Natera, Inc. income statement & cash flow
In the fiscal year ended Dec 31, 2025, Natera, Inc. reported net income of −$208.16M on revenue of $2.31B. Operating cash flow was $215.30M and capital expenditures were $106.19M, leaving $109.11M of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $217.07M | $210.94M | $257.65M | $302.33M | $391.00M | $625.49M | $820.22M | $1.08B | $1.70B | $2.31B |
| Operating income | −$101.05M | −$135.34M | −$114.63M | −$116.29M | −$216.28M | −$468.17M | −$541.04M | −$446.25M | −$222.29M | −$309.91M |
| Net income | −$100.33M | −$137.63M | −$128.15M | −$124.83M | −$229.74M | −$471.72M | −$547.80M | −$434.80M | −$190.43M | −$208.16M |
| Diluted EPS | −$1.95 | −$2.59 | −$2.22 | −$1.79 | −$2.84 | −$5.21 | −$5.57 | −$3.78 | −$1.53 | −$1.52 |
| Operating cash flow | −$74.05M | −$97.83M | −$70.58M | −$63.44M | −$182.51M | −$335.24M | −$431.50M | −$246.96M | $135.66M | $215.30M |
| Capital expenditures | $23.14M | $9.87M | $3.88M | $4.97M | $19.60M | $41.03M | $47.70M | $39.20M | $66.42M | $106.19M |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | — | -13.4% | -9.0% |
| Dec 2024 | — | -13.1% | -11.2% |
| Dec 2023 | — | -41.2% | -40.2% |
| Dec 2022 | — | -66.0% | -66.8% |
| Dec 2021 | — | -74.8% | -75.4% |
Source: SEC EDGAR XBRL company facts for CIK 1604821 (raw data). Most recent filing in this dataset: 10-Q filed Aug 7, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.