Table of Contents Copies to: Title of each class Trading Symbol(s) Name of Exchange on which registered Common Stock, par value $0.00001 SEER Nasdaq Global Select Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the tra ...

Seer Reports Third Quarter 2024 Financial Results Growing enthusiasm for Proteograph Product Suite with multiple larger orders from government agencies and continued strong interest in STAC REDWOOD CITY, Calif. Nov 6, 2024 – Seer, Inc. (Nasdaq: SEER), a leading life sciences company commercializing a disruptive new platform for proteomics, today reported financial results for the third quarter ended September 30, 2024. Recent Highlights • Achieved revenue of $4.0 million for the third quarter of 2024 • Ente ...

REDWOOD CITY, Calif., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Seer, Inc. (Nasdaq: SEER), a leading life sciences company commercializing a disruptive new platform for proteomics, today announced a co-marketing and sales agreement with Thermo Fisher Scientific, the world leader in serving science, to jointly promote Seer’s Proteograph™ Product Suite alongside Thermo Scientific Orbitrap Astral™ mass spectrometers. This strategic collaboration aims to accelerate the adoption of innovative proteomic technologies, off ...

REDWOOD CITY, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Seer, Inc. (Nasdaq: SEER), a leading life sciences company commercializing a disruptive new platform for proteomics, will showcase the Proteograph Product Suite’s unique ability to deliver deep proteomic insights that complement and strengthen genomic and other “omic” research at the American Society of Human Genetics (ASHG) 2024 Annual Meeting in Denver, Colo., from Nov. 5-9. Seer will present a CoLab session exploring research breakthroughs from Prog ...

REDWOOD CITY, Calif., Oct. 21, 2024 (GLOBE NEWSWIRE) -- Seer, Inc., (Nasdaq: SEER), a leading life science innovator shaping the future of proteomics, is set to present significant advancements at the 23rd Human Proteome Organization (HUPO) World Congress in Dresden, Germany, from October 20-24, 2024. As a HUPO sponsor, Seer will showcase novel findings that are driving the adoption and expansion of proteomic science, demonstrating the unique power of its Proteograph™ Product Suite to accelerate proteomic r ...

REDWOOD CITY, Calif., Aug. 22, 2024 (GLOBE NEWSWIRE) -- Seer, Inc. (Nasdaq: SEER), a leading life sciences company commercializing a disruptive new platform for proteomics, today announced that the company will be participating in the upcoming Morgan Stanley 22nd Annual Global Healthcare Conference in New York, NY. Seer's management is scheduled to participate in a fireside chat on Thursday, September 5th at 4:05 p.m. Eastern Time / 1:05 p.m. Pacific Time. A live webcast of the session will be available on ...

REDWOOD CITY, Calif., Aug. 09, 2024 (GLOBE NEWSWIRE) -- Seer, Inc. (Nasdaq: SEER), a leading life sciences company commercializing a disruptive new platform for proteomics, today announced that the company will be participating in the upcoming Canaccord Genuity 44th Annual Growth Conference in Boston, MA. Seer's management is scheduled to participate in a fireside chat on Wednesday, August 14th at 3:00 p.m. Eastern Time / 12:00 p.m. Pacific Time. A live webcast of the session will be available on the Invest ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $3.1 million, a decrease of 23% compared to $4 million in Q2 2023, primarily due to a decrease in related party and grant revenue [22][24] - Gross profit was $1.7 million for Q2 2024, representing a gross margin of 56%, compared to $2.3 million and a gross margin of 57% in Q2 2023 [24] - Net loss for Q2 2024 was $22.9 million, compared to $23.4 million in Q2 2023 [26] Business Line Data and Key Metrics Changes - Product revenue for Q2 2024 was $2.2 million, including $420,000 from related party revenue, consisting of sales of SP-100 instruments and consumable kits [22] - Service revenue was $845,000 in Q2 2024, including $163,000 from related party revenue, primarily related to STAC service projects [23] - Grant and other revenue was $46,000 for Q2 2024, consisting of lease and shipping revenue [24] Market Data and Key Metrics Changes - The company experienced elongated sales cycles due to constrained capital budgets around instrumentation, impacting the purchase of new instrumentation [23][30] - The company opened a STAC lab in Germany in June 2024 to enhance access for European researchers [7][34] Company Strategy and Development Direction - The company is focused on enhancing access to the Proteograph product suite and assisting customers in generating novel data while reducing operating cash burn [4][28] - The company aims to drive evidence and publications, enhance access to the Proteograph, innovate with products, and expand applications [21][28] - The launch of the 2024 Seer Insights grant program aimed to support innovative researchers, resulting in increased awareness and demand for the technology [8][9] Management's Comments on Operating Environment and Future Outlook - Management noted a challenging macro environment for the adoption of novel technology, leading to a slower recovery in the second half of the year than previously anticipated [26][27] - The revised revenue guidance for 2024 is now expected to be in the range of $13 million to $15 million, down from the previous guidance of $16 million to $18 million [27] Other Important Information - The company ended Q2 2024 with approximately $344.6 million in cash, cash equivalents, and investments [26] - The company has seen an increase in the number of publications showcasing the value of its technology, with 10 preprints and 11 peer-reviewed publications to date [10][12] Q&A Session Summary Question: Could you comment on the length of the sales cycle that you saw in the second quarter? - Management indicated that the sales cycle is being pushed out due to constrained capital budgets, reflecting a broader trend in the market [30] Question: What are the key underlying assumptions around the acceleration and the top line in 2H? - Management expressed confidence in the second half ramp due to a strong pipeline and increased interest from publications [32] Question: Could you provide some color around the traction generated by the STAC in Germany? - Management noted that the STAC in Germany became operational in June and is beginning to process customer samples, with expectations for revenue to follow similar lines as the U.S. STAC [34][36] Question: How have recent publications aided in conversations with customers? - Management highlighted that publications demonstrate the differentiated biological insights provided by the Proteograph, leading to increased customer interest and adoption [38][41] Question: Can you discuss the split between pharma and academic customers in your sales funnel? - Management noted a shift in the pipeline, with academic opportunities now comprising about 60% of the pipeline, reflecting increased interest from academic institutions [43]

Seer, Inc. (SEER) came out with a quarterly loss of $0.35 per share versus the Zacks Consensus Estimate of a loss of $0.36. This compares to loss of $0.37 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 2.78%. A quarter ago, it was expected that this company would post a loss of $0.31 per share when it actually produced a loss of $0.32, delivering a surprise of -3.23%. Over the last four quarters, the company has surpassed co ...

Core Insights - Seer, Inc. is set to report its financial results for Q2 2024 on August 8, 2024, with a conference call scheduled for 1:30 p.m. Pacific Time [1] - The company specializes in proteomics and has developed the Proteograph Product Suite, which enables deep and unbiased proteomic analysis [3] Company Overview - Seer, Inc. is a life sciences company focused on creating transformative products that provide new access to the proteome [3] - The Proteograph Product Suite includes engineered nanoparticles, consumables, automation instrumentation, and software, designed for efficient and scalable proteomic analysis [3] - The Proteograph workflow is user-friendly and compatible with widely used laboratory instruments, making it suitable for various labs [3] - The products are intended for research use only and are not designed for diagnostic purposes [3]