Natera(US:NTRA)2025-11-06 21:08Revenue Performance - Total revenues for Q3 2025 were $592.2 million, a 34.7% increase from $439.8 million in Q3 2024[3] - Product revenues increased by 35.3% to $590.2 million in Q3 2025, driven by higher volume and average selling price improvements[3] - Total revenues for the nine months ended September 30, 2025, were $1.64 billion, up 34.4% from $1.22 billion in the same period of 2024[26] Test Processing - Approximately 893,600 tests were processed in Q3 2025, representing a 15.2% increase from approximately 775,800 tests in Q3 2024[4] - The company processed approximately 211,000 oncology tests in Q3 2025, a 53.9% increase from approximately 137,100 in Q3 2024[7] Gross Margin and Expenses - Gross margin for Q3 2025 was 64.9%, up from 61.8% in Q3 2024, with gross margin amounting to $384.4 million[6] - Operating expenses for Q3 2025 were $482.0 million, a 54.9% increase from $311.1 million in Q3 2024, primarily due to salary and compensation expenditures[6] - Research and development expenses increased to $173.4 million in Q3 2025, compared to $96.9 million in Q3 2024, reflecting an increase of 79.3%[26] - Selling, general and administrative expenses rose to $308.5 million in Q3 2025, up 43.9% from $214.2 million in Q3 2024[26] - Total cost and expenses for Q3 2025 were $689.8 million, a 43.8% increase from $479.1 million in Q3 2024[26] Net Loss - Natera reported a net loss of $87.5 million in Q3 2025, compared to a net loss of $31.6 million in Q3 2024[8] - The net loss for Q3 2025 was $87.5 million, compared to a net loss of $31.6 million in Q3 2024, representing an increase in loss of 176.5%[26] - The comprehensive loss for the nine months ended September 30, 2025, was $255.3 million, compared to $134.3 million in the same period of 2024, indicating an increase of 90.0%[26] - Basic and diluted net loss per share for Q3 2025 was $0.64, compared to $0.26 in Q3 2024, reflecting a deterioration of 146.2%[26] Cash Position and Guidance - As of September 30, 2025, Natera held approximately $1,042.4 million in cash and cash equivalents, up from $968.3 million at the end of 2024[9] - Natera raised its 2025 annual revenue guidance by $160 million at the midpoint, now expecting $2.18 billion to $2.26 billion[7] - The anticipated gross margin for 2025 is approximately 62% to 64% of revenues, with selling, general and administrative costs projected at $1.08 billion to $1.18 billion[10] Share Information - The weighted-average number of shares used in computing basic and diluted net loss per share increased to 137.2 million in Q3 2025 from 123.8 million in Q3 2024[26] Interest Income - Interest and other income, net, for the nine months ended September 30, 2025, was $35.4 million, compared to $32.3 million in the same period of 2024, showing an increase of 9.6%[26]