Seer 2025 Q2 Earnings Slight Earnings Improvement Amid Continued Losses

Seer (SEER) reported mixed results for Q2 2025, with a modest improvement in earnings per share and revenue growth, but ongoing net losses persisted. The company maintained its full-year revenue guidance, indicating in-line expectations for 2025.

Revenue
Seer’s total revenue for the second quarter of 2025 reached $4.05 million, a 31.9% increase from $3.07 million in the same period of 2024. The growth was driven by a strong performance in product and service revenue. Product sales contributed $2.73 million, reflecting demand for Proteograph instruments and consumable kits. Service revenue totaled $1.20 million, with $409,000 stemming from related party transactions, primarily tied to Seer Technology Access Center service projects. Other revenue added $119,000 to the quarter’s results.

Earnings/Net Income
Seer narrowed its loss per share to $0.33 in Q2 2025 from $0.35 in Q2 2024, representing a 5.7% improvement. The net loss also decreased to $19.42 million from $22.85 million, a reduction of 15.0%. Despite these modest gains, the company remains in a long-term net loss position, having recorded losses for the sixth consecutive year in the same quarter. The ongoing losses underscore the company’s financial challenges.

Price Action
The stock price of Seer has faced downward pressure, with a 2.37% drop on the latest trading day, a 5.07% decline over the past week, and a 5.50% decrease month-to-date.

Post-Earnings Price Action Review
The strategy of purchasing Seer shares following a revenue increase in the quarterly report and holding for 30 days has historically underperformed significantly. Over the past three years, this approach returned -77.49%, lagging far behind the benchmark’s 48.58% return. The excess return was -126.07%, and the compound annual growth rate for the strategy was -40.23%, highlighting the stock’s poor post-earnings performance.

CEO Commentary
Omid Farokhzad, Chair and CEO of Seer, praised the team for achieving a pivotal milestone with the launch of the high-throughput Proteograph ONE assay and SP200 automation instrument. He emphasized the company’s progress in advancing deep, unbiased proteomics and highlighted the value of population-scale studies, such as the collaboration with Korea University. Despite macroeconomic headwinds affecting customer demand, Farokhzad expressed pride in the team’s innovation and execution.

Guidance
Seer reaffirmed its full-year 2025 revenue guidance of $17 million to $18 million, representing a 24% growth at the midpoint compared to full-year 2024. The company ended the quarter with $263.3 million in cash, cash equivalents, and investments, providing a strong liquidity position.

Additional News
Seer announced the successful launch of the high-throughput Proteograph ONE assay and SP200 automation instrument, which enhance the scalability and efficiency of its platform. The company also unveiled a collaboration with Korea University to conduct a 20,000-sample population-scale proteomics study using the Proteograph ONE assay to develop AI-driven diagnostics for cancers in young adults. This partnership underscores Seer’s commitment to leveraging its technology for large-scale research. Additionally, Seer highlighted third-party validation efforts, including impactful data presentations and publications at recent conferences by key opinion leaders, which reinforce the scientific credibility of its platform.