Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Seer, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0.66
6.62
15.5
16.7
14.2
16.6
Cost of revenue
0
3.21
8.4
8.16
7.12
8.11
Gross profit
0.66
3.41
7.09
8.51
7.06
8.47
Research and development
18.9
29.1
45.8
53
50.6
43.9
Selling, general and administrative
15.4
45.8
58.5
59
56.6
42.6
Operating expenses
34.3
74.9
104
112
107
86.5
Operating income
-33.6
-71.5
-97.2
-103
-100
-78
Interest expense
0
0.02
0
Interest income
0.88
0.33
4.6
17.8
16.7
11.5
Other non-operating income
0.87
0.3
4.27
17.2
13.6
4.59
Pre-tax income
-86.3
-86.5
-73.4
Income tax
0
0
0
0
0.1
0.2
Net income
-32.8
-71.2
-93
-86.3
-86.6
-73.6
EBITDA
-32
-68.9
-93.3
-98.1
-94.3
-72.9
EPS, basic
-2.48
-1.17
-1.49
-1.35
EPS, diluted
-2.48
-1.17
-1.49
-1.35
Shares, basic (weighted)
13.2
60.9
62.4
63.9
Shares, diluted (weighted)
13.2
60.9
62.4
63.9
Dividend per share
0.00
0.00
0.00
Balance sheet
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
334
233
53.2
32.5
40.8
47.3
Short-term investments
98.3
167
368
284
196
139
Receivables
0
2.5
4.32
4.83
Inventory
0.55
4.15
4.63
4.49
7.44
7.8
Other current assets
0.45
3.34
2.1
3.08
3.25
1.89
Total current assets
433
412
435
331
253
202
Property, plant and equipment
8.44
13.1
19.4
22.2
18.6
14.8
Lease right-of-use assets
0
20.1
27
25.2
22.8
20.5
Long-term investments
0
93.2
5.16
56.9
63.1
54.7
Other non-current assets
0.41
0.5
0.86
1
8.28
4.1
Total assets
442
539
488
436
367
296
Accrued liabilities
5.15
8.39
8.3
9.21
7.94
7.14
Deferred revenue
0.38
0.13
0.21
0.41
0.34
Total current liabilities
8.09
13.4
12.6
13.2
15.3
15.7
Lease liabilities
0
22.5
28
26
23.7
21.1
Other non-current liabilities
0.72
0.34
0.32
0.18
0.05
0.01
Total liabilities
10.7
36.2
40.9
39.4
39
36.8
Paid-in capital
487
630
668
703
720
725
Retained earnings
-55.4
-127
-219
-306
-392
-466
Other comprehensive income
0.05
-0.54
-1.25
-0.19
0.14
0.46
Shareholders' equity
432
503
447
397
328
259
Total equity
432
503
447
397
328
259
Total liabilities and equity
442
539
488
436
367
296
Shares outstanding
59.3
62
63.4
Cash flow statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-32.8
-71.2
-93
-86.3
-86.6
-73.6
Depreciation and amortization
1.6
2.6
3.9
5.35
5.84
5.12
Stock-based compensation
7.35
25.9
33.7
34.4
28.2
15.4
Deferred income tax
0
-0.25
-0.01
Change in receivables
0
-2.5
-2.87
0.3
0.49
0.28
Change in inventory
-0.55
-3.59
-1.59
-1.95
-2.67
-2.9
Change in payables
0.91
1.6
-1.55
-0.99
3.36
1.06
Cash from operations
-20.8
-46.3
-60.8
-59.1
-46.1
-44.4
Capital expenditures
-4.53
-6.92
-10.3
-7.31
-3.58
-1.8
Purchases of investments
-87.7
-280
-366
-403
-263
-173
Sales and maturities of investments
254
445
342
238
Cash from investing
-34.6
-171
-123
37.9
65.9
61.5
Stock issued
0
103
0
0.1
0
0.06
Share buybacks
-0.01
-0.04
-0.02
-0.01
0
Cash from financing
371
117
3.89
0.45
-11.5
-10.6
Net change in cash
316
-101
-180
-20.7
8.25
6.53
Free cash flow
-25.4
-53.3
-71
-66.4
-49.7
-46.2
Income taxes paid
0
0.65
0.23
0
0.15
0.18
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.91 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
47.7%
Gross profit / revenue.
Operating margin
-498.2%
Operating income / revenue.
EBITDA margin
-465.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-477.5%
Pre-tax income / revenue.
Net margin
-478.0%
Net income / revenue.
FCF margin
-311.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-305.1%
Cash from operations / revenue.
Return on equity (ROE)
-30.1%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-26.5%
Net income / average total assets.
Return on invested capital (ROIC)
-28.0%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
264.1%
Research and development expense / revenue.
SG&A / revenue
281.7%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
74.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
6.0%
Capital expenditures / revenue.
D&A / revenue
32.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
17.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
2.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
90.8%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
20.0%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
6.1%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
66.8%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-20.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-16.6%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-9.7%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-19.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-15.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-7.7%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
14.7x
Current assets / current liabilities.
Quick ratio
13.6x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
13.6x
(Cash + short-term investments) / current liabilities.
Market cap + total debt - cash - short-term investments.
P/S
7.44x
Market cap / revenue.
P/B
0.47x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.47x
Market cap / tangible book value, when positive.
FCF yield
-41.8%
Free cash flow / market cap.
Earnings yield
-64.3%
Net income / market cap (the inverse of P/E).
What was Seer, Inc.'s revenue in fiscal 2025?
Seer, Inc. reported revenue of $16.6M for fiscal 2025, 17% higher than the year before.
Was Seer, Inc. profitable in fiscal 2025?
No. It reported a net loss of $73.6M.
How much free cash flow did Seer, Inc. generate in fiscal 2025?
Cash from operations of $44.4M minus capital expenditures of $1.8M left free cash flow of -$46.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.