Seer Inc (NASDAQ: SEER) is a life sciences instrumentation company that develops and commercializes the Proteograph Product Suite, a platform for deep, unbiased proteomics research. Revenue comes from instrument sales, consumables, and services tied to the Proteograph platform, including STAC (sample-to-answer contract) services and centers of excellence service arrangements. The company is pre-profitability, reporting a net loss of $73.6 million in FY2025 and $86.6 million in FY2024, with an accumulated deficit of $466.0 million as of December 31, 2025. Seer held $240.6 million in cash, cash equivalents, and investments as of December 31, 2025. Founded and headquartered in Redwood City, California, Seer sells directly in North America, the United Kingdom, select European Union countries, and Asia Pacific, and uses international channel partners elsewhere. The platform targets pharmaceutical and academic researchers conducting population-scale proteomics, translational research, and AI-driven biological discovery, with emerging applications in animal health, bioprocessing, and clinical diagnostics.

Revenue model

Instrument sales and consumable sales tied to the Proteograph Product Suite, supplemented by STAC (sample-to-answer contract) services and centers of excellence service arrangements. No subscription or recurring revenue model is disclosed in the filing excerpts.

Products and services

Proteograph Product Suite: an instrument and consumable workflow combining proprietary nanoparticles (NPs) with liquid chromatography-mass spectrometry (LC-MS) for deep, unbiased proteomics. Applications include population-scale cohort studies, translational research (Alzheimer's disease, lung cancer), non-human research (mouse, canine, porcine, bovine, and other species), and bioprocessing host cell protein (HCP) analysis. PrognomiQ, a related entity, launched ProVue Lung in November 2025, a proteomics-based laboratory developed test for early lung cancer detection using Proteograph-generated data.

Customers and end markets

Pharmaceutical and biotech researchers, academic institutions, biobanks, and population-scale cohort programs. End markets include discovery research, translational and clinical research, precision medicine, AI-driven biological foundation model development, animal health, industrial bioprocessing, and early cancer detection.

Value-chain role

Instrument and consumable manufacturer selling into the proteomics research workflow. Seer manufactures nanoparticles in-house at Redwood City facilities and uses third-party manufacturers for certain components. The company also provides data generation services through STAC and centers of excellence partners, and distributes internationally through channel partners.

Geographic exposure

Direct sales presence in North America, the United Kingdom, select European Union countries, and Asia Pacific, as disclosed in the FY2025 10-K. International markets outside these regions served through channel partners.

Source: SEC 10-K, filed 2026-03-02

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