Loading...
•
Sep 30, 2025
Natera Q3 2025 Earnings Report
Natera reported its financial results for the third quarter ended September 30, 2025.
Key Takeaways
Natera delivered excellent results in the third quarter of 2025, with total revenues increasing by 34.7% year-over-year to $592.2 million, primarily driven by a significant increase in product revenues and test volumes. Despite increased operating expenses, the company maintained a strong gross margin and ended the quarter with over $1 billion in cash and equivalents.
Total revenues for Q3 2025 reached $592.2 million, a 34.7% increase from $439.8 million in Q3 2024.
Product revenues grew by 35.3% to $590.2 million in Q3 2025, compared to $436.1 million in the prior year.
Natera processed approximately 893,600 tests in Q3 2025, an increase of 15.2% from 775,800 tests in Q3 2024.
The company reported a net loss of $87.5 million, or ($0.64) per diluted share, in Q3 2025, compared to a net loss of $31.6 million, or ($0.26) per diluted share, in Q3 2024.
Revenue by Segment
Forward Guidance
Natera anticipates 2025 total revenue to be between $2.18 billion and $2.26 billion, with a gross margin of approximately 62% to 64%. The company expects net cash inflow of approximately $100 million.
Positive Outlook
- Anticipated total revenue for 2025 is strong, ranging from $2.18 billion to $2.26 billion.
- Gross margin is projected to remain healthy at approximately 62% to 64% of revenues.
- Expected net cash inflow of approximately $100 million for 2025 indicates positive cash generation.
- Continued innovation across the portfolio, including successful read-outs for Signatera™ and positive results for early cancer detection.
- Expanded panel for Fetal Focus™ single-gene noninvasive prenatal test.
Challenges Ahead
- Selling, general and administrative costs are projected to be substantial, between $1.08 billion and $1.18 billion.
- Research and development costs are also significant, estimated at $575 million to $625 million.
- The company faces numerous uncertainties and challenges in achieving its financial projections and goals.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...