Seer, Inc. income statement
In fiscal 2025, Seer, Inc. reported revenue of $16.6m, up 17.0% on the year before, operating income of −$78.0m (a -470.5% margin) and net income of −$73.6m. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 1 | 7 | 15 | 17 | 14 | 17 | 14 |
| Cost of revenue | 0 | 3 | 8 | 8 | 7 | 8 | 7 |
| Gross profit | 1 | 3 | 7 | 9 | 7 | 8 | 7 |
| Research and development | 19 | 29 | 46 | 53 | 51 | 44 | 38 |
| Selling, general and administrative | 15 | 46 | 59 | 59 | 57 | 43 | 40 |
| Operating income | −34 | −71 | −97 | −103 | −100 | −78 | −71 |
| Interest expense | 0 | 0 | 0 | — | — | — | — |
| Income before tax | — | — | — | −86 | −87 | −73 | −68 |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | −33 | −71 | −93 | −86 | −87 | −74 | −68 |
| Diluted EPS | −$2.48 | −$1.17 | −$1.49 | −$1.35 | — | — | — |
| Diluted shares (average) | 13m | 61m | 62m | 64m | — | — | — |
| EBITDA | −32 | −69 | −93 | −98 | −94 | −73 | −66 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 3 |
| Cost of revenue | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Gross profit | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 2 |
| Research and development | 13 | 13 | 11 | 12 | 11 | 10 | 9 | 8 |
| Selling, general and administrative | 13 | 13 | 11 | 11 | 11 | 10 | 9 | 10 |
| Operating income | −24 | −23 | −21 | −21 | −19 | −17 | −17 | −17 |
| Income before tax | −21 | −22 | −20 | −19 | −18 | −16 | −17 | −17 |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | −21 | −22 | −20 | −19 | −18 | −16 | −17 | −17 |
| Diluted EPS | −$0.35 | — | — | — | — | — | — | — |
| EBITDA | −23 | −22 | −19 | −19 | −18 | −16 | −16 | −16 |
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