099M
YoY Change -65.45% -25.22%
Goodwill $1.316M $1.316M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.28M $11.71M
YoY Change -44.87% -43.92%
Total Long-Term Assets $50.47M $50.97M
YoY Change 5.3% 8.16%
TOTAL ASSETS
Total Short-Term Assets $135.0M $138.2M
Total Long-Term Assets $50.47M $50.97M
Total Assets $185.5M $189.1M
YoY Change -6.72% -9.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.74M $16.62M
YoY Change -69.56% -54.4%
Accrued Expenses $15.05M $16.15M
YoY Change 591.54% -16.24%
Deferred Revenue $1.096M $2.167M
YoY Change -19.47% 28.0%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $18.78M $20.12M
YoY Change 13.54% 11.78%
Total Short-Term Liabilities $53.88M $57.25M
YoY Change -28.23% -26.2%
LONG-TERM LIABILITIES
Long-Term Debt $64.84M $64.83M
YoY Change 18.24% 18.24%
Other Long-Term Liabilities $3.620M $3.434M
YoY Change -79.02% 42.25%
Total Long-Term Liabilities $3.620M $3.434M
YoY Change -94.98% 42.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.88M $57.25M
Total Long-Term Liabilities $3.620M $3.434M
Total Liabilities $135.2M $139.0M
YoY Change -8.68% -7.21%
SHAREHOLDERS EQUITY
Retained Earnings -$1.060B -$1.054B
YoY Change 2.32% 3.09%
Common Stock $1.110B $1.105B
YoY Change 1.94% 1.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $49.51M $49.37M
YoY Change
Total Liabilities & Shareholders Equity $185.5M $189.1M
YoY Change -6.72% -9.65%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$5.775M -$9.688M
YoY Change -56.5% -37.97%
Depreciation, Depletion And Amortization $480.0K $631.0K
YoY Change -25.0% -0.63%
Cash From Operating Activities $401.0K $1.959M
YoY Change -104.46% -123.05%
INVESTING ACTIVITIES
Capital Expenditures $41.00K $1.099M
YoY Change -90.77% -27.89%
Acquisitions
YoY Change
Other Investing Activities -$7.066M $2.545M
YoY Change -354.81% -2186.07%
Cash From Investing Activities -$7.107M $1.446M
YoY Change -405.15% -187.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.597M 5.561M
YoY Change -5069.36% 169.82%
NET CHANGE
Cash From Operating Activities 401.0K 1.959M
Cash From Investing Activities -7.107M 1.446M
Cash From Financing Activities 8.597M 5.561M
Net Change In Cash 1.891M 8.876M
YoY Change -127.65% -211.38%
FREE CASH FLOW
Cash From Operating Activities $401.0K $1.959M
Capital Expenditures $41.00K $1.099M
Free Cash Flow $360.0K $860.0K
YoY Change -103.81% -108.58%

Facts In Submission

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CERUS CORPORATION
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CY2024Q1 dei Entity Tax Identification Number
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562000
CY2024Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
2664000
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
440000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1446000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1646000
CY2024Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
441000
CY2023Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
492000
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-72000
CY2024Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
120000
CY2023Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
3091000
CY2024Q1 cers Proceeds From Loans Net Of Issuance Costs
ProceedsFromLoansNetOfIssuanceCosts
5000000
CY2023Q1 cers Proceeds From Loans Net Of Issuance Costs
ProceedsFromLoansNetOfIssuanceCosts
-1450000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5561000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
2061000
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-90000
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
116000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8876000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7969000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13359000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37358000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
22235000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29389000
CY2024Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
59702000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="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="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-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>
CY2024Q1 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.
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="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="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-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="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-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 March 31, 2024, 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="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-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="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-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;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">three</span><span style="color:#000000;white-space:pre-wrap;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-size:10pt;font-family:Times New Roman;min-width:fit-content;">March 31, 2024 and December 31, 2023</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">51</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the Company’s outstanding trade receivables at both </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">March 31, 2024 and December 31, 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. To date, the Company has not experienced collection difficulties from these customers.</span></p>
CY2024Q1 cers Cumulative Outstanding Account Receivable Number Of Major Customers
CumulativeOutstandingAccountReceivableNumberOfMajorCustomers
2
CY2023Q4 cers Cumulative Outstanding Account Receivable Number Of Major Customers
CumulativeOutstandingAccountReceivableNumberOfMajorCustomers
3
CY2024Q1 cers Inventory Life Finished Goods Shelf Life Period
InventoryLifeFinishedGoodsShelfLifePeriod
P12M
CY2024Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1100000
CY2023Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
700000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
60456000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
26000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1215000
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
60731000
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3000
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1032000
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
26269000
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24772000
CY2024Q1 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<p style="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="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-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="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-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-size:10pt;font-family:Times New Roman;min-width:fit-content;">one-year</span></span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;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-size:10pt;font-family:Times New Roman;min-width:fit-content;">March 31, 2024 and December 31, 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">.</span></p>
CY2024Q1 cers Product Warranty Term
ProductWarrantyTerm
P1Y
CY2024Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
0
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
0
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8883000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11822000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3375000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3139000
CY2023Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
59267000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
44417000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
43861000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
42598000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
41789000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
16314000
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
15841000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
17858000
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
17478000
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
60731000
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
59702000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
60456000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
59267000
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
9932000
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
77000
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
39953000
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
955000
CY2024Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
49885000
CY2024Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
1032000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
6563000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
38000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
43285000
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1177000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
49848000
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
1215000
CY2024Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2024Q1 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
59702000
CY2023Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
59267000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3896000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4264000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16154000
CY2024Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
12365000
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
13680000
CY2024Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
22638000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
20668000
CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
22772000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
25021000
CY2024Q1 cers Inventory Current And Noncurrent
InventoryCurrentAndNoncurrent
57775000
CY2023Q4 cers Inventory Current And Noncurrent
InventoryCurrentAndNoncurrent
59369000
CY2024Q1 us-gaap Inventory Noncurrent
InventoryNoncurrent
17913000
CY2023Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
19501000
CY2024Q1 us-gaap Inventory Net
InventoryNet
39862000
CY2023Q4 us-gaap Inventory Net
InventoryNet
39868000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
19225000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
85120000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
174000
CY2024Q1 us-gaap Secured Debt
SecuredDebt
84946000
CY2024Q1 cers Debt Instrument Carrying Current
DebtInstrumentCarryingCurrent
20120000
CY2024Q1 us-gaap Secured Debt Current
SecuredDebtCurrent
20120000
CY2024Q1 cers Debt Instrument Carrying Non Current
DebtInstrumentCarryingNonCurrent
65000000
CY2024Q1 cers Debt Instrument Unamortized Noncurrent
DebtInstrumentUnamortizedNoncurrent
174000
CY2024Q1 us-gaap Secured Long Term Debt
SecuredLongTermDebt
64826000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
80000000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
204000
CY2023Q4 us-gaap Secured Debt
SecuredDebt
79796000
CY2023Q4 cers Debt Instrument Carrying Current
DebtInstrumentCarryingCurrent
20000000
CY2023Q4 us-gaap Secured Debt Current
SecuredDebtCurrent
20000000
CY2023Q4 cers Debt Instrument Carrying Non Current
DebtInstrumentCarryingNonCurrent
60000000
CY2023Q4 cers Debt Instrument Unamortized Noncurrent
DebtInstrumentUnamortizedNoncurrent
204000
CY2023Q4 us-gaap Secured Long Term Debt
SecuredLongTermDebt
59796000
CY2024Q1 cers Minimum Term Of Non Cancelable Operating Leases
MinimumTermOfNonCancelableOperatingLeases
P1Y
CY2024Q1 cers Expiration Of Non Cancelable Operating Leases Maximum Year
ExpirationOfNonCancelableOperatingLeasesMaximumYear
2030
CY2024Q1 us-gaap Net Rentable Area
NetRentableArea
15000
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
968000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
934000
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
140000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
245000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2714000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3314000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3162000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3455000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3255000
CY2024Q1 cers Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4172000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
20072000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4415000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
15657000
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
964000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
773000
CY2024Q1 us-gaap Lessor Operating Lease Lease Not Yet Commenced Description
LessorOperatingLeaseLeaseNotYetCommencedDescription
the Company had no leases that have not yet commenced.
CY2024Q1 cers Short Term Purchase Commitment Amount
ShortTermPurchaseCommitmentAmount
26800000
CY2024Q1 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
3000000
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1

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