SEER — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-13

• Revenue for the three months ended March 31, 2026 decreased by $1.4 million, or 34%, compared to the three months ended March 31, 2025. The decrease was due to lower product sales and service revenue during the period.

• Cost of revenue for the three months ended March 31, 2026 decreased by $0.3 million, or 16%, compared to the three months ended March 31, 2025. The decrease was primarily due to lower service revenue.

• During the three months ended March 31, 2026, cash used in operating activities was $15.4 million, attributable to a net loss of $16.8 million and a net change in our operating assets and liabilities of $4.7 million, partially offset by non-cash charges of $6.1 million. Non-cash charges primarily co…

• During the three months ended March 31, 2025, cash used in operating activities was $11.4 million, attributable to a net loss of $19.9 million and a net change in our operating assets and liabilities of $1.2 million, partially offset by non-cash charges of $9.7 million. Non-cash charges primarily co…

• During the three months ended March 31, 2026, cash used in financing activities was $2.6 million, which was primarily attributable to the repurchases of Class A common stock under our share repurchase program.

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• Comparisons of the Three Months Ended September 30, 2025 and 2024

• Revenue remained flat during the three months ended September 30, 2025.

• Cost of revenue remained flat during the three months ended September 30, 2025.

• Comparisons of the Nine Months Ended September 30, 2025 and 2024

• The following table summarizes our results of operations for the periods presented:

Text added vs the prior filing · source: 10-Q · 2026-05-13

• We are executing on our commercialization plan and our revenues have been concentrated in a relatively small number of customers. For the three months ended March 31, 2026, there was one customer that accounted for 13% of the Company's total revenue. If one or more customers, terminate all or any po…

• As of March 31, 2026, we held approximately 24% of the outstanding capital stock of PrognomiQ. We may not realize the potential benefits of forming PrognomiQ for a variety of reasons, including:

• Additionally, organizational changes to the USPTO could increase the uncertainties, timing and costs related to the prosecution of our patent applications. Reductions in the staff available to process, review and make decisions regarding patent applications as well as complete other patent-related a…

• In June 2023, the European Unitary Patent system and the European Unified Patent Court (“UPC”) were launched. European patent applications now have the option, upon grant of a patent, of becoming a Unitary Patent which is subject to the jurisdiction of the UPC. In addition, conventional European pat…

• and on April 17, 2025, the Patent Trial and Appeal Board (PTAB) of the USPTO instituted Inter Partes Review of certain claims. The petition alleged, among other things, the challenged claims are invalid for anticipation or obviousness over the prior art. On March 23, 2026, the PTAB issued a Final Wr…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• We are in the early stages of our commercialization plan and our revenues have been concentrated in a relatively small number of customers, including a related party, PrognomiQ. For the nine months ended September 30, 2025, no single customer accounted for 10% or more of our revenue. For the nine mo…

• Moreover, European applications now have the option, upon grant of a patent, of becoming a Unitary Patent which will be subject to the jurisdiction of the Unitary Patent Court (UPC). This is a significant change in European patent practice. As the UPC is a new court system, there is limited preceden…

• We may not be aware of all third-party intellectual property rights potentially relating to our products or services. Publications of discoveries in the scientific literature often lag behind the actual discoveries, and patent applications in the United States and other jurisdictions are typically n…

• We may fail to satisfy one or more of the Nasdaq Global Select Market requirements for continued listing of our Class A common stock in the future. For example, on July 7, 2025, we notified The Nasdaq Stock Market LLC (Nasdaq) that following our 2025 annual meeting of stockholders, we would no longe…

• The multi-class structure of our common stock will have the effect of concentrating voting control with certain stockholders and it may depress the trading price of our Class A common stock.

Text added vs the prior filing · source: 10-Q · 2026-05-13

• During our last fiscal quarter, no directors or officers, as defined in Rule 16a-1(f) under the Exchange Act, adopted, modified and/or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” each as defined in Item 408 of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• On August 8, 2025, Deep Nishar, a member of the Board of Directors of the Company, entered into a Rule 10b5-1 trading plan. Mr. Nishar’s plan provides for the sale from time to time of an aggregate of up to 15,831 shares of Class A common stock. The trading plan will expire on July 31, 2026, or earl…

• Other than as disclosed above, no other director or officer, as defined in Rule 16a-1(f) under the Exchange Act, adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” each as defined in Item 408 of Regulation S-K, during the quarter ended September 30, 2…