NTRA Q2 2025 Earnings
Reported Aug 7, 2025 at 4:12 PM ET · SEC Source
Q2 25 EPS
$-0.74
MISS 24.54%
Est. $-0.59
Q2 25 Revenue
$546.6M
BEAT +14.63%
Est. $476.8M
vs S&P Since Q2 25
+14.8%
BEATING MARKET
NTRA +27.9% vs S&P +13.1%
Market Reaction
Did NTRA Beat Earnings? Q2 2025 Results
Natera posted a mixed second quarter for fiscal 2025, delivering a powerful revenue beat while falling short on the bottom line as surging operating costs weighed on results. The diagnostics company reported revenue of $546.60 million, up 32.2% year-… Read more Natera posted a mixed second quarter for fiscal 2025, delivering a powerful revenue beat while falling short on the bottom line as surging operating costs weighed on results. The diagnostics company reported revenue of $546.60 million, up 32.2% year-over-year and well ahead of the $476.84 million consensus estimate, yet its loss per diluted share of $0.74 missed the $0.59 estimate by 24.54%, largely driven by a 59.2% surge in total operating expenses that included roughly $19.80 million in legal accruals and a $9.20 million stock-based compensation adjustment. The standout engine behind the revenue strength was oncology, where approximately 188,800 tests were processed, up 50.6% year-over-year, with Signatera monitoring showing accelerating adoption across colorectal and breast cancer. Gross margin expanded to 63.4% from 58.8% a year ago, reflecting cost improvements and favorable prior-period revenue true-ups. Looking ahead, Natera raised its full-year 2025 revenue guidance by $80 million at the midpoint to a range of $2.02 billion to $2.10 billion, with analysts projecting the company could reach profitability as soon as 2027.
Key Takeaways
- • 32.2% year-over-year revenue growth driven by volume increases and ASP improvements
- • Oncology test volumes grew 50.6% year-over-year to approximately 188,800 tests
- • Signatera clinical tests reached ~181,000, adding ~20,000 units sequentially — fastest unit growth quarter
- • Gross margin expansion to 63.4% from 58.8% YoY driven by higher revenues, cost reductions, and true-up cash receipts
- • Cash receipts collected during the quarter in excess of initial revenue estimates for tests delivered in prior periods
- • Record number of oncology new patient starts
- • Strong ASPs in women's health remained intact
- • Sequential ASP improvement in Signatera
NTRA YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
NTRA Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered outstanding results in the second quarter, with record Signatera growth and continued strength across our women's health and organ health product lines.”
— Steve Chapman, Q2 2025 Earnings Press Release
NTRA Earnings Trends
NTRA vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NTRA EPS Trend
Earnings per share: estimate vs actual
NTRA Revenue Trend
Quarterly revenue: estimate vs actual
NTRA Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 FY | $-0.50 | — | — | $665.5M | +11.39% |
| FY Full Year | $-2.42 | $-1.52 | +37.16% | $2.31B | +3.04% |
| Q3 25 MISS | $-0.35 | $-0.64 | -80.74% | $592.2M | +15.04% |
| Q2 25 MISS | $-0.59 | $-0.74 | -24.54% | $546.6M | +14.63% |
| Q1 25 | — | $-0.50 | — | $501.8M | — |