Sera Prognostics Inc. (NASDAQ:SERA) Earnings Report HighlightsSera Prognostics Inc. (NASDAQ:SERA) reported Q4 EPS of -$0.16, surpassing the Zacks Consensus Estimate of -$0.17.Q4 2025 revenue was $10,000, missing estimates (by ~75% per Zacks) and declining from $24,000 in Q4 2024.Sera Prognostics Inc. (NASDAQ:SERA), known as The Pregnancy Company, focuses on improving maternal and neonatal health through innovative pregnancy biomarker information. The company reported its earnings for the fourth quarter of 2 ...

Earnings Call InsightsSera Prognostics outlines plan to expand partner programs to 15–17 states by year-end 2026 while maintaining cash runway through 2028Mar. 18, 2026 7:22 PM ETSera Prognostics, Inc. (SERA) StockAI-Generated Earnings Calls InsightsCommentsEarnings Call Insights: Sera Prognostics (SERA) Q4 2025 Management View President and CEO Evguenia Lindgardt highlighted 2025 as a pivotal year, emphasizing, "2025 was a critical year for Sera, finalizing our PRIME publication to advance our evidence por ...

Core Insights - The company is focusing on evidence-based practices in medical affairs for 2026, particularly through the PRIME initiative, which aims to identify risks early in the second trimester and standardize treatment pathways to reduce neonatal hospital utilization [1] Financial Performance - For the full year 2025, the company reported revenue of $81,000, a slight increase from $77,000 in 2024, with a net loss of $31.9 million compared to $32.9 million in the previous year [17] - The company ended 2025 with $95.8 million in cash, which is expected to fund operations through 2028 under the current plan [5][18] - Fourth-quarter revenue was $10,000, down from $24,000 in the same quarter of 2024, with operating expenses of $9.0 million, a decrease from $9.4 million year-over-year [16] Clinical and Regulatory Developments - The PRIME study, published in January 2026, demonstrated a 56% reduction in births before 32 weeks and a 32% reduction before 35 weeks, along with a ~20% reduction in NICU admissions, positioning the PreTRM test as a key catalyst for commercialization [7][2] - The company is advancing its regulatory pathway for the PreTRM Global Test in Europe and plans to submit European dossiers for CE marking approval in the coming months [14] Commercial Strategy - The company is expanding its payer and partner programs, moving from pilot initiatives to formal partnerships, with goals to engage 15–17 states by the end of 2026, covering approximately 58%–60% of U.S. births [6][9] - Management emphasized a "region-first" approach to build local market density through payer engagement, provider education, and patient awareness efforts [10] Future Outlook - The company aims for disciplined execution in 2026, focusing on advancing partner programs, expanding real-world data, and supporting clinicians in integrating the PreTRM test into their workflows [20] - Increased engagement with payers and providers is expected following the publication of the PRIME study, which has led to renewed interest from various stakeholders [13][10]

Sera Prognostics, Inc. (SERA) came out with a quarterly loss of $0.16 per share versus the Zacks Consensus Estimate of a loss of $0.17. This compares to a loss of $0.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +5.88%. A quarter ago, it was expected that this company would post a loss of $0.19 per share when it actually produced a loss of $0.16, delivering a surprise of +15.79%.Over the last four quarters, the company ha ...

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $10,000, down from $24,000 in Q4 2024, reflecting modest revenue fluctuations in the early commercial stage [20] - Total revenue for 2025 was $81,000, slightly up from $77,000 in 2024, indicating a gradual revenue expansion [21] - Operating expenses for Q4 2025 were $9 million, down from $9.4 million in the prior year, showcasing disciplined expense management [20] - Net loss for Q4 2025 was $7.9 million compared to a net loss of $8.6 million in Q4 2024, demonstrating improved financial control [21] Business Line Data and Key Metrics Changes - Research and development expenses for 2025 were $13.2 million, down from $14.7 million in 2024, driven by lower clinical study costs following the completion of the PRIME study [21] - Selling, general, and administrative expenses were $23.3 million in 2025 compared to $21.9 million in 2024, reflecting targeted commercial readiness investments [21] Market Data and Key Metrics Changes - The company engaged with 13 states for partner programs, exceeding its initial goal of six states [9] - The strategy aims to expand to 15-17 states by year-end 2026, representing 58%-60% of U.S. births [9] Company Strategy and Development Direction - The company aims to build evidence, access, and commercial infrastructure to drive preTRM adoption at scale, with a focus on Medicaid and high preterm birth burden states [5][8] - Plans for 2026 include expanding partner programs and generating real-world evidence to support clinical adoption and reimbursement expansion [9][10] - The company is pursuing CE marking approval for the PreTRM Global Test in Europe, with submissions expected in the coming months [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum gained from the PRIME publication and the engagement with payers and state legislators [35] - The company anticipates gradual adoption of its technology, supported by compelling clinical evidence and increasing payer engagement [45] Other Important Information - The company ended 2025 with $95.8 million in cash equivalents, providing a runway through 2028 for significant adoption and commercial milestones [22] - A new Head of Sales and Strategic Accounts was introduced, expected to enhance commercial execution and market access [15] Q&A Session Summary Question: Can you expand on converting payer discussions and partner programs using outcomes and economic data? - The company highlighted the importance of clinical outcomes and economic benefits for payers, particularly regarding NICU admissions and cost drivers [29][30] Question: What feedback was received at the SMFM conference regarding PRIME? - Engagement with providers and leadership at SMFM was positive, focusing on next steps to improve access to the test [33][35] Question: How will the company balance investments in U.S. states versus the EU launch? - The company plans to reallocate spending from clinical and R&D activities towards commercial activities, including EU opportunities [38] Question: Can you elaborate on the profile of new partners? - The company is negotiating with various partners, including large health systems and provider payers, to implement the PreTRM test into clinical workflows [40][42]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $10,000, down from $24,000 in Q4 2024, reflecting modest revenue fluctuations typical in early commercial stages [20] - Total revenue for 2025 was $81,000, slightly up from $77,000 in 2024, indicating a gradual revenue expansion [21] - Operating expenses for Q4 2025 were $9 million, down from $9.4 million in the prior year, showcasing disciplined expense management [20] - Net loss for Q4 2025 was $7.9 million compared to a net loss of $8.6 million in Q4 2024, demonstrating improved financial control [21] Business Line Data and Key Metrics Changes - Research and development expenses for 2025 were $13.2 million, down from $14.7 million in 2024, driven by lower clinical study costs following the completion of the PRIME study [21] - Selling, general, and administrative expenses were $23.3 million compared to $21.9 million in the previous year, reflecting targeted commercial readiness investments [21] Market Data and Key Metrics Changes - The company engaged with 13 states for partner programs, exceeding its initial goal of six states, and aims to expand to 15-17 states by year-end 2026 [9] - In Europe, the company is working towards CE marking approval for its preterm global test, with submissions expected in the coming months [10] Company Strategy and Development Direction - The company aims to build evidence, access, and commercial infrastructure to drive preterm birth adoption at scale, with a focus on Medicaid and high preterm birth burden states [5][8] - A disciplined approach to market access and commercial infrastructure investments is being maintained, with a focus on expanding partner programs and generating real-world evidence [11][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum gained from the PRIME publication and the growing engagement with payers and state-level stakeholders [45] - The company anticipates gradual adoption of its technology, supported by compelling clinical evidence and increasing payer engagement [45] Other Important Information - The company ended 2025 with $95.8 million in cash equivalents, which is expected to fund operations through significant adoption and commercial milestones until 2028 [22][25] - A new Head of Sales and Strategic Accounts has been appointed to enhance commercial execution and market access [15] Q&A Session Summary Question: Can you expand on converting payer discussions and partner programs using outcomes and economic data? - The company highlighted the importance of clinical outcomes and economic benefits in discussions with partners, particularly for state Medicaid agencies [29] - The reduction in NICU admissions is a significant cost driver that partners are interested in [30] Question: What feedback was received at the SMFM conference regarding PRIME? - Engagement with providers and leadership at SMFM was strong, focusing on making the test more accessible [33] - The publication has improved credibility and engagement across various stakeholders [35] Question: How will the company balance investments in successful U.S. states versus global EU launch capital requirements? - The company plans to reallocate spending from clinical and R&D activities towards commercial activities, including EU opportunities [38] Question: Can you elaborate on the profile of the new partner? - The company is negotiating with large health systems, provider payers, and group practices, aiming to implement the PreTRM test as standard care [40] - The new partner is an employer collaborative with multi-state opportunities [42]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $10,000, down from $24,000 in Q4 2024, reflecting modest revenue fluctuations typical in early commercial stages [19] - Total revenue for 2025 was $81,000, a slight increase from $77,000 in 2024, indicating gradual revenue growth [21] - Operating expenses for Q4 2025 were $9 million, down from $9.4 million in the prior year, showcasing disciplined expense management [19] - Net loss for Q4 2025 was $7.9 million compared to a net loss of $8.6 million in Q4 2024, demonstrating improved financial performance [21] Business Line Data and Key Metrics Changes - Research and development expenses for 2025 were $13.2 million, down from $14.7 million in 2024, as resources shifted towards commercialization [21] - Selling, general, and administrative expenses were $23.3 million in 2025, up from $21.9 million in 2024, due to targeted commercial readiness investments [21] Market Data and Key Metrics Changes - The company engaged with 13 states for partner programs, exceeding its initial goal of six states, and aims to expand to 15-17 states by year-end 2026 [8] - In Europe, the company is advancing its regulatory pathway for the preterm global test and is on track to submit European dossiers in the coming months [9] Company Strategy and Development Direction - The company aims to build evidence, access, and commercial infrastructure to drive preterm birth adoption at scale, with a focus on Medicaid and high preterm birth burden states [5] - The strategy includes launching targeted programs to generate outcomes data that support clinical adoption and reimbursement expansion [7] - The company plans to maintain disciplined investments in market access and commercial infrastructure while expanding geographically [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the momentum gained from the PRIME publication and the growing engagement with payers and states [45] - The focus for 2026 will be on disciplined execution, advancing partner programs, and supporting clinicians in integrating PreTRM into workflows [45] - The company believes that compelling clinical evidence and increasing payer engagement will unlock significant value in an underserved market [45] Other Important Information - The company ended 2025 with $95.8 million in cash equivalents, providing a runway through 2028 for significant adoption and commercial milestones [22] - The capital allocation philosophy emphasizes disciplined deployment towards milestones that de-risk the commercial model while maintaining balance sheet strength [23] Q&A Session Summary Question: Can you expand on converting payer discussions and partner programs using outcomes and economic data? - The company highlighted the importance of clinical outcomes and economic benefits to engage partners, particularly state Medicaid agencies [29] - The reduction in NICU admissions is a significant cost driver for payers, making the economic model compelling [30] Question: What feedback was received at the SMFM conference regarding PRIME? - The conference led to increased engagement with providers and state legislators, with a focus on making the test more accessible [33] - The publication has improved credibility and engagement across various stakeholders [35] Question: How will the company balance investments in successful U.S. states versus global EU launch capital requirements? - The company plans to maintain a similar cash operating expense budget while reallocating spending towards commercial activities, including EU opportunities [39] Question: Can you elaborate on the profile of the new partner in the second partnership program? - The company is negotiating with various partners, including large health systems and provider payers, to implement the PreTRM test as standard care [41] - The second partner is an employer collaborative with multi-state opportunities, showcasing the diverse nature of partnerships [43]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-40606 SERA PROGNOSTICS, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 26-1911522 (State or other jurisdiction of incorporation ...

SERA PROGNOSTICS REPORTS FOURTH QUARTER 2025 FINANCIAL RESULTS Salt Lake City – March 18, 2026 – Sera Prognostics Inc., The Pregnancy Company® (Nasdaq: SERA), focused on improving maternal and neonatal health by providing innovative pregnancy biomarker information to doctors and patients, today announced financial results for the fourth quarter and full year ended December 31, 2025. Key 2025 and Recent Highlights: Data Generation Commercial Progress Equity financing Exhibit 99.1 • Expanded Commercial Engage ...

SERA PROGNOSTICS REPORTS FOURTH QUARTER AND FULL YEAR 2025 FINANCIAL RESULTS Accessibility StatementSkip Navigation SALT LAKE CITY, March 18, 2026 /PRNewswire/ -- Sera Prognostics Inc., The Pregnancy Company® (Nasdaq: SERA), focused on improving maternal and neonatal health by providing innovative pregnancy biomarker information to doctors and patients, today announced financial results for the fourth quarter and full year ended December 31, 2025. Key 2025 and Recent Highlights: Data Generation Published La ...