Seer Q3 revenue $4.0M, down 3% YoY; FY26 guidance cut to $13.5-$14.5M from $16-$18M

Seer, Inc.

Q3 2026 revenue $4.0M vs $4.1M in Q3 2025 (-3%); product revenue $2.8M, service $1.1M, related party $0.1M, other ~$67,000.
Gross profit $1.9M, gross margin 47%; operating expenses $16.5M, down 23% from $21.5M; net loss $13.7M vs $18.2M a year ago.
FY2026 revenue guidance lowered to $13.5-$14.5M from prior $16-$18M, citing academic/government funding pressure and late-stage deals slipping.
Cash and investments $198.1M at Sept 30; 9-month operating burn $34.5M, free cash flow -$34.8M. Repurchased 13.5M shares at $1.85 avg; $25M left of $50M authorization.
ITC staff recommended full exclusion and cease-and-desist orders after Nanomics withdrew; final determination expected by year-end. Oct 29 review ended with Seer staying independent.

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