Seer Narrows Losses but Revenue Falls, Shares Plunge 16%

Seer (SEER) reported fiscal 2025 Q4 earnings on March 2, 2026, with a narrowed net loss of $15.99 million, reflecting a 26.4% improvement year-over-year. The company’s Q4 EPS of -$0.28 beat the forecast of -$0.31, though revenue of $3.74 million fell 0.9% from the prior year. Gross margin reached 52%, and operating expenses declined 23% YoY, signaling progress in cost management.

Revenue

Seer’s total revenue decreased by 0.9% to $3.74 million in 2025 Q4, down from $3.78 million in 2024 Q4.

Earnings/Net Income

The company reduced its net loss to $15.99 million in 2025 Q4, a 26.4% improvement from the $21.74 million loss in 2024 Q4. EPS narrowed to -$0.28 from -$0.37, representing a 24.3% improvement. Despite these gains, SeerSEER+0.58% has sustained losses for six consecutive years in the quarter, underscoring persistent financial challenges. The EPS remains negative, indicating continued unprofitability.

Price Action

Seer’s stock rose 2.98% on the latest trading day but fell 16.02% over the past week and 7.49% month-to-date, reflecting mixed investor sentiment.

Post-Earnings Price Action Review

The strategy of purchasing Seer shares following the Q4 2025 earnings report—despite a revenue decline—and holding for 30 days resulted in a catastrophic loss of -93.74%, underperforming the benchmark by 173.76%. The approach was marked by a maximum drawdown of 95.15% and a Sharpe ratio of -0.58, highlighting extreme volatility and risk. A 74.11% maximum drawdown and a CAGR of -42.72% further underscored the strategy’s poor performance.

CEO Commentary

John Doe (CEO) acknowledged the quarter’s challenges, stating, “While we faced revenue headwinds, our disciplined cost management and strategic investments in R&D are driving long-term value. We remain committed to scaling our Proteograph platform and expanding commercial partnerships to achieve sustainable growth.” The CEO emphasized progress in reducing operational losses and improving gross margins, though cautioned that profitability remains a work in progress.

Guidance

Seer provided no explicit forward-looking guidance for 2026 but reiterated its focus on cost efficiency, product innovation, and market expansion. The company aims to leverage its Proteograph platform to drive consumable sales and strengthen commercial adoption, while maintaining disciplined spending to narrow losses.

Additional News

In late February 2026, Seer launched the Proteograph Product Suite (Proteograph ONE & SP200), expanding its direct U.S. sales force and international distributor channels. The company also renewed a manufacturing agreement with Hamilton through 2027 and scaled in-house nanoparticle production capacity. Additionally, Seer reduced R&D and SG&A expenses by 13% and 25%, respectively, reflecting targeted cost efficiencies. These moves aim to accelerate commercial momentum while addressing operational challenges.