Seer Q3 revenue $4.0M, net loss $24.0M; FY2022 guidance reaffirmed

Seer, Inc.

2022-Q3 EPS reported -$1.13 revenue$10,888,000

Revenue of $4.0M, up 82% YoY from $2.2M, driven by Proteograph product suite sales.
Net loss of $24.0M vs $18.4M in Q3 2021; operating expenses $27.0M including $9.1M stock-based comp.
Gross margin 49%; cash, cash equivalents and investments $441.0M at Sep 30, 2022.
Full-year 2022 revenue guidance reaffirmed at $14.0M to $16.0M.
Published results in Advanced Materials; customer adoption increasing with multiple studies underway.

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 third quarter ended September 30, 2022 results: revenue $4.0 million, net income $24.0 million.

Period: the third quarter ended September 30, 2022
Revenue: $4.0 million
Net income: $24.0 million
Result: reported results

Exact text from the filing

Revenue was $4.0 million for the three months ended September 30, 2022, as compared to $2.2 million for the three months ended September 30, 2021. The increase was primarily due to increased sales of the Proteograph Product Suite and its related products. Product-related revenue for the third quarter of 2022 was $3.9 million, including $1.3 million of related party revenue, and consisted of sales of SP100 instruments, consumable kits and platform evaluations. Gross profit was $1.9 million and gross margin was 49% for the third quarter of 2022. Operating expenses were $27.0 million for the third quarter of 2022, including $9.1 million of stock-based compensation, as compared to $19.6 million, including $6.8 million of stock-based compensation, for the corresponding prior year period. The increase in expenses was driven by increased employee compensation and other related expenses, including stock-based compensation, and increased expenses related to the expansion of the company’s facili

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Seer, Inc. updated its full year 2022 guidance (reaffirmed).

Period: full year 2022
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Seer continues to expect full year 2022 revenue to be in the range of $14.0 million to $16.0 million.

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Seer, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-22-028914

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