Financial Performance - Q3 2025 revenue reached $4.1 million[6,21] - The company holds approximately $251 million in cash, cash equivalents, and investments[6,21] - Gross margin for Q3 2025 was 51%, compared to 48% in Q3 2024[21] - Net loss for Q3 2025 was $18.2 million, an improvement from the $21.3 million net loss in Q3 2024[21] - The company repurchased approximately 1 million shares in Q3, bringing the total to approximately 11.7 million shares, reducing net total shares outstanding by approximately 14%[22] - The company reiterates full year 2025 revenue guidance of $17 million to $18 million, representing 24% year-over-year growth at the midpoint[23] Product and Platform Adoption - The company delivered the third consecutive quarter of strong instrument shipments[7] - The Proteograph ONE workflow doubles throughput to 80 samples per run, with an approximate 30% reduction in run time to approximately 4.5 hours compared to Proteograph XT[11] - The Proteograph ONE workflow can analyze over 1,000 samples per week[11] - The company shipped nearly three times as many instruments in the first nine months of 2025 as in all of 2024[20]

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]

Core Insights - Seer, Inc. and Korea University are launching a population-level study to identify blood-based cancer biomarkers for young adults in their 20s and 30s using Seer's Proteograph ONE Assay and advanced mass spectrometry technology [1][2][4] Study Overview - The study will analyze 20,000 plasma samples, including 15,000 from cancer patients and 5,000 from healthy controls, sourced from leading cancer institutions in Korea [2] - Funded by the K-Health MIRAE initiative, the three-year study aims to enhance early cancer detection and improve patient outcomes [2] Technological Advancements - Seer's Proteograph ONE workflow significantly increases the scale and efficiency of proteomic analysis, enabling faster and more cost-effective studies [4][6] - The study utilizes the Thermo Scientific Orbitrap Astral mass spectrometer, which is recognized as a leading instrument for proteomic research [4][5] Research Impact - The collaboration aims to drive earlier interventions and improve survival outcomes for young adult cancer patients through sensitive and personalized diagnostics [3][6] - The Proteograph ONE workflow allows for processing over 1,000 samples per week, with the ability to identify up to 10 times more proteins than conventional methods [5]