SEER INC (NASDAQ:SEER) Reports Q3 2025 Results with Narrow Revenue Beat and Reduced Losses

Seer Inc (NASDAQ:SEER) Reports Q3 2025 Results: Narrow Revenue Beat and Reduced Losses Amidst Ongoing Adoption

Seer Inc has released its financial results for the third quarter of 2025, presenting a mixed financial picture characterized by a slight revenue beat against analyst expectations and a narrowing net loss. The company's performance and its provided outlook offer investors a clear view of its current growth trajectory and financial health.

Earnings and Revenue Performance Versus Estimates

The company's top and bottom-line results for the quarter ended September 30, 2025, came in close to, or slightly better than, market expectations.

• Revenue: Seer reported revenue of $4.1 million, narrowly surpassing the analyst consensus estimate of $4.08 million. This represents a 2% increase from the $4.0 million reported in the same period last year.
• Earnings Per Share (EPS): The company posted a non-GAAP net loss per share of $0.32. This was slightly wider than the estimated loss of $0.306 per share that analysts had projected.

The modest revenue beat was primarily driven by higher product and service revenue. Product revenue, generated from sales of Proteograph instruments and consumable kits, accounted for $2.8 million of the total.

Financial Health and Operational Highlights

Beyond the headline earnings figures, the press release detailed several key financial and operational metrics that illustrate the company's current state.

• Gross Margin: The company maintained a gross profit of $2.1 million, with a gross margin of 51%.
• Cost Management: Operating expenses saw a significant decrease of 18% to $21.5 million, down from $26.3 million in the prior year period. This reduction was largely attributed to lower stock-based compensation and other business expenses.
• Net Loss: The net loss for the quarter was $18.2 million, an improvement from the $21.3 million loss reported in Q3 2024.
• Cash Position: Seer ended the quarter with a strong cash, cash equivalents, and investments balance of approximately $251.2 million, providing a substantial runway for continued operations and investment.
• Business Momentum: CEO Omid Farokhzad highlighted "robust demand" for the Proteograph ONE workflow, noting that the company shipped nearly three times as many instruments in the first nine months of 2025 as it did in all of 2024. A record number of third-party publications were also cited as validation for the technology.

Forward Guidance and Market Reaction

Management provided its full-year 2025 revenue guidance, reaffirming expectations for revenue to be in the range of $17 million to $18 million. At the midpoint, this represents a 24% growth over the full year 2024. This outlook can be compared to the analyst consensus estimate for full-year 2025 sales of $17.85 million, suggesting the company's internal forecast is slightly more conservative than market expectations.

The initial market reaction appears cautiously positive. Following the earnings release, the stock saw an after-market increase of approximately 0.46%. This muted but positive movement suggests that investors are weighing the slight revenue beat and improved cost controls against the ongoing net losses and an outlook that is roughly in line with expectations.

Conclusion

Seer's third-quarter results depict a company executing on its commercial strategy, evidenced by growing instrument shipments and a narrow revenue beat. The significant reduction in operating expenses and a robust cash position are positive indicators of financial discipline. However, the path to profitability remains a central focus, as the company continues to post substantial net losses. The market's tempered positive reaction reflects this balanced view of progress against persistent challenges.

For a more detailed breakdown of past earnings and future analyst estimates for Seer Inc, you can review the data here.

Disclaimer: This article is for informational purposes only and is not intended as investment advice. The author has no position in SEER. All investment decisions should be based on your own research and risk tolerance.