Quarterly ResultMay 13, 2026, 04:23 PM
Seer Q1 Revenue $2.8M, Net Loss $16.8M; Reaffirms FY26 Outlook
AI Summary
Seer, Inc. reported first quarter 2026 financial results, with revenue decreasing 34% year-over-year to $2.8 million, primarily due to a depressed academic funding environment and competitive activity. Despite the revenue decline, the company improved its net loss to $16.8 million from $19.9 million in the prior year, driven by a 20% reduction in operating expenses. Seer reaffirmed its full-year 2026 revenue guidance of $16 million to $18 million and highlighted strategic achievements including a collaboration with Precision Health Research, Singapore, and the repurchase of approximately 1.5 million shares.
Key Highlights
- Q1 2026 revenue was $2.8 million, a 34% decrease from $4.2 million in Q1 2025.
- Net loss for Q1 2026 was $16.8 million, an improvement from $19.9 million in Q1 2025.
- Gross profit was $982 thousand and gross margin was 35% for Q1 2026.
- Operating expenses decreased 20% to $18.2 million in Q1 2026 from $22.8 million in Q1 2025.
- Repurchased approximately 1.5 million Class A common shares.
- Ended Q1 2026 with approximately $220 million in cash, cash equivalents, and investments.
- Reaffirmed full year 2026 revenue guidance in the range of $16 million to $18 million.
- Secured collaboration with Precision Health Research, Singapore for 10,000 samples.