Natera's 2024 Revenue Surge: A 56% Increase and Record Test Volumes
Sunday, Jan 12, 2025 7:27 pm ET
1min read Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA and genetic testing, has announced preliminary unaudited results for the fourth quarter and full year ended December 31, 2024. The company's strong performance is highlighted by a 56% increase in total revenues, reaching approximately $1.7 billion, and a record number of tests processed. These results will be presented at the 43rd Annual J.P. Morgan Healthcare Conference on January 15, 2025.
Natera's revenue growth in 2024 is significantly higher than its historical growth rates. In 2023, the company's revenue growth was approximately 30% compared to 2022. This acceleration in revenue growth can be attributed to several factors, including increased test volumes, average selling price improvements, and cash receipts collected during the quarter related to tests delivered in prior quarters.
The company processed a record number of tests in 2024, with approximately 3,064,600 tests processed compared to 2,496,100 tests in 2023, an increase of 22.8%. This includes a record quarter for the Company’s three flagship products: Panorama™, Prospera™, and Signatera™. The sequential increase of 14,800 clinical oncology tests in Q4 2024 over Q3 2024 suggests growing physician confidence in using Signatera for cancer monitoring and recurrence detection.
Natera's oncology test volumes saw substantial growth, with approximately 528,200 oncology tests processed in the full year 2024, marking a 54.9% increase over the same period in 2023. This growth is driven by the increasing adoption of the Signatera platform, which has seen strong market penetration. The company's ability to scale test processing while maintaining quality and improving operational efficiency has positioned it well for continued market leadership in genetic testing.
The company achieved positive cash inflows of approximately $86.3 million in the full year 2024, compared to cash outflows of $267.1 million in 2023. This dramatic turnaround in cash flow is a testament to Natera's focus on revenue growth, operational efficiency, and cash collection strategies. The company's positive cash inflows in 2024 indicate that it has successfully managed its financial resources, allowing it to invest in growth and expansion, including increased marketing and sales efforts to drive test volume growth.
Natera's strong performance in 2024 reflects its unwavering dedication to the patients it serves and the passion of its employees in each of its business areas. The company's growth in volumes, revenue, gross margin, and cash flow demonstrates its accelerating momentum and positions it well for continued success in the future. Investors should closely monitor Natera's progress as it continues to make personalized genetic testing and diagnostics part of the standard of care, protecting health and informing earlier, more targeted interventions that help lead to longer, healthier lives.
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