Natera Q1 revenue surges 38.8% to $696.6M on oncology strength; net loss widens to -$85.1M

Filed May 8, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 9, 2025 · ~2 min read

Key Changes

• high

  Total revenue grew 38.8% YoY to $696.6M driven by 54.4% surge in oncology test volumes (Signatera) to 258,900 units and continued strength in Panorama and Horizon prenatal/carrier screening tests.

  MD&A: Revenue & Test Volumes verify on EDGAR →
• high

  Net loss widened 27.1% to $85.1M from $66.9M as R&D spending jumped 63.2% to $210.7M (clinical trials, headcount expansion) and SG&A rose 22.9% to $327.9M; stock-based comp increased $16.0M to $95.1M.

  MD&A: Operating Expenses verify on EDGAR →
• high

  Operating cash flow declined to $40.2M from $44.5M despite revenue growth, reflecting larger net loss and higher working capital needs partially offset by increased non-cash charges.

  MD&A: Cash Flows verify on EDGAR →