SEER
Seer, Inc.1.8400
+0.0200+1.1%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
NIH delays slip deal; guide conservative
Q&A pinned Seer's Q4 revenue miss below guide on one academic customer delaying an instrument purchase into 2026 amid NIH funding hesitancy, echoing prepared remarks on budget pressures. Management deemed the $16M-$18M 2026 guide conservative despite 67% installed base growth and rising publications, citing lumpy revenue from a small base and customer "activation energy" to switch from targeted proteomics. Population-scale studies could add unbooked upside. NIH woes persist. Tailwinds build deliberately. Investors will track adoption evidence.
Key Stats
Market Cap
103.50MP/E (TTM)
-Basic EPS (TTM)
-1.36Dividend Yield
0%Recent Filings
8-K
Amends tax preservation plan
Seer amended its Tax Benefit Preservation Plan on March 13, 2026, clarifying 'Beneficial Ownership' to align with Treasury rules and settle a stockholder challenge in Delaware Chancery Court. The tweak moots the suit filed March 3 by a purported shareholder alleging overly broad triggers under Section 382. Seer pays $250,000 mootness fee to dismiss. Litigation avoided.
10-K
FY2025 results
Seer narrowed its FY2025 net loss to $73.6M from $86.6M in 2024, driven by 17% revenue growth to $16.6M—product sales up 29% to $11.2M, services up 40% to $4.2M—while slashing operating expenses 19% via cost controls and lower stock-based comp. Q4 momentum shone through higher consumables pull-through from expanded installed base (up >65% YoY) and new Proteograph ONE/SP200 launches in May, enabling 10x throughput gains. Cash burn eased to $44M; $241M runway supports scaling. PrognomiQ related-party revenue dipped to 5%. Yet, heavy R&D reliance risks stalling commercialization.
8-K
Seer Q4 revenue up 5%
Seer reported Q4 2025 revenue of $4.2M, up 5% year-over-year, and full-year $16.6M, up 17%, while expanding its Proteograph installed base 67% to 82 instruments. Operating expenses fell 23% in Q4 to $19.6M, narrowing net loss to $16.0M from $21.7M. Cash reserves stood at $240.6M. Guides 2026 revenue to $16M-$18M amid funding headwinds.
8-K
Adopts NOL poison pill
Seer adopted a Tax Benefit Preservation Plan on February 26, 2026, distributing one Right per Class A share to record holders on March 9. Rights trigger if any person acquires 4.9% or more of stock, enabling purchases at $11.00 to deter ownership changes that could limit valuable NOLs under Section 382. Plan expires February 25, 2029, unless ratified by shareholders by 2027. Shields tax assets.
8-K
Class B converts to Class A
Seer, Inc. automatically converted all Class B Common Stock to Class A shares at close of business on December 9, 2025, five years after its IPO listing. Class B's ten votes per share vanished; now all 56,251,522 outstanding shares carry one vote each. Economic rights unchanged. Shares retired December 12. Voting power equalized.
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