Seer Q1 revenue down 24% YoY to $3.1M; net loss narrows to $20.7M; authorizes $25M buyback

Seer, Inc.

2024-Q1 EPS reported -$0.32 revenue$3,066,000

Revenue $3.1M (-24% YoY); product revenue $2.5M (incl. $828K related party), service $534K.
Net loss $20.7M improved from $24.0M; gross margin 44%; operating expenses $26.6M (-10% YoY).
Cash and investments $359.2M; board authorized up to $25M share repurchase program.
FY2024 revenue guidance of $16M-$18M, essentially flat vs FY2023 revenue.
Expanding Proteograph STAC program to Europe; three new peer-reviewed publications supporting platform.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Seer, Inc. reported the first quarter ended March 31, 2024 results: revenue $3.1 million. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $3.1 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

commercializing a disruptive new platform for proteomics, today reported financial results for the first quarter ended March 31, 2024. Recent Highlights • Achieved revenue of $3.1 million for the first quarter of 2024 • Announced the expansion of the Seer Technology Access Center (STAC) program to Europe, providing researchers with end-to-end services from sample

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Source: SEC EDGAR

accession 0000950170-24-055694

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