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Natera, Inc. NTRA Product revenues — Cost of revenues

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Other financials

Income statement

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Revenue$696.6M+38.8%
Operating income-$93.5M-18.1%
Net income-$85.1M-27.1%
EPS (diluted)-$0.60-20.0%

Balance sheet

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Cash & equivalents$1.1B+11.7%
Total debt$240.1M+22.7%
Total equity$1.8B+43.1%
Total assets$2.6B+50.9%

Cash flow

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Operating cash flow$40.2M-9.6%
CapEx$22.1M+1.5%
Free cash flow$18.0M-20.3%

Valuation

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Market cap$38.35B+106%
Enterprise value$37.5B+110%
P/S15.3×+5.8×

Profitability

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Gross margin42.9%
Operating margin-13%+0.6pp
Net margin-14.6%+0.6pp
FCF margin4.2%-0.5pp

Returns & leverage

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Return on equity-29%+4.1pp
Debt / equity0.1×0.0×
Current ratio-0.9×

Where this comes from

Reported directly by Natera, Inc. in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The source filing: Natera, Inc.’s 10-Q, filed May 8, 2026.

Filed
May 7, 2026, 8:00 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-032478
Line itemThree months ended March 31, 2026Three months ended March 31, 2025
Licensing and other revenues2,7761,794
Total revenues696,644501,830
Cost and expenses
Cost of product revenues245,203184,613
Cost of licensing and other revenues608452
Research and development210,702129,078
Selling, general and administrative327,938266,864
Amortization of acquired intangible assets5,709

Item 1. Financial Statements (unaudited)

FAQ

What is Natera, Inc.'s product revenues — cost of revenues?
Natera, Inc. (NTRA) reported product revenues — cost of revenues of $245.2M in Q1 2026.
How has Natera, Inc.'s product revenues — cost of revenues changed year-over-year?
Natera, Inc.'s product revenues — cost of revenues increased by 32.8% year-over-year, from $184.61M to $245.2M.
What is the long-term trend for Natera, Inc.'s product revenues — cost of revenues?
Over 4 years (2021 to 2025), Natera, Inc.'s product revenues — cost of revenues has grown at a 26.6% compound annual growth rate (CAGR), from $315.2M to $810.63M.
What does product revenues — cost of revenues mean?
This metric captures the direct costs associated with producing and delivering the company's diagnostic tests, including laboratory processing, reagents, personnel, and shipping expenses. It represents the variable costs required to generate the product revenue segment. Monitoring this metric is essential for evaluating the scalability of the company's testing operations and the efficiency of its laboratory workflow.

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