Natera, Inc. reported robust financial results for the first quarter ended March 31, 2025, with total revenues reaching $501.8 million. This represents a significant 36.5% increase year-over-year, primarily driven by a 37.1% rise in product revenues to $500.0 million.
The company processed approximately 855,100 tests in the quarter, an increase of 16.2% from Q1 2024, reflecting strong volume growth across its business. Gross profit for the quarter was $316.8 million, resulting in an expanded gross margin of 63.1%, up from 56.7% in the prior year.
Natera reported a net loss of $66.9 million, or ($0.50) per diluted share, an improvement from a net loss of $67.6 million, or ($0.56) per diluted share, in Q1 2024. As of March 31, 2025, the company maintained a strong liquidity position with approximately $991.6 million in cash, cash equivalents, short-term investments, and restricted cash.
Building on this strong performance, Natera raised its full-year 2025 revenue guidance to a range of $1.94 billion to $2.02 billion, an increase from its previous outlook. The company maintained its gross margin guidance of 60% to 64% and reiterated its expectation for positive net cash inflow for the full year.
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