Seer(SEER) - 2025 Q2 - Quarterly Results

Financial & Operational Highlights Seer achieved a 32% revenue increase to $4.1 million in Q2 2025, launching new products and securing a major research collaboration Financial Highlights (Q2 2025 vs Q2 2024) | Metric | Q2 2025 ($) | Q2 2024 ($) | Change | | :--- | :--- | :--- | :--- | | Revenue | $4.1 million | $3.1 million | +32% | | Gross Profit | $2.1 million | $1.7 million | +23% | | Net Loss | ($19.4 million) | ($22.9 million) | Improved | | Cash & Investments | $263.3 million | N/A | N/A | - Launched the new high-throughput Proteograph ONE assay and SP200 automation instrument, designed to enhance the scalability and efficiency of its proteomics platform[1][3][7] - Announced a collaboration with Korea University for a 20,000-sample population-scale proteomics study aimed at developing AI-driven diagnostics for cancers in young adults[7] Second Quarter 2025 Financial Results Seer's Q2 2025 revenue increased 32% to $4.1 million, with improved net loss due to effective cost management Revenue Q2 2025 total revenue reached $4.1 million, a 32% increase, primarily driven by product and service sales Q2 2025 Revenue Breakdown | Revenue Component | Q2 2025 ($) | | :--- | :--- | | Product Revenue | $2.7 million | | Service Revenue | $1.2 million | | Other Revenue | $0.1 million | | Total Revenue | $4.1 million | Profitability and Expenses Gross profit was $2.1 million with a 52% margin, while operating expenses decreased 21%, improving net loss Profitability and Expense Summary (Q2 2025 vs Q2 2024) | Metric | Q2 2025 ($) | Q2 2024 ($) | | :--- | :--- | :--- | | Gross Profit | $2.1 million | $1.7 million | | Gross Margin | 52% | 56% | | Operating Expenses | $22.6 million | $28.8 million | | Net Loss | ($19.4 million) | ($22.9 million) | - The 21% decrease in operating expenses was primarily driven by a significant reduction in stock-based compensation, which fell to $3.7 million from $7.3 million in the prior year period[5] Financial Position As of June 30, 2025, Seer maintained a strong financial position with approximately $263.3 million in cash and investments - The company's cash, cash equivalents, and investments totaled approximately $263.3 million at the end of the second quarter[6][7] 2025 Guidance Seer reaffirms its full-year 2025 revenue guidance of $17 million to $18 million, representing 24% growth at the midpoint - The company reiterates its full-year 2025 revenue outlook to be between $17 million and $18 million[8] - The midpoint of the guidance represents a 24% growth over full-year 2024 revenue[8] Consolidated Financial Statements This section presents Seer, Inc.'s unaudited condensed consolidated financial statements, including Statements of Operations and Balance Sheets Condensed Consolidated Statements of Operations Q2 2025 revenue was $4.1 million with a $19.4 million net loss, while the six-month net loss totaled $39.4 million Condensed Consolidated Statements of Operations (in thousands) | (in thousands) | Three Months Ended June 30, 2025 (in thousands) | Three Months Ended June 30, 2024 (in thousands) | Six Months Ended June 30, 2025 (in thousands) | Six Months Ended June 30, 2024 (in thousands) | | :--- | :--- | :--- | :--- | :--- | | Total revenue | $4,051 | $3,072 | $8,256 | $6,138 | | Gross profit | $2,111 | $1,731 | $4,172 | $3,092 | | Total operating expenses | $22,641 | $28,827 | $45,433 | $55,380 | | Loss from operations | ($20,530) | ($27,096) | ($41,261) | ($52,288) | | Net loss | ($19,424) | ($22,850) | ($39,372) | ($43,529) | | Net loss per share | ($0.33) | ($0.35) | ($0.67) | ($0.67) | Condensed Consolidated Balance Sheets As of June 30, 2025, total assets were $322.5 million, with total liabilities at $34.2 million and stockholders' equity at $288.3 million Condensed Consolidated Balance Sheets (in thousands) | (in thousands) | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $37,931 | $40,753 | | Short-term investments | $171,895 | $195,657 | | Total current assets | $225,638 | $253,323 | | Total assets | $322,487 | $366,597 | | Total current liabilities | $11,785 | $15,328 | | Total liabilities | $34,195 | $39,028 | | Total stockholders' equity | $288,292 | $327,569 |