# Natera, Inc. Common Stock (NTRA) — Stock CV

Natera, Inc. is a $57.8B healthcare company. Revenue grew 37.8% over the last year, it currently loses money, and it holds more cash than debt.

> Natera Inc is a diagnostic and research company with proprietary molecular and bioinformatics technology.

## Identity

- **Ticker**: NTRA
- **Sector**: Healthcare
- **Industry**: Services-Medical Laboratories
- **Headquarters**: AUSTIN, TX
- **Employees**: 6 140
- **Website**: https://www.natera.com
- **Market cap**: $57.8B
- **Last price**: $400.71
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $2.71B
- **Net income**: -$192M
- **Free cash flow**: $84.2M
- **Net cash**: $1.02B
- **Revenue growth (YoY)**: 37.8%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 25 |
| Growth | 25 |
| Profitability | 0 |
| Health | 50 |
| Quality | 33 |
| Moat | 20 |

## Qualifications (beginner checklist) — 4 of 9 passed

- [x] Revenue growing — +37.8% YoY
- [ ] Profitable — -$192M TTM
- [ ] Profit growing — -9.3% YoY
- [x] Generates cash — $84.2M TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $57.8B market cap
- [ ] Not printing shares — +96.6% shares over ~5y
- [ ] Proven track record — 0/10 profitable years
- [ ] Financially stable — health score 25/100

## Experience (career milestones)

- **FY2023** — Revenue crossed $1B: $1.08B for the year
- **2020** — Natera launched Renasight, a test to determine if there is a genetic cause for an individual's kidney…
- **FY2019** — Became debt-free: cash now exceeds total debt
- **2019** — Natera launched the Prospera dd-cfDNA transplant assessment test in 2019
- **2017** — The shares trade on the Nasdaq Global Select Market under the symbol "NTRA." In 2017, Natera launched the Vistara…
- **2015** — Natera conducted an initial public offering of common stock at a price of $18.00 per share
- **2013** — The following year, 2013, Natera launched the Panorama non-invasive prenatal test (NIPT)
- **2012** — Natera's advanced carrier screening test, Horizon, launched in 2012
- **2010** — The company introduced the Anora miscarriage (POC) test
- **2009** — Natera launched its first product, the Spectrum preimplantation genetic test, in 2009
- **2004** — Natera (previously Gene Security Network) was founded by Matthew Rabinowitz and Jonathan Sheena in 2004

## Strengths

- High gross margin (65.2%)
- Revenue growing 37.8% year over year
- Net cash position after subtracting debt from cash

## Watch-outs

- Not profitable — 7.1% net margin
- Thin interest coverage (-57.8×)
- Loss-making in 10 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $625M | -$472M | -$376M |
| FY2022 | $820M | -$548M | -$479M |
| FY2023 | $1.08B | -$435M | -$286M |
| FY2024 | $1.70B | -$190M | $69.2M |
| FY2025 | $2.31B | -$208M | $109M |

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Source: https://stockcv.com/NTRA — derived from company filings; may be delayed or incomplete. Information, not investment advice.