The following is a summary of the Seer, Inc. (SEER) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Seer reported a Q4 2023 revenue of $4.4 million, a 4% decrease from Q4 2022, primarily due to a decrease in lease revenue related to SP100 instruments.

• The company's gross margin in Q4 2023 was 45.1% compared to 49.8% in Q4 2022.

• Q4 net loss was $17.8 million compared to $22.5 million in Q4 2022.

• Despite the Q4 decrease, Seer's total revenue for FY 2023 increased by 8%, rising from $15.5 million in 2022 to $16.7 million.

• The net loss for the year was $86.3 million, less than the $93 million loss in 2022.

• The company reported approximately $373.1 million in cash, cash equivalents, and investments at the end of 2023.

Business Progress:

• A major part of Seer's revenue increase in 2023 is attributed to service revenue related to its STAC (Seer Technology Access Center).

• The company managed to ship 23 SP100 instruments in 2023, for a cumulative total of 62 instruments shipped till the end of the year.

• Key growth strategies for 2024 include driving evidence and publication, improving access, and promoting product innovation and applications.

• Operational enhancements in 2023 included launching the Proteograph XT Assay Kit and enhancing the Proteograph Analysis Suite.

• The company made its Protein Discovery Catalog of over 10,000 detectable proteins available to customers.

• Seer expanded its Centers of Excellence programs with the addition of Panome Bio and also brought on board four new international distributors and partners.

More details: Seer Inc IR

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