Operating

Natera, Inc.·Cash Flow Statement·30 metrics

Breakdown

Metric	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Change in accounts receivable	$47.2M	—	$7.3M	$4.1M	-$9M	-$22.8M	—	$121.1M
Change in accrued liabilities	$1.9M	$7.6M	$13.1M	$17M	$8.8M	$22.4M	$12.1M	$98.2M
Accrued compensation and employee benefits	$1.9M	$7.6M	$13.1M	$17M	$8.8M	$22.4M	$12.1M	$98.2M
Stock-based compensation	$67.4M	$70.6M	$71.9M	$77.8M	$93.4M	$90.6M	$92.6M	$95.1M
Net income	-$37.5M	-$31.6M	-$53.8M	-$66.9M	-$100.9M	-$87.5M	—	-$85.1M
Net cash from operating activities	$4M	$51.8M	$52.9M	$44.5M	$37.6M	$59.4M	$73.9M	$40.2M
Change in accounts payable	$5.9M	—	$2.4M	$2.4M	$4.6M	$5.4M	—	$21.9M
Change in other assets	-$6.4M	—	—	$9.4M	—	$2.4M	—	$17.1M
Increase (Decrease) in Prepaid Expense and Other Assets	-$6.4M	—	—	$9.4M	—	$2.4M	—	$17.1M
Depreciation and amortization	$7.9M	$8.2M	$7.8M	$9.2M	$9.9M	$10.3M	$12.4M	$14.5M
Accrued liabilities	-$3M	-$11.9M	—	$26.9M	$13.6M	$7.7M	—	$12.1M
Change in deferred revenue	$251K	-$2M	$1.8M	$671K	$789K	$178K	$1.1M	$11.9M
Amortization of intangible assets	—	—	—	$300K	—	—	—	$7.1M
Amortization of capitalized software and acquired intangible assets	—	—	—	$300K	—	—	—	$7.1M
Change in fair value of contingent consideration	—	—	—	$0	—	—	—	$6.1M
Contingent consideration fair value adjustments	—	—	—	$0	—	—	—	$6.1M
Non-cash operating lease expense	$3.6M	$4M	$4.2M	$4.4M	$5M	$5.4M	$5.4M	$5.9M
Change in operating lease liabilities	-$4.1M	-$4.2M	-$4.3M	-$4.5M	-$4.8M	-$4.9M	-$5.5M	-$5.9M
Operating lease liabilities	-$4.1M	-$4.2M	-$4.3M	-$4.5M	-$4.8M	-$4.9M	-$5.5M	-$5.9M
Change in inventories	—	$7.7M	—	$5.6M	$3.9M	$10.4M	$971K	$2.3M
Non-cash settlement expense	—	—	—	$0	—	—	—	$1.2M
Change in other liabilities	—	—	—	$0	—	—	—	-$920K
Other long-term liabilities	—	—	—	$0	—	—	—	-$920K
Noncash Expense Recovery	—	—	$362K	$361K	$361K	$362K	$361K	$596K
Foreign currency remeasurement (loss) gain on debt	-$18K	$0	-$106K	-$138K	—	-$17K	—	-$258K
Operating lease right-of-use assets	—	—	—	$0	—	—	$4.1M	$255K
Non-cash interest expense	-$12K	$2.7M	$155K	-$17K	-$7K	—	-$19K	-$18K
Amortization Of Acquired Intangible Assets	—	—	—	$430K	$430K	$430K	$430K	—
Increase Decrease Deferred Tax Liability	—	—	—	$15.2M	$15.2M	$15.2M	$15.2M	—
Amortization of premiums and accretion of purchase discounts on investment securities	-$96K	-$77K	$0	$9K	$10K	$13K	$0	$0

Metrics

Amortization of premiums and accretion of purchase discounts on investment securities

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Stock-based compensation

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Operating

Breakdown

Metrics

Amortization of intangible assets

Change in accounts payable

Change in accounts receivable

Change in accrued liabilities

Change in deferred revenue

Change in inventories

Change in operating lease liabilities

Change in other assets

Change in other liabilities

Change in fair value of contingent consideration

Depreciation and amortization

Net cash from operating activities

Net income

Amortization Of Acquired Intangible Assets

Amortization of capitalized software and acquired intangible assets

Contingent consideration fair value adjustments

Foreign currency remeasurement (loss) gain on debt

Increase Decrease Deferred Tax Liability

Accrued compensation and employee benefits

Operating lease liabilities

Operating lease right-of-use assets

Accrued liabilities

Other long-term liabilities

Increase (Decrease) in Prepaid Expense and Other Assets

Non-cash operating lease expense

Non-cash interest expense

Non-cash settlement expense

Noncash Expense Recovery

Amortization of premiums and accretion of purchase discounts on investment securities

Stock-based compensation