Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Seer Reports Third Quarter 2023 Financial Results By: Seer, Inc. via GlobeNewswire November 07, 2023 at 16:05 PM EST REDWOOD CITY, Calif., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Seer, Inc. (Nasdaq: SEER), a life sciences company commercializing a disruptive new platform for proteomics, today reported financial results for the third quarter ended September 30, 2023. Recent Highlights Achieved revenue of $4.2 million for the third quarter of 2023, an increase of 5% over the prior year periodExpanded geographically with two new partners - Danyel Biotech in Israel and GeneTiCA in Eastern EuropeAdded Panome Bio to Centers of Excellence program to deliver innovative multi-omics servicesDemonstrated value of Proteograph Product Suite through increased customer publications available on bioRxivReceived ISO 27001 certification for increased information security and cybersecurity standards; ISO 13485 certification for quality management and to enable the utilization of products in FDA submissionsEnded the quarter with $380.8 million of cash, cash equivalents and investments “Our team made progress during the third quarter to drive adoption of the Proteograph Product Suite despite the ongoing macroeconomic headwinds impacting our customers,” said Omid Farokhzad, CEO and President. “It is encouraging to see more customer manuscripts move through the peer-review process. I am confident that as more third-party data and publications demonstrate the power of our differentiated technology, we will see increasing adoption of our technology.” Third Quarter 2023 Financial Results Revenue was $4.2 million for the three months ended September 30, 2023, a 5% increase from $4.0 million for the three months ended September 30, 2022. The increase was primarily due to increased instrument sales, services, and grant and other revenue, offset by lower consumables sales. Product-related revenue for the third quarter of 2023 was $3.3 million, including $1.4 million of related party revenue, and consisted of sales of SP100 instruments and consumable kits. Service revenue was $536 thousand and grant and other revenue was $348 thousand. Gross profit, inclusive of grant and other revenue, was $2.2 million and gross margin was 52% for the third quarter of 2023. Operating expenses were $28.0 million for the third quarter of 2023, including $8.3 million of stock-based compensation, an increase of 4%, as compared to $27.0 million, including $9.1 million of stock-based compensation, for the corresponding prior year period. The increase in expenses was primarily driven by an increase in product development efforts related to the Proteograph Product Suite, including employee compensation and other related expenses, offset by a decrease in professional services. Net loss was $21.1 million for the third quarter of 2023, as compared to $24.0 million for the corresponding prior year period. Cash, cash equivalents and investments were $380.8 million as of September 30, 2023. 2023 Guidance Given the Company’s performance year to date as well as the ongoing challenges in the current macroeconomic environment, Seer anticipates coming in at the lower half of its revenue guidance range of $16 million to $18 million. Webcast Information Seer will host a conference call to discuss the third quarter 2023 financial results on Tuesday, November 7, 2023 at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at http://investor.seer.bio. The webcast will be archived and available for replay for at least 90 days after the event. About Seer Seer™ is a life sciences company developing transformative products that open a new gateway to the proteome. Seer’s Proteograph™ Product Suite is an integrated solution that includes proprietary engineered nanoparticles, consumables, automation instrumentation and software to perform deep, unbiased proteomic analysis at scale in a matter of hours. Seer designed the Proteograph workflow to be efficient and easy to use, leveraging widely adopted laboratory instrumentation to provide a decentralized solution that can be incorporated by nearly any lab. Seer’s Proteograph Product Suite is for research use only and is not intended for diagnostic procedures. For more information, please visit www.seer.bio. Forward Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that reflect the Company’s current views with respect to certain current and future events and financial performance. Words such as “expects,” “anticipates,” “projects,” “intends,” “plans,” “believes,” “estimates,” variations of such words, and similar expressions are also intended to identify such forward-looking statements. Such forward-looking statements are based on the Company’s beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements, including but not limited to statements regarding the Company’s outlook for fiscal year 2023. These and other risks are described more fully in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s Quarterly Report on Form 10-Q, to be filed with the SEC, and other documents the Company subsequently files with the SEC from time to time. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Investor Contact:Carrie Mendivilinvestor@seer.bio Media Contact:Karen Possematopr@seer.bio Seer, Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(in thousands, except share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenue: Product$1,849 $2,571 $5,837 $7,126 Service 536 68 1,072 204 Related party 1,429 1,316 4,093 3,494 Grant and other 348 — 1,221 64 Total revenue 4,162 3,955 12,223 10,888 Cost of revenue: Product 1,181 1,371 3,735 4,674 Service 95 21 295 50 Related party 396 618 1,226 1,366 Grant and other 334 — 462 — Total cost of revenue 2,006 2,010 5,718 6,090 Gross profit 2,156 1,945 6,505 4,798 Operating expenses: Research and development 13,232 11,564 41,854 33,167 Selling, general and administrative 14,769 15,447 45,882 43,917 Total operating expenses 28,001 27,011 87,736 77,084 Loss from operations (25,845) (25,066) (81,231) (72,286)Other income (expense): Interest income 4,767 1,285 13,044 2,105 Other expense (10) (199) (291) (260)Total other income 4,757 1,086 12,753 1,845 Net loss$(21,088) $(23,980) $(68,478) $(70,441)Other comprehensive loss: Unrealized gain (loss) on available-for-sale securities 236 420 (45) (2,157)Comprehensive loss$(20,852) $(23,560) $(68,523) $(72,598)Net loss per share attributable to common stockholders, basic and diluted$(0.33) $(0.38) $(1.07) $(1.13)Weighted-average common shares outstanding, basic and diluted 63,929,743 62,538,983 63,747,155 62,308,314 Seer, Inc.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except share and per share amounts) September 30, December 31, 2023 2022 ASSETS Current assets: Cash and cash equivalents$36,396 $53,208 Short-term investments 294,852 368,031 Accounts receivable, net 5,492 4,315 Related party receivables 1,502 1,804 Other receivables 752 899 Inventory 4,225 4,627 Prepaid expenses and other current assets 2,903 2,098 Total current assets 346,122 434,982 Long-term investments 49,573 5,157 Operating lease right-of-use assets 25,774 27,003 Property and equipment, net 21,730 19,408 Restricted cash 524 524 Other assets 1,130 855 Total assets$444,853 $487,929 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$753 $2,104 Accrued expenses 9,147 8,298 Deferred revenue 185 133 Operating lease liabilities, current 2,310 1,842 Other current liabilities 123 207 Total current liabilities 12,518 12,584 Operating lease liabilities, net of current portion 26,499 28,032 Other noncurrent liabilities 157 320 Total liabilities 39,174 40,936 Commitments and contingencies Stockholders’ equity: Preferred stock, $0.00001 par value; 5,000,000 shares authorized as of September 30, 2023 and December 31, 2022; zero shares issued and outstanding as of September 30, 2023 and December 31, 2022 — — Class A common stock, $0.00001 par value; 94,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 59,932,008 and 59,366,077 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 1 1 Class B common stock, $0.00001 par value; 6,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 4,044,969 shares issued and outstanding as of September 30, 2023 and December 31, 2022 — — Additional paid-in capital 694,948 667,739 Accumulated other comprehensive loss (1,296) (1,251)Accumulated deficit (287,974) (219,496)Total stockholders’ equity 405,679 446,993 Total liabilities and stockholders’ equity$444,853 $487,929 Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. 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Seer Reports Third Quarter 2023 Financial Results By: Seer, Inc. via GlobeNewswire November 07, 2023 at 16:05 PM EST REDWOOD CITY, Calif., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Seer, Inc. (Nasdaq: SEER), a life sciences company commercializing a disruptive new platform for proteomics, today reported financial results for the third quarter ended September 30, 2023. Recent Highlights Achieved revenue of $4.2 million for the third quarter of 2023, an increase of 5% over the prior year periodExpanded geographically with two new partners - Danyel Biotech in Israel and GeneTiCA in Eastern EuropeAdded Panome Bio to Centers of Excellence program to deliver innovative multi-omics servicesDemonstrated value of Proteograph Product Suite through increased customer publications available on bioRxivReceived ISO 27001 certification for increased information security and cybersecurity standards; ISO 13485 certification for quality management and to enable the utilization of products in FDA submissionsEnded the quarter with $380.8 million of cash, cash equivalents and investments “Our team made progress during the third quarter to drive adoption of the Proteograph Product Suite despite the ongoing macroeconomic headwinds impacting our customers,” said Omid Farokhzad, CEO and President. “It is encouraging to see more customer manuscripts move through the peer-review process. I am confident that as more third-party data and publications demonstrate the power of our differentiated technology, we will see increasing adoption of our technology.” Third Quarter 2023 Financial Results Revenue was $4.2 million for the three months ended September 30, 2023, a 5% increase from $4.0 million for the three months ended September 30, 2022. The increase was primarily due to increased instrument sales, services, and grant and other revenue, offset by lower consumables sales. Product-related revenue for the third quarter of 2023 was $3.3 million, including $1.4 million of related party revenue, and consisted of sales of SP100 instruments and consumable kits. Service revenue was $536 thousand and grant and other revenue was $348 thousand. Gross profit, inclusive of grant and other revenue, was $2.2 million and gross margin was 52% for the third quarter of 2023. Operating expenses were $28.0 million for the third quarter of 2023, including $8.3 million of stock-based compensation, an increase of 4%, as compared to $27.0 million, including $9.1 million of stock-based compensation, for the corresponding prior year period. The increase in expenses was primarily driven by an increase in product development efforts related to the Proteograph Product Suite, including employee compensation and other related expenses, offset by a decrease in professional services. Net loss was $21.1 million for the third quarter of 2023, as compared to $24.0 million for the corresponding prior year period. Cash, cash equivalents and investments were $380.8 million as of September 30, 2023. 2023 Guidance Given the Company’s performance year to date as well as the ongoing challenges in the current macroeconomic environment, Seer anticipates coming in at the lower half of its revenue guidance range of $16 million to $18 million. Webcast Information Seer will host a conference call to discuss the third quarter 2023 financial results on Tuesday, November 7, 2023 at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at http://investor.seer.bio. The webcast will be archived and available for replay for at least 90 days after the event. About Seer Seer™ is a life sciences company developing transformative products that open a new gateway to the proteome. Seer’s Proteograph™ Product Suite is an integrated solution that includes proprietary engineered nanoparticles, consumables, automation instrumentation and software to perform deep, unbiased proteomic analysis at scale in a matter of hours. Seer designed the Proteograph workflow to be efficient and easy to use, leveraging widely adopted laboratory instrumentation to provide a decentralized solution that can be incorporated by nearly any lab. Seer’s Proteograph Product Suite is for research use only and is not intended for diagnostic procedures. For more information, please visit www.seer.bio. Forward Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that reflect the Company’s current views with respect to certain current and future events and financial performance. Words such as “expects,” “anticipates,” “projects,” “intends,” “plans,” “believes,” “estimates,” variations of such words, and similar expressions are also intended to identify such forward-looking statements. Such forward-looking statements are based on the Company’s beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements, including but not limited to statements regarding the Company’s outlook for fiscal year 2023. These and other risks are described more fully in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s Quarterly Report on Form 10-Q, to be filed with the SEC, and other documents the Company subsequently files with the SEC from time to time. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Investor Contact:Carrie Mendivilinvestor@seer.bio Media Contact:Karen Possematopr@seer.bio Seer, Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(in thousands, except share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenue: Product$1,849 $2,571 $5,837 $7,126 Service 536 68 1,072 204 Related party 1,429 1,316 4,093 3,494 Grant and other 348 — 1,221 64 Total revenue 4,162 3,955 12,223 10,888 Cost of revenue: Product 1,181 1,371 3,735 4,674 Service 95 21 295 50 Related party 396 618 1,226 1,366 Grant and other 334 — 462 — Total cost of revenue 2,006 2,010 5,718 6,090 Gross profit 2,156 1,945 6,505 4,798 Operating expenses: Research and development 13,232 11,564 41,854 33,167 Selling, general and administrative 14,769 15,447 45,882 43,917 Total operating expenses 28,001 27,011 87,736 77,084 Loss from operations (25,845) (25,066) (81,231) (72,286)Other income (expense): Interest income 4,767 1,285 13,044 2,105 Other expense (10) (199) (291) (260)Total other income 4,757 1,086 12,753 1,845 Net loss$(21,088) $(23,980) $(68,478) $(70,441)Other comprehensive loss: Unrealized gain (loss) on available-for-sale securities 236 420 (45) (2,157)Comprehensive loss$(20,852) $(23,560) $(68,523) $(72,598)Net loss per share attributable to common stockholders, basic and diluted$(0.33) $(0.38) $(1.07) $(1.13)Weighted-average common shares outstanding, basic and diluted 63,929,743 62,538,983 63,747,155 62,308,314 Seer, Inc.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except share and per share amounts) September 30, December 31, 2023 2022 ASSETS Current assets: Cash and cash equivalents$36,396 $53,208 Short-term investments 294,852 368,031 Accounts receivable, net 5,492 4,315 Related party receivables 1,502 1,804 Other receivables 752 899 Inventory 4,225 4,627 Prepaid expenses and other current assets 2,903 2,098 Total current assets 346,122 434,982 Long-term investments 49,573 5,157 Operating lease right-of-use assets 25,774 27,003 Property and equipment, net 21,730 19,408 Restricted cash 524 524 Other assets 1,130 855 Total assets$444,853 $487,929 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$753 $2,104 Accrued expenses 9,147 8,298 Deferred revenue 185 133 Operating lease liabilities, current 2,310 1,842 Other current liabilities 123 207 Total current liabilities 12,518 12,584 Operating lease liabilities, net of current portion 26,499 28,032 Other noncurrent liabilities 157 320 Total liabilities 39,174 40,936 Commitments and contingencies Stockholders’ equity: Preferred stock, $0.00001 par value; 5,000,000 shares authorized as of September 30, 2023 and December 31, 2022; zero shares issued and outstanding as of September 30, 2023 and December 31, 2022 — — Class A common stock, $0.00001 par value; 94,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 59,932,008 and 59,366,077 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 1 1 Class B common stock, $0.00001 par value; 6,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 4,044,969 shares issued and outstanding as of September 30, 2023 and December 31, 2022 — — Additional paid-in capital 694,948 667,739 Accumulated other comprehensive loss (1,296) (1,251)Accumulated deficit (287,974) (219,496)Total stockholders’ equity 405,679 446,993 Total liabilities and stockholders’ equity$444,853 $487,929
REDWOOD CITY, Calif., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Seer, Inc. (Nasdaq: SEER), a life sciences company commercializing a disruptive new platform for proteomics, today reported financial results for the third quarter ended September 30, 2023. Recent Highlights Achieved revenue of $4.2 million for the third quarter of 2023, an increase of 5% over the prior year periodExpanded geographically with two new partners - Danyel Biotech in Israel and GeneTiCA in Eastern EuropeAdded Panome Bio to Centers of Excellence program to deliver innovative multi-omics servicesDemonstrated value of Proteograph Product Suite through increased customer publications available on bioRxivReceived ISO 27001 certification for increased information security and cybersecurity standards; ISO 13485 certification for quality management and to enable the utilization of products in FDA submissionsEnded the quarter with $380.8 million of cash, cash equivalents and investments “Our team made progress during the third quarter to drive adoption of the Proteograph Product Suite despite the ongoing macroeconomic headwinds impacting our customers,” said Omid Farokhzad, CEO and President. “It is encouraging to see more customer manuscripts move through the peer-review process. I am confident that as more third-party data and publications demonstrate the power of our differentiated technology, we will see increasing adoption of our technology.” Third Quarter 2023 Financial Results Revenue was $4.2 million for the three months ended September 30, 2023, a 5% increase from $4.0 million for the three months ended September 30, 2022. The increase was primarily due to increased instrument sales, services, and grant and other revenue, offset by lower consumables sales. Product-related revenue for the third quarter of 2023 was $3.3 million, including $1.4 million of related party revenue, and consisted of sales of SP100 instruments and consumable kits. Service revenue was $536 thousand and grant and other revenue was $348 thousand. Gross profit, inclusive of grant and other revenue, was $2.2 million and gross margin was 52% for the third quarter of 2023. Operating expenses were $28.0 million for the third quarter of 2023, including $8.3 million of stock-based compensation, an increase of 4%, as compared to $27.0 million, including $9.1 million of stock-based compensation, for the corresponding prior year period. The increase in expenses was primarily driven by an increase in product development efforts related to the Proteograph Product Suite, including employee compensation and other related expenses, offset by a decrease in professional services. Net loss was $21.1 million for the third quarter of 2023, as compared to $24.0 million for the corresponding prior year period. Cash, cash equivalents and investments were $380.8 million as of September 30, 2023. 2023 Guidance Given the Company’s performance year to date as well as the ongoing challenges in the current macroeconomic environment, Seer anticipates coming in at the lower half of its revenue guidance range of $16 million to $18 million. Webcast Information Seer will host a conference call to discuss the third quarter 2023 financial results on Tuesday, November 7, 2023 at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at http://investor.seer.bio. The webcast will be archived and available for replay for at least 90 days after the event. About Seer Seer™ is a life sciences company developing transformative products that open a new gateway to the proteome. Seer’s Proteograph™ Product Suite is an integrated solution that includes proprietary engineered nanoparticles, consumables, automation instrumentation and software to perform deep, unbiased proteomic analysis at scale in a matter of hours. Seer designed the Proteograph workflow to be efficient and easy to use, leveraging widely adopted laboratory instrumentation to provide a decentralized solution that can be incorporated by nearly any lab. Seer’s Proteograph Product Suite is for research use only and is not intended for diagnostic procedures. For more information, please visit www.seer.bio. Forward Looking Statements This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that reflect the Company’s current views with respect to certain current and future events and financial performance. Words such as “expects,” “anticipates,” “projects,” “intends,” “plans,” “believes,” “estimates,” variations of such words, and similar expressions are also intended to identify such forward-looking statements. Such forward-looking statements are based on the Company’s beliefs and assumptions and on information currently available to it on the date of this press release. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements, including but not limited to statements regarding the Company’s outlook for fiscal year 2023. These and other risks are described more fully in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the Company’s Quarterly Report on Form 10-Q, to be filed with the SEC, and other documents the Company subsequently files with the SEC from time to time. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Investor Contact:Carrie Mendivilinvestor@seer.bio Media Contact:Karen Possematopr@seer.bio Seer, Inc.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(in thousands, except share and per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Revenue: Product$1,849 $2,571 $5,837 $7,126 Service 536 68 1,072 204 Related party 1,429 1,316 4,093 3,494 Grant and other 348 — 1,221 64 Total revenue 4,162 3,955 12,223 10,888 Cost of revenue: Product 1,181 1,371 3,735 4,674 Service 95 21 295 50 Related party 396 618 1,226 1,366 Grant and other 334 — 462 — Total cost of revenue 2,006 2,010 5,718 6,090 Gross profit 2,156 1,945 6,505 4,798 Operating expenses: Research and development 13,232 11,564 41,854 33,167 Selling, general and administrative 14,769 15,447 45,882 43,917 Total operating expenses 28,001 27,011 87,736 77,084 Loss from operations (25,845) (25,066) (81,231) (72,286)Other income (expense): Interest income 4,767 1,285 13,044 2,105 Other expense (10) (199) (291) (260)Total other income 4,757 1,086 12,753 1,845 Net loss$(21,088) $(23,980) $(68,478) $(70,441)Other comprehensive loss: Unrealized gain (loss) on available-for-sale securities 236 420 (45) (2,157)Comprehensive loss$(20,852) $(23,560) $(68,523) $(72,598)Net loss per share attributable to common stockholders, basic and diluted$(0.33) $(0.38) $(1.07) $(1.13)Weighted-average common shares outstanding, basic and diluted 63,929,743 62,538,983 63,747,155 62,308,314 Seer, Inc.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except share and per share amounts) September 30, December 31, 2023 2022 ASSETS Current assets: Cash and cash equivalents$36,396 $53,208 Short-term investments 294,852 368,031 Accounts receivable, net 5,492 4,315 Related party receivables 1,502 1,804 Other receivables 752 899 Inventory 4,225 4,627 Prepaid expenses and other current assets 2,903 2,098 Total current assets 346,122 434,982 Long-term investments 49,573 5,157 Operating lease right-of-use assets 25,774 27,003 Property and equipment, net 21,730 19,408 Restricted cash 524 524 Other assets 1,130 855 Total assets$444,853 $487,929 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable$753 $2,104 Accrued expenses 9,147 8,298 Deferred revenue 185 133 Operating lease liabilities, current 2,310 1,842 Other current liabilities 123 207 Total current liabilities 12,518 12,584 Operating lease liabilities, net of current portion 26,499 28,032 Other noncurrent liabilities 157 320 Total liabilities 39,174 40,936 Commitments and contingencies Stockholders’ equity: Preferred stock, $0.00001 par value; 5,000,000 shares authorized as of September 30, 2023 and December 31, 2022; zero shares issued and outstanding as of September 30, 2023 and December 31, 2022 — — Class A common stock, $0.00001 par value; 94,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 59,932,008 and 59,366,077 shares issued and outstanding as of September 30, 2023 and December 31, 2022, respectively 1 1 Class B common stock, $0.00001 par value; 6,000,000 shares authorized as of September 30, 2023 and December 31, 2022; 4,044,969 shares issued and outstanding as of September 30, 2023 and December 31, 2022 — — Additional paid-in capital 694,948 667,739 Accumulated other comprehensive loss (1,296) (1,251)Accumulated deficit (287,974) (219,496)Total stockholders’ equity 405,679 446,993 Total liabilities and stockholders’ equity$444,853 $487,929
