Natera, Inc. (NTRA)

NASDAQ: NTRA · Real-Time Price · USD

397.77

-2.94 (-0.73%)

At close: Oct 12, 2026, 4:00 PM EDT

399.98

+2.21 (0.56%)

Pre-market: Oct 13, 2026, 7:09 AM EDT

Natera Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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	2,707	2,306	1,697	1,083	820.22	625.49
Revenue Growth	37.82%	35.90%	56.75%	31.99%	31.13%	59.97%
Gross Profit	1,766	1,493	1,023	492.74	363.97	307.07
Operating Income	-285.22	-309.91	-222.29	-446.25	-541.04	-468.17
Net Income	-192.35	-208.16	-190.43	-434.8	-547.8	-471.72
Earnings Per Share	-1.37	-1.52	-1.53	-3.78	-5.57	-5.21
EPS Growth	-	-	-	-	-	-

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Insurance Carriers	2,545	2,171	1,572	954.16	690.75	492.56
Laboratory Partners	126.67	103.11	97.21	98.89	94.91	100.02
Patients	35.68	31.82	27.88	29.53	34.56	32.9
Revenue (Total)	2,707	2,306	1,697	1,083	820.22	625.49

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Cash & Investments	1,092	1,076	968.28	878.98	898.39	914.28
Total Debt	238.49	214.38	187.12	441.99	446.22	397.23
Net Cash (Debt)	853.01	861.76	781.16	436.98	452.17	517.05
Net Cash Growth	4.04%	10.32%	78.76%	-3.36%	-12.55%	13.34%
Net Cash Per Share	6.09	6.30	6.26	3.80	4.59	5.71

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Operating Cash Flow	228.24	215.3	135.66	-246.96	-431.5	-335.24
Capital Expenditures	-144.04	-106.19	-66.42	-39.2	-47.7	-49.59
Free Cash Flow	84.2	109.11	69.24	-286.15	-479.2	-384.82
Free Cash Flow Growth	-19.47%	57.58%	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Gross Margin	65.23%	64.75%	60.30%	45.52%	44.37%	49.09%
Operating Margin	-10.54%	-13.44%	-13.10%	-41.22%	-65.96%	-74.85%
Pretax Margin	-9.33%	-11.63%	-11.18%	-40.14%	-66.67%	-75.32%
Profit Margin	-7.11%	-9.03%	-11.22%	-40.16%	-66.79%	-75.42%
FCF Margin	3.11%	4.73%	4.08%	-26.43%	-58.42%	-61.52%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 13, 2026	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
P/FCF Ratio	680.98	290.41	301.83	-	-	-
PS Ratio	21.18	13.74	12.32	6.95	5.34	14.12