Seer(US:SEER)2025-11-06 21:28Revenue Performance - Revenue for Q3 2025 was $4.1 million, a 2% increase from $4.0 million in Q3 2024, driven by higher product sales and service revenue[4] - Product revenue for Q3 2025 was $2.8 million, while service revenue was $1.2 million, including $300 thousand from related party revenue[4] - 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 compared to full year 2024[7] Profitability and Expenses - Gross profit was $2.1 million with a gross margin of 51% for Q3 2025[5] - Operating expenses decreased by 18% to $21.5 million in Q3 2025 from $26.3 million in Q3 2024, primarily due to reduced stock-based compensation and business expenses[5] - Net loss for Q3 2025 was $18.2 million, an improvement from a net loss of $21.3 million in Q3 2024[6] Cash and Assets - Cash, cash equivalents, and investments totaled approximately $251.2 million as of September 30, 2025[6] - Total assets as of September 30, 2025, were $308.6 million, down from $366.6 million as of December 31, 2024[16] Market Demand and Validation - The company shipped nearly three times as many instruments in the first nine months of 2025 compared to all of 2024, indicating strong demand for the Proteograph ONE workflow[3] - Seer achieved a record number of third-party publications, with more than 60 total to date, validating the performance of the Proteograph technology[3]