NTRA

EX-99.1

2 ntra-20260331xex991.htm

EX-99.1

Document

Exhibit 99.1

Natera Reports First Quarter 2026 Financial Results

AUSTIN, Texas, May 7, 2026 /BUSINESS WIRE/ — Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA and genetic testing, today reported its financial results for the first quarter ended March 31, 2026.

Recent Financial Highlights

•Generated total revenues of $696.6 million in the first quarter of 2026, compared to $501.8 million in the first quarter of 2025, an increase of 38.8%.

•Generated a gross margin1 of 64.7% in the first quarter of 2026, compared to a gross margin1 of 63.1% in the first quarter of 2025.

•Processed approximately 1,013,600 tests in the first quarter of 2026, compared to approximately 855,100 tests in the first quarter of 2025, an increase of 18.5%. Women’s Health generated the second highest quarterly unit growth since 2019 and Oncology delivered another record quarter for volume growth.

•Processed approximately 258,900 oncology tests in the first quarter of 2026, compared to approximately 167,700 in the first quarter of 2025, an increase of 54.4%.

•Achieved positive cash inflow of approximately $11.8 million2 in the first quarter of 2026.

•Raising 2026 annual revenue guidance by $120 million at the midpoint, from $2.62 billion - $2.70 billion to $2.74 billion - $2.82 billion.

“We had an outstanding first quarter, reaching over one million units processed in a single quarter for the first time and delivering strong growth across all areas,” said Steve Chapman, chief executive officer of Natera. “We are seeing the impact of strong 2025 data readouts and innovation translating into increased adoption, particularly for Signatera™ and Fetal Focus™, reinforcing our confidence in the long-term opportunity to transform patient care.”

First Quarter Ended March 31, 2026 Financial Results

Total revenues were $696.6 million in the first quarter of 2026 compared to $501.8 million in the first quarter of 2025, an increase of 38.8%. The increase in revenues was driven by an increase in volume and average selling price improvements.

Natera processed approximately 1,013,600 tests in the first quarter of 2026, including approximately 999,200 tests accessioned in its laboratory, compared to approximately 855,100 tests processed, including approximately 840,800 tests accessioned in its laboratory, in the first quarter of 2025.

In the first quarter of 2026, Natera recognized revenue on approximately 931,600 tests for which results were reported to customers in the period (tests reported), including approximately 918,100 tests reported from its laboratory, compared to approximately 804,800 tests reported, including approximately 791,400 tests reported from its laboratory, in the first quarter of 2025, an increase of 15.8% from the prior period.

Gross profit2 for the three months ended March 31, 2026 and 2025 was $450.8 million and $316.8 million, respectively, representing a gross margin1 of 64.7% and 63.1%, respectively. Natera had higher gross margin1 in the first quarter of 2026 primarily as a result of higher revenues and continued progress in reducing cost of revenues associated with tests processed. Total operating expenses, representing research and development expenses and selling, general and administrative expenses, for the first quarter of 2026 was $538.6 million, compared to $395.9 million in the same period of the prior year, an increase of 36.0%. The increase was primarily driven by headcount growth to support new product offerings as well as increases in clinical trial expenses. Amortization of acquired intangible assets for the first quarter of 2026 was $5.7 million. No such amortization occurred in the first quarter of 2025.

Loss from operations for the first quarter of 2026 was $93.5 million compared to $79.2 million for the same period of the prior year.

Natera’s net loss for the first quarter of 2026 was $85.1 million, or ($0.60) per diluted share, compared to a net loss of $66.9 million, or ($0.50) per diluted share, in 2025. Weighted average shares outstanding were 141.5 million in the first quarter of 2026 compared to 134.8 million for the same period in the prior year.

At March 31, 2026, Natera held approximately $1,087.9 million in cash, cash equivalents, and restricted cash, compared to $1,076.1 million as of December 31, 2025. As of March 31, 2026, Natera had a total outstanding debt balance of $80.3 million including accrued interest under its line of credit with UBS at a variable interest rate of 30-day SOFR plus 50 bps.

Financial Outlook

Natera anticipates 2026 total revenue of $2.74 billion to $2.82 billion; 2026 gross margin1 to be approximately 64% to 66%; selling, general and administrative costs to be approximately $1.125 billion to $1.225 billion; research and development costs to be $800 million to $900 million; and net cash inflow to be positive3.

Test Volume Summary

Unit

QTD 2026

QTD 2025

Definition

Tests processed 1,013

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2026-02-26 2026-02-26

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 26, 2026

Natera, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-37478

01-0894487

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

13011 McCallen Pass

Building A Suite 100

Austin, TX 78753

(Address of principal executive offices, including zip code)

(650) 980 9190

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

NTRA

Nasdaq Stock Market LLC (Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition.

On February 26, 2026, Natera, Inc. issued a press release announcing the results for its fourth quarter and year ended December 31, 2025 and provided a related investor presentation. A copy of the press release and a copy of the investor presentation are furnished herewith as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

The information in this Current Report on Form 8-K and the accompanying Exhibit 99.1 and Exhibit 99.2 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

99.1

Press Release dated February 26, 2026.

99.2

Investor Presentation.

104

Cover Page Interactive Data File (formatted as inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Natera, Inc.

By: /s/ Michael Brophy

Michael Brophy

Chief Financial Officer (Principal Financial and Accounting Officer)

Dated: February 26, 2026

false 0001604821

0001604821

2026-01-11 2026-01-11

iso4217:USD

xbrli:shares

iso4217:USD

xbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 11, 2026

Natera, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-37478

01-0894487

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

13011 McCallen Pass

Building A Suite 100

Austin, TX 78753

(Address of principal executive offices, including zip code)

(650) 980-9190

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

NTRA

Nasdaq Stock Market LLC (Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition.

On January 11, 2026, Natera, Inc. (the “Company”) issued a press release announcing preliminary financial results for its fourth quarter and fiscal year ended December 31, 2025. A copy of the press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

The information in this Current Report on Form 8-K and the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

99.1

Press Release dated January 11, 2026.

104

Cover Page Interactive Data File (formatted as inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Natera, Inc.

By: /s/ Michael Brophy

Michael Brophy

Chief Financial Officer (Principal Financial and Accounting Officer)

Dated: January 12, 2026