Seer Inc · Q3 2021 earnings

Briefing

Seer's third quarter results for 2021 showed revenue growth driven by product sales and services, but also increased operating expenses leading to a higher net loss compared to the previous year.

Seer, Inc. reported revenue of $2.2 million for the third quarter of 2021, a significant increase from $72 thousand in the same period of 2020. This growth was primarily driven by sales of products related to the Proteograph Product Suite and services performed for a large pharmaceutical company. However, the company's operating expenses also increased substantially, leading to a net loss of $18.4 million, compared to a net loss of $8.2 million in the prior year period.

• Revenue increased to $2.2 million, up from $72 thousand year-over-year.
• Product-related revenue reached $1.6 million, including $787 thousand from related parties.
• Gross profit was $1.2 million with a gross margin of 54%.
• Net loss increased to $18.4 million due to higher operating expenses.

Headline financials

Revenue & EPS history

Seer anticipates continued commercial momentum leading into the broad release of the Proteograph Product Suite in early 2022.