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Seer (SEER)
NASDAQ:SEER
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Seer
(NASDAQ:SEER)
Rating:55Neutral
Price Target:
$2.00
▼(-5.66%Downside)
Positive Factors
Operational Performance
The number of instruments shipped in the quarter matched the total for the entire previous year, demonstrating strong demand and operational performance.
Revenue Growth
Product revenue grew 73%, exceeding expectations, despite pressure on budgets and extended sales cycles.
Service Expansion
Service revenue increased significantly, driven by STAC-related revenue, highlighting the importance of this service in expanding platform access.
Negative Factors
Government Funding Risk
Uncertain NIH funding is a risk, with significant sales to direct US government labs and US universities.
Product Revenue Decline
Seer, Inc. saw a decline in product revenue driven by a decrease in instrument sales due to pressure on capital expenditure budgets and longer sales cycles.
Revenue Guidance
Revenue guidance remains cautious due to uncertainty around government funding and US tariff policies affecting market visibility.
Seer (SEER) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$124.75M
Dividend YieldN/A
Average Volume (3M)353.44K
Price to Earnings (P/E)―
Beta (1Y)1.44
Revenue Growth-1.02%
EPS Growth-8.59%
CountryUS
Employees134
SectorHealthcare
Sector Strength46
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.34
Shares Outstanding54,801,254
10 Day Avg. Volume171,750
30 Day Avg. Volume353,441
Financial Highlights & Ratios
PEG Ratio-0.16
Price to Book (P/B)0.81
Price to Sales (P/S)0.00
P/FCF Ratio-5.10
Enterprise Value/Market Cap2.72
Enterprise Value/Revenue5.88
Enterprise Value/Gross Profit55.43
Enterprise Value/Ebitda-0.91
Forecast
1Y Price Target
$3.00Price Target Upside41.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Seer Business Overview & Revenue Model
Company DescriptionSeer, Inc., a life sciences company, engages in developing and commercializing products to decode the secrets of the proteome. It develops Proteograph Product Suite, an integrated solution that comprises consumables, an automation instrumentation, and software that allows researchers to conduct proteomic studies in therapeutic and diagnostic research, and clinical trials. The company intends to sell its products for research purposes, which cover academic institutions, life sciences, and research laboratories, as well as biopharmaceutical and biotechnology companies for non-diagnostic and non-clinical purposes. It has a collaboration agreement with Discovery Life Sciences, LLC. and the Salk Institute for Biological Studies. The company was formerly known as Seer Biosciences, Inc. and changed its name to Seer, Inc. in July 2018. Seer, Inc. was incorporated in 2017 and is headquartered in Redwood City, California.
How the Company Makes MoneySeer generates revenue through the sale of its Proteograph Product Suite and related consumables, which are essential for conducting proteomic analyses. The company's revenue model primarily includes the direct sale of these products to research institutions, pharmaceutical companies, and academic labs. Additionally, Seer may engage in strategic partnerships and collaborations with other biotech firms and research organizations to expand its market reach and enhance its technological offerings. Through these collaborations, Seer can also generate revenue through licensing agreements and joint development projects.
Seer Earnings Call Summary
Earnings Call Date:May 13, 2025
(Q1-2025)
| % Change Since: 10.42%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted robust revenue growth and significant achievements, including securing a major contract for a large-scale study and expanding partnerships. However, these positives were tempered by ongoing macroeconomic challenges, pressure on budgets, and uncertainty in government funding. Despite these concerns, Seer remains optimistic about its growth prospects.Q1-2025 Updates
Positive Updates
Strong Start to 2025 with Revenue Growth
Seer delivered $4.2 million in revenue for the first quarter of 2025, marking a 37% increase compared to $3.1 million in the first quarter of 2024.
Significant Contract Secured for Large-Scale Study
Discovery Life Sciences, in collaboration with Seer, secured a contract for a 10,000-sample study using the Proteograph product suite, marking a milestone for the proteomics market.
High Customer Engagement with STAC
Half of the instrument shipments in Q1 were from customers who had previously accessed STAC, representing the highest number of STAC-to-instrument conversions in a single quarter.
Partnership with Thermo Fisher Scientific
Expanded partnership to co-market and sell the Proteograph product suite alongside Orbitrap Astral mass spectrometer, enhancing commercial reach.
Reduced Operating Expenses
Total operating expenses decreased by 14% to $22.8 million in Q1 2025 compared to $26.6 million in Q1 2024, driven by decreases in stock-based compensation and laboratory expenses.
Negative Updates
Macroeconomic Volatility and Tariff Impact
Ongoing macroeconomic challenges, including tariffs and government funding issues, are expected to persist, affecting visibility for the year.
Pressure on CapEx Budgets and Elongated Sales Cycles
Continued pressure on CapEx budgets and elongated sales cycles for purchasing new instruments were observed, despite positive Q1 results.
Reduced NIH and Government Funding
NIH and government funding environment remains uncertain, affecting the academic and government segments, which represent 30% of overall revenue.
Net Loss for the Quarter
The company reported a net loss of $19.9 million for Q1 2025, compared to $20.7 million in Q1 2024.
Company Guidance
During Seer's first quarter 2025 earnings call, the company reiterated its full-year revenue guidance of $17 to $18 million, anticipating 24% year-over-year growth at the midpoint. The company reported a strong start to the year with $4.2 million in revenue for the first quarter, a 37% increase compared to the previous year, driven by high demand for the Proteograph product suite. Gross profit reached $2.1 million, with a gross margin of 49%, up from 44% in the same quarter of 2024. Operating expenses decreased by 14% to $22.8 million. Despite macroeconomic pressures, including tariff implications and funding uncertainties, Seer maintains a robust balance sheet with approximately $285 million in cash, cash equivalents, and investments, allowing them to continue strategic investments in R&D and share repurchase programs. The company expects free cash flow loss to be between $40 million and $45 million for the year, while managing to repurchase 352,000 Class A shares in the first quarter.Seer Financial Statement Overview
Summary
Seer demonstrates strengths in its equity position with a low debt-to-equity ratio and solid capital structure. However, the company faces significant challenges in profitability, with a negative net profit margin and inconsistent revenue growth, indicating potential volatility.Income Statement
Seer shows modest revenue growth in the TTM, with a Gross Profit Margin of 40.3%. However, the company faces significant challenges with profitability, as evidenced by a negative Net Profit Margin of -56.6% and negative EBIT and EBITDA margins. Revenue growth has been inconsistent, indicating potential volatility and challenges in sustaining revenue growth.55
Neutral
Balance Sheet
The company has a strong equity position with a low Debt-to-Equity Ratio of 0.08, indicating low leverage. The Equity Ratio stands at 89.6%, which reflects a solid capital structure. However, the consistent negative net income impacts Return on Equity, limiting the potential returns to shareholders.65
Positive
Cash Flow
Seer has been facing negative Free Cash Flow, although there is a small improvement in the growth rate. The Operating Cash Flow to Net Income ratio reflects challenges in converting income into cash flow, a concern for ongoing operations. The cash flow metrics indicate a reliance on financing activities to support business operations.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.17M | 13.95M | 15.18M | 14.69M | 6.39M | 656.00K |
| Gross Profit | 6.11M | 6.83M | 7.03M | 6.74M | 3.19M | 656.00K |
| EBITDA | -90.96M | -93.92M | -97.89M | -93.29M | -68.59M | -31.17M |
| Net Income | -85.87M | -86.60M | -86.28M | -88.70M | -68.63M | -31.17M |
Balance Sheet | ||||||
| Total Assets | 347.26M | 366.60M | 436.27M | 487.93M | 539.14M | 442.32M |
| Cash, Cash Equivalents and Short-Term Investments | 239.72M | 236.41M | 316.22M | 421.24M | 400.07M | 431.86M |
| Total Debt | 25.40M | 25.96M | 28.26M | 29.87M | 23.32M | 0.00 |
| Total Liabilities | 36.26M | 39.03M | 39.37M | 40.94M | 36.22M | 10.71M |
| Stockholders Equity | 311.01M | 327.57M | 396.90M | 446.99M | 502.92M | 431.61M |
Cash Flow | ||||||
| Free Cash Flow | -50.55M | -49.69M | -66.37M | -71.05M | -53.27M | -25.36M |
| Operating Cash Flow | -47.07M | -46.11M | -59.06M | -60.78M | -46.35M | -20.83M |
| Investing Cash Flow | 58.11M | 65.86M | 37.90M | -122.72M | -170.88M | -34.56M |
| Financing Cash Flow | -13.00M | -11.49M | 452.00K | 3.89M | 116.63M | 371.49M |
Seer Technical Analysis
Positive
2.12
Price Trends
2.03
Positive
2.03
Positive
2.09
Negative
Market Momentum
>-0.01
Positive
51.02
Neutral
37.04
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SEER, the sentiment is Positive. The current price of 2.12 is above the 20-day moving average (MA) of 2.08, above the 50-day MA of 2.03, and above the 200-day MA of 2.09, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 51.02 is Neutral, neither overbought nor oversold. The STOCH value of 37.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SEER.
Seer Risk Analysis
Seer disclosed 67 risk factors in its most recent earnings report. Seer reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Seer Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | $273.46M | ― | -99.23% | ― | -40.10% | -16.60% | |
55 Neutral | $124.75M | ― | -24.73% | ― | -1.02% | -8.59% | |
51 Neutral | $7.41B | 0.36 | -61.88% | 2.34% | 16.99% | 1.69% | |
51 Neutral | $268.77M | ― | 123.38% | ― | 10.49% | 47.31% | |
46 Neutral | $177.89M | ― | -32.97% | ― | ― | ― | |
33 Underperform | $69.28M | ― | -125.43% | ― | ― | 2.98% | |
28 Underperform | $43.85M | ― | -41.96% | ― | ― | 72.12% |
* Healthcare Sector Average
Performance Comparison
SEER
Seer
2.12
0.43
25.44%
ADCT
ADC Therapeutics
2.71
-0.97
-26.36%
KLRS
Kalaris Therapeutics
2.62
-14.17
-84.40%
SLN
Silence Therapeutics
5.79
-12.95
-69.10%
FDMT
4D Molecular Therapeutics
3.84
-17.50
-82.01%
VOR
Vor Biopharma
1.06
0.07
7.07%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.