SEER - Seer stock falls despite Q4 revenue soaring 813% Y/Y
Seer (SEER -3.0%) stock fell despite Q4 revenues rose 812.5% Y/Y to $3.07M. The increase was due to growth in sales of the Proteograph Product Suite, including SP100 instruments, consumable kits and product evaluations in the fourth of quarter of 2021. Product-related revenue was $3M, including $1.2M of related party revenue, and grant revenue was $34K. Gross profit, inclusive of grant revenue, was $1.4M and gross margin was 47% for Q4. Q4 net loss widened to -$19.74M, compared to -$12.94M in Q4 2020. Operating expenses increased to $21.31M, compared to $13.38M in Q4 2020. The was driven by increased employee compensation and other related expenses, including stock-based compensation and increased costs related to being a publicly traded company. Guidance 2022: The company expects full year 2022 revenue to be in the range of $14M to $16M. Consensus Revenue Estimate for 2022 is $14.84M. In 2022, Seer also expects to continue to increase investments
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Seer stock falls despite Q4 revenue soaring 813% Y/Y