Income StatementBalance SheetCash FlowSegments
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Natera, Inc. Cash Flow Statement

Operating, investing, and financing cash movements

Natera, Inc. generated $211.0M in operating cash flow over the trailing twelve months. After $106.5M in capital expenditures, free cash flow was $104.5M. Free cash flow increased 0.2% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$211.0MNet Cash From Investing (TTM)-$147.5MNet Cash From Financing (TTM)$50.7MCapital Expenditures (TTM)$106.5MDepreciation And Amortization Cf (TTM)$47.0MNet Change In Cash (TTM)$114.2M
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$27.6B
ROE-22.6%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of intangible assets—$300.0K———$7.1M
Change in accounts payable$2.4M$2.4M$4.6M$5.4M—$21.9M
Change in accounts receivable$7.3M$4.1M-$9.0M-$22.8M—$121.1M
Change in accrued liabilities$13.1M$17.0M$8.8M$22.4M$12.1M$98.2M
Change in deferred revenue$1.8M$671.0K$789.0K$178.0K$1.1M$11.9M
Change in inventories—$5.6M$3.9M$10.4M$971.0K$2.3M
Change in operating lease liabilities-$4.3M-$4.5M-$4.8M-$4.9M-$5.5M-$5.9M
Change in other assets—$9.4M-$2.8M$2.4M$0.0$17.1M
Change in other liabilities—$0.0———-$920.0K
Change in fair value of contingent consideration—$0.0———$6.1M
Depreciation and amortization$7.8M$9.2M$9.9M$10.3M$12.4M$14.5M
Change in other non-current liabilities—$0.0———-$920.0K
Foreign Currency Transaction Gain (Loss)-$106.0K-$138.0K$106.0K-$17.0K—-$258.0K
Net cash from operating activities$52.9M$44.5M$37.6M$59.4M$73.9M$40.2M
Net income-$53.8M-$66.9M-$100.9M-$87.5M—-$85.1M
Amortization Of Acquired Intangible Assets—$430.0K$430.0K$430.0K$430.0K—
Contingent consideration fair value adjustments—$0.0———$6.1M
Foreign currency remeasurement (loss) gain on debt-$106.0K-$138.0K$106.0K-$17.0K—-$258.0K
Increase Decrease Deferred Tax Liability—$15.2M$15.2M$15.2M$15.2M—
Accrued compensation and employee benefits$13.1M$17.0M$8.8M$22.4M$12.1M$98.2M
Operating lease liabilities-$4.3M-$4.5M-$4.8M-$4.9M-$5.5M-$5.9M
Operating lease right-of-use assets—$0.0———$255.0K
Accrued liabilities—$26.9M$13.6M$7.7M—$12.1M
Other long-term liabilities—$0.0———-$920.0K
Increase (Decrease) in Prepaid Expense and Other Assets—$9.4M-$2.8M$2.4M$0.0$17.1M
Non-cash operating lease expense$4.2M$4.4M$5.0M$5.4M$5.4M$5.9M
Non-cash interest expense$155.0K-$17.0K-$7.0K$4.0K-$19.0K-$18.0K
Non-cash settlement expense—$0.0———$1.2M
Noncash Expense Recovery$110.5K$361.0K$361.0K$362.0K$361.0K$596.0K
Amortization of premiums and accretion of purchase discounts on investment securities$0.0$9.0K$10.0K$13.0K$0.0$0.0
Fair Value Adjustment of Warrants—-$3.2M$0.0$0.0$0.0-$166.0K
Stock-based compensation$71.9M$77.8M$93.4M$90.6M$92.6M$95.1M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$18.1M$21.8M$25.9M$22.4M$36.1M$22.1M
Investment In Related Party$667.5K$0.0———$10.0M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$7.0M$5.0M$2.0M$15.0M$1.0M$0.0
Net cash from investing activities$0.0-$16.8M-$23.9M-$19.9M-$71.6M-$32.1M
Proceeds from maturities/sales of investments$0.0$5.0M$2.0M——$0.0

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt Conversion Instrument Amount$71.7M—————
Income taxes paid$326.8K$124.8K$124.8K$124.8K$124.8K—
Interest paid$1.1M$1.0M$1.0M$1.0M$991.0K$889.0K
Income Taxes Paid, Net$326.8K$124.8K$124.8K$124.8K$124.8K—

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Payments Of Stock Issuance Costs—$0.0———$105.0K
Conversion of Debt$71.7M—————
Net cash from financing activities$11.0M$544.0K$12.6M$1.9M$32.4M$3.8M
Proceeds from issuance of common stock$2.6M$544.0K$340.0K$1.9M$19.7M$3.9M
Payments of Stock Issuance Costs—$0.0———$105.0K

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$34.8M$22.6M$11.7M$37.0M$37.8M$18.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash$52.7M$28.2M$26.3M$41.4M$34.7M$11.8M
Acquisition of Warrants and Warrants Receivable—$0.0———$7.2M
Issuance of common stock for bonus$0.0$32.1M$812.0K$0.0$0.0$47.0M
Contingent Consideration For Business Acquisition—$29.6M$29.6M$29.6M$29.6M—
Consideration for business combination—$0.0———-$213.0K
Purchases of property and equipment in accounts payable and accruals$2.3M$4.2M-$9.0M$3.0M—$18.2M
Stock-based compensation included in capitalized software development costs$534.0K$608.0K$789.0K$878.0K$624.0K$391.0K
Issuance of common stock for the acquisition of Ansys—$0.0———$774.0K