NTRA Natera (NTRA) Q3 FY25 earnings call
Natera delivered a strong third quarter, marked by record revenue and significant growth in its Signatera MRD tests, leading to a substantial increase in full-year financial guidance. The company is actively expanding its Fetal Focus product and advancing its early cancer detection program, while also preparing for numerous MolDx submissions to broaden reimbursement coverage. Management anticipates continued strong performance into the next fiscal year with disciplined OpEx growth.
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NTRA operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | This call Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | 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.