Natera, Inc.: loss per share $0.42 vs $0.2812 expected; revenue $794M vs $708M
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | −0.4200 | −0.2812 | −49.4% | −0.6400 |
| Revenue (USD m) | 794.0000 | 707.5400 | +12.2% | 592.1800 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD m) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Nov 5, 2026 | Q3 FY2026 | −0.42 | −0.2812 | −49.4% | 794.00 | 707.54 | +12.2% |
| Aug 6, 2026 | Q2 FY2026 | −0.47 | −0.4939 | +4.8% | 752.75 | 661.24 | +13.8% |
| May 7, 2026 | Q1 FY2026 | −0.56 | −0.5422 | −3.3% | 696.64 | 617.10 | +12.9% |
| Feb 26, 2026 | Q4 FY2025 | 0.35 | −0.5121 | — | 665.50 | 604.04 | +10.2% |
| Nov 6, 2025 | Q3 FY2025 | −0.64 | −0.3857 | −65.9% | 592.18 | 513.45 | +15.3% |
| Aug 7, 2025 | Q2 FY2025 | −0.74 | −0.6155 | −20.2% | 546.60 | 476.26 | +14.8% |
| May 8, 2025 | Q1 FY2025 | −0.50 | −0.6405 | +21.9% | 501.83 | 446.23 | +12.5% |
| Feb 27, 2025 | Q4 FY2024 | −0.41 | −0.3812 | −7.6% | 476.06 | 435.64 | +9.3% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
Natera, Inc. results: loss per share $0.42 vs $0.2812 expected; revenue $794M vs $708M. The results cover the company's Q3 FY2026. EPS came in worse than analysts' estimate by 49.4%; revenue above the estimate by 12.2%.
Revenue was up 34.1% from $592 million a year earlier (Q3 FY2025). On its record, EPS topped analysts' estimates in 2 of 6 earlier comparable reports.
What the results mean
According to the company's results release, management raised its financial outlook.
Revenue growth at Natera, Inc. reflects expanding test use and improved average selling prices. Oncology testing stood out as a growth driver, with increased molecular residual disease testing within a business that also serves women’s health and organ health.
The company continued reducing its cost of revenues, but a reduced contribution from revenue true-ups limited the benefit to reported gross margin. Margin improved when those adjustments were excluded, making the distinction between testing efficiency and accounting adjustments important to understanding performance.
The operating loss narrowed despite increased spending on staffing to support new products and on clinical trials. This indicates an improved ability to absorb spending as the business expands, while converting commercial growth into profitability remains a challenge.
What to watch on the earnings call: Demand drivers for oncology and molecular residual disease testing, the durability of improved average selling prices and lower testing costs, the effects of cash collections and revenue true-ups on margins, and how staffing and clinical trial spending are balanced with narrowing losses.
For the full analysis of Natera, Inc. stock — valuation, scores and financial statements — see the stock page linked with this story.