Earnings Releases·Nov 4, 2026, 4:10 PM ET

Sera Prognostics — Third Quarter 2026 Earnings Summary

PreTRM test revenue reached $42,000, a 163% year-over-year increase from Q3 2025, though sequential volume growth of 54% was partially offset by lower average selling prices due to a higher mix of low or non-reimbursed tests.
The company reported a net loss of $8.05 million for the quarter, with operating expenses declining 11% sequentially to $8.93 million, while cash and marketable securities stood at $72.8 million with a quarterly cash burn of $7.3 million.
Strategic expansion includes Florida Medicaid coverage for ~4 million beneficiaries and active contracting in Illinois, bringing total covered Medicaid lives to approximately 7 million, alongside a 25% sales team expansion to support these launches.
Management is transitioning from evidence generation to commercial execution, with a commercial organization scaling for FY2027, pending CE Mark submission for Europe, and ongoing discussions for a large multi-state insurer pilot.