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Financials · NTRA

Natera Inc. (NTRA) financials

For the twelve months ended Sep 30, 2026, Natera Inc. reported $2.91B of revenue and -$164.71M of net income.

Revenue, TTM
$2.91B
Revenue growth, YoY
+37.4%
Net income, TTM
-$164.71M
Net margin
-5.7%
Free cash flow, TTM
$52.47M
EPS, diluted, TTM
-$1.13
Cash
$1.10B
P/S
15.39
Market cap
$44.78B
Annual revenue$2.31B
FY2016FY2025
Annual net income-$208.16M
FY2016FY2025
Annual free cash flow$109.11M
FY2016FY2025

NTRA revenue and earnings growth

NTRA revenueQ3 2026$793.98M

Quarter YoY
+34.1%
QoQ
+5.5%
FY YoY
+35.9%
5Y CAGR
+42.6%
10Y CAGR
+28.3%

NTRA revenue was $793.98M in fiscal Q3 2026 (ended Sep 30, 2026), up 34.1% from a year earlier and up 5.5% from the prior quarter. For the full fiscal 2025 it was $2.31B, up 35.9% from fiscal 2024. Compound annual growth was +42.6% over 5 years and +28.3% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 13 fiscal years on file.

NTRA net incomeQ3 2026-$59.91M

NTRA net income was -$59.91M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$87.54M a year earlier. For the full fiscal 2025 it was -$208.16M, compared with -$190.43M in fiscal 2024.

NTRA EPSQ3 2026-$0.42

NTRA diluted EPS was -$0.42 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.64 a year earlier. For the full fiscal 2025 it was -$1.52, compared with -$1.53 in fiscal 2024.

NTRA free cash flowQ3 2026$5.25M

Quarter YoY
-85.8%
FY YoY
+57.6%

NTRA free cash flow was $5.25M in fiscal Q3 2026 (ended Sep 30, 2026), down 85.8% from a year earlier. For the full fiscal 2025 it was $109.11M, up 57.6% from fiscal 2024. Fiscal 2025 is the highest of the 13 fiscal years on file.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$2.31B$1.70B$1.08B$820.22M$625.49M$391.00M$302.33M$257.65M$209.63M$212.51M
Cost of revenue-------$158.08M$135.51M$134.49M
Gross profit-------$99.57M$74.12M$78.02M
Research and development$624.11M$404.14M$320.68M$316.42M$264.21M$100.03M$51.36M$51.35M$50.06M$41.86M
Selling, general and admin$1.18B$841.31M$618.31M$588.59M$511.03M$303.63M$206.18M$154.87M$155.31M$136.13M
Operating income-$309.91M-$222.29M-$446.25M-$541.04M-$468.17M-$216.28M-$116.29M-$114.63M-$135.34M-$101.05M
Interest expense$4.07M$10.69M$12.64M$9.32M$8.30M$15.08M$10.69M$10.48M$4.21M$533.0K
Pre-tax income-$268.09M-$189.73M-$434.53M-$546.82M-$471.10M-$229.65M-$122.83M-$127.83M-$137.17M-$100.19M
Income tax-$59.93M$695.0K$271.0K$978.0K$618.0K$98.0K$2.00M$321.0K$454.0K$142.0K
Net income-$208.16M-$190.43M-$434.80M-$547.80M-$471.72M-$229.74M-$124.83M-$128.15M-$137.63M-$100.33M
EPS, basic-$1.52-$1.53-$3.78-$5.57-$5.21-$2.84-$1.79-$2.22-$2.58-$1.95
EPS, diluted-$1.52-$1.53-$3.78-$5.57-$5.21-$2.84-$1.79-$2.22-$2.59-$1.95
Diluted shares136.7M124.7M115.0M98.4M90.6M81.0M69.6M57.8M53.6M51.6M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$1.08B$945.59M$642.10M$466.09M$84.61M$48.85M$61.98M$51.00M$13.02M$16.69M
Short-term investments-$22.69M$236.88M$432.30M$829.90M$688.61M$379.06M$107.46M--
Receivables$296.53M$314.17M$278.29M$244.38M$122.07M$78.56M$53.35M$62.22M$44.09M$13.40M
Inventory$68.44M$44.74M$40.76M$35.41M$26.91M$20.03M$12.39M$13.63M$9.00M$6.41M
Current assets$1.50B$1.38B$1.26B$1.21B$1.09B$862.66M$523.17M$240.52M$180.63M$174.12M
Goodwill$141.07M---------
Total assets$2.40B$1.66B$1.44B$1.39B$1.24B$932.15M$582.66M$268.17M$214.61M$210.68M
Current liabilities$441.23M$344.05M$307.27M$310.50M$218.96M$199.05M$179.87M$113.98M$105.56M$96.42M
Short-term debt$80.32M$80.36M$80.40M$80.35M$50.05M$50.05M$50.12M$50.15M$50.11M$49.62M
Total debt--$282.94M$281.65M$280.39M-----
Total liabilities$685.93M$465.31M$676.37M$688.73M$583.18M$445.92M$303.94M$236.01M$189.20M$104.20M
Shareholders' equity$1.71B$1.20B$765.33M$705.74M$653.30M$486.24M$278.71M$32.16M$25.42M$143.58M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$215.30M$135.66M-$246.96M-$431.50M-$335.24M-$182.51M-$63.44M-$70.58M-$97.83M-$74.05M
Capital expenditures$106.19M$66.42M$39.20M$47.70M$41.03M$19.60M$4.97M$3.88M$9.87M$23.14M
Free cash flow$109.11M$69.24M-$286.15M-$479.20M-$376.27M-$202.12M-$68.41M-$74.46M-$107.69M-$97.19M
Investing cash flow-$132.21M$137.62M$168.50M$330.34M-$205.19M-$331.46M-$266.35M-$5.16M$13.78M$47.03M
Financing cash flow$47.46M$30.20M$254.46M$482.64M$576.19M$500.85M$340.77M$113.72M$80.37M$13.18M
Stock-based compensation$354.40M$274.43M$191.81M$152.38M$115.22M$50.17M$28.62M$14.20M$11.40M$10.60M
Depreciation and amortization$41.76M$30.97M$24.10M$16.70M$11.25M$8.61M$7.73M$7.50M$7.14M$6.18M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY35.9%56.7%32.0%31.1%60.0%29.3%17.3%22.9%-1.4%11.6%
Gross margin-------38.6%35.4%36.7%
Operating margin-13.4%-13.1%-41.2%-66.0%-74.8%-55.3%-38.5%-44.5%-64.6%-47.6%
Net margin-9.0%-11.2%-40.2%-66.8%-75.4%-58.8%-41.3%-49.7%-65.7%-47.2%
Free cash flow margin4.7%4.1%-26.4%-58.4%-60.2%-51.7%-22.6%-28.9%-51.4%-45.7%
Return on equity-12.2%-15.9%-56.8%-77.6%-72.2%-47.2%-44.8%-398.5%-541.5%-69.9%
Return on assets-8.7%-11.5%-30.2%-39.3%-38.1%-24.6%-21.4%-47.8%-64.1%-47.6%
Current ratio3.394.004.103.904.994.332.912.111.711.81
Debt to equity--0.370.400.43-----

Source: XBRL data Natera Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

NTRA peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
NTRA$2.91B+37.4%-$164.71M-5.7%$44.78B
UNH$449.66B+3.3%$15.88B3.5%$353.17B
ELV$201.83B+3.6%$5.13B2.5%$91.96B
CI$286.32B+6.8%$5.99B2.1%$77.58B
HUM$137.20B+14.1%$1.13B0.8%$52.08B
CNC$203.90B+9.7%$1.46B0.7%$34.53B
ILMN$4.54B+5.8%$895.00M19.7%$32.22B
LH$14.59B+6.0%$1.00B6.9%$29.77B
DGX$11.84B+9.1%$1.13B9.5%$28.12B

NTRA FAQ

8 questions
  • What is NTRA revenue?
    Natera Inc. (NTRA) reported $2.91B of revenue for the twelve months ended Sep 30, 2026. That is up 37.4% from the year before. Revenue for fiscal 2025 was $2.31B.
  • Is NTRA profitable?
    No. Natera Inc. reported a net loss of $164.71M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does NTRA have?
    Natera Inc. reported $1.10B in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is NTRA revenue growing?
    Natera Inc.'s revenue changed +35.9% in fiscal 2025, to $2.31B. Its compound annual growth rate was +42.6% over 5 years and +28.3% over 10 years.
  • What is NTRA free cash flow?
    Natera Inc. generated $52.47M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $212.78M less capital expenditures.
  • What is NTRA earnings per share?
    Diluted earnings per share were -$1.13 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did NTRA last report financial results?
    The latest statements here come from Natera Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this NTRA financial data come from?
    Quantisnow builds these statements from the structured XBRL data Natera Inc. files with the SEC. It is provided for information only and is not investment advice.