Natera, Inc., a diagnostics company, engages in the development and commercialization of molecular testing services worldwide.
Profile & Fundamentals
Natera: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
Natera Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
Natera, Inc., a diagnostics company, engages in the development and commercialization of molecular testing services worldwide. It offers Signatera, a personalized ctDNA blood test for MRD assessment, early recurrence monitoring, and evaluation of treatment response in patients previously diagnosed with cancer; Latitude, a blood-based MRD test for colorectal cancer; Altera, a tissue based comprehensive genomic profiling test; and Empower, a hereditary cancer screening test. The company also provides Panorama, a non-invasive prenatal test; Horizon, a carrier screening test; Fetal Focus, a single-gene NIPT, or sgNIPT, that screens for 21 single-gene inherited conditions; and Vistara, a single-gene NIPT, which screens for 25 single-gene conditions. In addition, it offers Anora, which tests and analyzes miscarriage tissue from women who have experienced one or more pregnancy losses; Empower, a hereditary cancer screening test; Prospera, a test to assess active rejection in patients who have undergone solid organ transplantation; Renasight, a kidney gene panel test; and Constellation software, a cloud-based distribution model. Further, the company provides NateraCore, a platform to support the patient and provider experience; phlebotomy services; and EMR integration services. The company serves independent laboratories, national and regional reference laboratories, medical centers and physician practices for its screening tests, research laboratories, and pharmaceutical companies through its direct sales force and laboratory distribution partners, as well as Constellation licensees under its cloud-based distribution model. It has a partnership agreement with BGI Genomics Co., Ltd. to develop, manufacture, and commercialize NGS-based genetic testing assays for clinical and commercial use. The company has a collaboration with Diakonos Oncology Corp. to assess molecular response in patients with refractory melanoma. The company was formerly known as Gene Security Network, LLC and changed its name to Natera, Inc. in Januar
Company profile record
Natera Inc
Common Stock · Health Care · Biotechnology
Company
- Company / asset
- Natera Inc
- Security type
- Common Stock
- Sector
- Health Care
- Industry
- Biotechnology
- HQ
- 🇺🇸 United States
- Head office
- 13011 McCallen Pass, Austin, TX, United States, 78753
Leadership & scale
- Chief executive
- Mr. Steven Leonard Chapman
- CEO year born
- 1979
- Full-time employees
- 6.1K
- Fiscal year end
- December
- IPO date
- 2015-07-02
Fundamentals snapshot
- Market Cap
- USD 57.4B
- P/E
- --
- Revenue (Q2 26)
- USD 752.8M
- Profit (Q2 26)
- USD -67.0M
- Dividend Yield
- --
- Revenue (FY 25)
- USD 2.3B
- Shares in public float
- 140.1M
- Insider ownership
- 2.81%
Reporting & identifiers
- Symbol
- NTRA.NASDAQ
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US6323071042
- Asset ID
- equity_9bcb5738-6092-5a90-83b0-28f2be8172b2
Ownership
Shares Outstanding
Latest: 143.3M | Max: 143.3M | Min: 54.1M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
97.79%
140.1M latest reported shares
Insider Ownership
2.81%
Latest reported insider stake
Short Float
0.03%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 54,132,000 |
| 2018-01-01 | 62,831,000 |
| 2019-01-01 | 78,287,000 |
| 2020-01-01 | 80,908,000 |
| 2021-01-01 | 92,558,000 |
| 2022-01-01 | 98,408,000 |
| 2023-01-01 | 119,300,000 |
| 2024-01-01 | 124,718,000 |
| 2025-01-01 | 136,721,000 |
| 2026-01-01 | 143,279,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| JPMorgan Chase & Co | 13,386,667 | 9.29% | 2026-03-31 |
| T. Rowe Price Associates, Inc. | 12,184,876 | 8.45% | 2026-03-31 |
| BlackRock Inc | 10,677,338 | 7.41% | 2026-03-31 |
| Vanguard Capital Management, LLC | 6,008,496 | 4.17% | 2026-03-31 |
| Vanguard Portfolio Management, LLC | 5,644,695 | 3.92% | 2026-03-31 |
| JPMorgan Large Cap Growth I | 5,550,940 | 3.85% | 2026-07-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 4,324,957 | 3% | 2026-08-31 |
| Wellington Management Company LLP | 4,040,738 | 2.8% | 2026-06-30 |
| State Street Corp | 3,417,472 | 2.37% | 2026-03-31 |
| Farallon Capital Management, L.L.C. | 3,207,366 | 2.23% | 2026-03-31 |
| Vanguard Small Cap Index | 3,130,598 | 2.17% | 2026-08-31 |
| Duquesne Family Office LLC | 3,063,606 | 2.13% | 2026-03-31 |
| Geode Capital Management, LLC | 2,775,928 | 1.93% | 2026-03-31 |
| Castle Hook Partners LP | 2,596,276 | 1.8% | 2026-06-30 |
| FMR Inc | 2,554,254 | 1.77% | 2026-03-31 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
Natera is demonstrating explosive revenue growth, reaching $2.71 billion over the trailing twelve months and growing 38% year-over-year in the second quarter of 2026. This expansion is powered by surging demand for Signatera, with oncology testing volume jumping 57%. Underneath the headline sales, however, the business remains unprofitable on a GAAP basis, posting a trailing net loss of $192 million. While reported operating cash flow turned positive and free cash flow reached $71.7 million, this cash generation is heavily supported by non-cash stock compensation and prior-period collection adjustments rather than true operational profits. Investors must distinguish between rapid top-line expansion and sustainable owner earnings.
Natera is demonstrating explosive revenue growth, reaching $2.71 billion over the trailing twelve months and growing 38% year-over-year in the second quarter of 2026. This expansion is powered by surging demand for Signatera, with oncology testing volume jumping 57%. Underneath the headline sales, however, the business remains unprofitable on a GAAP basis, posting a trailing net loss of $192 million. While reported operating cash flow turned positive and free cash flow reached $71.7 million, this cash generation is heavily supported by non-cash stock compensation and prior-period collection adjustments rather than true operational profits. Investors must distinguish between rapid top-line expansion and sustainable owner earnings.
Revenue, Net Income, and Free Cash Flow
Latest: USD 2.3B | Max: USD 2.3B | Min: USD -547.8M
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: --
No history available.
Profitability & Margins
Margins and Operating Efficiency
AI Review
Gross profit margins have improved dramatically, surging from 45.5% in 2023 to 64.8% in 2025 and holding at 64.5% in mid-2026. This structural improvement reflects automated laboratory robotics, cheaper sequencing chemistry, and a favorable product mix shift toward higher-priced oncology surveillance assays. In contrast, operating profit margins remain underwater at negative 10.7% over the trailing twelve months. High commercial sales overhead and elevated clinical trial expenditures absorb the entire gross profit expansion. Until sales and research costs stabilize relative to revenue, gross margin gains will struggle to translate into positive bottom-line net income.
Gross profit margins have improved dramatically, surging from 45.5% in 2023 to 64.8% in 2025 and holding at 64.5% in mid-2026. This structural improvement reflects automated laboratory robotics, cheaper sequencing chemistry, and a favorable product mix shift toward higher-priced oncology surveillance assays. In contrast, operating profit margins remain underwater at negative 10.7% over the trailing twelve months. High commercial sales overhead and elevated clinical trial expenditures absorb the entire gross profit expansion. Until sales and research costs stabilize relative to revenue, gross margin gains will struggle to translate into positive bottom-line net income.
Profitability Margins
Latest: 64.8% | Max: 64.8% | Min: -75.4%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
64.8%
Gross profit / revenue
Operating Margin
-13.4%
Operating income / revenue
Net Margin
-9.0%
Net income / revenue
FCF Margin
4.7%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 217,074,000 | -95,765,000 | -97,038,000 |
| 2017-12-31 | 210,939,000 | -136,314,000 | -106,659,000 |
| 2018-12-31 | 257,654,000 | -128,154,000 | -74,461,000 |
| 2019-12-31 | 302,328,000 | -124,827,000 | -68,412,000 |
| 2020-12-31 | 391,005,000 | -229,743,000 | -202,116,000 |
| 2021-12-31 | 625,486,000 | -471,716,000 | -376,266,000 |
| 2022-12-31 | 820,222,000 | -547,799,000 | -479,198,000 |
| 2023-12-31 | 1,082,571,000 | -434,801,000 | -286,154,000 |
| 2024-12-31 | 1,696,911,000 | -190,426,000 | 69,241,000 |
| 2025-12-31 | 2,306,113,000 | -208,160,000 | 109,113,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
No reported records are available in this preview.
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 37.54 | -44.45 | -44.12 | -44.7 |
| 2017-12-31 | 33.82 | -63.54 | -64.62 | -50.56 |
| 2018-12-31 | 35.55 | -44.49 | -49.74 | -28.9 |
| 2019-12-31 | 41.96 | -38.46 | -41.29 | -22.63 |
| 2020-12-31 | 47.92 | -55.31 | -58.76 | -51.69 |
| 2021-12-31 | 49.09 | -74.85 | -75.42 | -60.16 |
| 2022-12-31 | 44.37 | -65.96 | -66.79 | -58.42 |
| 2023-12-31 | 45.52 | -41.22 | -40.16 | -26.43 |
| 2024-12-31 | 60.3 | -13.1 | -11.22 | 4.08 |
| 2025-12-31 | 64.85 | -13.44 | -9.03 | 4.73 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-10-01.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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