Seer, Inc. Reports 32% Revenue Growth to $4.1 Million in Q2 2025

Seer, Inc. reported a total revenue of $4.1 million for the three months ended June 30, 2025, marking a 32% increase from $3.1 million in the same period last year. The growth was driven by a significant rise in product sales, which reached $2.7 million, up 55% from $1.8 million, and service revenue, which increased by 17% to $797,000. For the first half of 2025, the company generated $8.3 million in revenue, a 35% increase compared to $6.1 million in the first half of 2024. Despite this revenue growth, Seer reported a net loss of $19.4 million for the second quarter, a slight improvement from a loss of $22.9 million in the prior year, and a total net loss of $39.4 million for the first half of 2025, down from $43.5 million.

The company’s cost of revenue also increased, totaling $1.9 million for the second quarter, up 45% from $1.3 million a year earlier, primarily due to higher sales volumes of consumables. Gross profit for the quarter was $2.1 million, reflecting a 22% increase from $1.7 million in the same quarter of 2024. Operating expenses decreased significantly, totaling $22.6 million for the second quarter, down 21% from $28.8 million, driven by reductions in selling, general, and administrative expenses, which fell by 34% to $10.7 million.

In terms of strategic developments, Seer launched the new Proteograph Product Suite in May 2025, which includes the Proteograph ONE Assay and SP200 Automation Instrument. This launch aims to enhance the scalability and affordability of deep proteomic analysis, addressing previous limitations in the industry. The company is focused on expanding its commercial presence both domestically and internationally, with a particular emphasis on building sales and marketing capabilities in the United States, Europe, and Asia-Pacific regions.

Operationally, Seer reported a decrease in its employee headcount, with 56.3 million shares of Class A common stock outstanding as of June 30, 2025, down from 59.1 million at the end of 2024. The company continues to face challenges in achieving profitability, with an accumulated deficit of $431.7 million as of June 30, 2025. Seer maintains a strong liquidity position, with cash, cash equivalents, and investments totaling $263.3 million, which management believes will support operations for at least the next twelve months.

Looking ahead, Seer anticipates continued investment in its commercialization efforts and infrastructure development, which may lead to increased operating expenses. The company does not expect to achieve positive cash flows from operations in the near term but remains committed to expanding its market presence and enhancing its product offerings.