Seer Reports Second Quarter 2025 Financial Results and Reiterates Full Year 2025 Outlook
Rhea-AI Summary
Seer (Nasdaq: SEER), a life sciences company focused on proteomics, reported its Q2 2025 financial results with revenue of $4.1 million, representing a 32% year-over-year growth. The quarter was marked by the launch of their new high-throughput Proteograph ONE assay and SP200 automation instrument.
Key financial metrics include gross profit of $2.1 million with a 52% gross margin. Operating expenses decreased 21% to $22.6 million, while net loss improved to $19.4 million. The company maintains a strong balance sheet with $263.3 million in cash and investments. Seer reiterated its full-year 2025 revenue guidance of $17-18 million, projecting 24% growth at the midpoint.
Notable developments include a collaboration with Korea University for a 20,000-sample population-scale proteomics study focused on cancer diagnostics in young adults.
Positive
- None.
Negative
- Continued operating losses of $19.4 million in Q2
- Macroeconomic pressures affecting customer base
- Revenue remains relatively small at $4.1 million despite growth
News Market Reaction – SEER
On the day this news was published, SEER declined 2.43%, reflecting a moderate negative market reaction. This price movement removed approximately $3M from the company's valuation, bringing the market cap to $121M at that time. Trading volume was above average at 1.6x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
Revenue grew
Launched new high-throughput Proteograph® ONE assay and SP200 automation instrument
REDWOOD CITY, Calif., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Seer, Inc. (Nasdaq: SEER), a leading life sciences company commercializing a disruptive new platform for proteomics, today reported financial results for the second quarter ended June 30, 2025.
Recent Highlights
- Achieved revenue of
$4.1 million for the second quarter of 2025 - Launched new high-throughput Proteograph ONE assay and SP200 automation instrument, enabling previously unattainable scale and efficiency
- Announced a collaboration with Korea University to launch a 20,000-sample population-scale proteomics study utilizing the Proteograph ONE assay to develop AI-driven diagnostics for cancers in young adults
- Accelerated third-party validation through impactful data presentations and publications from key opinion leaders at recent conferences
- Ended the quarter with approximately
$263.3 million of cash, cash equivalents and investments
“Our team delivered a solid second quarter and achieved a pivotal milestone with the launches of our high-throughput Proteograph ONE assay and SP200 instrument, which significantly enhance the scalability and efficiency of our platform,” said Omid Farokhzad, Chair and CEO of Seer. “Seer was founded on the belief that we could transform the field of deep, unbiased proteomics. It’s incredibly rewarding to see that vision come to fruition, with our technology now powering multiple population-scale studies. I’m deeply proud of our team’s relentless focus on innovation and execution, even with continued macroeconomic pressures affecting our customer base.”
Second Quarter 2025 Financial Results
Revenue was
Gross profit was
Operating expenses were
Net loss was
Cash, cash equivalents and investments were approximately
2025 Guidance
Seer continues to expect full year 2025 revenue to be in the range of
Webcast Information
Seer will host a conference call to discuss the second quarter 2025 financial results on Wednesday, August 6, 2025 at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at https://investor.seer.bio. The webcast will be archived and available for replay for at least 90 days after the event.
About Seer
Seer, Inc. (Nasdaq: SEER) sets the standard in deep, unbiased proteomics—delivering insights with a scale, speed, precision, and reproducibility previously unattainable. Seer’s Proteograph® Product Suite uniquely integrates proprietary engineered nanoparticles, streamlined automation instrumentation, optimized consumables, and advanced analytical software to solve challenges that conventional methods have failed to overcome. Traditional proteomic technologies have historically struggled with inconsistent data, limited throughput, and prohibitive complexity, but Seer’s robust and scalable workflow consistently reveals biological insights that others do not. Seer’s products are for research use only and are not intended for diagnostic procedures. For more information about Seer’s differentiated approach and ongoing leadership in proteomics, visit www.seer.bio.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on Seer’s beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause Seer’s actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to statements regarding Seer’s expectations for future results of operations and its financial position, business strategy, partnerships, adoption of our products and outlook for fiscal year 2025. These and other risks are described more fully in Seer’s filings with the Securities and Exchange Commission (“SEC”) and other documents that Seer subsequently files with the SEC from time to time. Except to the extent required by law, Seer undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Contact:
Carrie Mendivil
investor@seer.bio
Media Contact:
Patrick Schmidt
pr@seer.bio
| SEER, INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (in thousands, except share and per share amounts) | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue: | ||||||||||||||||
| Product | $ | 2,726 | $ | 1,761 | $ | 5,616 | $ | 3,429 | ||||||||
| Service | 797 | 682 | 2,000 | 1,090 | ||||||||||||
| Related party | 409 | 583 | 461 | 1,537 | ||||||||||||
| Other | 119 | 46 | 179 | 82 | ||||||||||||
| Total revenue | 4,051 | 3,072 | 8,256 | 6,138 | ||||||||||||
| Cost of revenue: | ||||||||||||||||
| Product | 1,167 | 701 | 2,541 | 1,692 | ||||||||||||
| Service | 395 | 362 | 926 | 631 | ||||||||||||
| Related party | 69 | 156 | 139 | 468 | ||||||||||||
| Other | 309 | 122 | 478 | 255 | ||||||||||||
| Total cost of revenue | 1,940 | 1,341 | 4,084 | 3,046 | ||||||||||||
| Gross profit | 2,111 | 1,731 | 4,172 | 3,092 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 11,985 | 12,734 | 23,335 | 24,999 | ||||||||||||
| Selling, general and administrative | 10,656 | 16,093 | 22,098 | 30,381 | ||||||||||||
| Total operating expenses | 22,641 | 28,827 | 45,433 | 55,380 | ||||||||||||
| Loss from operations | (20,530 | ) | (27,096 | ) | (41,261 | ) | (52,288 | ) | ||||||||
| Other income (expense): | ||||||||||||||||
| Interest income | 2,992 | 4,433 | 6,209 | 9,019 | ||||||||||||
| Loss on equity method investment | (1,841 | ) | — | (3,416 | ) | — | ||||||||||
| Other income (expense) | 3 | (187 | ) | (755 | ) | (260 | ) | |||||||||
| Total other income | 1,154 | 4,246 | 2,038 | 8,759 | ||||||||||||
| Loss before provision for income taxes | (19,376 | ) | (22,850 | ) | (39,223 | ) | (43,529 | ) | ||||||||
| Provision for income taxes | 48 | — | 149 | — | ||||||||||||
| Net loss | $ | (19,424 | ) | $ | (22,850 | ) | $ | (39,372 | ) | $ | (43,529 | ) | ||||
| Other comprehensive loss: | ||||||||||||||||
| Unrealized gain (loss) on available-for-sale securities | 2 | (105 | ) | 171 | (434 | ) | ||||||||||
| Comprehensive loss | $ | (19,422 | ) | $ | (22,955 | ) | $ | (39,201 | ) | $ | (43,963 | ) | ||||
| Net loss per share attributable to Class A and Class B common stockholders, basic and diluted | $ | (0.33 | ) | $ | (0.35 | ) | $ | (0.67 | ) | $ | (0.67 | ) | ||||
| Weighted-average shares used in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted | 58,087,565 | 64,576,399 | 58,744,490 | 64,581,228 | ||||||||||||
| SEER, INC. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share and per share amounts) | ||||||||
| June 30, 2025 | December 31, 2024 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 37,931 | $ | 40,753 | ||||
| Short-term investments | 171,895 | 195,657 | ||||||
| Accounts receivable, net | 3,905 | 3,997 | ||||||
| Related party receivables | 409 | 379 | ||||||
| Other receivables | 1,400 | 1,853 | ||||||
| Inventory | 7,512 | 7,436 | ||||||
| Prepaid expenses and other current assets | 2,586 | 3,248 | ||||||
| Total current assets | 225,638 | 253,323 | ||||||
| Long-term investments | 53,426 | 63,103 | ||||||
| Operating lease right-of-use assets | 21,657 | 22,791 | ||||||
| Property and equipment, net | 16,496 | 18,575 | ||||||
| Restricted cash | 524 | 524 | ||||||
| Other assets | 4,746 | 8,281 | ||||||
| Total assets | $ | 322,487 | $ | 366,597 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 2,672 | $ | 4,621 | ||||
| Accrued expenses | 6,106 | 7,937 | ||||||
| Deferred revenue | 540 | 408 | ||||||
| Operating lease liabilities, current | 2,441 | 2,312 | ||||||
| Other current liabilities | 26 | 50 | ||||||
| Total current liabilities | 11,785 | 15,328 | ||||||
| Operating lease liabilities, net of current portion | 22,390 | 23,652 | ||||||
| Other noncurrent liabilities | 20 | 48 | ||||||
| Total liabilities | 34,195 | 39,028 | ||||||
| Commitments and contingencies | ||||||||
| Stockholders’ equity: | ||||||||
| Preferred stock, | — | — | ||||||
| Class A common stock, | 1 | 1 | ||||||
| Class B common stock, | — | — | ||||||
| Additional paid-in capital | 719,728 | 719,804 | ||||||
| Accumulated other comprehensive gain | 307 | 136 | ||||||
| Accumulated deficit | (431,744 | ) | (392,372 | ) | ||||
| Total stockholders’ equity | 288,292 | 327,569 | ||||||
| Total liabilities and stockholders’ equity | $ | 322,487 | $ | 366,597 | ||||
FAQ
What was Seer's (SEER) revenue growth in Q2 2025?
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