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Natera, Inc. logo

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$31.4B
ROE-29.02%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of intangible assets—$300K———$7.1M
Change in accounts payable$2.4M$2.4M$4.6M$5.4M—$21.9M
Change in accounts receivable$7.3M$4.1M-$9M-$22.8M—$121.1M
Change in accrued liabilities$13.1M$17M$8.8M$22.4M$12.1M$98.2M
Change in deferred revenue$1.8M$671K$789K$178K$1.1M$11.9M
Change in inventories—$5.6M$3.9M$10.4M$971K$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—$2.4M—$17.1M
Change in other liabilities—$0———-$920K
Change in fair value of contingent consideration—$0———$6.1M
Depreciation and amortization$7.8M$9.2M$9.9M$10.3M$12.4M$14.5M
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—$430K$430K$430K$430K—
Amortization of capitalized software and acquired intangible assets—$300K———$7.1M
Contingent consideration fair value adjustments—$0———$6.1M
Foreign currency remeasurement (loss) gain on debt-$106K-$138K—-$17K—-$258K
Increase Decrease Deferred Tax Liability—$15.2M$15.2M$15.2M$15.2M—
Accrued compensation and employee benefits$13.1M$17M$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——$4.1M$255K
Accrued liabilities—$26.9M$13.6M$7.7M—$12.1M
Other long-term liabilities—$0———-$920K
Increase (Decrease) in Prepaid Expense and Other Assets—$9.4M—$2.4M—$17.1M
Non-cash operating lease expense$4.2M$4.4M$5M$5.4M$5.4M$5.9M
Non-cash interest expense$155K-$17K-$7K—-$19K-$18K
Non-cash settlement expense—$0———$1.2M
Noncash Expense Recovery$362K$361K$361K$362K$361K$596K
Amortization of premiums and accretion of purchase discounts on investment securities$0$9K$10K$13K$0$0
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———$10M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$7M$5M$2M$15M$1M$0
Net cash from investing activities—-$16.8M-$23.9M-$19.9M-$71.6M-$32.1M
Proceeds from maturities/sales of investments—$5M$2M——$0

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Payments Of Stock Issuance Costs—$0———$105K
Net cash from financing activities$11M$544K$12.6M$1.9M$32.4M$3.8M
Proceeds from issuance of common stock$2.6M$544K$340K$1.9M$19.7M$3.9M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$34.8M$22.6M$11.7M$37M$37.8M$18M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$326.8K$124.8K$124.8K$124.8K$124.8K—
Interest paid$1.1M$1M$1M$1M$991K$889K
Income Taxes Paid, Net$326.8K$124.8K$124.8K$124.8K$124.8K—

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———$7.2M
Issuance of common stock for bonus—$32.1M$812K——$47M
Contingent Consideration For Business Acquisition—$29.6M$29.6M$29.6M$29.6M—
Value of common stock issued to settle convertible senior notes$71.7M—————
Fair Value Adjustment Of Warrants—-$3.2M———-$166K
Consideration for business combination—$0———-$213K
Purchases of property and equipment in accounts payable and accruals$8.5M$4.2M-$9M——$18.2M
Stock-based compensation included in capitalized software development costs$534K$608K$789K$878K$624K$391K
Issuance of common stock for the acquisition of Ansys—$0———$774K