Natera Q1 2023 Earnings Report
Key Takeaways
Natera reported a 24.5% increase in total revenue to $241.8 million, driven by a 25.2% increase in product revenue due to higher test volumes. The company processed approximately 626,200 tests, with a net loss of $136.9 million, or ($1.23) per diluted share.
Total revenues increased by 24.5% to $241.8 million compared to Q1 2022.
Product revenues grew by 25.2% to $237.8 million compared to Q1 2022, driven by increased test volumes.
Approximately 626,200 tests were processed, including 607,700 tests accessioned in Natera's laboratory.
The company reported a net loss of $136.9 million, or ($1.23) per diluted share.
Natera
Natera
Forward Guidance
Natera is raising its expectations for 2023 total revenue from $980 million to $1.0 billion to a new range of $995 million to $1.015 billion, and continues to expect 2023 gross margin to be approximately 41% to 44% of revenues; selling, general and administrative costs to be approximately $510 million to $540 million; research and development costs to be $325 million to $345 million, and net cash consumption to be approximately $300 million to $325 million.