$CERS
CERUS CORP

2018 Form 10-K Financial Statement

#000156459019004542 Filed on February 27, 2019

View on sec.gov

Income Statement

Concept 2018 2017 Q4 2017 Q3
Revenue $76.05M $16.24M $10.80M
YoY Change 48.17% 60.4% 6.11%
Cost Of Revenue $31.63M $9.130M $5.350M
YoY Change 40.4% 62.75% -1.83%
Gross Profit $44.42M $9.490M $5.449M
YoY Change 54.25% 109.96% 15.35%
Gross Profit Margin 58.4% 58.44% 50.47%
Selling, General & Admin $56.84M $12.51M $12.18M
YoY Change 8.03% 0.56% 0.16%
% of Gross Profit 127.97% 131.82% 223.53%
Research & Development $42.56M $7.780M $7.886M
YoY Change 26.27% -11.79% 12.13%
% of Gross Profit 95.83% 81.98% 144.72%
Depreciation & Amortization $1.445M $450.0K $460.0K
YoY Change -20.21% 4.65% 6.98%
% of Gross Profit 3.25% 4.74% 8.44%
Operating Expenses $99.41M $20.34M $20.12M
YoY Change 15.15% -4.51% 4.53%
Operating Profit -$54.99M -$10.85M -$12.38M
YoY Change -4.42% -35.34% -13.16%
Interest Expense $4.008M -$850.0K $1.090M
YoY Change 32.63% 88.89% 86.01%
% of Operating Profit
Other Income/Expense, Net -$2.347M $140.0K -$986.0K
YoY Change -382.09% -83.53% 84.99%
Pretax Income -$57.34M -$11.56M -$13.37M
YoY Change 1.12% -21.41% -9.63%
Income Tax $229.0K -$70.00K $50.00K
% Of Pretax Income
Net Earnings -$57.56M -$11.49M -$13.42M
YoY Change -4.99% -14.92% -6.66%
Net Earnings / Revenue -75.69% -70.73% -124.28%
Basic Earnings Per Share -$0.10 -$0.12
Diluted Earnings Per Share -$0.44 -$0.10 -$0.12
COMMON SHARES
Basic Shares Outstanding 131.7M 109.8M
Diluted Shares Outstanding 131.7M 109.8M

Balance Sheet

Concept 2018 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.6M $60.70M $59.60M
YoY Change 93.74% -10.31% -26.6%
Cash & Equivalents $28.90M $13.68M $17.24M
Short-Term Investments $88.70M $47.01M $42.60M
Other Short-Term Assets $7.000M $2.330M $4.100M
YoY Change 204.35% 29.16% -43.06%
Inventory $13.50M $14.46M $14.30M
Prepaid Expenses $1.221M
Receivables $8.800M $12.42M $10.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $146.9M $89.90M $88.40M
YoY Change 63.4% -4.47% -18.15%
LONG-TERM ASSETS
Property, Plant & Equipment $8.100M $2.119M $2.300M
YoY Change 285.71% -29.01% -28.13%
Goodwill $1.316M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.800M $4.128M $4.400M
YoY Change 54.55% -0.48% 57.14%
Total Long-Term Assets $16.60M $8.346M $8.700M
YoY Change 100.0% -10.94% 7.41%
TOTAL ASSETS
Total Short-Term Assets $146.9M $89.90M $88.40M
Total Long-Term Assets $16.60M $8.346M $8.700M
Total Assets $163.5M $98.24M $97.10M
YoY Change 66.5% -5.06% -16.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.60M $10.97M $12.50M
YoY Change 69.09% 27.8% 81.16%
Accrued Expenses $19.80M $11.71M $10.70M
YoY Change 76.79% 4.4% 4.9%
Deferred Revenue $445.0K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.900M $0.00
YoY Change -100.0%
Total Short-Term Liabilities $52.70M $23.13M $23.90M
YoY Change 128.14% -13.97% 4.37%
LONG-TERM LIABILITIES
Long-Term Debt $22.00M $29.80M $29.80M
YoY Change -26.17% 140.32% 106.94%
Other Long-Term Liabilities $4.300M $609.0K $6.300M
YoY Change -32.81% -61.7% -1.56%
Total Long-Term Liabilities $26.30M $609.0K $36.10M
YoY Change -27.35% -61.7% 73.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.70M $23.13M $23.90M
Total Long-Term Liabilities $26.30M $609.0K $36.10M
Total Liabilities $78.90M $59.30M $59.90M
YoY Change 33.05% 29.8% 36.76%
SHAREHOLDERS EQUITY
Retained Earnings -$721.3M -$709.8M
YoY Change 9.17%
Common Stock $760.3M $747.0M
YoY Change 5.84%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $84.50M $38.94M $37.18M
YoY Change
Total Liabilities & Shareholders Equity $163.5M $98.24M $97.09M
YoY Change 66.5% -5.06% -16.38%

Cashflow Statement

Concept 2018 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$57.56M -$11.49M -$13.42M
YoY Change -4.99% -14.92% -6.66%
Depreciation, Depletion And Amortization $1.445M $450.0K $460.0K
YoY Change -20.21% 4.65% 6.98%
Cash From Operating Activities -$31.25M -$10.04M -$12.85M
YoY Change -40.18% 3.4% -20.92%
INVESTING ACTIVITIES
Capital Expenditures $1.144M $0.00 $0.00
YoY Change 224.08% -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$42.70M -$4.610M -$12.34M
YoY Change -5645.45% -124.39% -196.71%
Cash From Investing Activities -$43.85M -$4.610M -$12.33M
YoY Change -10515.2% -124.65% -198.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $85.04M
YoY Change 181.6%
Debt Paid & Issued, Net $133.0K
YoY Change -99.32%
Cash From Financing Activities 92.75M 11.33M 21.90M
YoY Change 115.7% 3676.67% 146.62%
NET CHANGE
Cash From Operating Activities -31.25M -10.04M -12.85M
Cash From Investing Activities -43.85M -4.610M -12.33M
Cash From Financing Activities 92.75M 11.33M 21.90M
Net Change In Cash 17.66M -3.320M -3.280M
YoY Change -300.33% -135.74% -163.69%
FREE CASH FLOW
Cash From Operating Activities -$31.25M -$10.04M -$12.85M
Capital Expenditures $1.144M $0.00 $0.00
Free Cash Flow -$32.39M -$10.04M -$12.85M
YoY Change -38.41% 5.57% -19.74%

Facts In Submission

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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 the nature and timing of satisfaction of performance obligations, the timing when the customer obtains control of products or services, the standalone selling price (&#8220;SSP&#8221;) of performance obligations, variable consideration, accounts receivable, inventory reserves, fair values of investments, stock-based compensation, intangible assets and goodwill, useful lives of intangible assets and property and equipment, income taxes, and accrued liabilities, 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.</p>
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CY2018 us-gaap Concentration Risk Credit Risk
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<p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents, available-for-sale securities and accounts receivable.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the Company&#8217;s investment policy, substantially all of the Company&#8217;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&#8217;s investments carry high credit quality ratings, which is in accordance with its investment policy.&#160;At December&#160;31, 2018, the Company does not believe there is significant financial risk from non-performance by the issuers of the Company&#8217;s cash equivalents and short-term investments.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Concentrations of credit risk with respect to trade receivables exist. 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 specific invoices or customer accounts may be uncollectible, the Company establishes an allowance for doubtful accounts against the accounts receivable on its consolidated balance sheets and records a charge on its consolidated statements of operations as a component of selling, general and administrative expenses.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company had two customers and three customers that accounted for more than 10% of the Company&#8217;s outstanding trade receivables at December&#160;31, 2018 and December&#160;31, 2017, respectively. These customers cumulatively represented approximately 50% and 53% of the Company&#8217;s outstanding trade receivables at December&#160;31, 2018 and December&#160;31, 2017, respectively. To date, the Company has not experienced collection difficulties from these customers.</p>
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1481000
CY2018 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P10Y
CY2018 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2018Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
9928000
CY2017Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
11990000
CY2018 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<p style="text-align:justify;margin-top:8pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Guarantee and Indemnification Arrangements</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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&#8217;s technology infringes the intellectual property rights of a third party or claims that the sale or use of the Company&#8217;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.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company generally provides for a one-year warranty on certain of its INTERCEPT blood-safety products covering defects in materials and workmanship. The Company accrues costs associated with warranty obligations when claims become known and are estimable. The Company has not 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 December&#160;31, 2018 and December&#160;31, 2017.</p>
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13513000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11509000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11394000
CY2018 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1100000
CY2017 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1200000
CY2018 cers Product Warranty Term
ProductWarrantyTerm
P1Y
CY2018Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
0
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
95166000
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
75761000
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
253000
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
10975000
CY2018Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
30000
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
86736000
CY2018Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
283000
CY2017Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
97000
CY2017Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
44514000
CY2017Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
97000
CY2017 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2016 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2018 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0
CY2017 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0
CY2016 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0
CY2018Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
3075000
CY2017Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4299000
CY2018Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
10464000
CY2018 us-gaap Revenue Performance Obligation Description Of Payment Terms
RevenuePerformanceObligationDescriptionOfPaymentTerms
The Company invoices its customers based upon the terms in the contracts, which is generally from 30 to 60 days.
CY2018Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2018 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
400000
CY2018 us-gaap Revenue Practical Expedient Remaining Performance Obligation
RevenuePracticalExpedientRemainingPerformanceObligation
true
CY2018Q4 us-gaap Restricted Cash
RestrictedCash
2500000
CY2017Q4 cers Accrued Development Costs Current
AccruedDevelopmentCostsCurrent
794000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2526000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
7857000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8571000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
8572000
CY2018Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
5000000
CY2018Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
30000000
CY2018Q4 cers Longterm Debt Maturities Repayments Of Interest In Next Twelve Months
LongtermDebtMaturitiesRepaymentsOfInterestInNextTwelveMonths
2579000
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
94885000
CY2017Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
50868000
CY2017Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
97000
CY2017Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
50771000
CY2018Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
85227000
CY2017Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
38836000
CY2018Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
9939000
CY2016 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1100000
CY2018 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2017 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2018 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0
CY2018 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2017000
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2017000
CY2016 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
200000
CY2018Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
100000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7372000
CY2017Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1811000
CY2018Q4 cers Accrued Development Costs Current
AccruedDevelopmentCostsCurrent
1965000
CY2018Q4 cers Long Term Debt Maturities Repayments Of Interest In Year Two
LongTermDebtMaturitiesRepaymentsOfInterestInYearTwo
1765000
CY2018Q4 cers Long Term Debt Maturities Repayments Of Interest In Year Three
LongTermDebtMaturitiesRepaymentsOfInterestInYearThree
931000
CY2018Q4 cers Long Term Debt Maturities Repayments Of Interest In Year Four
LongTermDebtMaturitiesRepaymentsOfInterestInYearFour
2560000
CY2018Q4 cers Long Term Debt Maturities Repayments Of Interest
LongTermDebtMaturitiesRepaymentsOfInterest
7835000
CY2018Q4 cers Long Term Debt Maturities Repayments Of Principal And Interest In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalAndInterestInNextTwelveMonths
10436000
CY2018Q4 cers Long Term Debt Maturities Repayments Of Principal And Interest In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalAndInterestInYearTwo
10336000
CY2018Q4 cers Long Term Debt Maturities Repayments Of Principal And Interest In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalAndInterestInYearThree
9503000
CY2018Q4 cers Long Term Debt Maturities Repayments Of Principal And Interest In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAndInterestInYearFour
7560000
CY2018Q4 cers Long Term Debt Maturities Repayments Of Principal And Interest
LongTermDebtMaturitiesRepaymentsOfPrincipalAndInterest
37835000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
18690000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
33642000
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
800000
CY2018 cers Purchase Commitment Payments
PurchaseCommitmentPayments
10000000
CY2017 cers Purchase Commitment Payments
PurchaseCommitmentPayments
6700000
CY2016 cers Purchase Commitment Payments
PurchaseCommitmentPayments
6900000
CY2018Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
13100000
CY2018Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
3200000
CY2018Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
2500000
CY2018Q4 us-gaap Purchase Obligation Due In Fourth Year
PurchaseObligationDueInFourthYear
2600000
CY2018Q4 us-gaap Purchase Obligation Due In Fifth Year
PurchaseObligationDueInFifthYear
100000
CY2018 cers Stockholders Rights Plan Expiration Date
StockholdersRightsPlanExpirationDate
2019-10-27
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
7100000
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
600000
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1900000
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10394000
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9355000
CY2016 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8065000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.41
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.98
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.55
CY2018 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.60
CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
0
CY2018 cers Payment For Manufacturing Of Entity Products
PaymentForManufacturingOfEntityProducts
21300000
CY2017 cers Payment For Manufacturing Of Entity Products
PaymentForManufacturingOfEntityProducts
18100000
CY2016 cers Payment For Manufacturing Of Entity Products
PaymentForManufacturingOfEntityProducts
16100000
CY2018Q4 cers Accrual For Manufacturing Of Entity Products
AccrualForManufacturingOfEntityProducts
7812000
CY2017Q4 cers Accrual For Manufacturing Of Entity Products
AccrualForManufacturingOfEntityProducts
4687000
CY2018Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
1777000
CY2017Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
231000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-58048000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-57925000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-63246000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
713000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
1227000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
515000
CY2018 cers Income Tax Reconciliation State Tax Credits Research
IncomeTaxReconciliationStateTaxCreditsResearch
655000
CY2017 cers Income Tax Reconciliation State Tax Credits Research
IncomeTaxReconciliationStateTaxCreditsResearch
628000
CY2016 cers Income Tax Reconciliation State Tax Credits Research
IncomeTaxReconciliationStateTaxCreditsResearch
449000
CY2018 cers Income Tax Reconciliation Expiration Of State And Local Net Operating Losses
IncomeTaxReconciliationExpirationOfStateAndLocalNetOperatingLosses
-1344000
CY2017 cers Income Tax Reconciliation Expiration Of State And Local Net Operating Losses
IncomeTaxReconciliationExpirationOfStateAndLocalNetOperatingLosses
-1475000
CY2016 cers Income Tax Reconciliation Expiration Of State And Local Net Operating Losses
IncomeTaxReconciliationExpirationOfStateAndLocalNetOperatingLosses
-1193000
CY2018 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
9913000
CY2018 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
225000
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-59462000
CY2016 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
3940000
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
-361000
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1382000
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
484000
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1141000
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-803000
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-990000
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
181000
CY2016 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
147000
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
225000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
181000
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
147000
CY2018 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0
CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
0
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3659000
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
28000
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1000
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
47000
CY2018 cers Deferred Income Tax Expense Benefit And Tax Benefit From Unrealized Gain On Available For Sale Securities Operating Activities
DeferredIncomeTaxExpenseBenefitAndTaxBenefitFromUnrealizedGainOnAvailableForSaleSecuritiesOperatingActivities
4000
CY2017 cers Deferred Income Tax Expense Benefit And Tax Benefit From Unrealized Gain On Available For Sale Securities Operating Activities
DeferredIncomeTaxExpenseBenefitAndTaxBenefitFromUnrealizedGainOnAvailableForSaleSecuritiesOperatingActivities
3706000
CY2016 cers Deferred Income Tax Expense Benefit And Tax Benefit From Unrealized Gain On Available For Sale Securities Operating Activities
DeferredIncomeTaxExpenseBenefitAndTaxBenefitFromUnrealizedGainOnAvailableForSaleSecuritiesOperatingActivities
28000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-12040000
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-19277000
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-21329000
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
81923000
CY2017 cers Income Tax Reconciliation Change In Enacted Tax Rate Deemed Income Inclusion
IncomeTaxReconciliationChangeInEnactedTaxRateDeemedIncomeInclusion
1083000
CY2018 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
1390000
CY2017 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
1000000
CY2016 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
809000
CY2016 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
17200000
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
405000
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-806000
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
935000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
125016000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
117028000
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
26705000
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
25061000
CY2018Q4 cers Deferred Tax Assets Capitalized Research And Development Costs
DeferredTaxAssetsCapitalizedResearchAndDevelopmentCosts
15293000
CY2017Q4 cers Deferred Tax Assets Capitalized Research And Development Costs
DeferredTaxAssetsCapitalizedResearchAndDevelopmentCosts
17195000
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
8310000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
7011000
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
4013000
CY2017Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
3116000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
179337000
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
169411000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
179245000
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
169332000
CY2018Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
92000
CY2017Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
79000
CY2018Q4 cers Deferred Tax Liabilities Amortization Of Intangible Assets
DeferredTaxLiabilitiesAmortizationOfIntangibleAssets
127000
CY2017Q4 cers Deferred Tax Liabilities Amortization Of Intangible Assets
DeferredTaxLiabilitiesAmortizationOfIntangibleAssets
111000
CY2018Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
127000
CY2017Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
111000
CY2018 us-gaap Valuation Allowances And Reserves Period Increase Decrease
ValuationAllowancesAndReservesPeriodIncreaseDecrease
9900000
CY2017 us-gaap Valuation Allowances And Reserves Period Increase Decrease
ValuationAllowancesAndReservesPeriodIncreaseDecrease
-59500000
CY2016 us-gaap Valuation Allowances And Reserves Period Increase Decrease
ValuationAllowancesAndReservesPeriodIncreaseDecrease
3900000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
571992000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
59752000
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
610000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
11062000
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
10836000
CY2018 cers Unrecognized Tax Benefits Decreases Resulting From Expired Carryforwards
UnrecognizedTaxBenefitsDecreasesResultingFromExpiredCarryforwards
401000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
19000
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
402000
CY2017 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
207000
CY2018 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
76051000
CY2017 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
51326000
CY2016 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
39275000
CY2018Q4 us-gaap Noncurrent Assets
NoncurrentAssets
8464000
CY2017Q4 us-gaap Noncurrent Assets
NoncurrentAssets
2655000
CY2018Q1 cers Gross Profit On Product Revenue
GrossProfitOnProductRevenue
6234000
CY2018Q2 cers Gross Profit On Product Revenue
GrossProfitOnProductRevenue
7700000
CY2018Q3 cers Gross Profit On Product Revenue
GrossProfitOnProductRevenue
7257000
CY2018Q4 cers Gross Profit On Product Revenue
GrossProfitOnProductRevenue
8083000
CY2017Q1 cers Gross Profit On Product Revenue
GrossProfitOnProductRevenue
3312000
CY2017Q2 cers Gross Profit On Product Revenue
GrossProfitOnProductRevenue
5165000
CY2017Q3 cers Gross Profit On Product Revenue
GrossProfitOnProductRevenue
5449000
CY2017Q4 cers Gross Profit On Product Revenue
GrossProfitOnProductRevenue
7111000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-18598000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-17083000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-13418000
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
-11486000
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.12
CY2017Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.12
CY2017Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10

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