Natera Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,306	1,697	1,083	820.22	625.49
Revenue Growth (YoY)	35.90%	56.75%	31.99%	31.13%	59.97%
Cost of Revenue	812.93	673.75	589.83	456.26	318.42
Gross Profit	1,493	1,023	492.74	363.97	307.07
Selling, General & Admin	1,177	841.31	618.31	588.59	511.03
Research & Development	624.11	404.14	320.68	316.42	264.21
Amortization of Goodwill & Intangibles	1.72	-	-	-	-
Operating Expenses	1,803	1,245	938.99	905.01	775.24
Operating Income	-309.91	-222.29	-446.25	-541.04	-468.17
Interest Expense	-4.07	-10.69	-12.64	-9.32	-8.31
Interest & Investment Income	45.89	43.25	24.35	4.44	5.38
EBT Excluding Unusual Items	-268.09	-189.73	-434.53	-545.92	-471.1
Gain (Loss) on Sale of Investments	-	-	-	-0.91	-
Pretax Income	-268.09	-189.73	-434.53	-546.82	-471.1
Income Tax Expense	-59.93	0.7	0.27	0.98	0.62
Net Income	-208.16	-190.43	-434.8	-547.8	-471.72
Net Income to Common	-208.16	-190.43	-434.8	-547.8	-471.72
Shares Outstanding (Basic)	137	125	115	98	91
Shares Outstanding (Diluted)	137	125	115	98	91
Shares Change (YoY)	9.62%	8.45%	16.86%	8.67%	11.79%
EPS (Basic)	-1.52	-1.53	-3.78	-5.57	-5.21
EPS (Diluted)	-1.52	-1.53	-3.78	-5.57	-5.21
Free Cash Flow	109.11	69.24	-286.15	-479.2	-384.82
Free Cash Flow Per Share	0.80	0.56	-2.49	-4.87	-4.25
Gross Margin	64.75%	60.30%	45.52%	44.37%	49.09%
Operating Margin	-13.44%	-13.10%	-41.22%	-65.96%	-74.85%
Profit Margin	-9.03%	-11.22%	-40.16%	-66.79%	-75.42%
Free Cash Flow Margin	4.73%	4.08%	-26.43%	-58.42%	-61.52%
EBITDA	-271.43	-194.83	-424.55	-524.54	-458.02
EBITDA Margin	-11.77%	-11.48%	-39.22%	-63.95%	-73.23%
D&A For EBITDA	38.48	27.47	21.7	16.5	10.15
EBIT	-309.91	-222.29	-446.25	-541.04	-468.17
EBIT Margin	-13.44%	-13.10%	-41.22%	-65.96%	-74.85%
Revenue as Reported	2,306	1,697	1,083	820.22	625.49
Advertising Expenses	10.6	2.3	1.1	1.8	2.2

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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