$NTRA

Natera, Inc.

CIK:0001604821|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total revenues	$ 752,750	$ 546,600	$ 1,449,394	$ 1,048,431
Cost and expenses
Research and development	228,071	146,427	438,773	275,504
Selling, general and administrative	327,203	310,549	655,142	577,414
Amortization of acquired intangible assets	5,700	0	11,400	0
Total cost and expenses	828,542	656,972	1,618,703	1,237,978
Loss from operations	(75,792)	(110,372)	(169,309)	(189,547)
Interest expense	(890)	(1,029)	(1,782)	(2,034)
Interest and other income, net	9,452	10,738	19,053	24,155
Loss before income taxes	(67,230)	(100,663)	(152,038)	(167,426)
Income tax benefit (expense)	261	(275)	(22)	(448)
Net loss	(66,969)	(100,938)	(152,060)	(167,874)
Unrealized gain (loss) on available-for-sale securities, net of tax and foreign currency translation adjustment	94	(90)	150	57
Comprehensive loss	$ (66,875)	$ (101,028)	$ (151,910)	$ (167,817)
Net loss per share (Note 14):
Basic (in dollars per share)	$ (0.47)	$ (0.74)	$ (1.07)	$ (1.24)
Diluted (in dollars per share)	$ (0.47)	$ (0.74)	$ (1.07)	$ (1.24)
Weighted-average number of shares used in computing basic and diluted net loss per share:
Basic (in shares)	143,279	136,388	142,395	135,632
Diluted (in shares)	143,279	136,388	142,395	135,632
Foresight Diagnostics, Inc.
Cost and expenses
Amortization of acquired intangible assets	$ 5,707	$ 0	$ 11,416	$ 0
Product revenues
Revenues
Total revenues	747,929	544,427	1,441,796	1,044,463
Cost and expenses
Cost of revenues	266,597	199,531	511,800	384,143
Licensing and other revenues
Revenues
Total revenues	4,821	2,173	7,598	3,968
Cost and expenses
Cost of revenues	$ 964	$ 465	$ 1,572	$ 917

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (152,060)	$ (167,874)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	29,998	19,096
Amortization of acquired intangible assets	11,400	0
Amortization of premiums and accretion of purchase discounts on investment securities	0	19
Non-cash settlement expense	1,226	0
Non-cash lease expense	13,346	9,348
Stock-based compensation	198,204	171,185
Change in fair value of warrants and preferred stock of related party equity investment	(166)	(3,235)
Revaluation of contingent consideration	550	0
Other non-cash items	449	8
Non-cash expense recovery	(1,310)	(722)
Changes in operating assets and liabilities:
Accounts receivable	(125,440)	4,941
Inventory	(11,903)	(9,528)
Operating lease right-of-use assets	1,368	0
Prepaid expenses and other assets	(9,479)	(6,595)
Accounts payable	35,618	6,979
Accrued compensation	58,899	25,787
Operating lease liabilities	(11,971)	(9,307)
Other accrued liabilities	43,123	40,464
Deferred revenue	14,670	1,460
Other long-term liabilities	(1,574)	0
Net cash provided by operating activities	94,964	82,026
Investing activities
Proceeds from maturity of investments	0	7,000
Purchases of property and equipment, net	(85,566)	(47,712)
Investment in related party	(10,000)	0
Net cash used in investing activities	(95,566)	(40,712)
Financing activities
Proceeds from exercise of stock options	4,736	884
Cash paid to satisfy statutory withholding requirement for net settlement of cashless stock option exercises	(5,097)	0
Proceeds from the issuance of common stock under the employee stock purchase plan	16,430	12,236
Stock issuance costs	(105)	0
Net cash provided by financing activities	15,964	13,120
Net change in cash, cash equivalents and restricted cash	15,362	54,434
Cash, cash equivalents and restricted cash, beginning of period	1,076,140	945,587
Cash, cash equivalents and restricted cash, end of period	1,091,502	1,000,021
Supplemental disclosure of cash flow information:
Cash paid for interest	1,782	2,034
Non-cash investing and financing activities:
Purchases of property and equipment in accounts payable and accruals	15,349	(4,819)
Acquisition of warrants and warrants receivable	7,162	0
Consideration for business combination	30	0
Issuance of common stock for IPR&D milestone	774	0
Issuance of common stock for bonuses	47,026	32,875
Stock-based compensation included in capitalized software development costs	994	1,397
Foresight Diagnostics, Inc.
Adjustments to reconcile net loss to net cash provided by operating activities:
Amortization of acquired intangible assets	11,416	$ 0
Revaluation of contingent consideration	$ 2,100

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash, cash equivalents and restricted cash	$ 1,091,502	$ 1,076,140
Accounts Receivable, after Allowance for Credit Loss, Current	421,968	296,528
Inventory	80,346	68,443
Prepaid expenses and other current assets	65,134	55,828
Total current assets	1,658,950	1,496,939
Property and equipment, net	317,568	241,184
Operating lease right-of-use assets	129,687	108,541
Goodwill	141,100	141,070
Intangible assets	360,204	373,713
Other assets	49,988	36,897
Total assets	2,657,497	2,398,344
Current liabilities:
Accounts payable	75,154	33,156
Accrued compensation	105,915	92,603
Contingent consideration payable, current portion	22,818	21,580
Deferred revenue, current portion	40,566	24,907
Short-term debt financing	80,291	80,323
Total other accrued liabilities	228,456	188,659
Total current liabilities	553,200	441,228
Contingent consideration payable, long-term portion	97,687	96,780
Deferred tax liability, long-term portion	701	701
Operating lease liabilities, long-term portion	143,074	118,473
Deferred revenue, long-term portion	16,074	17,062
Other liabilities	25,262	11,687
Total liabilities	835,998	685,931
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock, $0.0001 par value: 750,000 shares authorized at both June 30, 2026 and December 31, 2025; 143,612 and 139,693 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	14	14
Additional paid-in capital	4,749,675	4,488,679
Accumulated deficit	(2,928,082)	(2,776,022)
Accumulated other comprehensive loss	(108)	(258)
Total stockholders’ equity	1,821,499	1,712,413
Total liabilities and stockholders’ equity	$ 2,657,497	$ 2,398,344