Yahoo Finance

• Fourth Quarter Revenue: $4 million, a decrease of 10% from $4.4 million in Q4 2023.

• Full Year Revenue: $14.2 million, a decrease of 15% from $16.7 million in 2023.

• Gross Margin (Q4 2024): 51%, up from 45% in Q4 2023.

• Net Loss (Q4 2024): $21.7 million, compared to $17.8 million in Q4 2023.

• Net Loss (Full Year 2024): $86.6 million, compared to $86.3 million in 2023.

• Cash, Cash Equivalents, and Investments: Approximately $300 million as of December 31, 2024.

• Share Repurchase: Approximately 6.5 million shares repurchased, reducing shares outstanding by 10% to 59 million.

• Free Cash Flow Loss (Full Year 2024): $49.4 million, down from $66.4 million in 2023.

• 2025 Revenue Guidance: Expected to be in the range of $17 million to $18 million.

• Warning! GuruFocus has detected 3 Warning Sign with SEER.

Release Date: February 27, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Seer Inc (NASDAQ:SEER) reported a total revenue of $14.2 million for 2024, with a strong cash position of approximately $300 million.

• The company successfully repurchased approximately 6.5 million shares, reducing the total shares outstanding by about 10%.

• Seer Inc (NASDAQ:SEER) expanded its global reach, serving over 135 customers across 20 countries, and doubled its commercial team in North America.

• The Proteograph Product Suite has been validated through 33 customer publications, with 23 new peer-reviewed publications in 2024.

• Seer Inc (NASDAQ:SEER) has formed a strategic partnership with Thermo Fisher Scientific to co-market and sell the Proteograph Product Suite, enhancing commercial reach.

Negative Points

• Total revenue for 2024 decreased by 15% compared to 2023, primarily due to lower product sales and no grant revenue.

• The company reported a net loss of $86.6 million for the full year 2024, slightly higher than the $86.3 million loss in 2023.

• Seer Inc (NASDAQ:SEER) experienced a 10% decrease in fourth-quarter revenue compared to the same period in 2023, due to lower instrument sales.

• There is ongoing uncertainty regarding NIH and government funding, which could impact a portion of Seer Inc (NASDAQ:SEER)'s revenue in 2025.

• The company faces challenges with elongated sales cycles and pressure on CapEx budgets, affecting the outright purchase of new instruments.

Q & A Highlights

Q: How should we think about the split between instruments and consumables in 2025, and what is the expected pacing for the first and second half of the year? A: Omid Farokhzad, CEO, noted that 2024 was challenging for CapEx, with instrument placements skewed towards the latter half of the year. For 2025, they anticipate a different pace, with a stronger start due to a robust pipeline. David Horn, CFO, added that the product revenue breakdown will likely mirror 2024, with product revenue comprising about 72% and service revenue 27%. They expect more instrument placements and increased interest in larger projects.