Natera stock faces higher growth costs after Q3 revenue jump
Published on 11/10/2026 at 13:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSQuarterly growth reshapes Natera outlook
- Test volumes increased 22.3 percent year over year, while oncology testing grew 60.9 percent.
- Natera raised its 2026 revenue outlook to 3.005 billion to 3.035 billion US dollars.
- Higher research, development and commercial spending continues to weigh on operating profitability.
Natera reported strong third-quarter growth on Thursday, November 5, 2026, and raised its full-year revenue outlook. The company said in its financial release that revenue reached 794.0 million US dollars in the quarter ended September 30, compared with 592.2 million US dollars a year earlier. Natera stock traded at 288.00 euros on Lang & Schwarz at 13:41 CET on Tuesday, November 10, 2026.
Testing volumes drive quarterly expansion
Natera processed 1,093,100 tests in the quarter, up 22.3 percent from 893,600 tests in the same period of 2025. Oncology testing was the strongest volume driver: the company processed 339,500 oncology tests, an increase of 60.9 percent year over year. Clinical molecular residual disease testing also advanced, with units rising by 32,700 from the second quarter.
The revenue increase reflected higher testing volumes and improvements in average selling prices. Gross margin was 64.7 percent, compared with 64.9 percent in the prior-year quarter. Natera said operating expenses rose to 576.1 million US dollars from 482.0 million US dollars, mainly because of headcount growth for new products and higher clinical trial costs.
Raised outlook keeps execution in focus
Natera now expects 2026 revenue of 3.005 billion to 3.035 billion US dollars, up from its previous range of 2.850 billion to 2.910 billion US dollars. The midpoint increase is 140 million US dollars. The company retained its gross-margin outlook of approximately 64 percent to 66 percent and expects positive cash flow for the year.
The outlook calls for selling, general and administrative costs of 1.225 billion to 1.300 billion US dollars and research and development spending of 825 million to 925 million US dollars. These ranges show that Natera is continuing to invest in product development, clinical work and commercial capacity as demand expands. For investors, the central execution question is whether volume growth can outpace the increase in operating costs.
Loss narrows as investment remains high
Natera's net loss narrowed to 59.9 million US dollars, or 0.42 US dollars per diluted share, from 87.5 million US dollars, or 0.64 US dollars per share, in the third quarter of 2025. The operating loss was 68.3 million US dollars, compared with 97.6 million US dollars a year earlier.
The company held 1.097 billion US dollars in cash, cash equivalents and restricted cash at September 30, while total debt stood at 80.3 million US dollars. The balance sheet gives Natera room to fund expansion, although continued losses and higher spending remain relevant risks for shareholders.
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Natera company details
- Company: Natera, Inc.
- ISIN: US6323071042
- Ticker: NTRA
- Home exchange: Nasdaq
- Lang & Schwarz quote: 288.00 euros at 13:41 CET on November 10, 2026
