NTRA on Nasdaq

Natera

Logo: natera.com4

American clinical genetic testing company

Natera, Inc. is a clinical genetic testing company based in Austin, Texas that specializes in non-invasive, cell-free DNA (cfDNA) testing technology, with a focus on women's health, cancer, and organ health.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

Jan 1, 2004Founded1

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  • TickerNTRA on Nasdaq1
  • IndustryServices-Medical Laboratories1
  • HeadquartersSan Carlos1
  • Websitewww.natera.com
  • Incorporated inDE5
  • Business address13011 Mccallen Pass, Building A Suite 100, Austin, Tx 787535
  • Filer categoryLarge accelerated filer5
Natera image from its website
Image: natera.com4

Natera, Inc. is a clinical genetic testing company based in Austin, Texas that specializes in non-invasive, cell-free DNA (cfDNA) testing technology, with a focus on women's health, cancer, and organ health. Natera's proprietary technology combines novel molecular biology techniques with a suite of bioinformatics software that allows detection down to a single molecule in a tube of blood. Natera operates CAP-accredited laboratories certified under the Clinical Laboratory Improvement Amendments (CLIA) in San Carlos, California and Austin, Texas.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-13.4%Operating margin7
-9.0%Net margin7
35.9%Revenue growth, 20257
-12.2%Return on equity7
$109.1MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 100% of the revenue Natera broke down this way in fiscal 2025.

  1. Product$2.3B7100%up 36% from 2024
  2. Licensing and other$10.3M70%down 13% from 2024
Products and services by year
Products and services202320242025
Product$1.1B$1.7B$2.3B
Licensing and other$14.0M$11.8M$10.3M

Regions

United States brought in 98% of the revenue Natera broke down this way in fiscal 2025.

  1. United States$2.3B798%up 37% from 2024
  2. Europe, Middle East, India, and Africa$24.5M71%up 2% from 2024
  3. Americas, excluding U.S.$9.4M70%up 41% from 2024
  4. Other Geographic Areas$8.0M70%down 7% from 2024
Regions by year
Regions202320242025
United States$1.0B$1.7B$2.3B
Europe, Middle East, India, and Africa$22.8M$23.9M$24.5M
Americas, excluding U.S.$4.9M$6.6M$9.4M
Other Geographic Areas$7.2M$8.7M$8.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development27¢$624.1M
  • Selling, general and admin51¢$1.2B
  • Other costs19¢$440.7M
  • Interest0¢$4.1M
  • Income tax3¢$59.9M

Out of $2.3B in revenue.7 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending49¢$106.2M
  • Kept or used elsewhere51¢$109.1M

Out of $215.3M of cash from operations.7

Financial statements

Revenue8910117$2.3B in 2025+663% since 2019
0$1.0B$2.0B$3.0B2019: $302.3M$302.3M20192020: $391.0M$391.0M2020+29%2021: $625.5M$625.5M2021+60%2022: $820.2M$820.2M2022+31%2023: $1.1B$1.1B2023+32%2024: $1.7B$1.7B2024+57%2025: $2.3B$2.3B2025+36%
Operating income8910117-$309.9M in 2025+167% since 2019
-$600.0M-$400.0M-$200.0M02019: -$116.3M-$116.3M20192020: -$216.3M-$216.3M2020+86%2021: -$468.2M-$468.2M2021+116%2022: -$541.0M-$541.0M2022+16%2023: -$446.2M-$446.2M2023−18%2024: -$222.3M-$222.3M2024−50%2025: -$309.9M-$309.9M2025+39%
Net income8910117-$208.2M in 2025+67% since 2019
-$600.0M-$400.0M-$200.0M02019: -$124.8M-$124.8M20192020: -$229.7M-$229.7M2020+84%2021: -$471.7M-$471.7M2021+105%2022: -$547.8M-$547.8M2022+16%2023: -$434.8M-$434.8M2023−21%2024: -$190.4M-$190.4M2024−56%2025: -$208.2M-$208.2M2025+9%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Total revenues$2.3B$1.7B$1.1B
Research and development$624.1M$404.1M$320.7M
Selling, general and administrative$1.2B$841.3M$618.3M
Amortization of acquired intangible assets$1.7M
Total cost and expenses$2.6B$1.9B$1.5B
Loss from operations-$309.9M-$222.3M-$446.2M
Interest expense-$4.1M-$10.7M-$12.6M
Interest and other income, net$45.9M$43.2M$24.4M
Loss before income taxes-$268.1M-$189.7M-$434.5M
Income tax benefit (expense)$59.9M-$695.0K-$271.0K
Net loss-$208.2M-$190.4M-$434.8M
Unrealized gain on available-for-sale securities and foreign currency translation adjustment$86.0K$2.7M$13.3M
Comprehensive loss-$208.1M-$187.7M-$421.5M
Basic (in dollars per share)-$1.52-$1.53-$3.78
Diluted (in dollars per share)-$1.52-$1.53-$3.78
Basic (in shares)136.7M shares124.7M shares115.0M shares
Diluted (in shares)136.7M shares124.7M shares115.0M shares

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The story

Natera (previously Gene Security Network) was founded by Matthew Rabinowitz and Jonathan Sheena in 2004. Natera launched its first product, the Spectrum preimplantation genetic test, in 2009.

In 2010, the company introduced the Anora miscarriage (POC) test. Natera's advanced carrier screening test, Horizon, launched in 2012. The following year, 2013, Natera launched the Panorama non-invasive prenatal test (NIPT).

In July 2015, Natera conducted an initial public offering of common stock at a price of $18.00 per share. The shares trade on the Nasdaq Global Select Market under the symbol "NTRA."

In 2017, Natera launched the Vistara single-gene NIPT. That same year, Natera introduced the Signatera molecular residual disease (MRD) test for research use only. The Signatera CLIA test was introduced for clinical use in 2019.

In 2018 Natera paid a $11 million fine to the department over allegations of improper billing and sales of Panorama to federal Healthcare services between the years of 2013 to 2016.

Natera launched the Prospera dd-cfDNA transplant assessment test in 2019, and the Renasight kidney gene panel and the Empower hereditary cancer test in 2020.

As of May 2021, Natera has performed over 3 million cell-free DNA tests. Natera's technology has also been written about in over 200 peer-reviewed journals and publications, including Nature, Science Magazine, and the Journal of Clinical Oncology.

From Wikipedia’s article on Natera, shared under CC BY-SA 4.0.6

Leadership

Who has led Natera, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (17)

Products and brands

Women's health

The Panorama NIPT is the only single-nucleotide polymorphism (SNP)-based NIPT. The test analyzes fetal DNA found in the mother's blood to reveal a baby's risk for genetic disorders such as Down syndrome (trisomy 21) and Edwards syndrome (trisomy 18) as early as nine weeks. Panorama also tests for unique microdeletions and is the only test that can detect zygosity and fetal sex in twins.

Natera also offers Horizon, a carrier-screening test that uses next-generation sequencing to provide carrier status for up to 274 genetic conditions. Additionally, Natera offers the Anora products of conception (POC) miscarriage test, the Spectrum preimplantation genetic screening and diagnosis test, and the Vistara single-gene prenatal screening test. In 2020, Natera launched Empower, a hereditary cancer test that screens for up to 53 genes associated with increased risk for common hereditary cancers.

Oncology

Signatera is the first circulating tumor DNA (ctDNA) assay built for molecular residual disease (MRD) detection and cancer recurrence monitoring. In 2020, Signatera received the CE Mark, as well as final Medicare coverage in stage II-III colorectal cancer and draft coverage in immunotherapy response monitoring. Signatera has been clinically validated to detect colorectal cancer recurrence up to 16.5 months in advance of radiologic imaging and early-stage breast cancer up to two years earlier than imaging.

Organ health

The Prospera test is the first assay with high sensitivity to both T-cell-mediated and antibody-mediated rejection. In December 2019, the test received final Medicare coverage. In 2020, Natera launched Renasight, a test to determine if there is a genetic cause for an individual's kidney disease and if there may be other at-risk relatives.

Read the full text

Constellation

Natera offers a cloud-based bioinformatics platform called Constellation, allowing laboratories to access and use Natera's technology in their own facilities. Constellation is currently only available outside of the United States.

From Wikipedia’s article on Natera, shared under CC BY-SA 4.0.6

Former names

  • Natera, Inc.May 14, 2014 to Oct 9, 20265

Timeline

  1. Jan 15, 2019New chief executive Steven Leonard Chapman becomes CEO15
  2. Dec 31, 2015New chief executive Matthew Rabinowitz becomes CEO16
  3. Jul 2, 2015Went public Listed on NASDAQ1
  4. Jan 1, 2004Founded Founded1

Filings

1,100 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 45 major events, 762 insider forms, 28 large holders, 245 other. The latest 20:

  1. Oct 15, 2026144 EDGAR
  2. Oct 9, 20264 EDGAR
  3. Oct 2, 20264 EDGAR
  4. Oct 2, 20264 EDGAR
  5. Oct 1, 2026144 EDGAR
  6. Oct 1, 2026144 EDGAR
  7. Sep 25, 20264 EDGAR
  8. Sep 23, 2026144 EDGAR
  9. Sep 18, 20264 EDGAR
  10. Sep 17, 20264 EDGAR
  11. Sep 16, 20264 EDGAR
  12. Sep 15, 2026144 EDGAR
  13. Sep 11, 2026144 EDGAR
  14. Sep 11, 20264 EDGAR
  15. Sep 3, 20264 EDGAR
  16. Sep 3, 20264 EDGAR
  17. Sep 2, 2026144 EDGAR
  18. Sep 1, 2026144 EDGAR
  19. Sep 1, 2026144 EDGAR
  20. Aug 28, 20264 EDGAR

The 1,100 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 28 such filings since October 2021, the latest 10:

  1. Aug 14, 2026SCHEDULE 13G/A
  2. Apr 30, 2026SCHEDULE 13G
  3. Mar 27, 2026SCHEDULE 13G/A
  4. Feb 17, 2026SCHEDULE 13G/A
  5. Jan 23, 2026SCHEDULE 13G/A
  6. Aug 14, 2025SCHEDULE 13G/A
  7. Jul 22, 2025SCHEDULE 13G/A
  8. May 14, 2025SCHEDULE 13G/A
  9. Feb 14, 2025SCHEDULE 13G
  10. Feb 10, 2025SCHEDULE 13G

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Jpmorgan Chase & Co12,865,346$3.5B0.2%−521,321
BlackRock, Inc.10,914,608$3.0B0.0%+237,270
Vanguard Capital Management LLC6,228,216$1.7B0.0%+219,720
Vanguard Portfolio Management LLC5,782,640$1.6B0.1%+137,945
Fmr LLC5,451,396$1.5B0.1%+2,897,142
Wellington Management Group Llp4,040,738$1.1B0.2%−727,855
State Street Corp3,655,618$992.3M0.0%+238,146
Geode Capital Management, LLC2,750,013$744.6M0.0%−25,915
Franklin Resources Inc2,725,903$739.9M0.2%+240,578
Castle Hook Partners LP2,596,276$704.8M7.6%+66,466
Coatue Management LLC2,505,090$680.0M1.4%−36,752
Aqr Capital Management LLC2,344,570$628.1M0.2%+70,579
Farallon Capital Management, L.l.c.2,218,366$602.2M3.6%−989,000
Massachusetts Financial Services Co /ma/1,971,391$535.1M0.2%−68,715
Norges Bank1,828,122$496.2M0.0%New
Fred Alger Management, LLC1,778,009$482.6M1.6%+21,537
Goldman Sachs Group Inc1,720,152$466.9M0.0%+952,921
Sofinnova Investments, Inc.1,550,280$420.8M22.5%No change
Capital World Investors1,504,387$408.4M0.0%+36,412
Arrowstreet Capital, Limited Partnership1,503,706$408.2M0.2%+311,974
Maverick Capital Ltd1,356,663$368.3M3.3%+185,030
D. E. Shaw & Co., Inc.1,279,255$347.3M0.2%+787,919
Morgan Stanley1,274,287$345.9M0.0%−80,048
Federated Hermes, Inc.1,138,968$309.2M0.4%+48,938
Clearbridge Investments, LLC1,018,325$276.4M0.2%+125,003

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

7 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Sep 22, 2025Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+110.2%Report
Aug 22, 2025Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+124.8%Report
Jul 22, 2025Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000−166.6%Report
Nov 20, 2024Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000+110.4%Report
Apr 10, 2023Daniel S. GoldmanDemocratic, HousePartial sale$1,001 - $15,000−598.0%Report
Mar 6, 2023Daniel S. GoldmanDemocratic, HouseBuy$1,001 - $15,000+522.7%Report
Apr 20, 2021Bill HagertyRepublican, SenatePartial sale$1,001 - $15,000−201.7%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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