Seer Q3 2025 revenue $4.1M, net loss $18.2M; reaffirms FY25 revenue guidance $17-18M

Seer, Inc.

Revenue $4.1M (+2% YoY); product revenue $2.8M, service revenue $1.2M, including $300K related party.
Gross margin 51%; operating expenses $21.5M (down 18% YoY) driven by lower stock-based comp and costs.
Net loss $18.2M vs $21.3M Q3 2024; cash, equivalents and investments $251.2M.
Shipped nearly 3x instruments in first 9 months of 2025 compared to all of 2024; record publications.
FY2025 revenue guidance reaffirmed at $17M-$18M, representing ~24% growth at midpoint over FY2024.

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