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Mar 31, 2025
Seer Q1 2025 Earnings Report
Seer reported Q1 2025 revenue of $4.2 million, driven by strong product and service sales, and reiterated its full-year revenue guidance.
Key Takeaways
Seer achieved $4.2 million in revenue during Q1 2025, reflecting 37% year-over-year growth. Improved gross profit of $2.1 million and a stable cash position of $285 million highlighted the quarter, though net losses persisted at $19.9 million.
Revenue grew 37% YoY to $4.2 million in Q1 2025
Gross margin improved to 49% with gross profit of $2.1 million
Operating expenses declined 14% due to lower stock-based compensation
Cash, cash equivalents, and investments stood at $285 million at quarter-end
Revenue by Segment
Forward Guidance
Seer reiterated its full-year 2025 revenue guidance of $17–18 million, aiming for 24% growth at the midpoint. The company remains confident in long-term market adoption of its Proteograph platform despite macroeconomic volatility.
Positive Outlook
- Full-year 2025 revenue guidance reaffirmed at $17–18 million
- Signed major customer contract for 10,000-sample study
- Shipped as many instruments in Q1 2025 as all of 2024
- Strong validation through third-party publications and preprints
- Operating expenses decreased due to reduced stock-based comp
Challenges Ahead
- Net loss of $19.9 million remains significant
- Continued macroeconomic headwinds for life sciences industry
- Gross margin below 50%, limiting profitability
- Reduction in related party revenue YoY
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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