Seer Inc. Class A Common Stock (SEER)

FairStock Score: 56/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Seer operates in a demanding field: tools for proteomics. It sells the Proteograph Product Suite to researchers. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $3.1 million and net income was -$16.9 million. Full-year 2025 revenue was $16.6 million with a net loss of $73.6 million; fiscal 2024 was $14.2 million revenue and -$86.6 million; fiscal 2023 was $16.7 million and -$86.3 million. The company has lost money in each of the last four years, which is why the computed Lynch category is none. Revenue is not compounding; FairStock's revenue growth figure is -23.65%. The balance sheet has low debt—D/E 0.10—but trailing free cash flow is -$44.2 million and FCF yield -37.9%, so shareholders are funding cash burn. Piotroski 3/9 and Altman Z 0.06 confirm fragility. The P/B of 0.52 at the 2026-10-13 close of $2.11 may look asset-backed, but with negative ROE -26.45%, ROCE -15.29%, and negative P/E -1.73, the book value is being consumed by losses. A moat? I see no demonstrated pricing power; revenue decline and high cash consumption suggest uncertain competitive position. Growth trajectory hinges on adoption of Proteograph, not on current financials. FairStock score 56/100 is middling at best. Without a path to positive cash flow, the equity is a speculative option on science, not a Graham bargain.

In plain English: Seer makes lab products that help researchers study proteins. The business is losing money, revenue has been falling, and it burns cash, though it carries little debt. At $2.11 a share, the price looks low compared with the company’s book value, but because there are no profits, it is hard to call the shares cheap based on current business results.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer