Seer, Inc. reported a net loss of $86.6 million for the fiscal year ending December 31, 2024, a slight increase from the $86.3 million loss recorded in the previous year. Total revenue for the year decreased by 15% to $14.2 million, down from $16.7 million in 2023. This decline was primarily attributed to a significant drop in related party revenue, which fell by 51%, and the absence of grant revenue, which had contributed $1.5 million in the prior year. However, service revenue saw a notable increase of 47%, reaching $3 million, indicating a growing demand for Seer’s proteomic data analysis services.
In terms of operational developments, Seer has expanded its customer base to over 135 clients across more than 20 countries since the launch of its Proteograph Product Suite in 2021. The Proteograph leverages proprietary engineered nanoparticle technology to provide researchers with deep, unbiased access to the proteome, facilitating large-scale studies that were previously unfeasible. The company has also launched a new assay, Proteograph XT, which enhances sample throughput and performance, further driving product adoption among biopharmaceutical companies and academic institutions.
Seer’s employee headcount stood at 134 as of December 31, 2024, reflecting a strategic focus on building a robust team to support its commercialization efforts. The company has also implemented a share repurchase program, authorizing the buyback of up to $25 million of its Class A common stock, with $11.8 million utilized in 2024. This move is part of Seer’s strategy to enhance shareholder value while navigating its ongoing financial challenges.
Looking ahead, Seer anticipates continued investment in research and development, sales, and marketing to drive the adoption of the Proteograph Product Suite. The company expects to incur significant losses in the near term as it focuses on expanding its market presence and enhancing its product offerings. Seer’s management believes that its current cash reserves of approximately $299.5 million will be sufficient to support operations for at least the next twelve months, although the company may seek additional capital to fund its growth initiatives.
About Seer, Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.