Natera Q4, Full-Year Revenues Rise on Increased Product Sales, Test Volume

Original from: 360DX

Natera reported after the close of market Tuesday year-over-year revenue gains of approximately 26 percent for the fourth quarter of 2022 and 31 percent for the full year. 

The Austin, Texas-based company finished the three months ended Dec. 31 with $217.3 million in revenues compared to $173 million for the same quarter of 2021, narrowly beating analysts' average estimate of approximately $215.6 million. 

The firm attributed most of the increase to greater product sales, which rose approximately 28 percent in Q4 2022 to $212.9 million from $166.1 million in Q4 of 2021. Test volumes rose by nearly 28 percent year over year to approximately 559,700 tests in Q4 of 2022 compared to approximately 438,800 tests in the same quarter of 2021. 

The firm's net loss for the quarter rose to $142.6 million, or $1.37 per share, from $140.6 million, or $1.48 per share, in the fourth quarter of 2021. It beat the average Wall Street estimate for a loss of $1.42 per share.

Natera reported approximately $820.2 million in revenues for 2022, up 31 percent from $625.5 million in 2021 and edging past analysts' consensus estimate of $819.1 million. It processed nearly 2.1 million tests during the year versus around 1.6 million the previous year.

The company's full-year R&D spending shot up nearly 20 percent to $316.4 million from $264.2 million in 2021, while its SG&A expenses rose approximately 16 percent to $588.6 from $511 a year earlier.

Its full-year net loss rose to $547.8 million, or $5.57 per share, from $471.7 million, or $5.21 per share, in 2021. Analysts, on average, had expected a FY 2022 net loss of $5.63 per share.

Natera finished the year with approximately $898.4 million in cash, cash equivalents, short-term investments, and restricted cash. 

The company said it anticipates full-year 2023 revenue in the range of $980 million to $1 billion.

Source: Natera Q4, Full-Year Revenues Rise on Increased Product Sales, Test Volume