Seer, Inc. reported a 5% increase in revenue for the third quarter of 2023, reaching $4.2 million. The increase was driven by higher instrument sales, services, and grant revenue, although this was partially offset by lower consumables sales. The company ended the quarter with $380.8 million in cash, cash equivalents, and investments but anticipates coming in at the lower half of its revenue guidance.
Revenue for Q3 2023 reached $4.2 million, a 5% increase year-over-year.
Product-related revenue was $3.3 million, including $1.4 million from related parties.
Gross profit for Q3 2023 was $2.2 million, with a gross margin of 52%.
Cash, cash equivalents, and investments totaled $380.8 million as of September 30, 2023.
Seer anticipates coming in at the lower half of its revenue guidance range of $16 million to $18 million.
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