One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Sera Prognostics, Inc.
SERA · NGM · Healthcare · Medical Devices
Current price
$2.03
52-week range
$1.56 - $3.85
Market cap
$80.08M
Balance sheet
Healthy
-4,056.00x Concerning
Net cash $43.44M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
3 Risks
0 rewards · 3 risks
- Risk Operating margin compressed from -17034.3% to -33346.7% over 3 years.
- Risk Return on equity was -45.0% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 12.1% (peer median: 24.2%).
What this company does
Sera Prognostics, Inc.
Sera Prognostics sells blood tests for pregnant women that help predict potential health issues for the baby, and their money mainly comes from selling these tests to doctors and healthcare providers. This matters because these tests can help doctors identify risks early, leading to better care and outcomes for mothers and babies.
How the company got here
Sera Prognostics was founded in 2008 with the goal of improving maternal and neonatal health through advanced diagnostic tests. The company's journey has been focused on developing and commercializing blood-based biomarker tests that can predict pregnancy-related complications. A key turning point was the development and validation of their flagship product, the PreTRM test, which aims to identify the risk of spontaneous preterm birth early in pregnancy. This has involved significant investment in research and development, clinical studies, and building a proprietary proteomics and bioinformatics platform to analyze complex biological data. The company has transitioned from a clinical-stage to a commercial-stage entity, focusing on expanding market adoption and revenue generation.
What it actually does
Sera Prognostics is a healthcare diagnostics company that specializes in women's health. They develop and sell blood tests that help predict the risk of certain pregnancy complications. Think of it like a specialized screening tool for expectant mothers. Their main goal is to provide doctors with crucial information early in pregnancy so they can take proactive steps to improve outcomes for both the mother and the baby, and potentially reduce healthcare costs associated with complications.
The PreTRM Test
The PreTRM test is Sera Prognostics' primary product and represents their main business line. This is a non-invasive blood test given to pregnant women between weeks 18 and 21 of their pregnancy. It analyzes specific protein biomarkers in the mother's blood to predict her individual risk of delivering the baby prematurely, meaning before 37 weeks of gestation. The test is designed for asymptomatic singleton pregnancies, meaning it's for women who don't show obvious signs of risk. By identifying higher-risk pregnancies early, doctors can implement targeted interventions, such as specific treatments or closer monitoring, to help prevent preterm birth and its associated complications. This test is sold to healthcare providers, who then use it to inform their patient care.
What management is betting on now
Sera Prognostics' management is focused on accelerating the adoption and commercialization of the PreTRM test. This involves building awareness among clinicians and healthcare payers (like insurance companies) about the test's benefits and clinical validation. They are actively pursuing partnerships and engaging with payers to secure coverage and reimbursement for the test, which is crucial for widespread use. The company is also investing in further clinical evidence and expanding its market reach, particularly in high-value markets, to drive revenue growth and establish PreTRM as a standard of care in prenatal diagnostics.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-7.02M
FY2024 Q4
$-6.27M
FY2025 Q1
$-7.56M
FY2025 Q2
$-5.75M
FY2025 Q3
$-6.59M
FY2025 Q4
$-6.45M
FY2026 Q1
$-8.78M
FY2026 Q2
$-6.33M
Revenue
$30.00K
Net income
$-9.14M
Diluted EPS
-0.18
Operating cash flow
$-6.31M
Free cash flow
$-6.33M
Fetching…
Sources
Revenue
$14.00K
Net income
$-8.40M
Diluted EPS
-0.17
Operating cash flow
$-8.77M
Free cash flow
$-8.78M
Fetching…
Sources
Revenue
$10.00K
Net income
$-7.88M
Diluted EPS
-0.15
Operating cash flow
$-6.12M
Free cash flow
$-6.45M
Fetching…
Sources
Revenue
$16.00K
Net income
$-7.81M
Diluted EPS
-0.16
Operating cash flow
$-6.48M
Free cash flow
$-6.59M
Fetching…
Sources
Revenue
$17.00K
Net income
$-8.05M
Diluted EPS
-0.16
Operating cash flow
$-5.47M
Free cash flow
$-5.75M
Fetching…
Sources
Revenue
$38.00K
Net income
$-8.19M
Diluted EPS
-0.20
Operating cash flow
$-7.55M
Free cash flow
$-7.56M
Fetching…
Sources
Revenue
$24.00K
Net income
$-8.58M
Diluted EPS
-0.25
Operating cash flow
$-6.26M
Free cash flow
$-6.27M
Fetching…
Sources
Revenue
$29.00K
Net income
$-7.92M
Diluted EPS
-0.24
Operating cash flow
$-7.00M
Free cash flow
$-7.02M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $2.03
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $43.4M - more cash than debt. Interest coverage -4056.0x.
Net debt
$-43.44M
Interest coverage
-4,056.00x
Sera Prognostics, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
SERA
BASELINE
Sera Prognostics, Inc.
Total debt $3.00M Interest coverage -4,056.00x This is the baseline the peer rows are being compared against.
Total debt $27.66M Interest coverage -3.26x Neither company has much profit cushion over interest right now.
Total debt $210.50M Interest coverage -6.46x Neither company has much profit cushion over interest right now.
Total debt $71.80M Interest coverage -3.60x Neither company has much profit cushion over interest right now.
Total debt $0.00 Interest coverage 13.01x This peer still has a real interest-payment cushion, while SERA does not.
Total debt $1.27M Interest coverage -987.92x Neither company has much profit cushion over interest right now.
What you should know
The case for and against SERA
0 Rewards
3 Risks
Rewards
Risks
-
Operating margin compressed from -17034.3% to -33346.7% over 3 years.
-
Return on equity was -45.0% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 12.1% (peer median: 24.2%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-3.79x
P/B
1.35x
P/S
1,144.03x
EV/EBITDA
-1.02x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
-150.0%
Operating margin
-33,346.7%
Net margin
0.0%
ROE
-45.0%
ROA
-23.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.05x
Current ratio
1.98x
Quick ratio
1.91x
Total debt
$3.00M
Total cash
$46.45M
Growth
How the business has been compounding
Revenue TTM
$70.00K
Revenue 5Y CAGR
-0.3%
EPS TTM
-0.67
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-27.68M
Free CF TTM
$-26.35M
FCF margin
-37,641.4%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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