Income Statement Balance Sheet Cash Flow Segments

Natera, Inc. Balance Sheet Statement

Assets, liabilities, and shareholders' equity

Natera, Inc. holds $2.6B in total assets. Shareholders' equity is $1.8B against $320.4M in total debt. Cash and equivalents total $1.1B. The current ratio is 2.96 and debt-to-equity is 0.181. Based on the Q1 2026 filing.

Total Assets$2.6B Total Stockholders Equity$1.8B Long Term Debt$286.5M Cash And Equivalents$1.1B Total Current Assets$1.7B Total Current Liabilities$558.3M

Latest FilingQ1 2026

Report Date2026-05-08

Market Cap$27.6B

ROE-22.6%

Current Liabilities

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Accounts payable	$34.9M	$39.2M	$36.9M	$46.5M	$33.2M	$62.4M
Accrued expenses	$62.1M	$47.1M	$55.0M	$77.4M	$92.6M	$143.8M
Accrued Litigation	—	—	—	—	$32.6M	$33.0M
Accrued Manufacturing Costs	$62.1M	$47.1M	$55.0M	$77.4M	$92.6M	$143.8M
Accrued Marketing and Advertising Expenses	—	—	—	—	$20.2M	$27.6M
Accrued Progress Collections and Price Adjustments	$16.8M	—	—	—	$17.1M	$17.0M
Contract liabilities	$16.8M	—	—	—	$17.1M	$17.0M
Compensation and benefits	$62.1M	$47.1M	$55.0M	$77.4M	$92.6M	$143.8M
Other accrued liabilities	$146.9M	$178.4M	$191.0M	$216.0M	$188.7M	$212.5M
Current portion of long-term debt	$80.4M	$80.3M	$80.3M	$80.3M	$80.3M	$80.3M
Deferred revenue	$19.8M	$20.6M	$21.6M	$21.8M	$24.9M	$36.9M
Lease Liability Payments - 2020 (Remaining Three Months)	—	—	—	—	—	$18.6M
Operating Lease Liability Payments - 2024 (Lessee)	—	—	—	—	—	$27.5M
Operating Lease Liability Payments - 2025 (Lessee)	—	—	—	—	—	$28.0M
Lease Liability Payments - Due Year Two	—	—	—	—	—	$27.5M
Lease Liability Payments - Due Year Three	—	—	—	—	—	$27.6M
Lease Liability Payments - Due Year Four	—	—	—	—	—	$28.0M
Lease Liability Payments - Remainder of Fiscal Year	—	—	—	—	—	$24.6M
Note payable to DIRECTV	$146.9M	$178.4M	$191.0M	$216.0M	$188.7M	$212.5M
Operating lease liabilities, current	$10.2M	$12.2M	$13.1M	$14.0M	$15.6M	$14.8M
Operating Lease Liability Payments Due	—	—	—	—	—	$204.5M
Operating Lease Liability - Undiscounted Excess Amount	—	—	—	—	—	$44.7M
Professional Service Fees Payable	—	—	—	—	$56.1M	$59.0M
Short-term borrowings	$80.4M	$80.3M	$80.3M	$80.3M	$80.3M	$80.3M
Total current liabilities	$344.0M	$365.7M	$384.8M	$442.0M	$441.2M	$558.3M

Current Assets

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Accounts receivable, net	$314.2M	$318.2M	$309.2M	$286.4M	$296.5M	$417.6M
Available-for-Sale Debt Securities - Amortized Cost	—	—	—	—	$1.1B	$1.1B
Allowance for Credit Losses - Receivable (Current)	$7.3M	$7.4M	—	—	$8.0M	$7.9M
Allowance for Doubtful Accounts	—	—	—	—	$8.0M	$7.9M
Allowance for Doubtful Accounts Receivable (Current)	—	—	—	—	$8.0M	$7.9M
Cash and cash equivalents	$945.6M	$973.8M	$1.0B	$1.0B	$1.1B	$1.1B
Cash, Cash Equivalents, and Marketable Securities	—	—	—	—	$1.1B	$1.1B
Derivative assets	—	—	—	—	$12.7M	$20.0M
Inventories	$44.7M	$50.4M	$54.3M	$64.6M	$68.4M	$70.7M
Prepaid expenses and other current assets	$48.6M	$56.2M	$52.1M	$53.9M	$55.8M	$75.6M
Total current assets	$1.4B	$1.4B	$1.4B	$1.4B	$1.5B	$1.7B

Equity

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Additional paid-in capital	$3.8B	$3.9B	$4.0B	$4.1B	$4.5B	$4.6B
Accumulated other comprehensive income (loss)	-$344.0K	-$197.0K	-$287.0K	-$187.0K	-$258.0K	-$202.0K
Common stock	12K	14K	14K	14K	14K	750M
Common Stock Par Value Per Share	—	—	—	—	$0.00	$0.00
Common Stock Shares Issued	—	—	—	—	139.7M	142.7M
Additional paid-in capital	$3.8B	$3.9B	$4.0B	$4.1B	$4.5B	$4.6B
Common stock; $0.001 par value; 6,000 shares authorized; 3,755 and 3,751 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	$12.0K	$14.0K	$14.0K	$14.0K	$14.0K	$14.0K
Retained earnings	-$2.6B	-$2.6B	-$2.7B	-$2.8B	-$2.8B	-$2.9B
Share-Based Payment Award Options Outstanding - Number	—	—	—	—	3.6M	3.2M
Total liabilities and stockholders' equity	$1.7B	$1.7B	$1.8B	$1.8B	$2.4B	$2.6B
Total stockholders' equity	$1.2B	$1.2B	$1.2B	$1.3B	$1.7B	$1.8B
Unrealized Gains on Investments	—	—	—	—	$0.0	$0.0
Unrealized Losses on Investments (Before Tax)	—	—	—	—	$0.0	$0.0
Weighted Average Exercise Price of Outstanding Options	—	—	—	—	$27.03	$28.77

Non-Current Assets

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Allowance for credit losses	—	—	—	—	$0.0	$0.0
Deferred tax assets	—	—	—	—	$701.0K	$701.0K
Deferred Tax Assets and Other Non-Current Assets	$25.8M	$40.9M	$41.1M	$70.7M	$36.9M	$51.0M
Finite-Lived Intangible Assets - Expected Amortization Expense (Year One)	—	—	—	—	—	$28.3M
Finite Lived Intangible Assets - Gross	—	—	—	—	$378.6M	$379.4M
Goodwill	—	—	—	—	$141.1M	$140.9M
Intangible assets, net	$10.9M	—	—	—	$373.7M	$367.4M
Investments - Amortized Cost Basis	—	—	—	—	$1.1B	$1.1B
Net Investment in Lease	$86.1M	$94.6M	$95.1M	$97.0M	$108.5M	$134.0M
Intangible assets — net	—	—	—	—	$373.7M	$367.4M
Other intangible assets—net	$10.9M	—	—	—	$373.7M	$367.4M
Operating lease right-of-use assets	$86.1M	$94.6M	$95.1M	$97.0M	$108.5M	$134.0M
Other non-current assets	$25.8M	$40.9M	$41.1M	$70.7M	$36.9M	$51.0M
Property, plant and equipment at cost	—	—	—	—	$352.3M	$389.8M
Operating lease right-of-use assets	8614900000.0%	9463100000.0%	9512800000.0%	9698800000.0%	10854100000.0%	6.5%
Operating Lease Right-of-Use Assets in Other Assets	$86.1M	$94.6M	$95.1M	$97.0M	$108.5M	$134.0M
Other non-current assets	$36.7M	$40.9M	$41.1M	$70.7M	$36.9M	$51.0M
Accumulated depreciation	—	—	—	—	$111.1M	$120.4M
Property and equipment, net	$162.0M	$180.5M	$189.2M	$206.5M	$241.2M	$269.4M
Software and Technology Licenses, Net	$25.8M	$40.9M	$41.1M	$70.7M	$36.9M	$51.0M
Total assets	$1.7B	$1.7B	$1.8B	$1.8B	$2.4B	$2.6B

Non-Current Liabilities

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Contingent Consideration Liability (Non-Current)	—	—	—	—	$96.8M	$103.2M
Contract Liabilities, Non-Current	$16.8M	—	—	—	$17.1M	$17.0M
Operating Lease Liability Payments - 2026 (Lessee)	—	—	—	—	—	$27.6M
Operating Lease Liability Payments - 2027 (Lessee)	—	—	—	—	—	$27.6M
Operating Lease Liability Payments - 2028 (Lessee)	—	—	—	—	—	$28.0M
Long-term debt collateral	—	—	—	—	—	$150.0M
Marketing and selling	—	—	—	—	$20.2M	$27.6M
Deferred revenue, net of current portion	$16.8M	—	—	—	$17.1M	$17.0M
Operating lease liabilities, non-current	$96.6M	$103.1M	$102.7M	$104.4M	$118.5M	$145.0M
Operating Lease Liabilities (Total)	$106.8M	$115.3M	$115.8M	$118.4M	$134.1M	$159.8M
Other non-current liabilities	$7.8M	—	—	—	$11.7M	$16.3M
Total liabilities	$465.3M	$492.7M	$510.9M	$569.3M	$118.4M	$125.6M
Unrecognized Tax Benefits - Income Tax Penalties and Interest Accrued	—	—	—	—	$0.0	$0.0

Other

Metric	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Cumulative Cost Basis	—	—	—	—	$1.1B	$1.1B
Line of Credit Remaining Borrowing Capacity	—	—	—	—	—	$20.0M
Accrued charges for third-party testing	—	—	—	—	$20.9M	$3.4M
Clinical trials and studies	—	—	—	—	$14.5M	$19.6M
Property and equipment purchases	—	—	—	—	$11.3M	$22.4M
Accrued Insurance Current And Noncurrent	—	—	—	—	$9.5M	$9.7M
Accrued Professional Fees Current And Noncurrent	—	—	—	—	$56.1M	$59.0M
Accrued shipping charges	—	—	—	—	$3.4M	$2.0M
Accrued third-party service fees	—	—	—	—	$9.8M	$20.5M
Testing and laboratory materials from suppliers	—	—	—	—	$12.4M	$21.1M
Allowance for doubtful accounts	—	—	—	—	$8.0M	$7.9M
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax	—	—	—	—	$0.0	$0.0
Gross Unrealized Gains	—	—	—	—	$0.0	$0.0
Total	—	—	—	—	$1.1B	$1.1B
Available for sale investments	—	—	—	—	$1.1B	$1.1B
Business Combination, Contingent Consideration, Liability	—	—	—	—	$118.4M	$125.6M
Clinical samples payable	—	—	—	—	—	$3.7M
Common stock, par value (in dollars per share)	—	—	—	—	$0.0	$0.0
Common stock, shares authorized (in shares)	—	—	—	—	$750.0M	$750.0M
Common stock, shares issued (in shares)	—	—	—	—	$139.7M	$142.7M
Common Stock, Shares, Outstanding	—	—	—	—	$139.7M	$142.7M
Contract with Customer, Liability	$36.6M	$37.3M	—	—	$42.0M	$53.9M
Debt instrument, collateral amount	—	—	—	—	—	$150.0M
Debt Securities, Available-for-Sale, Allowance for Credit Loss	—	—	—	—	$0.0	$0.0
Deferred Tax and Other Liabilities, Noncurrent	—	—	—	—	$701.0K	$701.0K
2031 and thereafter	—	—	—	—	—	$232.0M
Finite-Lived Intangible Assets, Accumulated Amortization	—	—	—	—	$4.9M	$12.0M
2028	—	—	—	—	—	$28.6M
2030	—	—	—	—	—	$28.3M
Remainder of 2026	—	—	—	—	—	$21.5M
2027	—	—	—	—	—	$28.6M
2029	—	—	—	—	—	$28.3M
Gross Carrying Amount	—	—	—	—	$378.6M	$379.4M
Goodwill, Gross	—	—	—	—	$141.1M	—
Lessee Operating Lease Liability Payments Due	—	—	—	—	—	$204.5M
2031 and thereafter	—	—	—	—	—	$78.2M
Lessee Operating Lease Liability Undiscounted Excess Amount	—	—	—	—	—	$44.7M
Estimated litigation liability	—	—	—	—	$32.6M	$33.0M
Operating Lease Weighted Average Discount Rate Percent	—	—	—	—	—	$0.1
Other accrued expenses	—	—	—	—	$6.8M	$3.0M
Purchase Obligation	—	—	—	—	—	$261.4M
Sales and income tax payable	—	—	—	—	$8.4M	$9.4M
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number	—	—	—	—	$3.6M	$3.2M
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price	—	—	—	—	$27.0	$28.8
Penalties and interest accrued on unrecognized tax benefits	—	—	—	—	$0.0	$0.0
Purchase Obligation	—	—	—	—	—	$261.4M
Remainder of Fiscal Year 2024	—	—	—	—	—	$18.6M
Remainder of Fiscal Year 2025	—	—	—	—	—	$21.5M