Natera Q3 2023 Earnings Report
Key Takeaways
Natera reported a 27.4% increase in total revenues, reaching $268.3 million, driven by a 32.7% increase in product revenues. The company processed approximately 626,000 tests, reflecting a 21.0% increase. They have revised their 2023 annual revenue guidance to $1.035 billion to $1.05 billion.
Total revenues were $268.3 million, a 27.4% increase compared to Q3 2022.
Product revenues increased by 32.7% to $265.2 million.
Approximately 626,000 tests were processed, a 21.0% increase from the previous year.
Net loss was $109.0 million, or ($0.95) per diluted share.
Natera
Natera
Forward Guidance
Natera is revising its 2023 annual guidance. The Company now expects annual revenue to be in a range of $1.035 billion to $1.05 billion, up from its previous range of $1.015 billion to $1.035 billion; and gross margin to be in a range of approximately 43% to 44% of revenues, revised from its previous range of 41% to 44%. In addition, net cash consumption is now expected to be approximately $260 million to $280 million, down from its previous range of $300 million to $325 million.