What is Natera's latest dividend and current dividend yield?

What is the market's earnings forecast for Natera next quarter?

What were the key takeaways from Natera's earnings call?

Did Natera beat or miss consensus estimates last quarter?

What does Natera do and what are its main business segments?

What is Natera's gross profit margin?

What is the revenue and EPS growth rate for Natera year over year?

What guidance did Natera's management provide for the next earnings period?

- **Revenue Surges 35% YoY**: Q3 2025 revenue of $592 million, driven by 21,500 Signatera growth units and expanded Fetal Focus NIPT to 20 genes.
- **Gross Margin at 64.9%**: Sequential improvement of 1.5 percentage points, fueled by ASP gains and COGS efficiencies.
- **Clinical Trial Breakthrough**: Signatera shows 41% survival improvement in bladder cancer, published in NEJM.
- **Free Cash Flow Guidance**: >$100 million for 2025, with cash collections DSO at 49 days.
- **2026 Growth Path**: 10% OpEx growth, focused on R&D and clinical trials.
- **Reimbursement Expansion**: 7 new MolDX submissions in pipeline, targeting $250-$300 million in gross profit.
- **Early Detection Momentum**: PROCEED-CRC sensitivity 22.5%, FIND-CRC trial enrollment begins.
- **Market Share Expansion**: Signatera ASPs at $1,200, with biomarker state reimbursement driving ASP increases.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue reached $592 million, up 35% year-over-year, driven by strong performance across all product lines, including a record 21,500 Signatera growth units.
- **Gross Margin Expansion**: Gross margin improved to 64.9%, up 1.5 percentage points from Q2, with COGS efficiencies and ASP improvements contributing to the increase.
- **Product Launches**: Expanded Fetal Focus NIPT to 20 genes, enhancing carrier screening for 20 inherited conditions. Signatera ASPs reached $1,200, reflecting successful biomarker state reimbursement efforts.
- **Clinical Trial Momentum**: Presented Level 1A evidence at ESMO for Signatera in bladder cancer, with data showing 41% improvement in overall survival when used with immunotherapy.
- **Guidance Update**: Raised 2025 revenue guidance to $2.18-$2.26 billion, with gross margin expected to remain above 62%.

**【CFO Financial Commentary】**
- **Financial Performance**: GAAP net income of $420 million, with free cash flow generation expected to exceed $100 million for the year.
- **OpEx Management**: SG&A flat to down sequentially, with R&D investments focused on clinical trials and product launches.
- **Cash Position**: Ended the quarter with over $1 billion in cash, reflecting strong cash collections and DSO improvement to 49 days.
- **2026 Outlook**: Anticipate OpEx growth of ~10%, with a focus on R&D and clinical trials to support long-term growth.

**【Q&A Highlights】**
- **Reimbursement Progress**: Biomarker bills driving ASP increases, with 7 new MolDX submissions expected by year-end worth $250-$300 million in gross profit.
- **Early Detection Pipeline**: PROCEED-CRC study shows 22.5% sensitivity for advanced adenoma, with FIND-CRC trial enrollment underway.
- **Signatera Penetration**: Low single-digit market share in recurrence monitoring, with new patient starts at record levels.
- **Lung Cancer Strategy**: Exploring multi-cancer early detection, with focus on CRC first before expanding to other indications.

NTRA

NTRA fundamentals

You can ask Aime