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Sera Prognostics (SERA) investor relations material
Sera Prognostics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Advanced commercialization of the PreTRM test, focusing on Medicaid pilots and payer engagement across 13 states, covering over a third of U.S. births annually.
Published positive results from the AVERT PRETERM TRIAL and PRIME study, showing reductions in neonatal morbidity, mortality, and hospital stays, with further data dissemination and educational initiatives planned.
Leadership team strengthened with key hires in medical and commercial roles, including a new Chief Medical Officer and Head of Commercial Operations, to support adoption and integration.
Operating under a streamlined commercial model to preserve capital, with plans to scale as adoption grows.
Operates as a single segment focused on developing and commercializing medical diagnostic products and services.
Financial highlights
Q3 2025 net revenue was $16,000, down from $29,000 year-over-year; nine-month revenue was $71,000, up from $53,000 year-over-year.
Deferred revenue increased by $100,000 due to prepayment from the Nevada Medicaid pilot.
Operating expenses were $9.0 million, up slightly from $8.9 million in Q3 2024.
Net loss for Q3 2025 was $7.8 million, a slight improvement from $7.9 million in Q3 2024; nine-month net loss was $24.0 million, slightly improved from $24.3 million year-over-year.
Cash, cash equivalents, and marketable securities totaled $102.4 million as of September 30, 2025.
Outlook and guidance
PRIME study publication expected imminently, with guideline inclusion targeted 24–36 months post-publication.
Sufficient liquidity is expected to fund operations through significant adoption and commercial milestones into 2028.
Anticipates increased selling and marketing expenses in Q4 2025 and 2026 as commercialization efforts ramp up, while SG&A is expected to remain flat in 2026.
Research and development expenses expected to decrease in 2026 as focus shifts to revenue-generating activities.
Focus on expanding Medicaid pilots, payer coverage, and physician adoption in target geographies.
Value-based care contract progress?
What new PRIME study data will be shared?
Strategy to accelerate guideline inclusion?
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Next Sera Prognostics earnings date
Q4 202518 Mar, 2026
Next Sera Prognostics earnings date
Q4 202518 Mar, 2026
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Frequently asked questions
Sera Prognostics Inc. is a biotechnology company focused on developing diagnostic tests that predict pregnancy-related complications. The company uses proteomic technologies to identify biomarkers that assess the risk of conditions such as preterm birth and other adverse pregnancy outcomes. Sera Prognostics aims to provide healthcare providers with actionable information to improve maternal and neonatal health through early detection and intervention. The company is headquartered in Salt Lake City, Utah, and its shares are listed on the NASDAQ.
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