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Natera (NTRA) guidance and outlook
Natera (NTRA) raised its guidance on Nov 5, 2026: Revenue $3.0B for FY2026; Gross margin 64%–66% for FY2026. Natera's 10-Q filed Nov 5, 2026 makes 12 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | $3.0B | raised |
| Gross margin | FY2026 | 64%–66% | reaffirmed |
From the earnings release filed Nov 5, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 5, 2026
- We aim to make personalized genetic testing and diagnostics part of the standard of care to protect health and inform earlier and provide more targeted interventions that help lead to longer, healthier lives.
- In order to gain broader guideline inclusion, we will need to continue to publish positive clinical trial results in a wide array of cancer types.
- We expect cost of product revenues to increase as the number of tests we perform increases.
- We consider our cost of licensing and other revenues for the Constellation software platform to be relatively low, and therefore we expect its associated gross margin is higher.
- We expect our cost of licensing will increase in relation to volume growth.
- We expect our research and development expenses to increase in absolute dollars as we continue to invest in research and development activities related to developing enhanced and new products.
- For the nine months ended September 30, 2026, we had a net loss of $212.0 million, and we expect to continue to incur net losses in future periods as we continue to devote a substantial portion of our resources to our research and development and commercialization efforts for our existing and new products.
- We expect to develop and commercialize future products and continue to invest in the growth of our business, and consequently, we will need to generate additional revenues to achieve future profitability and may need to raise additional equity or incur additional debt.
- As our operations have expanded, including increased testing volumes, additional third-party vendors, and higher headcount, corresponding increases in operating cash outflows have occurred and are expected to continue.
- We expect to continue to invest heavily in research and development activities.
- As discussed in Note 4, Re venue Recognition , during the nine months ended September 30, 2026, we also recognized $145.6 million, as compared to $134.7 million for the nine months ended September 30, 2025, related to favorable changes in estimate that increased revenue for tests delivered in prior periods that were deemed probable that a significant reversal in the amount of cumulative revenue recognized will…
- To the extent we record a change in estimate that increases revenue for tests delivered in prior periods that were deemed probable that a significant reversal in the amount of cumulative revenue recognized will not occur , we expect to continue reinvesting into future clinical trials, research and development.
Natera's latest quarter
Natera, Q3 2026: revenue $794M (+34% year over year), operating margin -8.6%, net loss $59.9M, operating cash flow $43.9M. The chart follows the revenue to costs, profit and cash.
Questions
Did Natera raise or lower its guidance?
Natera (NTRA) raised its guidance on Nov 5, 2026: Revenue $3.0B for FY2026; Gross margin 64%–66% for FY2026.
What does Natera expect?
We aim to make personalized genetic testing and diagnostics part of the standard of care to protect health and inform earlier and provide more targeted interventions that help lead to longer, healthier lives. In order to gain broader guideline inclusion, we will need to continue to publish positive clinical trial results in a wide array of cancer types. We expect cost of product revenues to increase as the number of tests we perform increases.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.