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Natera, Inc. NTRA Test Revenue — Increased revenue

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Other financials

Income statement

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Revenue$752.8M+37.7%
Operating income-$75.8M+31.3%
Net income-$67.0M+33.7%
EPS (diluted)-$0.47+36.5%

Balance sheet

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Cash & equivalents$1.1B+9.1%
Total debt$238.5M+21.6%
Total equity$1.8B+46.2%
Total assets$2.7B+51.2%

Cash flow

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Operating cash flow$54.8M+45.8%
CapEx$63.4M+145%
Free cash flow$18.0M-20.3%

Valuation

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Market cap$39.33B+102%
Enterprise value$38.48B+106%
P/S14.5×+4.6×

Profitability

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Gross margin42.9%
Operating margin-10.7%-2.4pp
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-0.7×

Where this comes from

Reported directly by Natera, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice.

The source filing: Natera, Inc.’s 10-Q, filed August 7, 2026.

Filed
Aug 6, 2026, 8:00 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-054525

During the three months ended June 30, 2026 and 2025, the Company increased revenue by a net of $52.3 million and $45.3 million, respectively, related to changes in estimate that increased revenue for tests delivered in prior periods as it was deemed probable that a significant reversal in the amount of cumulative revenue recognized will not occur, which increased revenue and decreased net loss by a corresponding amount and decreased loss per share by $0.36 and $0.33 for the three months ended June 30, 2026 and 2025, respectively. During the six months ended June 30, 2026 and 2025, the Company increased revenue by a net of $113.3 million and $79.6 million, respectively, related to changes in estimate that increased revenue for tests delivered in prior periods as it was deemed probable that a significant reversal in the amount of cumulative revenue recognized will not occur, which increased revenue and decreased net loss by a corresponding amount and decreased loss per share by $0.80 and $0.59 for the six months ended June 30, 2026 and 2025, respectively.

Item 1. Financial Statements (unaudited)

FAQ

What is Natera, Inc.'s test revenue — increased revenue?
Natera, Inc. (NTRA) reported test revenue — increased revenue of $52.3M in Q2 2026.
What does test revenue — increased revenue mean?
This metric represents the portion of revenue recognized from diagnostic tests delivered in prior reporting periods that has now been fully collected in cash. It serves as a measure of revenue realization and cash conversion efficiency for the company's core testing portfolio. By isolating collections from historical test volumes, it provides visibility into the lag between service delivery and final payment settlement.

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