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NASDAQ · SERVICES-MEDICAL LABORATORIES · LARGE CAP

Natera, Inc. NTRA

13 fiscal years on record · USD · FY2025 reported · SEC filings only
$2.3B
▲ 35.9% YoY
$-208.2M
$109.1M
▲ 57.6% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Natera commercializes personalized blood-based DNA tests used in oncology for therapy decisions from diagnosis through survivorship, develops and commercializes non- or minimally invasive tests for women's health needs such as prenatal testing and hereditary cancer screening, and offers tests to assess kidney, heart, and lung transplant rejection as well as genetic testing for chronic kidney disease. It is headquartered in Austin, Texas, with laboratory facilities located in Austin, Texas, San Carlos, California, and Boulder, Colorado. Its revenues were $2,306.1 million in 2025, compared with $1,696.9 million in 2024 and $1,082.6 million in 2023. It processed approximately 3.5 million tests in 2025, compared with approximately 3.1 million tests in 2024 and 2.5 million tests in 2023. In addition to its direct sales force in the United States, it has a global network of over 100 laboratory and distribution partners. As of December 31, 2025, its global workforce comprised 6,140 employees, of whom 6,135 were full-time employees. Its Signatera circulating tumor DNA (ctDNA) test is custom designed for, informed by, and specific to the tumor DNA of each patient. It launched Panorama, its non-invasive prenatal test (NIPT), in 2013; Panorama helps physicians assess the risk of fetal genetic abnormalities by non-invasively screening for fetal chromosomal abnormalities, including Down syndrome, Edwards syndrome, Patau syndrome, Turner syndrome, and triploidy.

Written from the business description in Natera, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth

USD 2.3B
Revenue, FY2025 · full 13-year series below
Revenue $B Net income $B
FY2025 · Revenue 2.3 · Net income -0.2
1.0B2.0B-0.2B-0.4B
20132016201920222025
Compound annual growth
+41.1%
+42.6%
+28.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +42.6% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−9 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -13.4% · Net -9.0%
-20%-40%-60%
201320192025
ROE
FY2025 · ROE -14.3%
-200%-400%
201320192025
Three returns, three denominators.

Each USD of equity lost 14 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 109.1
50M100M-200M-400M
201320192025

Total assetsUSD 2.4B
EquityUSD 1.7B
CashUSD 1.1B
Gross debtUSD 80.3M
Net debtUSD -995.8M
Current ratio3.39×

The company holds more cash than debt.

The 13-year record

13 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
NTRA, 13-year financial record
Metric 2025202420232022202120202019201820172016201520142013
Revenue $B2.31.71.10.80.60.40.30.30.20.20.20.20.1
Operating income $B−0.3−0.2−0.4−0.5−0.5−0.2−0.1−0.1−0.1−0.1−0.10.0−0.0
EBITDA $B−0.3−0.2−0.4−0.5−0.5−0.2−0.1−0.1−0.1−0.1−0.10.0−0.0
Income tax $B−0.10.00.00.00.00.00.00.00.00.0◌0.0◌
Net income $B−0.2−0.2−0.4−0.5−0.5−0.2−0.1−0.1−0.1−0.1−0.1−0.0−0.0
Free cash flow $B0.10.1−0.3−0.5−0.4−0.2−0.1−0.1−0.1−0.1−0.00.0−0.0
EPS, diluted $−1.52−1.53−3.78−5.57−5.21−2.84−1.79−2.22−2.59−1.95−2.68−1.07−9.66
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend—————————————
ROE %−14.3−19.4−59.1−80.6−82.8−60.1−80.3−445.1−162.9−54.2———
Shares out B0.140.130.120.110.100.090.080.060.050.050.050.01◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures in 50 reconciliationsAUDITED

Reconciled in 13 of the 13 fiscal years we could check. 14 checks were skipped: the balance sheet is not tagged before 2014. Six checks were skipped: EPS is not tagged before 2013. Six checks were skipped: revenue is not tagged before 2013.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityServices-Medical Laboratories
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2013

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