Seer(SEER) - 2024 Q4 - Annual Results

Revenue Performance - Revenue for Q4 2024 was $4.0 million, a 10% decrease from$ 4.4 million in Q4 2023, primarily due to lower instrument sales and no grant revenue recognized[4]. - Full year 2024 revenue was $14.2 million, a 15% decrease from$ 16.7 million in 2023, attributed to lower product sales and no grant revenue recognized[8]. - Seer expects full year 2025 revenue to be in the range of $17 million to$ 18 million, representing a growth of 24% at the midpoint over full year 2024[11]. Profitability - Gross profit for Q4 2024 was $2.0 million with a gross margin of 51%[5]. - Gross profit for the full year 2024 was$ 7.1 million with a gross margin of 50%[9]. Expenses and Losses - Operating expenses for Q4 2024 were $25.5 million, a 5% increase from$ 24.2 million in Q4 2023, driven by higher laboratory expenses[5]. - Net loss for Q4 2024 was $21.7 million, compared to a net loss of$ 17.8 million in Q4 2023[7]. Instrument Shipments and Stock Repurchase - The company shipped 10 instruments in 2024, bringing cumulative instruments shipped to 72 as of December 31, 2024[6]. - Seer repurchased approximately 6.5 million shares of Class A common stock at an average cost of $1.82 per share during 2024, reducing shares outstanding by approximately 10%[6]. Cash Position - Cash, cash equivalents, and investments were approximately$ 300 million as of December 31, 2024[10].