Form 8-K

8-K — Seer, Inc.

Accession: 0001193125-26-221696

Filed: 2026-05-13

Period: 2026-05-13

CIK: 0001726445

SIC: 3826 (LABORATORY ANALYTICAL INSTRUMENTS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ck0001726445-20260513.htm (Primary)

EX-99.1 (ck0001726445-ex99_1.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: ck0001726445-20260513.htm · Sequence: 1

8-K

false000172644500017264452026-05-132026-05-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

May 13, 2026

Seer, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-39747

82-1153150

(State or other jurisdiction of

(Commission

(I.R.S. Employer

incorporation)

File Number)

Identification No.)

3800 Bridge Parkway, Suite 102

Redwood City, California 94065

(Address of principal executive offices, including zip code)

650-453-0000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last reports)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Class A Common Stock, par value $0.00001 per share

SEER

The NASDAQ Stock Market LLC

(The NASDAQ Global Select Market)

Preferred Stock Purchase Rights

N/A

The NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On May 13, 2026, Seer, Inc. issued a press release (the “Press Release”) announcing results for the quarter ended March 31, 2026. A copy of the Press Release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated by reference herein.

The information under Item 2.02 in this current report on Form 8-K and the related information in the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.1

Press Release dated May 13, 2026.

104

Cover Page from this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SEER, INC.

Date: May 13, 2026

By:

/s/ David Horn

David Horn

President and Chief Financial Officer

EX-99.1

Filename: ck0001726445-ex99_1.htm · Sequence: 2

EX-99.1

Seer Reports First Quarter 2026 Financial Results

and Reaffirms Full Year 2026 Outlook

REDWOOD CITY, Calif. – May 13, 2026 – Seer, Inc. (Nasdaq: SEER) (“Seer” or the “Company”), the pioneer and trusted partner for deep, unbiased proteomic insights, today announced financial results for the quarter ended March 31, 2026.

Recent Highlights

•

Achieved revenue of $2.8 million in the first quarter of 2026

•

Achieved a doubling of independent publications year-over-year to 84 total, accelerating third-party validation of Seer’s platform

•

Secured a collaboration with Precision Health Research, Singapore to provide deep, unbiased proteomics on 10,000 samples for their PRECISE-SG100K study, a landmark multi-ancestry, population-scale cohort of approximately 100,000 Singapore residents

•

Strengthened the leadership team with the appointment of Anthony (Tony) Bazarko as Chief Commercial Officer, bringing deep expertise to drive strategy, partnerships, and market adoption.

•

Successfully defended and reinforced Seer's IP position through a U.S. Patent and Trademark Office Final Written Decision

•

Repurchased approximately 1.5 million Class A common shares under our share repurchase program authorization

•

Ended the quarter with approximately $220 million of cash, cash equivalents, and investments

"Seer executed on several important drivers to advance the long-term trajectory of the business by generating traction on large-scale contracts with biobanks and supporting continued third-party validation of our platform," said Omid Farokhzad, Chair and Chief Executive Officer. "Seer sits at the forefront of deep, unbiased proteomics, a large and expanding market with profound scientific and commercial potential. We are building this market from the ground up, and the foundation we are laying is increasingly recognized by the world's leading scientists and institutions. We look forward to advancing our vision to empower the scientific community with unbiased proteomics solutions while creating value for all stakeholders."

First Quarter 2026 Financial Results

Revenue was $2.8 million for the first quarter of 2026, a 34% decrease from $4.2 million for the corresponding prior year period, primarily due to the continued depressed academic funding environment and competitive activity in the space we have pioneered. Product revenue for the first quarter of 2026 was $2.1 million, consisting of sales of Proteograph instruments and consumable kits. Service revenue was $596 thousand for the first quarter of 2026, including $56 thousand of related party revenue, and primarily consisting of revenue related to Seer Technology Access Center service projects. Other revenue was $87 thousand for the first quarter of 2026.

Gross profit was $982 thousand and gross margin was 35% for the first quarter of 2026.

Operating expenses were $18.2 million for the first quarter of 2026, including $2.1 million in stock-based compensation, a decrease of 20% compared to $22.8 million for the corresponding prior year period, including $4.5 million in stock-based compensation. The decrease in operating expenses was primarily driven by a decrease in employee compensation expenses, including stock-based compensation.

Net loss was $16.8 million for the first quarter of 2026, compared to $19.9 million for the corresponding prior year period.

Free cash flow, defined as net cash used in operating activities of approximately $15.4 million, less net purchases of property and equipment of approximately $270 thousand, for the quarter was approximately negative $15.7 million.

Cash, cash equivalents and investments were approximately $220 million as of March 31, 2026.

2026 Guidance

Seer continues to expect full year 2026 revenue to be in the range of $16 million to $18 million, representing growth of 3% at the midpoint over full year 2025.

Webcast Information

Seer will host a conference call to discuss the first quarter 2026 financial results on Wednesday, May 13, 2026, at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at https://investor.seer.bio. The webcast will be archived and available for replay for at least 90 days after the event.

About Seer, Inc.

Seer, Inc. (Nasdaq: SEER) sets the standard in deep, unbiased proteomics, delivering insights with a scale, speed, precision and reproducibility previously unattainable. Seer’s Proteograph® Product Suite integrates proprietary engineered nanoparticles, streamlined automation instrumentation, optimized consumables and advanced analytical software to overcome the limitations of traditional proteomic methods. Seer’s products are for research use only and are not intended for diagnostic procedures. For more information, visit www.seer.bio.

For more information, please email us at pr@seer.bio.

Forward Looking Statements

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements are based on Seer’s beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause Seer’s actual results, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. These statements include but are not limited to statements regarding Seer’s plans and expectations regarding the adoption of Seer’s products. These and other risks are described more fully in Seer’s filings with the Securities and Exchange Commission (“SEC”) and other documents that Seer subsequently files with the SEC from time to time. Except to the extent required by law, Seer undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Media Contact:

Patrick Schmidt

pr@seer.bio

Investor Contact:

Marissa Bych

investor@seer.bio

SEER, INC.

Condensed Consolidated Statements of Operations and Comprehensive Loss

(Unaudited)

(in thousands, except share and per share amounts)

Three Months Ended March 31,

2026

2025

Revenue:

Product

2,110

2,890

Service

540

1,203

Related party

Other

Total revenue

2,793

4,205

Cost of revenue:

Product

1,395

1,374

Service

170

531

Related party

Other

240

169

Total cost of revenue

1,811

2,144

Gross profit

982

2,061

Operating expenses:

Research and development

8,806

11,350

Selling, general and administrative

9,432

11,442

Total operating expenses

18,238

22,792

Loss from operations

(17,256

)

(20,731

)

Other income (expense):

Interest income

2,225

3,217

Loss on equity method investment

(1,728

)

(1,575

)

Other expense

(68

)

(758

)

Total other income

429

884

Loss before provision for income taxes

(16,827

)

(19,847

)

Provision for income taxes

101

Net loss

(16,837

)

(19,948

)

Other comprehensive loss:

Unrealized gain (loss) on available-for-sale securities

(523

)

169

Comprehensive loss

(17,360

)

(19,779

)

Net loss per share attributable to Class A and Class B common stockholders,

basic and diluted

(0.30

)

(0.34

)

Weighted-average shares used in computing net loss per share attributable to

Class A and Class B common stockholders, basic and diluted

55,995,933

59,408,711

SEER, INC.

Condensed Consolidated Balance Sheets

(Unaudited)

(in thousands, except share and per share amounts)

March 31,

2026

December 31,

2025

ASSETS

Current assets:

Cash and cash equivalents

47,318

47,285

Short-term investments

119,354

138,612

Accounts receivable, net

3,200

4,282

Related party receivables

300

Other receivables

1,000

1,370

Inventory

8,079

7,795

Prepaid expenses and other current assets

2,586

1,890

Total current assets

181,593

201,534

Long-term investments

52,848

54,686

Operating lease right-of-use assets

19,890

20,488

Property and equipment, net

13,485

14,754

Restricted cash

524

Other assets

3,792

4,097

Total assets

272,132

296,083

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

2,497

5,611

Accrued expenses

4,730

7,135

Deferred revenue

334

341

Operating lease liabilities, current

2,644

2,575

Other current liabilities

Total current liabilities

10,243

15,691

Operating lease liabilities, net of current portion

20,384

21,077

Other noncurrent liabilities

Total liabilities

30,653

36,776

Commitments and contingencies

Stockholders’ equity:

Preferred stock, $0.00001 par value; 5,000,000 shares authorized as of

March 31, 2026 and December 31, 2025; zero shares issued and

outstanding as of March 31, 2026 and December 31, 2025

—

Class A common stock, $0.00001 par value; 94,000,000 shares authorized

as of March 31, 2026 and December 31, 2025; 55,065,984 and

56,219,599 shares issued and outstanding as of March 31, 2026 and

December 31, 2025, respectively

Class B common stock, $0.00001 par value; 134,268 shares authorized

as of March 31, 2026 and December 31, 2025; zero shares

issued and outstanding as of March 31, 2026 and December 31, 2025

—

Additional paid-in capital

724,351

724,819

Accumulated other comprehensive gain (loss)

(64

)

459

Accumulated deficit

(482,809

)

(465,972

)

Total stockholders’ equity

241,479

259,307

Total liabilities and stockholders’ equity

272,132

296,083

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