Reported Earnings • May 15
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: US$0.30 loss per share (improved from US$0.34 loss in 1Q 2025). Revenue: US$2.79m (down 34% from 1Q 2025). Net loss: US$16.8m (loss narrowed 16% from 1Q 2025). Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 1.7%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Announcement • May 15
Seer, Inc. Reaffirms Earnings Guidance for the Full Year 2026 Seer, Inc. reaffirmed earnings guidance for the full year 2026. For the full year, the company expected revenue to be in the range of $16 million to $18 million, representing growth of 3% at the midpoint over full year 2025. Announcement • May 14
The Radoff-JEC Group Submits its Third Non-Binding Proposal to Acquire Seer, Inc On May 14, 2026, Bradley L. Radoff and Michael Torok announced that it had submitted the improved non-binding proposal to acquire the Company - their third proposal for $2.40 per share in cash plus a contingent value right. Bradley L. Radoff urged the Company’s independent directors and financial advisor to engage with the Radoff-JEC Group regarding a transaction and avoid further value destruction under current leadership team from continued operations following woeful q1 2026 results. Bradley L. Radoff stated that it reaffirmed its commitment to holding the board accountable by electing 3 directors who are best suited to rebuilding value at seer and overseeing a credible strategic review process for the benefit of all stockholders. Announcement • May 05
Seer, Inc. Appoints Anthony Bazarko as Chief Commercial Officer Seer, Inc. announced the appointment of Anthony Bazarko as Chief Commercial Officer. Mr. Bazarko brings more than two decades of commercial leadership experience across the life sciences, diagnostics, and biotechnology industries, with a demonstrated track record of driving revenue growth, building high-performing teams, and leading global go-to-market strategies. Mr. Bazarko joins Seer from Biologos, where he previously served as President and Chief Executive Officer from 2022 until 2025, leading the company’s strategic and operational evolution and its acquisition by Ampersand Capital Partners. Prior to Biologos, he was Chief Commercial Officer at Specific Diagnostics, a pioneer in rapid antimicrobial susceptibility testing from positive blood cultures using novel metabolomic signature technology. In his time as CCO, Mr. Bazarko developed the global GTM strategy which led to an acquisition by bioMérieux. Earlier in his career, Mr. Bazarko spent more than four years at Danaher Corporation within Leica Biosystems, where he served as Vice President of Commercial Development for the Americas. In this role, he led North American strategy, sales, and marketing for a multi-hundred-million-dollar business, driving commercial expansion and execution. He previously held senior leadership roles at Roche Diagnostics Corporation, where he led the life science tools commercial business and later oversaw strategic affairs across five North American business units. At Seer, Mr. Bazarko will lead the company’s Sales, Marketing, and Customer Experience organizations, strengthening commercial execution and advancing the company’s next phase of growth. Announcement • Apr 24
Radoff-JEC Group Issues an Open Letter to the Board of Directors of Seer On April 24, 2026, Bradley L. Radoff and Michael Torok, submitted an improved non-binding proposal to Seer, Inc., to acquire the Company for $2.35 per share in cash plus a contingent value right, representing a 39% premium to the unaffected closing price, and providing stockholders with immediate and significant value while avoiding further value destruction from continued abysmal operating results. In addition, Bradley Radoff and Michael Torok criticized the Board for failing to engage with them regarding the acquisition proposal, referenced the Board’s enactment of a poison pill, and stated their belief that the Company has failed as a public company under current leadership, citing significant share price decline, cumulative losses, and lack of revenue growth compared to industry peers, while expressing their readiness to move forward with the proposal, and requesting a response from the Board by May 2, 2026. Announcement • Apr 14
Bradley L. Radoff and Michael Torok submitted a non-binding proposal to acquire remaining 93.81% stake in Seer, Inc. (NasdaqGS:SEER) for approximately $130 million. Bradley L. Radoff and Michael Torok submitted a non-binding proposal to acquire remaining 93.81% stake in Seer, Inc. (NasdaqGS:SEER) for approximately $130 million on April 13, 2026. The proposal provides stockholders with $2.25 per share in cash. In addition, shareholders will receive contingent value right representing the right for stockholders to receive 80% of the net proceeds received from any license, sale or other disposition of Seer’s business and assets, including PrognomiQ.
The proposal is subject to limited confirmatory due diligence and is based on the availability of at least $215 million of net cash and cash equivalents at closing. The proposal would provide stockholders with immediate cash liquidity at a significant premium to the current share price. Furthermore, the proposed CVR structure has the potential to provide stockholders with considerable additional value.
Baker Botts L.L.P. and Olshan Frome Wolosky LLP acted as legal advisor for Bradley L. Radoff and Michael Torok. Perella Weinberg Partners LP acted as financial advisor and Wilson Sonsini Goodrich & Rosati, P.C. acted as legal advisor for Seer, Inc. Announcement • Mar 05
Bradley Radoff Sends Open Letter to Seer, Inc. On March 4, 2026, Bradley L. Radoff and Michael Torok announced that they have issued an open letter to independent directors of Seer, Inc., Meeta Gulyani and Nicolas Roelofs, raises concerns about the Company board’s continued deference to Chair and CEO Omid Farokhzad in light of his track record of value destruction, and highlighted the recently filed stockholder lawsuit against the Company and its board members, which alleges the board breached its fiduciary duties in connection with the adoption of the NOL poison pill. Further, Bradley L. Radoff urged the Company Board to immediately publicly announce a sale process. Reported Earnings • Mar 02
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: US$1.28 loss per share (improved from US$1.39 loss in FY 2024). Revenue: US$16.6m (up 17% from FY 2024). Net loss: US$73.6m (loss narrowed 15% from FY 2024). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 2.3%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 30% per year, which means it is significantly lagging earnings. Announcement • Feb 27
Seer, Inc. Provides Revenue Guidance for the Full Year 2026 Seer, Inc. provided revenue guidance for the full year 2026. Seer expects full year 2026 revenue to be in the range of $16 million to $18 million, representing growth of approximately 3% at the midpoint over full year 2025. Announcement • Feb 23
Radoff-JEC Group Issues Open Letter to Seer Inc.’s Board of Directors On February 23, 2026, Bradley L. Radoff and Michael Torok issued an open letter to the Company’s Board of Directors, highlighting the need for significant change due to Seer, Inc.’s abysmal operating results and severe undervaluation under the leadership of Board Chair, and CEO Omid Farokhzad. In addition, Bradley Radoff stated that Company’s initial public offering in December 2020, the Company has experienced a more than 96% decline in share price, with minimal revenue growth despite substantial cash investments. Further, Bradley Radoff in its letter criticized the Company Board for allowing Company’s shares to trade at a significant discount to its net cash balance and for enriching Farokhzad through large stock grants and options, while failing to hold him accountable for the Company’s poor performance. Furthermore, Radoff-JEC Group expressed scepticism about Farokhzad’s strategic plan, which projects profitability only by 2031, and urged the Board to implement immediate governance and operational changes or commence a sale process to prevent further value destruction for stockholders. New Risk • Feb 06
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$98.4m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$74m net loss in 3 years). Significant insider selling over the past 3 months (US$80k sold). Market cap is less than US$100m (US$98.4m market cap). Announcement • Feb 06
Seer, Inc. to Report Q4, 2025 Results on Feb 26, 2026 Seer, Inc. announced that they will report Q4, 2025 results on Feb 26, 2026 New Risk • Dec 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$98.2m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$74m net loss in 3 years). Significant insider selling over the past 3 months (US$80k sold). Market cap is less than US$100m (US$98.2m market cap). Announcement • Dec 01
Nature Genetics Study Validates Seer's Proteograph Platform as Essential for Turning Genetic Signals into Reliable Drug Targets and Biomarkers Seer, Inc. announced the publication in Nature Genetics of a large genome-wide association study (GWAS) that used the company's Proteograph®? Product Suite to measure proteins at peptide-level resolution and map their genetic determinants. The study, led by Karsten Suhre, PhD, of Weillell Medicine-Qatar, with collaborators from Harvard Medical School/Brigham and Women's Hospital, Seer, and TruDiagnostic, provides the strongest evidence to date that mass spectrometry validation is essential for turning genomic signals into reliable drug targets and clinical biomarkers. Without mass spectrometry validation, as many as one-third of protein-gene associations reported by affinity-based assays do not replicate, highlighting the necessity of accuracy in proteogenomics. The analysis included ~1,600 blood samples representing multiple ethnic backgrounds. A discovery cohort of 1,260 and an independent replication cohort of 325 were profiled using Seer's Proteograph workflow. Across these samples, 5,753 proteins were detected, and 1,980 were quantified in at least 80% of participants. From these data, the researchers identified 364 protein quantitative trait loci (pQTLs) genetic variants associated with protein abundance. Of these, 102 replicated in the independent cohort. 35 of the replicated signals were previously unreported, extending the catalog of genetic regulation of proteins. Affinity reagents have been used in proteomics to measure a predetermined panel of proteins in large cohorts and have generated thousands of reported pQTLs. But when protein-altering genetic variants change the binding site of affinity reagents, these methods can register erroneous signals as the binding strength of the affinity reagents to the protein is diminished. These so-called epitope effects can produce apparent associations between protein expression and genetic variants that do not represent true biology. By measuring proteins directly at the peptide level, the Proteograph's mass spectrometry approach made it possible to test whether a genetic variant truly altered protein expression, mitigating the confounding epitope effect. To contextualize the findings, the study compared mass spectrometry results with two of the largest affinity-based proteomics resources. The comparison revealed a clear pattern: pQTLs consistently reported across multiple affinity platforms were confirmed by mass spectrometry. Up to one-third of associations reported by a single affinity platform did not replicate when tested by mass spectrometry. For academic researchers conducting GWAS and Mendelian randomization studies, the message is direct: datasets built only on affinity reagents may contain a substantial fraction of associations that do not represent true protein abundance. Without validation, downstream analyses risk drawing causal inferences from epitope-induced artifacts. For drug discovery and biomarker development, peptide-level validation strengthens confidence that selected targets represent genuine biology, not technical noise. Reliable associations reduce wasted effort and increase the likelihood that preclinical findings will hold in clinical settings. For translational research, the study demonstrates how mass spectrometry and affinity reagents can be used together, with mass spectrometry stratifying the level of reliability of affinity-based predictions. For patients, this rigor means a higher probability that tomorrow's therapies are built to be used in proteomics. Recent Insider Transactions • Nov 24
Founder recently sold US$67k worth of stock On the 19th of November, Omid Farokhzad sold around 34k shares on-market at roughly US$1.97 per share. This transaction amounted to 5.3% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Omid has been a net seller over the last 12 months, reducing personal holdings by US$224k. Reported Earnings • Nov 09
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: US$0.32 loss per share (improved from US$0.35 loss in 3Q 2024). Revenue: US$4.12m (up 2.2% from 3Q 2024). Net loss: US$18.2m (loss narrowed 14% from 3Q 2024). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 6.7%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Announcement • Nov 07
Seer, Inc. and Collaborators Unveil Broad New Data Demonstrating the Translational Power of Deep Proteomics at HUPO 2025 Seer, Inc. announced new data to be featured at the Human Proteome Organization World Congress 2025, underscoring how deep, scalable proteomics is transforming the study of human disease. Through a combination of Seer-led, collaborative, and independent studies, the company’s Proteograph Product Suite is powering a growing body of research across cardiovascular, oncology, and aging biology. Collectively, these findings demonstrate how Seer’s technology is enabling scientists worldwide to translate complex biological signatures into actionable understanding, bringing proteomics to the forefront of translational and population-scale research. Seer’s presence at HUPO 2025 represents one of the most comprehensive demonstrations of its technology to date, with more than a dozen scientific presentations, including two invited talks in the company’s breakfast symposium and sixteen posters presented across three days of sessions. Together, these studies highlight the accelerating adoption of Seer’s Proteograph platform and its growing impact across diverse biological and clinical research areas. Announcement • Oct 17
Seer, Inc. to Report Q3, 2025 Results on Nov 06, 2025 Seer, Inc. announced that they will report Q3, 2025 results on Nov 06, 2025 New Risk • Oct 14
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risk Significant insider selling over the past 3 months (US$83k sold). Announcement • Sep 03
Seer, Inc. Announces Appointment of Isaac Ro to Board of Directors Seer, Inc. announced it has appointed Isaac Ro to serve on its Board of Directors. Mr. Ro is a Partner at Catalio Capital Management, where he has led multiple venture and private credit investments in breakthrough life science companies. He currently serves on the boards of PinkDx and PrognomiQ. Previously, he was Executive Chairman of Haystack Oncology, where he led the company through its successful acquisition by Quest Diagnostics in 2023. Prior to Catalio, Mr. Ro served as Chief Financial Officer of Sema4 where he guided the company through its public listing in 2021 and the acquisition of GeneDx. He also held the role of Chief Financial Officer of Thrive Earlier Detection, where he led the company’s launch and subsequent sale to Exact Sciences in 2020. Prior to Thrive, Mr. Ro led the U.S. Medical Technology and Life Science Tools equity research teams at Goldman Sachs from 2010 to 2019, and held a similar role at Leerink Partners prior to that. Mr. Ro earned his B.A. in History and was Pre-Med at Middlebury College. Recent Insider Transactions • Aug 24
Founder recently sold US$69k worth of stock On the 20th of August, Omid Farokhzad sold around 34k shares on-market at roughly US$2.04 per share. This transaction amounted to 5.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Omid has been a net seller over the last 12 months, reducing personal holdings by US$157k. Reported Earnings • Aug 08
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: US$0.33 loss per share (improved from US$0.35 loss in 2Q 2024). Revenue: US$4.05m (up 32% from 2Q 2024). Net loss: US$19.4m (loss narrowed 15% from 2Q 2024). Revenue exceeded analyst estimates by 8.0%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Announcement • Aug 07
Seer, Inc. Reiterates Earnings Guidance for Full Year 2025 Seer, Inc. reiterated earnings guidance for full year 2025. For the period, the company continues to expect full year 2025 revenue to be in the range of $17 million to $18 million, representing growth of 24% at the midpoint over full year 2024. Announcement • Jul 23
Seer, Inc. to Report Q2, 2025 Results on Aug 06, 2025 Seer, Inc. announced that they will report Q2, 2025 results at 4:00 PM, US Eastern Standard Time on Aug 06, 2025 Recent Insider Transactions Derivative • Jun 15
Independent Director notifies of intention to sell stock Dipchand Nishar intends to sell 30k shares in the next 90 days after lodging an Intent To Sell Form on the 13th of June. If the sale is conducted around the recent share price of US$2.08, it would amount to US$63k. Since March 2025, Dipchand has not owned shares directly (This sale likely refers to shares that have not yet been received). Company insiders have collectively sold US$110k more than they bought, via options and on-market transactions in the last 12 months. Recent Insider Transactions • May 25
Founder recently sold US$70k worth of stock On the 20th of May, Omid Farokhzad sold around 34k shares on-market at roughly US$2.08 per share. This transaction amounted to 4.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Omid has been a net seller over the last 12 months, reducing personal holdings by US$88k. Major Estimate Revision • May 20
Consensus EPS estimates upgraded to US$1.20 loss The consensus outlook for fiscal year 2025 has been updated. 2025 losses forecast to reduce from -US$1.47 to -US$1.20 per share. Revenue forecast steady at US$17.4m. Life Sciences industry in the US expected to see average net income growth of 13% next year. Consensus price target of US$3.00 unchanged from last update. Share price rose 8.9% to US$2.09 over the past week. Reported Earnings • May 15
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: US$0.34 loss per share. Revenue: US$4.21m (up 37% from 1Q 2024). Net loss: US$19.9m (loss narrowed 3.5% from 1Q 2024). Revenue exceeded analyst estimates by 29%. Earnings per share (EPS) also surpassed analyst estimates by 7.5%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Life Sciences industry in the US. Announcement • May 14
Seer, Inc. Reiterates Revenue Guidance for the Full Year 2025 Seer, Inc. reiterated revenue guidance for the full year 2025. The company continues to expect full year 2025 revenue to be in the range of $17 million to $18 million, representing growth of 24% at the midpoint over full year 2024. Announcement • Apr 25
Seer, Inc. to Report Q1, 2025 Results on May 13, 2025 Seer, Inc. announced that they will report Q1, 2025 results on May 13, 2025 New Risk • Apr 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.2m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$63m net loss in 3 years). Market cap is less than US$100m (US$99.2m market cap). Major Estimate Revision • Mar 06
Consensus EPS estimates upgraded to US$1.47 loss, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$18.9m to US$17.5m. 2025 losses expected to reduce from -US$1.67 to -US$1.47 per share. Life Sciences industry in the US expected to see average net income growth of 13% next year. Consensus price target of US$3.00 unchanged from last update. Share price fell 9.1% to US$2.00 over the past week. Reported Earnings • Feb 28
Full year 2024 earnings: Revenues and EPS in line with analyst expectations Full year 2024 results: US$1.39 loss per share (further deteriorated from US$1.35 loss in FY 2023). Revenue: US$14.2m (down 15% from FY 2023). Net loss: US$86.6m (flat on FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 45% per year, which means it is significantly lagging earnings. Announcement • Feb 28
Seer, Inc. Provides Revenue Guidance for the Full Year 2025 Seer, Inc. provided revenue guidance for the full year 2025. The company expects full year 2025 revenue to be in the range of $17 million to $18 million, representing growth of 24% at the midpoint over full year 2024. Announcement • Feb 14
Seer, Inc. to Report Q4, 2024 Results on Feb 27, 2025 Seer, Inc. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Feb 27, 2025 Board Change • Dec 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. Lead Independent Director Nick Roelofs was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Nov 13
Consensus EPS estimates fall by 11%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from US$13.7m to US$14.0m. Forecast EPS reduced from -US$1.23 to -US$1.37 per share. Life Sciences industry in the US expected to see average net income growth of 18% next year. Consensus price target of US$3.00 unchanged from last update. Share price rose 11% to US$2.26 over the past week. Reported Earnings • Nov 08
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: US$0.35 loss per share (further deteriorated from US$0.33 loss in 3Q 2023). Revenue: US$4.03m (down 3.1% from 3Q 2023). Net loss: US$21.3m (loss widened 1.1% from 3Q 2023). Revenue exceeded analyst estimates by 28%. Earnings per share (EPS) missed analyst estimates by 20%. Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 58% per year, which means it is performing significantly worse than earnings. Announcement • Oct 18
Seer, Inc. to Report Q3, 2024 Results on Nov 06, 2024 Seer, Inc. announced that they will report Q3, 2024 results on Nov 06, 2024 New Risk • Aug 23
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.5m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$69m net loss in 3 years). Market cap is less than US$100m (US$99.5m market cap). Major Estimate Revision • Aug 15
Consensus revenue estimates decrease by 18%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$16.9m to US$13.9m. EPS estimate increased from -US$1.31 to -US$1.23 per share. Life Sciences industry in the US expected to see average net income growth of 20% next year. Consensus price target down from US$7.00 to US$3.00. Share price fell 2.3% to US$1.69 over the past week. Announcement • Aug 15
Seer, Inc. Appoints Nicolas Roelofs to Its Board of Directors Seer, Inc. announced it has appointed Dr. Nicolas Roelofs to serve on its Board of Directors. Dr. Roelofs previously served as the President of the Life Sciences Group at Agilent Technologies, Group Operations Officer for the Life Sciences Division of Bio-Rad Inc, and Chief Operating Officer at Stratagene Inc. He has previously served on the boards of several public and private companies including Olink Holding AB. Dr. Roelofs currently serves as chairman of Sengenics Corporation LLC, a board member of Velsera, LGC Group, and an advisory board member of 908 Devices Inc. Dr. Roelofs holds a doctorate in organic chemistry from University of Nevada, Reno, a master’s degree in organic chemistry from Iowa State University, and a bachelor’s degree in chemistry, biology, and German from Simpson College. Price Target Changed • Aug 13
Price target decreased by 57% to US$3.00 Down from US$7.00, the current price target is provided by 1 analyst. New target price is 76% above last closing price of US$1.70. Stock is down 37% over the past year. The company is forecast to post a net loss per share of US$1.23 next year compared to a net loss per share of US$1.35 last year. Reported Earnings • Aug 09
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: US$0.35 loss per share (improved from US$0.37 loss in 2Q 2023). Revenue: US$3.07m (down 23% from 2Q 2023). Net loss: US$22.9m (loss narrowed 2.5% from 2Q 2023). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 4.3%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Life Sciences industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 62% per year, which means it is performing significantly worse than earnings. Announcement • Aug 09
Seer, Inc. Revises Revenue Guidance for the Full Year 2024 Seer, Inc. revised revenue guidance for the full year 2024. The company now expects full year 2024 revenue to be in the range of $13 million to $15 million, compared to the prior range of $16 million to $18 million. Announcement • Jul 19
Seer, Inc. to Report Q2, 2024 Results on Aug 08, 2024 Seer, Inc. announced that they will report Q2, 2024 results on Aug 08, 2024 Announcement • Jul 03
Seer, Inc.(NasdaqGS:SEER) dropped from Russell 3000 Index Seer, Inc.(NasdaqGS:SEER) dropped from Russell 3000 Index Major Estimate Revision • May 15
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$18.9m to US$16.8m. Forecast losses increased from -US$1.25 to -US$1.31 per share. Life Sciences industry in the US expected to see average net income growth of 20% next year. Consensus price target of US$7.00 unchanged from last update. Share price fell 4.0% to US$2.14 over the past week. Announcement • May 10
Seer, Inc. Provides Revenue Guidance for the Full Year 2024 Seer, Inc. provided revenue guidance for the full year 2024. The company now expects full year 2024 revenue to be in the range of $16 million to $18 million, which is in line with full year 2023 revenue. Announcement • May 09
Seer, Inc. (NasdaqGS:SEER) announces an Equity Buyback for $25 million worth of its shares. Seer, Inc. (NasdaqGS:SEER) announces a share repurchase program. Under the program, the company will repurchase up to $25 million worth of its Class A common stock. The purpose of repurchase program is to enhance long-term stockholder value. Announcement • Apr 28
Seer, Inc., Annual General Meeting, Jun 12, 2024 Seer, Inc., Annual General Meeting, Jun 12, 2024, at 13:00 Pacific Standard Time. Agenda: To elect four directors to serve until the 2025 annual meeting of stockholders or until their successors are duly elected and qualified; to ratify the appointment of Deloitte & Touche LLP as independent registered public accounting firm for fiscal year ending December 31, 2024; and to transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. Announcement • Apr 24
Seer, Inc. to Report Q1, 2024 Results on May 08, 2024 Seer, Inc. announced that they will report Q1, 2024 results on May 08, 2024 Recent Insider Transactions • Mar 14
Founder recently sold US$107k worth of stock On the 7th of March, Omid Farokhzad sold around 53k shares on-market at roughly US$2.03 per share. This transaction amounted to 9.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Omid has been a net seller over the last 12 months, reducing personal holdings by US$9.5k. New Risk • Mar 05
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$82m net loss in 3 years). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Reported Earnings • Mar 02
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: US$1.35 loss per share (improved from US$1.49 loss in FY 2022). Revenue: US$16.7m (up 7.5% from FY 2022). Net loss: US$86.3m (loss narrowed 7.2% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.4%. Revenue is forecast to grow 29% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Life Sciences industry in the US. New Risk • Mar 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$83m net loss in 3 years). Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Significant insider selling over the past 3 months (US$60k sold). Announcement • Mar 01
Seer, Inc. Provides Revenue Guidance for the Full Year 2024 Seer, Inc. provided revenue guidance for the full year 2024. The company expects full year 2024 revenue to be in the range of $18 million to $20 million, representing growth of 14% at the midpoint over full year 2023. Announcement • Feb 02
Seer, Inc. to Report Q4, 2023 Results on Feb 29, 2024 Seer, Inc. announced that they will report Q4, 2023 results on Feb 29, 2024 Announcement • Dec 23
Seer, Inc. Announces Board and Committee Changes On December 21, 2023, Catherine Friedman informed Seer, Inc. of her resignation as a member of the Company’s Board of Directors and all committees thereof, effective immediately. In connection with Ms. Friedman’s resignation from the Board, the size of the Board was decreased from eight to seven members. Also, following Ms. Friedman’s resignation, the Board appointed Rachel Haurwitz, Ph.D. to the Audit Committee of the Board (the “Audit Committee”) and appointed Meeta Gulyani as the Chair of the Audit Committee. The Board determined that Dr. Haurwitz qualifies as independent under the director independence standards set forth in the rules and regulations of Securities and Exchange Commission (the “SEC”) and the applicable listing standards of the Nasdaq Stock Market (“Nasdaq”) and also satisfies the additional requirements of financial literacy and audit committee independence for audit committee service under the applicable rules and regulations of the SEC and listing standards of Nasdaq. The Board determined that Dr. Haurwitz qualifies as an “audit committee financial expert” within the meaning of SEC rules and regulations. Announcement • Nov 18
Seer, Inc. Announces Management Changes On November 17, 2023, in connection with the promotion of David Horn to the office of President of Seer, Inc., in addition to his current position as Chief Financial Officer, Omid Farokhzad, M.D. resigned from the position of President of the Company; he will retain his positions as Chief Executive Officer and Chair of the Board of Directors. Mr. Horn has served as the Company’s Chief Financial Officer and Treasurer since May 2020. Prior to joining the Company, Mr. Horn was with Morgan Stanley, an investment bank and financial services company, from May 2007 to May 2020, where he served as a Managing Director in the Global Healthcare Group within the Investment Banking Department. From May 2003 to May 2007, Mr. Horn served as a Principal at Montgomery & Co., LLC, a provider of merger and acquisition and private placement services. He holds an A.B. in Politics from Princeton University and an M.B.A. from Stanford University Graduate School of Business. Also on November 17, 2023, the Board appointed Elona Kogan to the office of Chief Legal Officer of the Company. Ms. Kogan has served as the Company’s General Counsel and Corporate Secretary since November 2020. Prior to joining the Company, Ms. Kogan served as General Counsel and Corporate Secretary of Selecta Biosciences, Inc., a clinical-stage biotechnology company, from March 2019 to August 2020. From July 2016 to April 2017, Ms. Kogan served as General Counsel and Head of Government Relations at ARIAD Pharmaceuticals, Inc., a rare disease oncology company, where she was a key executive through the acquisition of the company by Takeda Pharmaceuticals Company Limited. Ms. Kogan led the legal and government affairs functions of Avanir Pharmaceuticals, Inc., a publicly traded pharmaceutical company, from May 2011 to August 2015, until its acquisition by Otsuka Pharmaceutical Co. Ltd. Prior roles included positions of increasing responsibility at King Pharmaceuticals, Inc., Bristol-Myers Squibb, and Bergen Brunswig Corporation. Ms. Kogan is a graduate of the SCALE program at Southwestern University School of Law. Ms. Kogan graduated cum laude from Columbia University, Barnard College, with a B.A. in Economics. New Risk • Nov 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$99.6m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$90m net loss in 3 years). Market cap is less than US$100m (US$99.6m market cap). Reported Earnings • Nov 09
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: US$0.33 loss per share (improved from US$0.38 loss in 3Q 2022). Revenue: US$4.16m (up 5.2% from 3Q 2022). Net loss: US$21.1m (loss narrowed 12% from 3Q 2022). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 23%. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Life Sciences industry in the US. Announcement • Nov 08
Seer, Inc. Provides Revenue Guidance for the Year 2023 Seer, Inc. provided revenue guidance for the year 2023. For the year, the company anticipates coming in at the lower half of its revenue guidance range of $16 million to $18 million. Announcement • Oct 20
Seer, Inc. to Report Q3, 2023 Results on Nov 07, 2023 Seer, Inc. announced that they will report Q3, 2023 results at 4:00 PM, US Eastern Standard Time on Nov 07, 2023 Recent Insider Transactions • Aug 27
Founder recently bought US$98k worth of stock On the 23rd of August, Omid Farokhzad bought around 40k shares on-market at roughly US$2.45 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent buy, Omid has been a net seller over the last 12 months, reducing personal holdings by US$23k. Major Estimate Revision • Aug 15
Consensus revenue estimates decrease by 29%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$24.0m to US$16.9m. EPS estimate increased from -US$1.64 to -US$1.54 per share. Life Sciences industry in the US expected to see average net income growth of 9.4% next year. Consensus price target down from US$8.67 to US$6.67. Share price fell 39% to US$2.81 over the past week. Announcement • Aug 11
Seer, Inc. Revises Revenue Guidance for the Full Year 2023 Seer, Inc. revised revenue guidance for the full year 2023. For the year, the company expected revenue to be in the range of $16 million to $18 million, representing growth of 10% at the mid-point of the range over full year 2022. This compares to the prior range of $23 million to $25 million. Board Change • Aug 10
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. 1 independent director (7 non-independent directors). Lead Independent Director David Hallal was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Aug 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.3% per year for the foreseeable future. Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$99m net loss in 3 years). Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Price Target Changed • Aug 09
Price target decreased by 25% to US$6.67 Down from US$8.83, the current price target is an average from 3 analysts. New target price is 116% above last closing price of US$3.09. Stock is down 77% over the past year. The company is forecast to post a net loss per share of US$1.53 next year compared to a net loss per share of US$1.49 last year. Announcement • Jul 23
Seer, Inc. Announces the Resignation of Mostafa Ronaghi as Member of the Company's Board of Directors On July 18, 2023, Mostafa Ronaghi, Ph.D. informed Seer, Inc. of his resignation as a member ofthe company's Board of Directors (the Board") and all committees thereof, effective immediately. In connectionwith Dr. Ronaghi's resignation from the Board, the size of the Board was decreased from nine to eight members. Announcement • Jul 14
Seer, Inc. to Report Q2, 2023 Results on Aug 08, 2023 Seer, Inc. announced that they will report Q2, 2023 results After-Market on Aug 08, 2023 Reported Earnings • May 11
First quarter 2023 earnings: EPS in line with expectations, revenues disappoint First quarter 2023 results: US$0.38 loss per share. Revenue: US$4.05m (up 22% from 1Q 2022). Net loss: US$24.0m (loss widened 1.3% from 1Q 2022). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 41% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Life Sciences industry in the US. Announcement • May 10
Seer, Inc. Provides Earnings Guidance for the Year 2023 Seer, Inc. provided earnings guidance for the year 2023. For the year, the company expects revenue to be in the range of $23 million to $25 million, representing growth of 48% - 61% over full year 2022. Reported Earnings • Mar 03
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: US$1.49 loss per share (further deteriorated from US$1.17 loss in FY 2021). Revenue: US$15.5m (up 134% from FY 2021). Net loss: US$93.0m (loss widened 31% from FY 2021). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 5.0%. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Life Sciences industry in the US. Recent Insider Transactions • Feb 27
Founder recently sold US$57k worth of stock On the 21st of February, Omid Farokhzad sold around 14k shares on-market at roughly US$4.13 per share. This transaction amounted to 6.3% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth US$124k. Omid has been a net seller over the last 12 months, reducing personal holdings by US$121k. Announcement • Feb 10
Seer, Inc. to Report Q4, 2022 Results on Mar 02, 2023 Seer, Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Mar 02, 2023 Recent Insider Transactions • Dec 12
Executive VP recently sold US$124k worth of stock On the 8th of December, David Horn sold around 19k shares on-market at roughly US$6.57 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. David has been a net seller over the last 12 months, reducing personal holdings by US$228k. Price Target Changed • Nov 16
Price target decreased to US$10.00 Down from US$12.33, the current price target is an average from 3 analysts. New target price is 22% above last closing price of US$8.21. Stock is down 73% over the past year. The company is forecast to post a net loss per share of US$1.57 next year compared to a net loss per share of US$1.17 last year. Reported Earnings • Nov 10
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: US$0.38 loss per share (further deteriorated from US$0.30 loss in 3Q 2021). Revenue: US$3.96m (up 84% from 3Q 2021). Net loss: US$24.0m (loss widened 30% from 3Q 2021). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 2.7%. Revenue is forecast to grow 48% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Life Sciences industry in the US. Announcement • Nov 09
Seer, Inc. Provides Revenue Guidance for the Full Year 2022 Seer, Inc. provided revenue guidance for the full year 2022. For the year, the company continues to expect revenue to be in the range of $14.0 million to $16.0 million. Announcement • Oct 14
Seer, Inc. to Report Q3, 2022 Results on Nov 08, 2022 Seer, Inc. announced that they will report Q3, 2022 results on Nov 08, 2022 
