Release Date: November 06, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Given the midpoint of your 2024 guidance of $14 million, it seems to imply a flat or slightly negative sequential step down from Q3 to Q4. Can you talk about your assumptions surrounding this? A: (David Horn, CFO) The guidance reflects timing issues with our pipeline opportunities. If deals close favorably, we could hit the high end of the range, but delays could affect outcomes. We continue to see budget pressures and are not forecasting a budget flush for Q4, which may seem conservative but reflects our current position.
Q: Has the expansion of your sales and marketing team driven the beat this quarter, and when can we expect benefits from this initiative to flow through to the P&L? A: (Omid Farokhzad, CEO) The expansion, including new regional business managers and a VP of global marketing, is ramping up and creating opportunities. We expect to see benefits later this year and into 2025.
Q: What is driving the shift towards academic customers, and how does it relate to publications and capital constraints from larger BioPharma customers? A: (Omid Farokhzad, CEO) The shift is partly due to increased evidence and publications, allowing academics to secure funding. While commercial customers face capital constraints, the growing data and evidence are driving larger studies, with more academic opportunities emerging.
Q: How should we think about the evolution of the affinity-based proteomics market as more solutions become available? A: (Omid Farokhzad, CEO) The proteomics market is growing, with untargeted approaches like ours becoming more viable. Targeted approaches will coexist, driven by the discovery of new content through untargeted methods, creating a flywheel effect that expands the market.
Q: How do you anticipate your collaboration with Thermo Fisher will impact Seer's market reach and top line? A: (Omid Farokhzad, CEO) The partnership with Thermo Fisher is well-timed, leveraging their sales process to potentially shorten our sales cycle. Customers focusing on biofluids like plasma will benefit most, as our product significantly enhances protein detection in these samples.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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