0001193125-26-221724
SEC filingQ1 revenue declined 34% to $2.8M amid commercialization challenges, narrowing operating losses 17% to -$17.3M through compensation cost reductions, though operating cash burn worsened to -$15.4M from working capital changes.
Seer reported Q1 FY2026 revenue of $2.8M, down 33.6% from $4.2M in the prior year quarter, primarily reflecting weaker demand for products and services tied to the Proteograph suite. This decline underscores ongoing commercialization headwinds, as the company relies on third-party manufacturing for instruments while producing nanoparticles and assembling assay kits internally. Gross profit contracted more sharply by 52.4% to $982K from $2.1M, yielding a 35.2% gross margin, as revenue mix shifts amplified pressure despite the company's non-exclusive agreement with Hamilton for automation instrument supply.