SEER

MKT CAP:$111M

Seer, Inc.

Market Cap

$111M

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$1.94+$0.12 (+6.59%)

Apr 23, 2026

Company Details

Seer, Inc., a life sciences company, engages in developing and commercializing products to decode the secrets of the proteome. It develops Proteograph Product Suite, an integrated solution that comprises consumables, an automation instrumen...

CEO

Omid C. Farokhzad

IPO Date

Dec 4, 2020

Website

seer.bio

Key Metrics TTM

Revenue

$17M

+18.2% YoY

Net Income

-$74M

EPS (Diluted)

-$1.28

Free Cash Flow

-$46M

Revenue / Share

$0.29

Gross Margin

51.1%

Operating Margin

-470.5%

Net Margin

-444.0%

FCF Margin

-279.0%

P/S

6.7x

P/E

—

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 2, 2026

$17M+18.9%EPS -$1.28

Q4 2025

Mar 2, 2026

$4M+6.4%EPS -$0.29

Q3 2025

Nov 6, 2025

$4M+4.5%EPS -$0.32

Q2 2025

Aug 6, 2025

$4M+31.9%EPS -$0.33

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$3M	$369.0K	-$24M
Q2 22	$4M	$708.0K	-$23M
Q3 22	$4M	$882.0K	-$25M
Q4 22	$4M	$2M	-$25M
Q1 23	$4M	$762.0K	-$27M
Q2 23	$4M	$923.0K	-$28M
Q3 23	$4M	$658.0K	-$26M
Q4 23	$4M	$2M	-$22M
Q1 24	$3M	-$133.0K	-$25M
Q2 24	$3M	$229.0K	-$27M
Q3 24	$4M	$2M	-$24M
Q4 24	$4M	$366.0K	-$24M
Q1 25	$4M	$2M	-$21M
Q2 25	$4M	$2M	-$21M
Q3 25	$4M	$2M	-$19M
Q4 25	$4M	$2M	-$17M

Valuation

Quarter	P/S	P/E
Q1 22	87.0x	—
Q2 22	43.9x	—
Q3 22	35.9x	—
Q4 22	21.7x	—
Q1 23	15.5x	—
Q2 23	16.4x	—
Q3 23	8.9x	—
Q4 23	7.4x	—
Q1 24	7.8x	—
Q2 24	7.1x	—
Q3 24	8.5x	—
Q4 24	9.9x	—
Q1 25	6.8x	—
Q2 25	7.9x	—
Q3 25	7.9x	—
Q4 25	6.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$19M	-$20M
Q2 22	-$14M	-$16M
Q3 22	-$13M	-$16M
Q4 22	-$14M	-$19M
Q1 23	-$19M	-$19M
Q2 23	-$15M	-$16M
Q3 23	-$14M	-$19M
Q4 23	-$10M	-$12M
Q1 24	-$10M	-$11M
Q2 24	-$10M	-$11M
Q3 24	-$14M	-$16M
Q4 24	-$11M	-$11M
Q1 25	-$11M	-$12M
Q2 25	-$15M	-$15M
Q3 25	-$8M	-$8M
Q4 25	-$11M	-$11M

Capital Expenditures

Quarter	CapEx
Q1 22	$1M
Q2 22	$2M
Q3 22	$3M
Q4 22	$5M
Q1 23	$121.0K
Q2 23	$1M
Q3 23	$4M
Q4 23	$2M
Q1 24	$754.0K
Q2 24	$1M
Q3 24	$2M
Q4 24	$536.0K
Q1 25	$654.0K
Q2 25	$568.0K
Q3 25	$283.0K
Q4 25	$292.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+64.3%
Q2 22	+171.4%	+50.3%
Q3 22	+84.4%	+41.0%
Q4 22	+27.3%	+25.6%
Q1 23	+22.4%	+16.2%
Q2 23	+10.7%	+18.1%
Q3 23	+5.2%	+3.4%
Q4 23	+8.3%	-8.3%
Q1 24	-24.4%	-10.3%
Q2 24	-23.4%	-5.6%
Q3 24	-5.3%	-5.8%
Q4 24	-5.5%	+4.1%
Q1 25	+37.1%	-11.8%
Q2 25	+31.9%	-18.5%
Q3 25	+4.5%	-17.0%
Q4 25	+6.4%	-21.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$8M	243.4%
Q2 22	$8M	231.4%
Q3 22	$9M	229.4%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$8M	200.2%
Q4 23	$8M	182.2%
Q1 24	$8M	247.2%
Q2 24	$8M	249.5%
Q3 24	$7M	165.5%
Q4 24	$6M	163.1%
Q1 25	$5M	110.9%
Q2 25	$4M	95.6%
Q3 25	$4M	87.2%
Q4 25	$3M	78.2%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 22	$10M	$14M
Q2 22	$10M	$14M
Q3 22	$11M	$15M
Q4 22	$13M	$15M
Q1 23	$13M	$15M
Q2 23	$13M	$16M
Q3 23	$12M	$15M
Q4 23	$11M	$13M
Q1 24	$11M	$14M
Q2 24	$11M	$16M
Q3 24	$13M	$13M
Q4 24	$11M	$13M
Q1 25	$11M	$11M
Q2 25	$12M	$11M
Q3 25	$11M	$11M
Q4 25	$10M	$10M

Revenue Segments

Quarter	Grant	Product	Related Party	Service	Grant and Other
Q1 22	$14.0K	$2M	$1M	$79.0K	—
Q2 22	$50.0K	$2M	$1M	$57.0K	—
Q3 22	—	$3M	$1M	$68.0K	—
Q4 22	—	$1M	$2M	$709.0K	—
Q1 23	—	$2M	$1M	$69.0K	$335.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$225M	$220M	$445M
Q2 22	$79M	$372M	$451M
Q3 22	$68M	$368M	$436M
Q4 22	$53M	$368M	$421M
Q1 23	$48M	$304M	$352M
Q2 23	$56M	$264M	$320M
Q3 23	$36M	$295M	$331M
Q4 23	$32M	$284M	$316M
Q1 24	$54M	$254M	$309M
Q2 24	$32M	$252M	$283M
Q3 24	$38M	$210M	$248M
Q4 24	$41M	$196M	$236M
Q1 25	$52M	$187M	$240M
Q2 25	$38M	$172M	$210M
Q3 25	$45M	$154M	$199M
Q4 25	$47M	$139M	$186M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	62M	+0.7%	+3.5%
Q2 22	62M	+0.6%	+2.5%
Q3 22	63M	+0.3%	+2.3%
Q4 22	63M	+0.4%	+2.0%
Q1 23	64M	+1.2%	+2.5%
Q2 23	64M	+0.3%	+2.2%
Q3 23	64M	+0.3%	+2.2%
Q4 23	64M	+0.4%	+2.2%
Q1 24	65M	+0.7%	+1.6%
Q2 24	65M	-0.0%	+1.3%
Q3 24	61M	-5.2%	-4.3%
Q4 24	61M	0.0%	-4.6%
Q1 25	59M	-2.9%	-8.0%
Q2 25	58M	-2.2%	-10.0%
Q3 25	56M	-3.1%	-8.0%
Q4 25	57M	+2.0%	-6.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$28.1K	118
Q2 22	$30.7K	118
Q3 22	$33.5K	118
Q4 22	$23.5K	164
Q1 23	$24.7K	164
Q2 23	$24.4K	164
Q3 23	$25.4K	164
Q4 23	$28.4K	147
Q1 24	$20.9K	147
Q2 24	$20.9K	147
Q3 24	$26.8K	147
Q4 24	$12.2K	325
Q1 25	$12.9K	325
Q2 25	$12.5K	325
Q3 25	$12.7K	325
Q4 25	$2.3K	2K

Revenue / Employee