Natera, Inc.
NTRAUSNatera, Inc. is a diagnostics company focused on developing and commercializing a wide array of molecular testing services globally. Its portfolio includes several key offerings: Panorama, a non-invasive prenatal test (NIPT) that screens for chromosomal abnormalities in a fetus using a blood sample from the mother, and also determines zygosity in twin pregnancies. Vistara, designed to identify single-gene disorders by screening for specific single-gene mutations. Horizon, a comprehensive carrier screening test to determine an individual's carrier status for various genetic diseases. Spectrum, utilized during in vitro fertilization (IVF) cycles to detect chromosomal anomalies or inherited genetic conditions. Anora, a miscarriage analysis product that examines fetal chromosomes to help understand the cause of pregnancy loss. Non-invasive paternity testing, which establishes paternity during gestation using blood samples from both the pregnant mother and the alleged father. Beyond reproductive health, Natera also provides specialized tests: Signatera, a sophisticated circulating tumor DNA (ctDNA) technology capable of screening for a generic set of mutations, independent of the individual's specific tumor characteristics. Prospera, a test used to assess and monitor organ transplant rejection. Additionally, the company offers Constellation, a cloud-based software platform that provides laboratory clients with access to Natera's proprietary algorithms and bioinformatics, enabling them to validate and launch their own tests. Natera distributes its products through a direct sales team and an extensive network of approximately 100 laboratory and distribution partners. The company has strategic partnerships, including one with BGI Genomics Co., Ltd. for the development, manufacturing, and commercialization of NGS-based genetic testing assays, and another with Foundation Medicine, Inc. to develop and commercialize personalized circulating tumor DNA monitoring assays. Founded in 2003, Natera, Inc. is headquartered in Austin, Texas. It was formerly known as Gene Security Network, Inc. before changing its name in 2012.
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- Sector
- Healthcare Services
- Sub-sector
- Diagnostics & Clinical Services
- Listing
- NTRA
- Country
- US
Annual financials & analyst forecasts
| $M | CY2021 | CY2022 | CY2023 | CY2024 | CY2025 | CY2026E | CY2027E |
|---|---|---|---|---|---|---|---|
| Revenue YoY | — | 31% | 32% | 57% | 36% | 21% | 19% |
| Revenue | $625M | $820M | $1.08B | $1.70B | $2.31B | $2.80B | $3.33B |
| Gross Profit | $307M | $364M | $493M | $1.02B | $1.50B | — | — |
| Gross Profit Margin | 49.1% | 44.4% | 45.5% | 60.3% | 64.8% | — | — |
| EBITDA | ($443M) | ($507M) | ($383M) | ($144M) | ($215M) | ($1.05B) | ($1.25B) |
| EBITDA Margin | -70.9% | -61.8% | -35.4% | -8.5% | -9.3% | -37.5% | -37.5% |
| EBIT | ($468M) | ($541M) | ($446M) | ($222M) | ($310M) | ($1.12B) | ($1.33B) |
| Net Income | ($472M) | ($548M) | ($435M) | ($190M) | ($208M) | ($232M) | ($26M) |
| Free Cash Flow | ($376M) | ($479M) | ($286M) | $69M | $97M | — | — |
| FCF Margin | -60.2% | -58.4% | -26.4% | 4.1% | 4.2% | — | — |
| Short-Term Debt | $50M | $80M | $80M | $80M | $80M | — | — |
| Long-Term Debt | $280M | $282M | $283M | $0M | $0M | — | — |
| Cash & Cash Equivalents | $84M | $466M | $642M | $946M | $1.08B | — | — |
| Net Debt | $246M | ($104M) | ($279M) | ($865M) | ($996M) | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Rule of 40 | — | -27.3% | 5.6% | 60.8% | 40.1% | — | — |