Seer, Inc. ( (SEER) ) has released its Q4 earnings. Here is a breakdown of the information Seer, Inc. presented to its investors.
Seer, Inc. is a life sciences company specializing in proteomics, offering a transformative platform for deep and unbiased proteomic analysis through its Proteograph Product Suite.
In its latest earnings report, Seer, Inc. announced financial results for the fourth quarter and full year of 2024, highlighting a decrease in revenue compared to the previous year but showcasing significant advancements in technology and strategic partnerships.
The company reported a revenue of $4.0 million for the fourth quarter and $14.2 million for the full year 2024, marking a decrease from the previous year primarily due to lower product sales and the absence of grant revenue. Despite this, Seer successfully shipped 10 instruments in 2024, launched a new product application for cell lysis proteomics, and expanded its partnership with Thermo Fisher Scientific. The company also repurchased 6.5 million shares, reducing outstanding shares by 10%, and ended the year with $300 million in cash and investments.
Seer’s gross profit for the year was $7.1 million with a gross margin of 50%, while operating expenses decreased by 4% to $107.2 million. The net loss for the year was $86.6 million, slightly higher than the previous year. Looking ahead, Seer expects revenue growth in 2025, projecting a range of $17 million to $18 million, reflecting a 24% increase at the midpoint.
The management remains optimistic about the future, emphasizing the growing demand for their technology and the potential for further expansion in the proteomics market, positioning Seer for a stronger performance in 2025.