The Filings Report

Natera

NTRANasdaqCIK 1604821Healthcare / Healthcare Providers & Servicesfiscal year ends December50 quarters since 2014

Revenue, Q2 FY2026
$753M
+37.7% on Q2 FY2025
Net income
−$67M
+33.7% on Q2 FY2025
Free cash flow
−$9M
−174.0% on Q2 FY2025
Diluted EPS
$-0.47
+36.5% on Q2 FY2025
Revenue, TTM
$2.7B
trailing four quarters
Net margin, TTM
-7.1%
net income −$192M
Free cash flow, TTM
$84M
$228M less $144M capex
Cash and equivalents
—
long-term debt —, Jun 30, 2026
Shares, 12-month change
+5.0%
144M shares, Jun 30, 2026
Buybacks, TTM
—
no yield
Dividends, TTM
—
no yield
Market value
$59.7B
at the close, buybacks

Latest quarter Q2 FY2026, filed August 7, 2026. Trailing figures sum the latest four quarters. Market values at the latest close, from a market data vendor.

In Q2 FY2026, the quarter ended June 30, 2026, Natera reported revenue of $753M, +37.7% on Q2 FY2025, and net loss of $67M (+33.7%). Operating margin was −10.1%. Free cash flow, operating cash flow less capital expenditures, was −$9M ($55M less $63M). Diluted earnings per share were $-0.47.

The last 16 quarters

Q3 FY2022 to Q2 FY2026, through the filing of August 7, 2026.

Revenue and net incomeRevenueNet income
−$250M$0$250M$500M$750M$1.0BQ3'22, Revenue: $211MQ3'22, Net income: −$121MQ3'22Q4'22, Revenue: $217MQ4'22, Net income: −$143MQ4'22Q1'23, Revenue: $242MQ1'23, Net income: −$137MQ1'23Q2'23, Revenue: $261MQ2'23, Net income: −$111MQ2'23Q3'23, Revenue: $268MQ3'23, Net income: −$109MQ3'23Q4'23, Revenue: $311MQ4'23, Net income: −$78MQ4'23Q1'24, Revenue: $368MQ1'24, Net income: −$68MQ1'24Q2'24, Revenue: $413MQ2'24, Net income: −$37MQ2'24Q3'24, Revenue: $440MQ3'24, Net income: −$32MQ3'24Q4'24, Revenue: $476MQ4'24, Net income: −$54MQ4'24Q1'25, Revenue: $502MQ1'25, Net income: −$67MQ1'25Q2'25, Revenue: $547MQ2'25, Net income: −$101MQ2'25Q3'25, Revenue: $592MQ3'25, Net income: −$88MQ3'25Q4'25, Revenue: $665MQ4'25, Net income: $47MQ4'25Q1'26, Revenue: $697MQ1'26, Net income: −$85MQ1'26Q2'26, Revenue: $753MQ2'26, Net income: −$67MQ2'26−$250M$0$250M$500M$750M$1.0BQ3'22, Revenue: $211MQ3'22, Net income: −$121MQ4'22, Revenue: $217MQ4'22, Net income: −$143MQ4'22Q1'23, Revenue: $242MQ1'23, Net income: −$137MQ2'23, Revenue: $261MQ2'23, Net income: −$111MQ2'23Q3'23, Revenue: $268MQ3'23, Net income: −$109MQ4'23, Revenue: $311MQ4'23, Net income: −$78MQ4'23Q1'24, Revenue: $368MQ1'24, Net income: −$68MQ2'24, Revenue: $413MQ2'24, Net income: −$37MQ2'24Q3'24, Revenue: $440MQ3'24, Net income: −$32MQ4'24, Revenue: $476MQ4'24, Net income: −$54MQ4'24Q1'25, Revenue: $502MQ1'25, Net income: −$67MQ2'25, Revenue: $547MQ2'25, Net income: −$101MQ2'25Q3'25, Revenue: $592MQ3'25, Net income: −$88MQ4'25, Revenue: $665MQ4'25, Net income: $47MQ4'25Q1'26, Revenue: $697MQ1'26, Net income: −$85MQ2'26, Revenue: $753MQ2'26, Net income: −$67MQ2'26

Net income losses drawn in red.

Free cash flow
−$150M−$100M−$50M$0$50MQ3'22, Free cash flow: −$114MQ3'22Q4'22, Free cash flow: −$93MQ4'22Q1'23, Free cash flow: −$92MQ1'23Q2'23, Free cash flow: −$87MQ2'23Q3'23, Free cash flow: −$39MQ3'23Q4'23, Free cash flow: −$68MQ4'23Q1'24, Free cash flow: $7MQ1'24Q2'24, Free cash flow: −$8MQ2'24Q3'24, Free cash flow: $35MQ3'24Q4'24, Free cash flow: $35MQ4'24Q1'25, Free cash flow: $23MQ1'25Q2'25, Free cash flow: $12MQ2'25Q3'25, Free cash flow: $37MQ3'25Q4'25, Free cash flow: $38MQ4'25Q1'26, Free cash flow: $18MQ1'26Q2'26, Free cash flow: −$9MQ2'26−$150M−$100M−$50M$0$50MQ3'22, Free cash flow: −$114MQ4'22, Free cash flow: −$93MQ4'22Q1'23, Free cash flow: −$92MQ2'23, Free cash flow: −$87MQ2'23Q3'23, Free cash flow: −$39MQ4'23, Free cash flow: −$68MQ4'23Q1'24, Free cash flow: $7MQ2'24, Free cash flow: −$8MQ2'24Q3'24, Free cash flow: $35MQ4'24, Free cash flow: $35MQ4'24Q1'25, Free cash flow: $23MQ2'25, Free cash flow: $12MQ2'25Q3'25, Free cash flow: $37MQ4'25, Free cash flow: $38MQ4'25Q1'26, Free cash flow: $18MQ2'26, Free cash flow: −$9MQ2'26

Operating cash flow less capital expenditures; negative quarters in red.

Cash and equivalents against long-term debtCash and equivalentsLong-term debt
$0$200M$400M$600MQ3'22, Cash and equivalents: $57MQ3'22Q4'22, Cash and equivalents: $466MQ4'22, Long-term debt: $282MQ4'22Q1'23Q2'23Q3'23Q4'23, Long-term debt: $283MQ4'23Q1'24Q2'24Q3'24Q4'24Q1'25Q2'25Q3'25Q4'25Q1'26Q2'26$0$200M$400M$600MQ3'22, Cash and equivalents: $57MQ4'22, Cash and equivalents: $466MQ4'22, Long-term debt: $282MQ4'22Q2'23Q4'23, Long-term debt: $283MQ4'23Q2'24Q4'24Q2'25Q4'25Q2'26

Positions at each quarter end, as filed; short-term investments are not included.

Income statement

Last eight quarters, newest first, through Q2 FY2026 filed August 7, 2026.

Natera income statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 7, 2026Q1 FY2026ended Mar 31, 2026filed May 8, 2026Q4 FY2025ended Dec 31, 2025filed Feb 27, 2026Q3 FY2025ended Sep 30, 2025filed Nov 7, 2025Q2 FY2025ended Jun 30, 2025filed Aug 8, 2025Q1 FY2025ended Mar 31, 2025filed May 9, 2025Q4 FY2024ended Dec 31, 2024filed Feb 28, 2025Q3 FY2024ended Sep 30, 2024filed Nov 12, 2024YoYQ2 FY2026vs Q2 FY2025
Revenue753697665592547502476440+37.7%
Cost of revenue—————————
Gross profit—————————
Research and development22821117517314612912997+55.8%
Selling, general and administrative327328291309311267235214+5.4%
Operating income(76)(94)(23)(98)(110)(79)(65)(39)+31.3%
Other income (expense)910——1113——−12.0%
Pretax income(67)(85)(13)(87)(101)(67)(55)(31)+33.2%
Income tax00(61)000(1)1−194.9%
Net income(67)(85)47(88)(101)(67)(54)(32)+33.7%
Diluted EPS ($)(0.47)(0.60)—(0.64)(0.74)(0.50)—(0.26)+36.5%
Diluted shares (millions)143142—137136135—124—

Fourth quarters are the fiscal year less the first nine months when the filer reports no discrete fourth quarter, and are marked. Diluted EPS is never derived, so a derived quarter shows none. Italic figures are derived.

Balance sheet

Last eight quarters, newest first, through Q2 FY2026 filed August 7, 2026.

Natera balance sheet, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 7, 2026Q1 FY2026ended Mar 31, 2026filed May 8, 2026Q4 FY2025ended Dec 31, 2025filed Feb 27, 2026Q3 FY2025ended Sep 30, 2025filed Nov 7, 2025Q2 FY2025ended Jun 30, 2025filed Aug 8, 2025Q1 FY2025ended Mar 31, 2025filed May 9, 2025Q4 FY2024ended Dec 31, 2024filed Feb 28, 2025Q3 FY2024ended Sep 30, 2024filed Nov 12, 2024YoYQ2 FY2026vs Q2 FY2025
Cash and equivalents—————————
Short-term investments———116182329—
Total current assets1,6591,6521,4971,4471,4321,4161,3761,323+15.9%
Total assets2,6572,6142,3981,8211,7571,7321,6611,591+51.2%
Total current liabilities553558441442385366344301+43.7%
Long-term debt—————————
Total liabilities836840686569511493465712+63.6%
Stockholders’ equity1,8211,7741,7121,2521,2461,2401,195879+46.2%
Shares outstanding (millions)144143142138137137135132—

Positions at each period end. Nothing on this statement is derived. Long-term debt is the filed noncurrent line only; no total-debt composite is constructed across filers. Italic figures are derived.

Cash flow statement

Last eight quarters, newest first, through Q2 FY2026 filed August 7, 2026.

Natera cash flow statement, quarterly
Millions of dollarsQ2 FY2026ended Jun 30, 2026filed Aug 7, 2026Q1 FY2026ended Mar 31, 2026filed May 8, 2026Q4 FY2025ended Dec 31, 2025filed Feb 27, 2026Q3 FY2025ended Sep 30, 2025filed Nov 7, 2025Q2 FY2025ended Jun 30, 2025filed Aug 8, 2025Q1 FY2025ended Mar 31, 2025filed May 9, 2025Q4 FY2024ended Dec 31, 2024filed Feb 28, 2025Q3 FY2024ended Sep 30, 2024filed Nov 12, 2024YoYQ2 FY2026vs Q2 FY2025
Operating cash flow5540745938445352+45.8%
Capital expenditures6322362226221816+144.9%
Free cash flow (CFO − capex)(9)18383712233535−174.0%
Depreciation and amortization1515121010988+57.0%
Share repurchases—————————
Dividends paid—————————

10-Qs file cash flows as year-to-date totals, so quarterly figures are differenced from consecutive filings and marked. Free cash flow is operating cash flow less capital expenditures, computed from the two filed lines. Italic figures are derived.

Annual statements

Every fiscal year filed, newest first, through FY2025 filed February 27, 2026.

Income statement

Natera income statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 27, 2026FY2024ended Dec 31, 2024filed Feb 28, 2025FY2023ended Dec 31, 2023filed Feb 29, 2024FY2022ended Dec 31, 2022filed Mar 1, 2023FY2021ended Dec 31, 2021filed Feb 25, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Mar 2, 2020FY2018ended Dec 31, 2018filed Mar 15, 2019FY2017ended Dec 31, 2017filed Mar 15, 2018FY2016ended Dec 31, 2016filed Mar 16, 2017FY2015ended Dec 31, 2015filed Mar 24, 2016FY2014ended Dec 31, 2014filed Aug 13, 2015FY2013ended Dec 31, 2013filed Aug 13, 2015
Revenue2,3061,6971,08382062539130225821021319015955
Cost of revenue———————158136134———
Gross profit—————————————
Research and development62440432131626410051515042281712
Selling, general and administrative1,1778416185895113042061551551361106332
Operating income(310)(222)(446)(541)(468)(216)(116)(115)(135)(101)(60)1(25)
Other income (expense)——————————(8)(2)0
Pretax income(268)(190)(435)(547)(471)(230)(123)(128)(137)(100)(70)(5)—
Income tax(60)101102000—0—
Net income(208)(190)(435)(548)(472)(230)(125)(128)(138)(100)(70)(5)(37)
Diluted EPS ($)(1.52)(1.53)(3.78)(5.57)(5.21)(2.84)(1.79)(2.22)(2.59)(1.95)(2.68)——
Diluted shares (millions)1371251159891817058545226——

Balance sheet

Natera balance sheet, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 27, 2026FY2024ended Dec 31, 2024filed Feb 28, 2025FY2023ended Dec 31, 2023filed Feb 29, 2024FY2022ended Dec 31, 2022filed Mar 1, 2023FY2021ended Dec 31, 2021filed Feb 25, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Mar 2, 2020FY2018ended Dec 31, 2018filed Mar 15, 2019FY2017ended Dec 31, 2017filed Mar 15, 2018FY2016ended Dec 31, 2016filed Mar 16, 2017FY2015ended Dec 31, 2015filed Mar 24, 2016FY2014ended Dec 31, 2014filed Aug 13, 2015FY2013ended Dec 31, 2013filed Aug 13, 2015
Cash and equivalents———466844962461315298730
Short-term investments—23237432830689379107—————
Total current assets1,4971,3761,2591,2121,093863523241181174251106—
Total assets2,3981,6611,4421,3941,236932583268215211265124—
Total current liabilities441344307310219199180114106968030—
Long-term debt——283282280————————
Total liabilities6864656766895834463042361891048054—
Stockholders’ equity1,7121,1957657066534862793225144226(171)(172)
Shares outstanding (millions)14213512111395877863545351——

Cash flow statement

Natera cash flow statement, annual
Millions of dollarsFY2025ended Dec 31, 2025filed Feb 27, 2026FY2024ended Dec 31, 2024filed Feb 28, 2025FY2023ended Dec 31, 2023filed Feb 29, 2024FY2022ended Dec 31, 2022filed Mar 1, 2023FY2021ended Dec 31, 2021filed Feb 25, 2022FY2020ended Dec 31, 2020filed Feb 26, 2021FY2019ended Dec 31, 2019filed Mar 2, 2020FY2018ended Dec 31, 2018filed Mar 15, 2019FY2017ended Dec 31, 2017filed Mar 15, 2018FY2016ended Dec 31, 2016filed Mar 16, 2017FY2015ended Dec 31, 2015filed Mar 24, 2016FY2014ended Dec 31, 2014filed Aug 13, 2015FY2013ended Dec 31, 2013filed Aug 13, 2015
Operating cash flow215136(247)(432)(335)(183)(63)(71)(98)(74)(38)——
Capital expenditures10666394841205410238108
Free cash flow (CFO − capex)10969(286)(479)(376)(202)(68)(74)(108)(97)(46)——
Depreciation and amortization423124171198876653
Share repurchases—————————————
Dividends paid—————————————

Insider activity

Form 4 filings by officers, directors and 10% owners, November 1, 2024 to November 1, 2026. Only open-market purchases and sales count as buys and sells; awards, exercises, tax withholding and gifts are listed in grey and never counted.

Bought, three months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, three months
$109M
151 sales by 7 insiders; officers and directors $109M
Bought, twelve months
$0
0 purchases by 0 insiders; officers and directors $0
Sold, twelve months
$402M
511 sales by 12 insiders; officers and directors $402M

The last 25 transactions

TradedInsiderRoleTransactionSharesPriceValueHeld afterFiled
Oct 30, 2026Brophy Michael BurkesCHIEF FINANCIAL OFFICERopen-market sale10b5-11,906$425.55$811K46,574Oct 30, 2026
Oct 28, 2026Brophy Michael BurkesCHIEF FINANCIAL OFFICERopen-market sale10b5-1313$425.32$133K49,345Oct 30, 2026
Oct 28, 2026Brophy Michael BurkesCHIEF FINANCIAL OFFICERopen-market sale10b5-1865$426.87$369K48,480Oct 30, 2026
Oct 28, 2026Sheena JonathanDirectoropen-market sale10b5-1187$426.34$80K217,686Oct 29, 2026
Oct 28, 2026Rabinowitz DanielSEC. AND CHIEF LEGAL OFFICERopen-market sale10b5-1968$426.34$413K168,221Oct 29, 2026
Oct 28, 2026Moshkevich SolomonPRESIDENT, CLINICALDIAGNOSTICSopen-market sale10b5-11,162$426.34$495K104,742Oct 29, 2026
Oct 28, 2026Fesko JohnPRESIDENT, CHIEF BUS. OFFICERopen-market sale10b5-1898$426.34$383K195,578Oct 29, 2026
Oct 28, 2026Chapman Steven LeonardCEO AND PRESIDENT, Directoropen-market sale10b5-13,430$426.34$1M91,232Oct 29, 2026
Oct 28, 2026Brophy Michael BurkesCHIEF FINANCIAL OFFICERopen-market sale10b5-11,198$426.34$511K49,658Oct 29, 2026
Oct 27, 2026Sheena JonathanDirectoropen-market sale10b5-1291$406.00$118K217,873Oct 29, 2026
Oct 27, 2026Rabinowitz MatthewEXECUTIVE CHAIRMAN, Directoropen-market sale10b5-11,718$406.00$698K2MOct 29, 2026
Oct 27, 2026Rabinowitz DanielSEC. AND CHIEF LEGAL OFFICERopen-market sale10b5-1884$406.00$359K169,189Oct 29, 2026
Oct 27, 2026Moshkevich SolomonPRESIDENT, CLINICALDIAGNOSTICSopen-market sale10b5-11,010$406.00$410K105,904Oct 29, 2026
Oct 27, 2026Fesko JohnPRESIDENT, CHIEF BUS. OFFICERopen-market sale10b5-1781$406.00$317K196,476Oct 29, 2026
Oct 27, 2026Chapman Steven LeonardCEO AND PRESIDENT, Directoropen-market sale10b5-12,264$406.00$919K94,662Oct 29, 2026
Oct 27, 2026Brophy Michael BurkesCHIEF FINANCIAL OFFICERopen-market sale10b5-1781$406.00$317K50,856Oct 29, 2026
Oct 21, 2026Sheena JonathanDirectoropen-market sale10b5-1200$406.50$81K221,114Oct 23, 2026
Oct 21, 2026Sheena JonathanDirectoropen-market sale10b5-1962$408.26$393K220,152Oct 23, 2026
Oct 21, 2026Sheena JonathanDirectoropen-market sale10b5-1627$409.89$257K219,525Oct 23, 2026
Oct 21, 2026Sheena JonathanDirectoropen-market sale10b5-1605$411.32$249K218,920Oct 23, 2026
Oct 21, 2026Sheena JonathanDirectoropen-market sale10b5-1211$412.20$87K218,709Oct 23, 2026
Oct 21, 2026Sheena JonathanDirectoropen-market sale10b5-1125$413.05$52K218,584Oct 23, 2026
Oct 21, 2026Sheena JonathanDirectoropen-market sale10b5-1255$415.67$106K218,329Oct 23, 2026
Oct 21, 2026Sheena JonathanDirectoropen-market sale10b5-1165$416.67$69K218,164Oct 23, 2026
Oct 16, 2026Sheena JonathanDirectoropen-market sale10b5-1indirect215$399.34$86K8,785Oct 20, 2026

Full insider history for Natera, or insider activity across all companies. A record of filings, not a recommendation.

Tracked funds holding it

2 of the tracked managers held NTRA in their latest 13F filing, through August 14, 2026. Weight is the share of the fund’s reported portfolio. How the funds have traded NTRA by quarter.

FundManagerQuarterValueSharesWeightMove
Duquesne Family OfficeStanley DruckenmillerQ2 2026$865M3M16.60%added +4.0%
Baron Capital GroupRon BaronQ2 2026$3M10,2380.00%trimmed −38.5%

Sources

Fiscal year ends in month 12; periods are labeled with the issuer's own fiscal calendar. Values are as most recently filed (restatements apply; per-share values are on current split basis per the connector's split table, flagged in adjusted). Flow items flagged in `derived` were computed (Q4 = FY − nine months; quarterly cash flow differenced from year-to-date filings) rather than read from a filing. `reconciliation.repaired` lists periods where a full-year figure was filed in a quarter slot: that row was dropped and the quarter rebuilt from the annual figure. `reconciliation.quarantined` lists periods where four filed quarters do not sum to the filed year — those quarterly values are withheld, so a blank there is a withholding rather than an absence of reporting.

Filer
NATERA, INC., CIK 1604821 on EDGAR
Extract generated
August 27, 2026
Withheld
5 line-years whose four quarters do not sum to the filed year: net income FY2016, revenue FY2016, capex FY2019, cfo FY2019, depreciation amortization FY2019
Repaired
1 quarters where a full-year figure was filed in a quarter slot and the quarter was rebuilt: income tax FY2024
XBRL concepts behind each line

Income statement

Revenue: RevenueFromContractWithCustomerExcludingAssessedTax, Revenues, SalesRevenueNet
Cost of revenue: CostOfGoodsAndServicesSold
Gross profit: GrossProfit
Research and development: ResearchAndDevelopmentExpense
Selling, general and administrative: SellingGeneralAndAdministrativeExpense
Operating income: OperatingIncomeLoss
Other income (expense): OtherNonoperatingIncomeExpense
Pretax income: IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax: IncomeTaxExpenseBenefit
Net income: NetIncomeLoss
Diluted EPS ($): EarningsPerShareDiluted
Diluted shares (millions): WeightedAverageNumberOfDilutedSharesOutstanding

Balance sheet

Cash and equivalents: CashAndCashEquivalentsAtCarryingValue
Short-term investments: MarketableSecuritiesCurrent
Total current assets: AssetsCurrent
Total assets: Assets
Total current liabilities: LiabilitiesCurrent
Long-term debt: LongTermDebt
Total liabilities: Liabilities
Stockholders’ equity: StockholdersEquity
Shares outstanding (millions): dei:EntityCommonStockSharesOutstanding

Cash flow statement

Operating cash flow: NetCashProvidedByUsedInOperatingActivities
Capital expenditures: PaymentsToAcquirePropertyPlantAndEquipment
Free cash flow (CFO − capex): not filed
Depreciation and amortization: DepreciationDepletionAndAmortization
Share repurchases: not filed
Dividends paid: not filed

The data

The statements on this page as files, generated August 27, 2026.

JSON file
/data/financials/NTRA.json