SEER - Seer stock tumbles aftermarket despite in-line Q2 earnings
- Seer ( NASDAQ: SEER ) stock tumbled 14.6% postmarket Tuesday despite the life sciences firm's largely in-line Q2 results .
- SEER reported Q2 GAAP EPS of -$0.37 vs. -$0.27 in Q2 2021.
- Revenue more than doubled to $3.6M, led by higher sales of the Proteograph Product Suite and related products.
- Product-related revenue was $3.5M, including $1.1M of related party revenue, and consisted of sales of SP100 instruments and consumable kits.
- Operating expenses increased 43.7% to $25M, including $8.4M of stock-based compensation, driven by increased employee compensation and other related costs as well as higher expenses related to expansion of SEER's facilities.
- SEER reiterated its 2022 revenue guidance.
- Shares of SEER, which ended 7.8% lower ahead of results after 3 consecutive monthly gains, have declined 56.1% YTD.
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Seer stock tumbles aftermarket despite in-line Q2 earnings