NATERA, INC. financials
Source: EDGAR filings · Built 2026-06-02T03:41:32Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 109.11M | 69.24M | -286.15M | -479.20M | -376.27M | -202.12M |
| EBITDA | -268.15M | -191.33M | -422.15M | -524.34M | -456.92M | -207.66M |
| Working Capital | 1.06B | 1.03B | 951.27M | 901.32M | 874.18M | 663.61M |
| Net Debt | -861.76M | -758.47M | -200.10M | -19.79M | 312.85M | 232.43M |
| Operating Margin | -13.44% | -13.10% | -41.22% | -65.96% | -74.85% | -55.31% |
| Net Margin | -9.03% | -11.22% | -40.16% | -66.79% | -75.42% | -58.76% |
| Return on Equity (ROE) | -12.16% | -15.93% | -56.81% | -77.62% | -72.20% | -47.25% |
| Return on Assets (ROA) | -8.68% | -11.47% | -30.16% | -39.28% | -38.15% | -24.65% |
| Current Ratio | 3.39× | 4.00× | 4.10× | 3.90× | 4.99× | 4.33× |
| Debt-to-Equity | 0.13× | 0.16× | 0.58× | 0.63× | 0.61× | 0.58× |
| Effective Tax Rate | 22.35% | -0.37% | -0.06% | -0.18% | -0.13% | -0.04% |
| Cash Conversion Ratio | -1.03× | -0.71× | 0.57× | 0.79× | 0.71× | 0.79× |
| Accruals Ratio | -0.18× | -0.20× | -0.13× | -0.08× | -0.11× | -0.05× |
| SBC % of Revenue | 15.37% | 16.17% | 17.72% | 18.58% | 18.42% | 12.83% |
| CapEx Coverage | 2.03× | 2.04× | -6.30× | -9.05× | -8.17× | -9.31× |
| Free Cash Flow Per Share | $0.80 | $0.56 | $-2.49 | $-4.87 | $-4.16 | $-2.49 |
Valuation Metrics
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 2.31B | 1.70B | 1.08B | 820.22M | 625.49M | 391.00M |
| Research and Development Expense | 624.11M | 404.14M | 320.68M | 316.42M | 264.21M | 100.03M |
| Selling, General and Administrative Expense | 1.18B | 841.31M | 618.31M | 588.59M | 511.03M | 303.63M |
| Operating Income (Loss) | -309.91M | -222.29M | -446.25M | -541.04M | -468.17M | -216.28M |
| Income Tax Expense (Benefit) | -59.93M | 695.00K | 271.00K | 978.00K | 618.00K | 98.00K |
| Net Income (Loss) Attributable to Parent | -208.16M | -190.43M | -434.80M | -547.80M | -471.72M | -229.74M |
| Earnings Per Share, Basic | $-1.52 | $-1.53 | $-3.78 | $-5.57 | $-5.21 | $-2.84 |
| Weighted Average Number of Shares Outstanding, Basic | 136.72M | 124.72M | 115.00M | 98.41M | 90.56M | 81.01M |
| Earnings Per Share, Diluted | $-1.52 | $-1.53 | $-3.78 | $-5.57 | $-5.21 | $-2.84 |
| Weighted Average Number of Shares Outstanding, Diluted | 136.72M | 124.72M | 115.00M | 98.41M | 90.56M | 81.01M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | — | — | — | 466.00M | 84.39M | 48.67M |
| Assets, Current | 1.50B | 1.38B | 1.26B | 1.21B | 1.09B | 862.66M |
| Assets | 2.40B | 1.66B | 1.44B | 1.39B | 1.24B | 932.15M |
| Long-term Debt | — | — | 282.94M | 281.65M | 280.39M | — |
| Liabilities, Current | 441.23M | 344.05M | 307.27M | 310.50M | 218.96M | 199.05M |
| Liabilities | 685.93M | 465.31M | 676.37M | 688.73M | 583.18M | 445.92M |
| Stockholders' Equity Attributable to Parent | 1.71B | 1.20B | 765.33M | 705.74M | 653.30M | 486.24M |
| Common Stock, Shares, Outstanding | 139.69M | 132.65M | 119.58M | 111.25M | 95.14M | 86.22M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 215.30M | 135.66M | -246.96M | -431.50M | -335.24M | -182.51M |
| Payments to Acquire Property, Plant, and Equipment | 106.19M | 66.42M | 39.20M | 47.70M | 41.03M | 19.60M |
| Net Cash Provided by (Used in) Investing Activities | -132.21M | 137.62M | 168.50M | 330.34M | -205.19M | -331.46M |
| Net Cash Provided by (Used in) Financing Activities | 47.46M | 30.20M | 254.46M | 482.64M | 576.19M | 500.85M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 18.03M | 37.82M | 71.30M | 34.31M | 22.64M | 34.77M |
| EBITDA | -79.00M | -10.41M | — | — | -69.94M | -56.95M |
| Working Capital | 1.09B | 1.06B | 1.01B | 1.05B | 1.05B | 1.03B |
| Net Debt | -847.85M | -861.76M | -842.71M | -803.89M | -778.17M | -758.47M |
| Operating Margin | -13.42% | -3.42% | -16.48% | -20.19% | -15.78% | -13.60% |
| Net Margin | -12.21% | 7.10% | -14.78% | -18.47% | -13.34% | -11.29% |
| Return on Equity (ROE) | -4.80% | 2.76% | -6.99% | -8.10% | -5.40% | -4.50% |
| Return on Assets (ROA) | -3.25% | 1.97% | -4.81% | -5.74% | -3.86% | -3.24% |
| Current Ratio | 2.96× | 3.39× | 3.27× | 3.72× | 3.87× | 4.00× |
| Debt-to-Equity | 0.14× | 0.13× | 0.16× | 0.16× | 0.16× | 0.16× |
| Effective Tax Rate | -0.33% | 454.63% | -0.24% | -0.27% | -0.26% | 2.46% |
| Cash Conversion Ratio | -0.47× | 1.56× | -1.62× | -0.81× | -0.66× | -0.98× |
| Accruals Ratio | -0.05× | -0.01× | -0.13× | -0.10× | -0.06× | -0.06× |
| SBC % of Revenue | 13.65% | 13.91% | 44.21% | 31.32% | 15.51% | 15.11% |
| CapEx Coverage | 1.81× | 2.05× | 2.02× | 1.72× | 2.04× | 2.92× |
| Free Cash Flow Per Share | $0.13 | $0.28 | $0.52 | $0.25 | $0.17 | $0.28 |
Valuation Metrics
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 696.64M | 665.50M | 592.18M | 546.60M | 501.83M | 476.06M |
| Research and Development Expense | 210.70M | 175.19M | 173.41M | 146.43M | 129.08M | 129.46M |
| Selling, General and Administrative Expense | 327.94M | 291.30M | 308.55M | 310.55M | 266.86M | 234.92M |
| Operating Income (Loss) | -93.52M | -22.79M | -97.58M | -110.37M | -79.18M | -64.74M |
| Income Tax Expense (Benefit) | 283.00K | -60.58M | 207.00K | 275.00K | 173.00K | -1.35M |
| Net Income (Loss) Attributable to Parent | -85.09M | 47.26M | -87.54M | -100.94M | -66.94M | -53.77M |
| Earnings Per Share, Basic | $-0.60 | $0.36 | $-0.64 | $-0.74 | $-0.50 | $-0.41 |
| Weighted Average Number of Shares Outstanding, Basic | 141.50M | 136.72M | 137.19M | 136.39M | 134.75M | 124.72M |
| Earnings Per Share, Diluted | $-0.60 | $0.36 | $-0.64 | $-0.74 | $-0.50 | $-0.41 |
| Weighted Average Number of Shares Outstanding, Diluted | 141.50M | 136.72M | 137.19M | 136.39M | 134.75M | 124.72M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Assets, Current | 1.65B | 1.50B | 1.45B | 1.43B | 1.42B | 1.38B |
| Assets | 2.61B | 2.40B | 1.82B | 1.76B | 1.73B | 1.66B |
| Liabilities, Current | 558.26M | 441.23M | 442.02M | 384.84M | 365.68M | 344.05M |
| Liabilities | 840.38M | 685.93M | 569.29M | 510.88M | 492.69M | 465.31M |
| Stockholders' Equity Attributable to Parent | 1.77B | 1.71B | 1.25B | 1.25B | 1.24B | 1.20B |
| Common Stock, Shares, Outstanding | 142.73M | 139.69M | 137.53M | 136.76M | 135.93M | 132.65M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 40.17M | 73.89M | 141.41M | 82.03M | 44.45M | 52.89M |
| Payments to Acquire Property, Plant, and Equipment | 22.14M | 36.07M | 70.12M | 47.71M | 21.82M | 18.12M |
| Net Cash Provided by (Used in) Investing Activities | -32.14M | -71.59M | -60.62M | -40.71M | -16.82M | -11.12M |
| Net Cash Provided by (Used in) Financing Activities | 3.76M | 32.41M | 15.05M | 13.12M | 544.00K | 10.97M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (NTRA CIK 0001604821),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.