Income StatementBalance SheetCash FlowSegments
Natera, Inc. logo

Natera, Inc. Business Segments

Business, geographic, and product segment breakdowns

Natera, Inc. generates $2.5B in annual revenue across 1 key segments: Business Segments (0.6). The company-wide operating margin is -12.97%. Based on the Q1 2026 filing.

Business Segments64.7%
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$27.6B
ROE-22.6%

Products & Services

Cost of revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product revenues$176.0M$184.6M$199.5M$207.3M$219.2M$245.2M
Licensing and other revenues$459.0K$452.0K$465.0K$548.0K$841.0K$608.0K

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product revenues$472.9M$500.0M$544.4M$590.2M$661.2M$693.9M
Licensing and other revenues$3.2M$1.8M$2.2M$2.0M$4.3M$2.8M

Revenue recognized

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Oncology—$100.0K———$100.0K

Approximate percentage of revenue collected within 9 months

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Product revenues0.0%90.0%0.0%0.0%0.0%90.0%

Deferred Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Royalty$1.4M———$500.0K—

Cost of Goods Sold

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Shipping And Handling$10.9M$13.7M$13.7M$13.7M$13.7M—

Increase (Decrease) in Net Income (Loss) Per Share

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Test Revenue—$-0.25———$-0.43

Increased revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Test Revenue—$34.3M———$61.0M

Geographic

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Europe, Middle East, India, Africa—$6.0M$5.4M$6.0M—$6.4M
Americas, excluding U.S.—$1.7M———$2.4M
Asia Pacific and Other—$1.8M———$2.2M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Europe Middle East India And Africa$6.0M$6.1M$6.1M$6.1M$6.1M—

Business Segments

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenues—$501.8M———$696.6M
Gross Profit—$316.8M———$450.8M
Gross margin percentage—63.1%———64.7%