Natera, Inc. (NTRA) Financial Statements
Industry: Medical Laboratories (Services)
In fiscal 2025, Natera reported revenue of $2.31B, up 35.9% from $1.70B the year before. Net income was -$208.2M (a -9.0% net margin), or -$1.52 per diluted share. Gross margin was -13.4% and operating margin was -13.4%. Operating activities generated $215.3M of cash, leaving $109.1M of free cash flow. At fiscal year end, Natera held $2.40B in total assets against $685.9M in total liabilities.
Open the full interactive Natera financials → Quarterly statements, key ratios, valuation history and price charts.
Natera Key Stats
| Share Price | $395.65 |
|---|---|
| Market Cap | $56.69B |
| Revenue YoY Growth | +35.9% |
| 52-Week Range | $172.81 – $425.64 |
| Shares Outstanding | 143.3 million (basic, 2026 Q2) |
Natera Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $391.0M | $625.5M | $820.2M | $1.08B | $1.70B | $2.31B |
| Cost of Goods Sold | $607.3M | $1.09B | $1.36B | $1.53B | $1.92B | $2.62B |
| Gross Profit | -$216.3M | -$468.2M | -$541.0M | -$446.2M | -$222.3M | -$309.9M |
| Operating Income | -$216.3M | -$468.2M | -$541.0M | -$446.2M | -$222.3M | -$309.9M |
| Pre-Tax Income | -$229.6M | -$471.1M | -$546.8M | -$434.5M | -$189.7M | -$268.1M |
| Income Tax | $98,000 | $618,000 | $978,000 | $271,000 | $695,000 | -$59.9M |
| Net Income | -$229.7M | -$471.7M | -$547.8M | -$434.8M | -$190.4M | -$208.2M |
| Diluted EPS | -$2.84 | -$5.21 | -$5.57 | -$3.78 | -$1.53 | -$1.52 |
Natera Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $592.2M | $665.5M | $696.6M | $752.8M |
| Net Income | -$87.5M | $47.3M | -$85.1M | -$67.0M |
| Diluted EPS | -$0.64 | $0.35 | -$0.60 | -$0.47 |
Natera Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $48.7M | $84.4M | $466.0M | — | — | — |
| Current Assets | $862.7M | $1.09B | $1.21B | $1.26B | $1.38B | $1.50B |
| Total Assets | $932.2M | $1.24B | $1.39B | $1.44B | $1.66B | $2.40B |
| Current Liabilities | $199.1M | $219.0M | $310.5M | $307.3M | $344.0M | $441.2M |
| Total Long-Term Debt | $202.5M | $280.4M | $281.7M | $282.9M | — | — |
| Total Liabilities | $445.9M | $583.2M | $688.7M | $676.4M | $465.3M | $685.9M |
| Shareholders' Equity | $486.2M | $653.3M | $705.7M | $765.3M | $1.20B | $1.71B |
Natera Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$182.5M | -$335.2M | -$431.5M | -$247.0M | $135.7M | $215.3M |
| Cash From Investing | -$331.5M | -$205.2M | $330.3M | $168.5M | $137.6M | -$132.2M |
| Cash From Financing | $500.8M | $576.2M | $482.6M | $254.5M | $30.2M | $47.5M |
| Free Cash Flow | -$202.1M | -$376.3M | -$479.2M | -$286.2M | $69.2M | $109.1M |
Figures from Natera's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Natera financials page for every line item.
Natera Company Profile
| Ticker | NTRA |
|---|---|
| Exchange | Nasdaq |
| Industry | Medical Laboratories (Services) |
| Headquarters | Austin, Texas |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001604821 |
Frequently Asked Questions
What was Natera's revenue in fiscal 2025?
Natera (NTRA) reported revenue of $2.31B for fiscal 2025.
What is Natera's annual revenue history?
Natera's annual revenue by fiscal year: 2020: $391.0M; 2021: $625.5M; 2022: $820.2M; 2023: $1.08B; 2024: $1.70B; 2025: $2.31B.
What was Natera's net income in fiscal 2025?
Natera reported net income of -$208.2M for fiscal 2025.
What was Natera's earnings per share (EPS) in fiscal 2025?
Natera's diluted EPS was -$1.52 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Natera generate in fiscal 2025?
Natera generated $109.1M of free cash flow in fiscal 2025.
What was Natera's revenue last quarter?
In its most recent reported quarter (2026 Q2), Natera reported revenue of $752.8M.
How many shares of Natera are outstanding?
Natera reported a weighted average of 143.3 million basic shares outstanding in 2026 Q2.
What is Natera's market cap?
Based on its latest closing price, Natera (NTRA) has a market capitalization of about $56.69B.
When does Natera's fiscal year end?
Natera's fiscal year end, as registered with the SEC, is December 31.
Where is Natera headquartered?
Natera lists its business address in Austin, Texas in its SEC filings.