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Edge20 Feb 2026
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Seer
Seer (SEER) investor relations material
Seer Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary26 Feb, 2026
Executive summary
2025 revenue reached $16.6 million, up 17% year-over-year, with Q4 revenue at $4.2 million and a 67% increase in installed base to 82 instruments.
Consumable kit volume rose 69% year-over-year, and cumulative publications nearly doubled, reflecting strong scientific validation.
Launched ProVue Lung, a proteomics-based LDT for early lung cancer detection, and enabled the first diagnostic test on the platform.
Ended 2025 with $241 million in cash, cash equivalents, and investments, maintaining disciplined expense management and no debt.
Results were impacted by delayed NIH funding, budgetary pressures, and cautious customer spending.
Financial highlights
Q4 2025 revenue was $4.2 million, up 5% year-over-year; full year revenue was $16.6 million, up from $14.2 million in 2024.
Gross margin for Q4 2025 was 52%, and for the full year was 51%.
Operating expenses for 2025 were $86.5 million, down 19% year-over-year.
Net loss for 2025 was $73.6 million, improved from $86.6 million in 2024.
Free cash flow loss improved to $45.6 million from $49.4 million in 2024.
Outlook and guidance
2026 revenue guidance is $16–18 million, representing approximately 3% growth at the midpoint.
Guidance reflects ongoing pressure on instrument placements and project funding due to uncertain NIH funding.
Growth catalysts include new product innovation, expanded installed base utilization, and leadership in AI-driven proteomics.
Potential upside exists if additional population-scale studies are secured in 2026.
How to accelerate 2026 revenue growth beyond guidance?
New products' impact on market expansion?
How to improve consumable pull-through per instrument?
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Next Seer earnings date
TD Cowen 46th Annual Health Care Conference4 Mar, 2026
Seer
Next Seer earnings date
TD Cowen 46th Annual Health Care Conference4 Mar, 2026
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Frequently asked questions
Seer Inc develops life sciences technologies intended to enable discovery of proteomic biomarkers with high throughput and precision. The company’s products support research in areas such as biomarker identification, disease detection, and therapeutic development. Seer serves pharmaceutical, academic, and research institutions in the life sciences sector. The company is headquartered in Redwood City, California, and its shares are listed on the NASDAQ.
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