Seer, Inc. Reports 23% Revenue Decline and $16.9 Million Net Loss in Q2 2026

Seer, Inc. reported a decline in financial performance for the second quarter of 2026, with total revenue of $3.1 million, a decrease of 23% compared to $4.1 million in the same period of 2025. The company's product revenue fell to $2.3 million from $2.7 million, while service revenue also dropped significantly from $1.2 million to $0.7 million. For the first half of 2026, Seer generated $5.9 million in revenue, down 29% from $8.3 million in the first half of 2025. The company recorded a net loss of $16.9 million for the quarter, an improvement from the $19.4 million loss in the prior year, and a total net loss of $33.7 million for the first six months of 2026, compared to $39.4 million in the same period of 2025.

In terms of operational metrics, Seer’s cash and cash equivalents decreased to $26.1 million as of June 30, 2026, down from $47.3 million at the end of 2025. The company’s accumulated deficit increased to $499.7 million, reflecting ongoing investments in research and development and commercialization efforts. Seer’s employee headcount remained stable, with a focus on enhancing its sales and marketing capabilities to drive adoption of its Proteograph Product Suite, which is designed to provide deep insights into the proteome.

Strategically, Seer has continued to invest in its Proteograph Product Suite, which includes the Proteograph ONE assay and SP200 automation instrument launched in May 2025. The company aims to expand its market presence both domestically and internationally, with 57% of its revenue for the quarter coming from outside the United States, compared to 33% in the same period last year. Seer is also actively pursuing partnerships and collaborations to enhance its product offerings and market reach.

Looking ahead, Seer anticipates continued operating losses as it invests in the commercialization of its products and the expansion of its infrastructure. The company believes its current cash reserves and investments will support operations for at least the next twelve months. However, it acknowledges the potential need for additional capital to fund its growth initiatives, which may include further investments in research and development, marketing, and potential acquisitions. The company remains focused on achieving broader market acceptance of its Proteograph Product Suite while navigating the challenges of a competitive landscape in the life sciences technology sector.