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Natera Inc
Investor Relations

Natera is a genetic testing company that analyzes DNA from blood, saliva, or tissue samples to help doctors make medical decisions. Its main products are tests for prenatal screening, hereditary cancer risk, and transplant monitoring, along with tests that help guide care for people with certain cancers. The company sells these tests to hospitals, doctors, cancer centers, and specialty clinics, and it makes money when those tests are ordered and processed. The company’s business is built around running complex laboratory tests and turning genetic data into clear reports that physicians can use. In prenatal care, its tests help assess the risk of chromosomal conditions in a pregnancy. In oncology and hereditary disease, its tests can show whether a patient has inherited risk markers or whether cancer treatment may be working. In transplant care, its tests can help detect early signs that a transplanted organ may be under stress. What makes Natera different is that it sits in the middle of the healthcare value chain as both a lab operator and a specialist in clinical genetics. It does not just sell a device or a one-time product; it sells recurring testing services that depend on physician orders, insurance reimbursement, and medical need. That makes Natera more like a diagnostic service business than a traditional drug or medical device company.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
May 7, 2026
AI Summary
Q1 2026

Revenue: Natera reported Q1 revenue of $697 million, up 39% year over year, and said the quarter was its first to deliver 1 million units in a single quarter.

Guidance: Management raised full-year revenue guidance by more than $120 million and increased gross margin guidance to 65% at the midpoint.

Women's health: Core women’s health was exceptionally strong, helped by the launch of Fetal Focus, which is now approaching a run rate of nearly 200,000 orders.

Oncology: Clinical oncology units reached 249,000, up 55% year over year, with Signatera ASPs rising to roughly $1,250 and record MRD volumes.

Margin setup: Gross margin came in just under 65%, but management said about 2 percentage points of pressure was temporary and tied to timing and work-in-process.

Growth drivers: Management highlighted better reimbursement, payer pricing gains, new clinical data, an expanding sales force, and strong adoption in both surveillance and new use cases.

Pipeline: The company said FIND CRC enrollment is ahead of plan and should finish in Q3 2026, while Japan approval remains on track for Q2 2026.

Key Financials
Revenue
$697 million
Clinical oncology units
249,000
Gross margin
just under 65%
Signatera ASP
roughly $1,250
Fetal Focus orders
nearly 200,000 run rate
Revenue guide
more than $120 million increase
R&D guide
$50 million increase
Work in process recognition ratio
about 92%
Signatera annual run rate
over 1 million tests annually
ASCO abstracts
35 abstracts
Breast cancer publications and presentations
22 peer-reviewed publications and 84 presentations
Breast cancer trial investment
over $250 million
FIND CRC enrollment
25,000 to 40,000 average risk adults target
FIND CRC cases
about 70 CRC cases and roughly 1,400 advanced adenomas
Japan CRC TAM
similar absolute number of colorectal cancer diagnoses as the United States
ALPHA3 MRD clearance
58% in the treatment arm vs. 17% in the observation arm
ALPHA3 ctDNA change
median ctDNA levels decreased 98% in the treatment arm and increased 27% in the observation arm
IMvigor011 persistently MRD-negative patients
47%
IMvigor011 2-year overall survival
97%
Adjuvant immunotherapy cost
around $196,000 per year
Earnings Call Recording
Other Earnings Calls

Management

Mr. Michael B. Brophy M.B.A.
Chief Financial Officer
No Bio Available
Mr. John Fesko
President & Chief Business Officer
No Bio Available
Ms. Olesya A. Anisimova CPA
Chief Accounting Officer
No Bio Available
Mr. Rishi Kacker
Chief Technology Officer
No Bio Available
Mr. Eric A. Evans
Chief Scientific Officer
No Bio Available
Mr. Jerry Diffley
Chief Compliance & Privacy Officer
No Bio Available
Mr. Phil Grinnell
Vice President of Sales
No Bio Available
Mr. Solomon Moshkevich M.B.A.
President of Clinical Diagnostics
No Bio Available
Dr. Alexey Aleshin M.B.A., M.D.
GM of Oncology and ECD & Chief Medical Officer
No Bio Available
Ms. Sheetal Parmar
SVP of Medical Affairs of Women's Health
No Bio Available

Contacts

Address
TEXAS
Austin
13011 Mccallen Pass, Building A Suite 100
Contacts
+16502499090.0
www.natera.com
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