2023 Q1 Form 10-Q Financial Statement

#000162828023016850 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $4.053M $4.605M
YoY Change 22.37% 50.2%
Cost Of Revenue $1.985M $2.310M
YoY Change -4.01% 41.46%
Gross Profit $2.068M $2.295M
YoY Change 66.24% 60.15%
Gross Profit Margin 51.02% 49.84%
Selling, General & Admin $15.04M $14.61M
YoY Change 5.18% 11.63%
% of Gross Profit 727.22% 636.78%
Research & Development $14.47M $12.63M
YoY Change 34.87% 53.74%
% of Gross Profit 699.9% 550.33%
Depreciation & Amortization $1.200M $1.103M
YoY Change 33.33% 31.94%
% of Gross Profit 58.03% 48.06%
Operating Expenses $29.51M $27.24M
YoY Change 17.91% 27.86%
Operating Profit -$27.45M -$24.95M
YoY Change 15.38% 25.54%
Interest Expense $3.717M $2.497M
YoY Change 2481.25% 1749.63%
% of Operating Profit
Other Income/Expense, Net $3.486M -$73.00K
YoY Change 2390.0%
Pretax Income -$23.96M -$22.53M
YoY Change 1.32% 14.11%
Income Tax
% Of Pretax Income
Net Earnings -$23.96M -$22.53M
YoY Change 1.32% 14.11%
Net Earnings / Revenue -591.14% -489.14%
Basic Earnings Per Share -$0.38
Diluted Earnings Per Share -$0.38 -$0.36
COMMON SHARES
Basic Shares Outstanding 63.54M shares
Diluted Shares Outstanding 63.54M shares

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $352.1M $421.2M
YoY Change -20.92% 5.29%
Cash & Equivalents $48.39M $53.21M
Short-Term Investments $303.7M $368.0M
Other Short-Term Assets $4.380M $2.098M
YoY Change 3.77% -37.11%
Inventory $3.718M $4.627M
Prepaid Expenses $4.380M $2.098M
Receivables $4.735M $4.315M
Other Receivables $1.065M $899.0K
Total Short-Term Assets $367.4M $435.0M
YoY Change -19.69% 5.66%
LONG-TERM ASSETS
Property, Plant & Equipment $18.68M $19.41M
YoY Change 36.77% 48.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $58.42M $5.157M
YoY Change 120.02% -94.47%
Other Assets $853.0K $855.0K
YoY Change 74.08% 70.66%
Total Long-Term Assets $105.4M $52.95M
YoY Change 51.39% -58.45%
TOTAL ASSETS
Total Short-Term Assets $367.4M $435.0M
Total Long-Term Assets $105.4M $52.95M
Total Assets $472.8M $487.9M
YoY Change -10.3% -9.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.956M $2.104M
YoY Change -40.57% -44.47%
Accrued Expenses $7.175M $8.298M
YoY Change 12.51% -1.14%
Deferred Revenue $263.0K $133.0K
YoY Change -33.25% -64.63%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.75M $12.58M
YoY Change 5.4% -6.25%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $360.0K $320.0K
YoY Change 5.57% -6.16%
Total Long-Term Liabilities $360.0K $320.0K
YoY Change 5.57% -6.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.75M $12.58M
Total Long-Term Liabilities $360.0K $320.0K
Total Liabilities $39.80M $40.94M
YoY Change -2.04% 13.01%
SHAREHOLDERS EQUITY
Retained Earnings -$243.5M -$219.5M
YoY Change 62.12% 73.48%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $433.0M $447.0M
YoY Change
Total Liabilities & Shareholders Equity $472.8M $487.9M
YoY Change -10.3% -9.5%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$23.96M -$22.53M
YoY Change 1.32% 14.11%
Depreciation, Depletion And Amortization $1.200M $1.103M
YoY Change 33.33% 31.94%
Cash From Operating Activities -$19.33M -$14.26M
YoY Change 0.94% 15.26%
INVESTING ACTIVITIES
Capital Expenditures $121.0K $4.973M
YoY Change -88.8% -472.79%
Acquisitions
YoY Change
Other Investing Activities $14.60M $2.262M
YoY Change 21.67% -102.63%
Cash From Investing Activities $14.48M -$2.711M
YoY Change 32.59% -96.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $30.00K 2.106M
YoY Change -96.01% 65.96%
NET CHANGE
Cash From Operating Activities -$19.33M -14.26M
Cash From Investing Activities $14.48M -2.711M
Cash From Financing Activities $30.00K 2.106M
Net Change In Cash -$4.822M -14.86M
YoY Change -35.53% -84.93%
FREE CASH FLOW
Cash From Operating Activities -$19.33M -$14.26M
Capital Expenditures $121.0K $4.973M
Free Cash Flow -$19.45M -$19.23M
YoY Change -3.85% 74.25%

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CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
2990000 usd
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
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CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
146130000 usd
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
12000000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
14479000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
10920000 usd
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
21000 usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
30000 usd
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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NetCashProvidedByUsedInFinancingActivities
30000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
752000 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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PropertyPlantAndEquipmentTransfersAndChanges
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CY2022Q1 us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
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RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
514000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6855000 usd
CY2023Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
352100000 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including, but not limited to, those related to the determination of stand-alone selling price for revenue recognition, the fair value of common stock, stock-based compensation, accrued research and development expenses, allowance for credit losses, inventory valuation, useful lives and valuation of property and equipment, income tax uncertainties, and tax valuation allowances.</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from those estimates.</span></div>
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk and Other Risks and Uncertainties</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, and investments. The Company maintains bank deposits in federally insured </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">financial institutions, and these deposits may exceed federally insured limits. The Company is exposed to credit risk in the event of default by the financial institutions holding its cash and cash equivalents and issuers of investments to the extent account balances exceed the amount insured by the Federal Deposit Insurance Corporation (FDIC). On March 10, 2023, Silicon Valley Bank (SVB) was closed by the California Department of Financial Protection and Innovation and the FDIC was appointed as receiver. On March 27, 2023, First-Citizens Bank &amp; Trust Company assumed all of SVB's deposits and loans. In light of the foregoing, the Company does not believe that it has exposure to loss as a result of SVB’s receivership. As of March 31, 2023, the Company held $0.8 million in SVB and has not experienced any losses on its deposits of cash, cash equivalents and investments.</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the three months ended March 31, 2023 and 2022, the Company recognized revenue from a related party that represented 32% of the Company’s total revenue. </span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the three months ended March 31, 2023, 22% of the total revenue was generated outside of the United States, primarily from countries in Asia and Europe. For the three months ended March 31, 2022, 25% of the total revenue was generated outside of the United States, primarily from countries in Asia and Europe.</span></div><div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of March 31, 2023 and December 31, 2022, there was one related party customer which represented 23% and 25%, respectively, of the total accounts receivable balance. As of December 31, 2022, there were two additional customers which represented 10% and 12% of the total accounts receivable balance.</span></div>
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CashAndCashEquivalentsAtCarryingValue
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CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
524000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
524000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48910000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53732000 usd
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
24000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
30000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
410605000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
292000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
387000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
410510000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
427647000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
40000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1291000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
426396000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
100000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
100000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
58400000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Term
DebtSecuritiesAvailableForSaleTerm
P1Y
CY2023Q1 us-gaap Accrued Liabilities Fair Value Disclosure
AccruedLiabilitiesFairValueDisclosure
700000 usd
CY2022Q4 us-gaap Accrued Liabilities Fair Value Disclosure
AccruedLiabilitiesFairValueDisclosure
600000 usd
CY2023Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1592000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
2129000 usd
CY2023Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
205000 usd
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
271000 usd
CY2023Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
1921000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2227000 usd
CY2023Q1 us-gaap Inventory Net
InventoryNet
3718000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
4627000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
27057000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
27229000 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8382000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7821000 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18675000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19408000 usd
CY2023Q1 seer Accrued Compensation
AccruedCompensation
3806000 usd
CY2022Q4 seer Accrued Compensation
AccruedCompensation
6139000 usd
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
458000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
322000 usd
CY2023Q1 seer Accrued Property And Equipment
AccruedPropertyAndEquipment
198000 usd
CY2022Q4 seer Accrued Property And Equipment
AccruedPropertyAndEquipment
300000 usd
CY2023Q1 seer Accrued Research And Development
AccruedResearchAndDevelopment
259000 usd
CY2022Q4 seer Accrued Research And Development
AccruedResearchAndDevelopment
235000 usd
CY2023Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
790000 usd
CY2022Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
335000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1664000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
967000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7175000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8298000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
133000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
376000 usd
CY2023Q1 seer Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
614000 usd
CY2022Q1 seer Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
233000 usd
CY2023Q1 seer Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
441000 usd
CY2022Q1 seer Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
476000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
306000 usd
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
133000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3100000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.77
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q1 seer Lessee Incremental Borrowing Rate
LesseeIncrementalBorrowingRate
0.062
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
105000000 shares
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
63739319 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
63739319 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
63411046 shares
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
63411046 shares
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3846000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3957000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10214430 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.90
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2247900 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.60
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
13595 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.20
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
101825 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
12.77
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12346910 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.23
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
5241662 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
8.76
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4072000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8724000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8062000 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Number Of Employees Affected
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationNumberOfEmployeesAffected
1 planparticipant
CY2022Q1 seer Share Based Compensation Arrangement By Share Based Payment Award Options Modifications To Extend Term And Vesting Shares
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsModificationsToExtendTermAndVestingShares
1330892 shares
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
900000 usd
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P8Y
CY2022Q2 us-gaap Share Price
SharePrice
7.40
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2023Q1 us-gaap Lessor Operating Lease Renewal Term
LessorOperatingLeaseRenewalTerm
P5Y
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P9Y4M24D
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1038000 usd
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
813000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
161000 usd
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
194000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
10000 usd
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
69000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
1209000 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
1076000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2961000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3969000 usd
CY2023Q1 seer Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
21065000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
39870000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9998000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
29872000 usd
CY2023Q1 us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
40000 usd
CY2022Q1 us-gaap Sales Type Lease Revenue
SalesTypeLeaseRevenue
0 usd
CY2023Q1 us-gaap Purchase Obligation
PurchaseObligation
4300000 usd
CY2022Q4 us-gaap Purchase Obligation
PurchaseObligation
5700000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-23959000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-23646000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63543094 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63543094 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63543094 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63543094 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62003504 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62003504 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15841311 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13644277 shares

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R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
seer-20230331.htm Edgar Link pending
seer-20230331.xsd Edgar Link pending
Show.js Edgar Link pending
seer-20230331_def.xml Edgar Link unprocessable
seer-20230331_cal.xml Edgar Link unprocessable
seer-20230331_lab.xml Edgar Link unprocessable
seer-20230331_pre.xml Edgar Link unprocessable
seer-20230331_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable