NTRA Natera (NTRA) Q2 FY26 earnings call
Natera delivered a record-breaking quarter, driven by strong test volumes across all business segments and significant oncology milestones including FDA and PMDA approvals for Signatera. The company raised its full-year revenue guidance, reflecting robust commercial execution and ASP improvements, while continuing strategic investments in R&D for future growth initiatives like early cancer detection.
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NTRA operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Average selling price Signatera | ~$1,100Signatera clinical ASPs improved to roughly $1,100 in Q4, and we continue to see steady progress for both Panorama and Horizon ASPs.Source: earnings call transcript | $1,100+Signatera ASPs moved above $1,100 in the quarter, driven primarily by continued execution on securing Medicare Advantage reimbursement.Source: earnings call transcript | — | ~$1,200Women's health and organ health each had another standout quarter and Signatera ASPs are now at roughly $1,200.Source: earnings call transcript | ~$1,225Signatera ASPs stepped up to roughly $1,225 in Q4.Source: earnings call transcript | ~$1,250Unit ASPs were up across the board in women's health in Oregon Health and Signatera ASPs reached another high now at roughly $1,250.Source: earnings call transcript | ~$1,275Signatera ASPs were up to roughly $1,275 as we continue to drive more consistent reimbursement for Medicare Advantage and commercial plans in biomarker states.Source: earnings call transcript | — |
| Procedures | — | 855KWe had an outstanding volume quarter across the board with 855,000 units processed in the quarter.Source: earnings call transcript | — | — | ~924KWe processed about 924,000 tests and set another record for MRD clinical unit growth with 225,000 tests processed in Q4.Source: earnings call transcript | 1MQ1 was our first to deliver 1 million units in a single quarter headlined by excellent volume performance in women's health and another record growth quarter for oncology.Source: earnings call transcript | ~1.044MWe processed approximately 1,044,000 tests in the second quarter, once again exceeding 1 million units and setting a new company record with strong volume performance across the business.Source: earnings call transcript | — |
| Procedures Oncology | — | — | 189KWe processed 189,000 oncology tests in the quarter, which represents nearly 20,000 units of growth compared to our first quarter of this year.Source: earnings call transcript | — | — | 249KIn oncology, we processed 249,000 clinical oncology units in the quarter, which is 55% growth over last year and yet another record with roughly 24,000 units over the Q4 results.Source: earnings call transcript | 283KIn oncology, we processed 283,000 clinical MRD units, representing year-over-year growth of approximately 56% compared to Q2 of 2025.Source: earnings call transcript | +13.7% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.