Seer misses earnings by $0.09, revenue falls short of estimates

Seer Technologies Inc. reported adjusted earnings per share of $0.11 for the quarter, missing analyst expectations by $0.09, while revenue totaled $42.3 million, falling short of the $45.1 million estimate.

The biotech company, which specializes in single-cell proteomics, attributed the shortfall to softer demand for its research tools and services. Seer’s net loss widened to $23.7 million from $18.4 million in the same period last year, driven by higher operating expenses.

Chief Executive Officer Omid Farokhzad noted that while the company continues to invest in its core technology, near-term market conditions have pressured adoption rates. "We remain focused on long-term growth drivers, including our expanding customer base and pipeline of innovations," Farokhzad said in a statement.

Analysts had expected Seer to post a profit, but the company’s results fell below projections as it grappled with macroeconomic headwinds and competitive pressures in the life sciences sector.

Shares of Seer fell 3.2% in after-hours trading following the release, extending losses from the prior session. The stock has declined 12% over the past month amid broader biotech sector weakness.

Seer’s guidance for the current quarter was withdrawn, citing ongoing economic uncertainty and supply chain constraints. The company plans to provide updated projections in its next earnings report.

Investors will monitor Seer’s progress in scaling its proteomics platform, which remains a key differentiator in the market. The firm’s ability to convert its technology into commercial revenue will be critical in restoring confidence amid the current earnings miss.