What is Natera, Inc.'s R&D?

Natera, Inc. (NTRA) reported R&D of $210.7M in Q1 2026.

How has Natera, Inc.'s R&D changed year-over-year?

Natera, Inc.'s R&D increased by 63.2% year-over-year, from $129.08M to $210.7M.

What is the long-term trend for Natera, Inc.'s R&D?

Over 4 years (2021 to 2025), Natera, Inc.'s R&D has grown at a 24.0% compound annual growth rate (CAGR), from $264.21M to $624.11M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Natera, Inc. NTRA R&D

R&D at other companies

Myriad GeneticsMYGN

$27.1M-1.5%

NeoGenomicsNEO

$10.76M+19.3%

IlluminaILMN

$252M+2.0%

CareDxCDNA

$21.42M+15.6%

VeracyteVCYT

$27.1M+52.9%

Adaptive BiotechnologiesADPT

$23.62M-2.4%

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$36.12B+94.7%

Enterprise value$35.27B+98.8%

P/S14.4×+5.0×

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 ratio3×-0.9×

Where this comes from

Reported directly by Natera, Inc. in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Natera, Inc.’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Natera, Inc.'s R&D?: Natera, Inc. (NTRA) reported R&D of $210.7M in Q1 2026.
How has Natera, Inc.'s R&D changed year-over-year?: Natera, Inc.'s R&D increased by 63.2% year-over-year, from $129.08M to $210.7M.
What is the long-term trend for Natera, Inc.'s R&D?: Over 4 years (2021 to 2025), Natera, Inc.'s R&D has grown at a 24.0% compound annual growth rate (CAGR), from $264.21M to $624.11M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.