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Natera (NTRA)
NASDAQ:NTRA
Earnings Data
Report Date
May 07, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.53Last Year’s EPS
-0.5Same Quarter Last Year
Strong Buy
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong set of operational and financial achievements: record testing volumes, robust 40% YoY revenue growth, materially improved gross margins (66.9% reported; 63.7% organic), improved collections (DSO down to 47 days), >$107M cash flow for 2025, and a clear product and clinical momentum (Signatera, Latitude submission, phased variants, Fetal Focus, Prospera trials). Management provided confident 2026 guidance (revenue $2.62B–$2.7B; gross margin 63%–65%) while acknowledging a few nonrecurring Q4 tailwinds and the ongoing dependency on reimbursement expansion for further ASP/margin upside. Risks called out include one-time accounting benefits, potential non-repeatability of some Q4 drivers, and the need for broader MolDX/Medicare coverage for a subset of indications. Overall, the positives (strong growth, margin expansion, cash generation, major product/technology advances and clinical evidence) substantially outweigh the identified risks and caveats.Company Guidance
Strong Volume and MRD Adoption
Processed ~924,000 tests in Q4 2025; record MRD clinical unit volume with 225,000 MRD tests in Q4. MRD clinical units grew ~56% year-over-year, and internal data estimates >50% of U.S. oncologists ordered a Signatera test in the quarter.
Robust Revenue Growth
Quarterly revenue of ~$666 million, approximately $6 million ahead of the January preannouncement and ~40% year-over-year revenue growth.
Record Gross Margin and Organic Margin Expansion
Reported gross margin of 66.9% in Q4; after removing revenue true-ups (~3% benefit), organic gross margin was 63.7%. Organic COGS efficiencies drove a sequential organic margin step-up of ~240 basis points versus Q3.
Strong Cash Generation and Balance Sheet
Generated over $107 million in cash flow in 2025 while increasing growth investments; ended with a strong balance sheet with >$1 billion in cash and securities.
Improved Working Capital / Collections
$60 million of revenue true-ups in Q4 consistent with preannouncement and DSO improved to 47 days versus 68 days in Q4 2024, reflecting accelerated cash collections and revenue cycle improvements.
2026 Financial Guidance with Continued Margin Focus
Initial 2026 guidance: revenue $2.62B–$2.70B (midpoint implying ~25% growth ex-true-ups relative to 2025), gross margin guidance 63%–65%, OpEx growth targeted ~9.5% at the midpoint with SG&A roughly stable and continued targeted R&D investments.
Product & Clinical Milestones — Tissue-Free MRD (Latitude) Submission
Submitted Latitude, a tissue-free MRD assay, to MolDX in colorectal cancer. GALAXY validation: hazard ratio 10 post-surgery and 31.9 in post-treatment surveillance; 84% longitudinal sensitivity, 97% sample-level specificity, and a 4.6-month median lead time ahead of imaging.
Technology Leap — Phased Variant Integration
Acquired and integrated phased variant technology (from Foresight). Analytically LOD95 ≈ 3 parts per 10 million and detection below 1 per 10 million; claimed 10–100x improved detection thresholds vs conventional approaches, expected to launch clinically this year and strengthen MRD sensitivity and pharma service offerings.
Significant Clinical & Publication Momentum
Multiple high-impact publications and conference milestones: IMvigor011 publication in NEJM; Fetal Focus EXPAND trial selected as an oral plenary at SMFM; strong set of bladder and head & neck MRD interventional data (e.g., SYNERGY trial showing 63% ORR and reduced high-grade toxicity).
Women's Health and Organ Health Progress
Launched 21-gene Fetal Focus single-gene NIPT (sensitivity 96%, specificity 98%) and reported meaningful new OB/GYN and MFM account traction. Organ health: Prospera enrollment completed for ACES-EMB (>300 patients) with readout mid-2027; lung study showed clinicians forgone 9-month surveillance biopsy in ~75% of patients without worse outcomes.
Signatera ASP and Pricing Momentum
Signatera average selling price (ASP) ~ $1,225 in Q4; Q4 saw ~ $20 uplift in ASP with guidance embedding roughly another $30 of ASP improvement over the near term (company previously expected an incremental $50 over time).
NTRA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NTRA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $216.10 | ― | ― |
Nov 06, 2025 | $198.48 | $199.57 | +0.55% |
Aug 07, 2025 | $141.08 | $151.95 | +7.70% |
May 08, 2025 | $162.57 | $151.95 | -6.53% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Natera (NTRA) report earnings?
Natera (NTRA) is schdueled to report earning on May 07, 2026, After Close (Confirmed).
What is Natera (NTRA) earnings time?
Natera (NTRA) earnings time is at May 07, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NTRA EPS forecast?
NTRA EPS forecast for the fiscal quarter 2026 (Q1) is -0.53.