Seer Q3 revenue falls, cuts 2026 outlook

Overview

• Proteomics platform provider's Q3 revenue fell yr/yr

• Net loss narrowed to $13.7 mln, with operating expenses down 23% yr/yr

• Company cut 2026 revenue guidance, citing extended sales cycles from funding pressures

Outlook

• Seer lowers 2026 revenue guidance to $13.5 mln-$14.5 mln from $16 mln-$18 mln

• Company cites extended sales cycles due to pressure on academic and government funding

Result Drivers

• CUSTOMER ACTIVITY - Co said established customers made repeat consumables purchases and new pharmaceutical customers adopted its platform

• FUNDING PRESSURE - Co cited continued pressure on academic and government funding as extending sales cycles and delaying late-stage opportunities

• OPERATING COST REDUCTION - Co attributed lower operating expenses primarily to reduced employee compensation, including stock-based compensation

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the office equipment peer group is "buy"

• Wall Street's median 12-month price target for Seer, Inc. is $4.00, about 138.1% above its November 9 closing price of $1.68

Reuters Recommended Reads

• Nov 9 - Canada's Xenon Pharmaceuticals posts smaller-than-expected Q3 net loss

• Nov 9 - Annexon Biosciences Q3 net loss narrows on lower R&D expenses, cash runway extends to 2028

• Nov 9 - Compass Therapeutics Q3 net loss widens on higher R&D expenses

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)