Seer Reports Third Quarter 2025 Financial Results

Core Insights - Seer, Inc. reported a 2% increase in revenue for Q3 2025, reaching $4.1 million compared to $4.0 million in Q3 2024, driven by higher product sales and service revenue [3][5] - The company achieved nearly three times the instrument shipments in the first nine months of 2025 compared to all of 2024, indicating strong demand for its Proteograph ONE workflow [2] - Seer expects full-year 2025 revenue to be between $17 million and $18 million, representing a 24% growth at the midpoint over 2024 [6] Recent Highlights - The Proteograph ONE workflow has seen robust demand, leading to a record number of third-party publications validating its performance [2] - The company ended Q3 2025 with approximately $251.2 million in cash, cash equivalents, and investments [5][9] Financial Performance - Product revenue for Q3 2025 was $2.8 million, while service revenue was $1.2 million, including $300 thousand from related party revenue [3] - Gross profit for the quarter was $2.1 million, with a gross margin of 51% [4] - Operating expenses decreased by 18% to $21.5 million compared to $26.3 million in Q3 2024, primarily due to reduced stock-based compensation and business expenses [4] Loss and Cash Position - The net loss for Q3 2025 was $18.2 million, an improvement from a net loss of $21.3 million in the same period last year [5] - As of September 30, 2025, the company had approximately $251.2 million in cash, cash equivalents, and investments [5][9]