Friday 6 November 2026 Export NTRA’s income statement to Excel — free account

Natera, Inc.

Natera, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 35.9% from fiscal 2024.

Revenue: +34.1%
EPS: +34.4%
Free cash flow: −85.8%
Total debt: −0.06%

Quarter to September 2026, against a year earlier

318.96 44.80 −12.32%

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Market cap: $52.4B
P/E: 0.0×
Fwd P/E: −289×
Dividend yield: —
F-score: 6/9
Altman Z: 26.84
Beneish M: −2.17
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Natera, Inc. (NTRA) revenue by segment, product and region

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Product revenues	2,296 99.55%	1,685 99.30%	1,069 98.70%	797 97.21%	580 92.74%	378 96.64%	270 89.27%	240 93.29%	204 97.21%	209 98.54%
Upfront License And Constellation And Paternity Services	—	—	—	—	—	—	—	—	4 2.02%	—
Other Licensing And Other	—	—	—	—	—	—	—	—	2 0.77%	—
Also reported: a second breakdown of the same revenue
Panorama Nipt	—	—	—	—	—	—	—	—	—	141 66.15%
Hcs	—	—	—	—	—	—	—	—	—	56 26.55%
Other Genetic Tests	—	—	—	—	—	—	—	—	—	12 5.84%
Constellation	—	—	—	—	—	—	—	—	—	3 1.46%
Licensing and other revenues	—	—	—	—	—	—	—	—	6	—
Revenue	2,306	1,697	1,083	820	625	391	302	258	210	213

Gross profit by product or service $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Product revenues	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Shipping and handling costs	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Licensing and other revenues	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022
Single reportable segment	2,306 100.00%	1,697 100.00%	1,083 100.00%	820 100.00%
Revenue	2,306	1,697	1,083	820

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013
United States	2,264 98.19%	1,658 97.69%	1,048 96.77%	786 95.81%	591 94.47%	366 93.52%	261 86.28%	226 87.69%	186 88.51%	188 88.70%	165 86.65%	136 85.68%	48 87.48%
Europe, Middle East, India, and Africa	24 1.06%	24 1.41%	23 2.11%	17 2.03%	20 3.27%	14 3.67%	15 5.11%	21 8.10%	14 6.68%	14 6.71%	15 8.11%	13 8.22%	4 7.75%
Americas, excluding U.S.	9 0.41%	7 0.39%	5 0.45%	4 0.45%	4 0.65%	3 0.89%	3 1.06%	3 1.35%	3 1.44%	3 1.21%	5 2.39%	5 3.07%	1 2.54%
Asia Pacific and Other	8 0.35%	9 0.51%	7 0.67%	14 1.71%	10 1.62%	8 1.93%	23 7.55%	7 2.87%	7 3.37%	7 3.39%	—	—	—
NOT USED (Deprecated 2016-08-31)	—	—	—	—	—	—	—	—	—	—	5 2.84%	5 3.03%	1 2.23%
Revenue	2,306	1,697	1,083	820	625	391	302	258	210	213	190	159	55

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Oncology tests processed	Q3 FY2026	339.5K	—	—
Tests accessioned	Q3 FY2026	1.1M	879.7K	+22.80%
Tests processed	Q3 FY2026	1.1M	893.6K	+22.33%
Tests reported	Q3 FY2026	1.0M	832.9K	+23.04%
Tests reported in our laboratory	Q3 FY2026	1.0M	819.9K	+23.44%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024
Oncology tests processed	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Tests accessioned	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Tests processed	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Tests reported	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Tests reported in our laboratory	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.