Seer, Inc. Reports 37% Revenue Growth to $4.2 Million in Q1 2025

Seer, Inc. reported its financial results for the first quarter of 2025, revealing a total revenue of $4.2 million, a 37% increase from $3.1 million in the same period last year. The growth was primarily driven by a significant rise in product sales, which reached $2.9 million, up 73% from $1.7 million, and service revenue, which increased to $1.2 million from $408,000. Despite this revenue growth, the company recorded a net loss of $19.9 million, slightly improved from a loss of $20.7 million in the prior year, reflecting ongoing investments in its commercialization efforts.

In terms of operational metrics, Seer’s total operating expenses decreased to $22.8 million from $26.6 million, a reduction of 14%. This decline was attributed to lower selling, general, and administrative expenses, which fell by 20% to $11.4 million, primarily due to decreased stock-based compensation. Research and development expenses also saw a decrease of 7%, totaling $11.4 million, as the company continues to streamline its operations while focusing on the development of its Proteograph Product Suite.

Seer’s cash and cash equivalents increased to $52.4 million as of March 31, 2025, compared to $40.8 million at the end of 2024. The company also reported total assets of $347.3 million, down from $366.6 million at the end of the previous fiscal year. The decrease in total assets was largely due to a reduction in long-term investments. The company’s accumulated deficit grew to $412.3 million, reflecting its ongoing investment in growth and development.

The company continues to focus on expanding its market presence, particularly in international markets, and enhancing the adoption of its Proteograph Product Suite. Seer is actively building its sales and marketing infrastructure to support this growth strategy. As of March 31, 2025, the company had approximately 59.4 million shares outstanding, with a slight increase in the number of shares due to stock-based compensation and share repurchase activities.

Looking ahead, Seer anticipates continued investment in its commercialization efforts and expects to incur significant operating losses in the near term. The company believes its current cash reserves will be sufficient to support operations for at least the next twelve months, as it aims to achieve broader market acceptance of its products and services.