Sera Prognostics

SERA

Medical - Diagnostics & Research · Healthcare

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Data not available

Valuation

Data not available

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Winston Score History

The full picture

Sera Prognostics is a small biotech company focused on predicting pregnancy complications before they happen. Its main product is PreTRM, a blood test for pregnant women that measures protein levels to estimate the risk of preterm birth. The company sells to hospitals, OB-GYN clinics, and health systems in the United States.

Sera Prognostics makes money by charging for each PreTRM test performed, which is a fee-per-test revenue model. The company operates almost entirely in the US and is very small, with a market cap around $100 million. Its negative gross margin shows it currently costs more to deliver tests than it earns, meaning the business is not yet profitable. The biggest challenge ahead is convincing insurance companies to broadly cover the test, since limited reimbursement is the main barrier to wider adoption and revenue growth.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+76.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-12.5% YoY

YoY Growth Rate

Earnings declining

Insider Activity

28.1%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~22 months

$46M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

Sera Prognostics grew revenue 76% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

-66.7%

Thin — -66.7% gross margin

Profit after running costs

Operating Margin

-33346.7%

Losing money on operations — -33346.7%

Return on the money invested

ROCE

-62.8%

Weak — -62.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-35.2%

Shrinking sales (-35.2% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-40211.4%

Burning cash (-40211.4%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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