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Natera (NTRA)
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Natera Income Statement 2025-2011 | NTRA
Brief overview of financial performance at Natera
The figures are compared over a five-year interval. According to figures from Natera, revenue changed from $391 million to $2.3 billion over five years. The five-year change reached +489.8%, while CAGR stood at 42.6%. The company expanded its revenue base at a high speed.
EBITDA changed from −$208 million to −$268 million (−29.1%). EBITDA underperformed the top-line trend. Comparing the endpoints gives EBITDA margins of −53.1% and −11.6%. The company improved its ability to convert sales into EBITDA.
The final result was −$230 million initially and −$208 million in the final year. Losses became smaller, but the business remains unprofitable.
The five-year change in capitalization reached +278.8%: from $8.1 billion to $30.5 billion. Investor expectations increased faster than reported performance.
What the figures show
Positive developments coexist with areas of weakness. Key strengths include a larger revenue base, improving net profitability and higher operating efficiency. The overall view is constrained by limited operating profitability. Investors should continue to monitor margins, costs, and earnings quality.
Annual Income Statement Natera
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
30.5 B | 27.9 B | 25.7 B | 5.31 B | 8.46 B | 8.06 B | 2.47 B | 845 M | 565 M | 448 M | 224 M | - | - | - | - |
Shares |
137 M | 125 M | 115 M | 98.4 M | 90.6 M | 81 M | 69.6 M | 57.8 M | 53.3 M | 51.6 M | 26.2 M | - | - | - | - |
Historical Prices |
223 | 223 | 223 | 53.9 | 93.4 | 99.5 | 33.7 | 14 | 8.99 | 11.7 | 10.8 | - | - | - | - |
Net Income |
-208 M | -190 M | -435 M | -548 M | -472 M | -230 M | -125 M | -128 M | -136 M | -95.8 M | -70.3 M | -5.15 M | -37.1 M | - | - |
Revenue |
2.31 B | 1.7 B | 1.08 B | 820 M | 625 M | 391 M | 302 M | 258 M | 211 M | 217 M | 190 M | 159 M | 55.2 M | - | - |
Cost of Revenue |
- | - | - | - | - | - | - | 158 M | 136 M | 134 M | - | - | - | - | - |
Gross Profit |
- | - | - | - | - | - | 127 M | 91.6 M | 71.3 M | 81.5 M | 77.5 M | 80.9 M | 17.9 M | - | - |
Operating Income |
-310 M | -222 M | -446 M | -541 M | -468 M | -216 M | -116 M | -115 M | -135 M | -101 M | -59.8 M | 665 K | -25.3 M | - | - |
Interest Expense |
4.07 M | 10.7 M | 12.6 M | 9.32 M | 8.3 M | 15.1 M | 10.7 M | 10.5 M | 4.21 M | 533 K | 3.5 M | 4.22 M | 1.87 M | - | - |
EBITDA |
-268 M | -191 M | -422 M | -524 M | -457 M | -208 M | -123 M | -107 M | -127 M | -90.3 M | -54.3 M | 5.81 M | -22.7 M | - | - |
Operating Expenses |
- | - | - | - | - | - | 258 M | 206 M | 205 M | 178 M | 137 M | 80.2 M | 43.2 M | - | - |
General and Administrative Expenses |
1.18 B | 841 M | 618 M | 589 M | 511 M | 304 M | 206 M | 155 M | 155 M | 136 M | 110 M | - | - | - | - |
All numbers in USD currency
Quarterly Income Statement Natera
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
142 M | 137 M | 136 M | 135 M | 124 M | 123 M | 121 M | 120 M | 115 M | 114 M | 112 M | - | - | - | 95.6 M | 95.1 M | 92.6 M | 88.1 M | 86.7 M | 86.2 M | 80.9 M | 79.1 M | 78.3 M | 78 M | 70.5 M | 68.2 M | 62.8 M | 62.1 M | 60.6 M | 54.6 M | 54.1 M | 54 M | 53.4 M | 53.1 M | 52.8 M | 52.7 M | 52 M | 51.4 M | 50.4 M | 50.3 M | 44.9 M | 5.49 M | 5.29 M | 6.88 M | 4.87 M | 4.72 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net Income |
-85.1 M | -87.5 M | -101 M | -66.9 M | -31.6 M | -37.5 M | -67.6 M | - | -109 M | -111 M | -137 M | - | - | - | -139 M | - | -151 M | -116 M | -63.9 M | - | -58.3 M | -59.6 M | -35.4 M | -35.2 M | -23.1 M | -32.4 M | -34.1 M | -31.8 M | -29.6 M | -33.8 M | -32.9 M | -47.2 M | -27.9 M | -29.1 M | -33.5 M | -37.9 M | -26 M | -23.2 M | -8.68 M | -23 M | -17.6 M | -19.7 M | -10 M | 1.25 M | 3.72 M | -514 K | -9.62 M | - | - | - | - | - | - | - | - | - | - | - | - |
Revenue |
697 M | 592 M | 547 M | 502 M | 440 M | 413 M | 368 M | - | 268 M | 261 M | 242 M | - | - | - | 194 M | - | 158 M | 142 M | 152 M | - | 98.1 M | 86.5 M | 94 M | 83.2 M | 77.9 M | 74.4 M | 66.8 M | 67 M | 65.3 M | 63.1 M | 62.3 M | 53.8 M | 56.7 M | 53.6 M | 46.9 M | 49.3 M | 53.9 M | 52 M | 61.9 M | 52.9 M | 44.9 M | 45.1 M | 47.4 M | 49.9 M | 46.3 M | 35.8 M | 27.3 M | - | - | - | - | - | - | - | - | - | - | - | - |
Cost of Revenue |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 42.7 M | 41.5 M | - | 40.1 M | 41.4 M | 41.6 M | 40.3 M | 39.5 M | 39.2 M | 39.1 M | 35.2 M | 33.6 M | 33.7 M | 33.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Gross Profit |
- | 724 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 38.8 M | 34 M | 30.5 M | 23.5 M | 24.2 M | 23.6 M | 22.1 M | 21.7 M | 15.3 M | 21.3 M | 17.7 M | 15.7 M | 11.3 M | 19.6 M | 21 M | 29.6 M | 21.1 M | 14.5 M | 19.4 M | 22.6 M | 27.2 M | 25.5 M | 16.8 M | 11.4 M | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Income |
-93.5 M | -97.6 M | -110 M | -79.2 M | -39.3 M | -43.9 M | -74.3 M | - | -111 M | -112 M | -138 M | - | - | - | -137 M | - | -150 M | -115 M | -63 M | - | -55.8 M | -51.7 M | -34.9 M | - | -21.1 M | -28.6 M | -31.7 M | - | -27.2 M | -27.2 M | -30.5 M | - | -25.8 M | -28.4 M | -34.6 M | - | -26.7 M | -22.5 M | -9.6 M | - | -20.7 M | -15.5 M | -6.28 M | - | 4.78 M | -1.2 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
Interest Expense |
9.6 M | 1.04 M | 1.03 M | 1 M | 3.14 M | 3.13 M | 3.12 M | - | 3.25 M | 3.18 M | 3.06 M | - | - | - | 2.09 M | - | 2.08 M | 2.08 M | 2.07 M | - | 4.27 M | 4.04 M | 2.46 M | - | 2.67 M | 2.72 M | 2.72 M | - | 2.78 M | 2.56 M | 2.39 M | - | 1.48 M | 218 K | 183 K | - | 146 K | 122 K | 115 K | - | 1.18 M | 1.2 M | 1.01 M | - | -561 K | 287 K | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
-79 M | -68.2 M | -91.3 M | -69.9 M | - | -28.9 M | -67.3 M | - | - | -102 M | -133 M | - | - | - | -134 M | - | -150 M | -115 M | -60.5 M | - | -49.6 M | -47.6 M | -33 M | - | -15.2 M | -24.7 M | -29.8 M | - | -21.6 M | -23.5 M | -28.7 M | - | -20.5 M | -24.8 M | -32.8 M | - | -22.5 M | -20.1 M | -8.41 M | - | -16.4 M | -12.5 M | -4.64 M | - | 8.45 M | 1.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
328 M | 309 M | 311 M | 267 M | 214 M | 198 M | 194 M | - | 155 M | 153 M | 150 M | - | - | - | 148 M | - | 128 M | 127 M | 108 M | - | 75.7 M | 68.2 M | 65.7 M | - | 56.7 M | 47 M | 43.8 M | - | 38.4 M | 37.4 M | 37.9 M | - | 34.5 M | 34.3 M | 37.6 M | - | 34.9 M | 33.2 M | 30.4 M | - | 27.9 M | 28.1 M | 23.2 M | - | 16.3 M | 13.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Natera (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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