$CERS
CERUS CORP

2024 Q4 Form 10-Q Financial Statement

#000095017024119535 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $50.66M
YoY Change 7.21%
Cost Of Revenue $19.82M
YoY Change 10.35%
Gross Profit $30.84M
YoY Change 5.25%
Gross Profit Margin 60.88%
Selling, General & Admin $17.79M
YoY Change 10.1%
% of Gross Profit 57.68%
Research & Development $14.01M
YoY Change -16.5%
% of Gross Profit 45.44%
Depreciation & Amortization $412.0K
YoY Change -38.51%
% of Gross Profit 1.34%
Operating Expenses $31.80M
YoY Change -7.93%
Operating Profit -$961.0K
YoY Change -81.67%
Interest Expense -$2.501M
YoY Change -205.8%
% of Operating Profit
Other Income/Expense, Net -$1.897M
YoY Change -3.46%
Pretax Income -$2.858M
YoY Change -60.35%
Income Tax $76.00K
% Of Pretax Income
Net Earnings -$2.934M
YoY Change -59.63%
Net Earnings / Revenue -5.79%
Basic Earnings Per Share -$0.02
Diluted Earnings Per Share -$0.02
COMMON SHARES
Basic Shares Outstanding 185.7M 185.3M
Diluted Shares Outstanding 185.4M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.57M
YoY Change -4.36%
Cash & Equivalents $21.58M
Short-Term Investments $53.99M
Other Short-Term Assets $4.148M
YoY Change 22.0%
Inventory $36.54M
Prepaid Expenses
Receivables $24.36M
Other Receivables $0.00
Total Short-Term Assets $140.6M
YoY Change -6.84%
LONG-TERM ASSETS
Property, Plant & Equipment $7.437M
YoY Change -19.62%
Goodwill $1.316M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $14.79M
YoY Change 44.27%
Total Long-Term Assets $48.93M
YoY Change -10.89%
TOTAL ASSETS
Total Short-Term Assets $140.6M
Total Long-Term Assets $48.93M
Total Assets $189.5M
YoY Change -7.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.86M
YoY Change -58.82%
Accrued Expenses $15.88M
YoY Change -19.07%
Deferred Revenue $1.821M
YoY Change 94.55%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $18.52M
YoY Change -1.48%
Total Short-Term Liabilities $54.35M
YoY Change -32.17%
LONG-TERM LIABILITIES
Long-Term Debt $64.85M
YoY Change 8.44%
Other Long-Term Liabilities $3.796M
YoY Change 34.28%
Total Long-Term Liabilities $3.796M
YoY Change 34.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.35M
Total Long-Term Liabilities $3.796M
Total Liabilities $135.3M
YoY Change -13.75%
SHAREHOLDERS EQUITY
Retained Earnings -$1.063B
YoY Change 1.89%
Common Stock $1.117B
YoY Change 2.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $53.49M
YoY Change
Total Liabilities & Shareholders Equity $189.5M
YoY Change -7.92%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$2.934M
YoY Change -59.63%
Depreciation, Depletion And Amortization $412.0K
YoY Change -38.51%
Cash From Operating Activities $4.070M
YoY Change -138.8%
INVESTING ACTIVITIES
Capital Expenditures $721.0K
YoY Change -72.59%
Acquisitions
YoY Change
Other Investing Activities $5.538M
YoY Change 134.66%
Cash From Investing Activities $4.817M
YoY Change -1884.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 60.00K
YoY Change -99.21%
NET CHANGE
Cash From Operating Activities 4.070M
Cash From Investing Activities 4.817M
Cash From Financing Activities 60.00K
Net Change In Cash 8.947M
YoY Change -383.13%
FREE CASH FLOW
Cash From Operating Activities $4.070M
Capital Expenditures $721.0K
Free Cash Flow $3.349M
YoY Change -125.53%

Facts In Submission

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StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
59562000
CY2023Q2 cers Issuance Of Common Stock From Vesting Of Restricted Stock Units Value
IssuanceOfCommonStockFromVestingOfRestrictedStockUnitsValue
-69000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5720000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-192000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-13331000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
51690000
CY2023Q3 cers Issuance Of Common Stock From Vesting Of Restricted Stock Units And Employee Stock Purchase Plans Purchases Value
IssuanceOfCommonStockFromVestingOfRestrictedStockUnitsAndEmployeeStockPurchasePlansPurchasesValue
432000
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
-7286000
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
49023000
us-gaap Profit Loss
ProfitLoss
-18399000
us-gaap Profit Loss
ProfitLoss
-36258000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1523000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1952000
us-gaap Share Based Compensation
ShareBasedCompensation
17363000
us-gaap Share Based Compensation
ShareBasedCompensation
15368000
cers Non Cash Operating Lease Cost
NonCashOperatingLeaseCost
-1929000
cers Non Cash Operating Lease Cost
NonCashOperatingLeaseCost
-1563000
us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
-4000
us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
-50000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
218000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
1000
us-gaap Gain Loss On Sale Of Other Assets
GainLossOnSaleOfOtherAssets
-3000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1698000
cers Non Cash Interest Expense
NonCashInterestExpense
297000
cers Non Cash Interest Expense
NonCashInterestExpense
290000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
141000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
1396000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-11128000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-9687000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-8020000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
19519000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2188000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1509000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-7825000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
8089000
cers Increase Decrease In Accrued Liabilities And Other Noncurrent Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherNoncurrentLiabilities
-4886000
cers Increase Decrease In Accrued Liabilities And Other Noncurrent Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherNoncurrentLiabilities
-8346000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-180000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
347000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6430000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-27985000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1861000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4603000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
18741000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
2404000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
19758000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
7415000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-844000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
408000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
804000
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 Common Stock
ProceedsFromIssuanceOfCommonStock
-107000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-137000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-1479000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
3870000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
5000000
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
4218000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9490000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-112000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
9850000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-18199000
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
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23209000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19159000
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>
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 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 September 30, 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;">one</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;"> customer(s) 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;">September 30, 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;">35</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;">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 </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">September 30, 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. To date, the Company has not experienced collection difficulties from these customers.</span></p>
CY2024Q3 cers Cumulative Outstanding Account Receivable Number Of Major Customers
CumulativeOutstandingAccountReceivableNumberOfMajorCustomers
1
CY2023Q4 cers Cumulative Outstanding Account Receivable Number Of Major Customers
CumulativeOutstandingAccountReceivableNumberOfMajorCustomers
3
cers Inventory Life Finished Goods Shelf Life Period
InventoryLifeFinishedGoodsShelfLifePeriod
P12M
CY2024Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
700000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
700000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27507000
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25636000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
27510000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25660000
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;">September 30, 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>
cers Product Warranty Term
ProductWarrantyTerm
P1Y
CY2024Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
0
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
0
CY2024Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
61653000
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
250000
CY2024Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
274000
CY2024Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
61629000
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
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
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
38752000
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
38717000
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
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
22901000
CY2024Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
22912000
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
CY2024Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
61653000
CY2024Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
61629000
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
60456000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
59267000
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
944000
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
2000
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
26549000
CY2024Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
272000
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
27493000
CY2024Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
274000
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
CY2024Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2023Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2024Q3 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
61629000
CY2023Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
59267000
CY2024Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
8664000
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
13680000
CY2024Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
23666000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
20668000
CY2024Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
19019000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
25021000
CY2024Q3 cers Inventory Current And Noncurrent
InventoryCurrentAndNoncurrent
51349000
CY2023Q4 cers Inventory Current And Noncurrent
InventoryCurrentAndNoncurrent
59369000
CY2024Q3 us-gaap Inventory Noncurrent
InventoryNoncurrent
14811000
CY2023Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
19501000
CY2024Q3 us-gaap Inventory Net
InventoryNet
36538000
CY2023Q4 us-gaap Inventory Net
InventoryNet
39868000
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8566000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11822000
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3201000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3139000
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4112000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4264000
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
15879000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
19225000
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
83521000
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
153000
CY2024Q3 us-gaap Secured Debt
SecuredDebt
83368000
CY2024Q3 cers Debt Instrument Carrying Current
DebtInstrumentCarryingCurrent
18521000
CY2024Q3 us-gaap Secured Debt Current
SecuredDebtCurrent
18521000
CY2024Q3 cers Debt Instrument Carrying Non Current
DebtInstrumentCarryingNonCurrent
65000000
CY2024Q3 cers Debt Instrument Unamortized Noncurrent
DebtInstrumentUnamortizedNoncurrent
153000
CY2024Q3 us-gaap Secured Long Term Debt
SecuredLongTermDebt
64847000
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
cers Minimum Term Of Non Cancelable Operating Leases
MinimumTermOfNonCancelableOperatingLeases
P1Y
cers Expiration Of Non Cancelable Operating Leases Maximum Year
ExpirationOfNonCancelableOperatingLeasesMaximumYear
2030
CY2024Q3 us-gaap Net Rentable Area
NetRentableArea
15000
us-gaap Operating Lease Payments
OperatingLeasePayments
2674000
us-gaap Operating Lease Payments
OperatingLeasePayments
3257000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
140000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1099000
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M24D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.086
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
923000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3323000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3170000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3462000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3255000
CY2024Q3 cers Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4172000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
18305000
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3775000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
14530000
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
964000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
877000
us-gaap Operating Lease Cost
OperatingLeaseCost
2929000
us-gaap Operating Lease Cost
OperatingLeaseCost
2595000
us-gaap Lessor Operating Lease Lease Not Yet Commenced Description
LessorOperatingLeaseLeaseNotYetCommencedDescription
the Company had no leases that have not yet commenced.
CY2024Q3 cers Short Term Purchase Commitment Amount
ShortTermPurchaseCommitmentAmount
22100000
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
5400000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0000950170-24-119535.txt Edgar Link pending
0000950170-24-119535-xbrl.zip Edgar Link pending
cers-20240930.htm Edgar Link pending
cers-20240930.xsd Edgar Link pending
cers-ex31_1.htm Edgar Link pending
cers-ex31_2.htm Edgar Link pending
cers-ex32_1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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