10-Q Filing

NATERA, INC. CIK: 1604821 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001558370-22-007500`
Period End Date	20220331
Filing Date	20220506
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	ntra-20220331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 32 Cash Flow Statement 65 Stockholders Equity 21

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Allowances on accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.39M	USD	Point-in-time
Allowances on accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.43M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$84.39M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$158.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	95.14M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$228.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	96.26M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$228.00K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	95.14M	shares	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$593.66M	USD	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$829.90M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	96.26M	shares	Point-in-time
Accounts receivable, net of allowance of $2,392 in 2022 and $2,429 in 2021	`AccountsReceivableNetCurrent`	$122.07M	USD	Point-in-time
Accounts receivable, net of allowance of $2,392 in 2022 and $2,429 in 2021	`AccountsReceivableNetCurrent`	$167.86M	USD	Point-in-time
Inventory	`InventoryNet`	$26.91M	USD	Point-in-time
Inventory	`InventoryNet`	$25.05M	USD	Point-in-time
Prepaid expenses and other current assets, net	`PrepaidExpenseAndOtherAssetsCurrent`	$29.64M	USD	Point-in-time
Prepaid expenses and other current assets, net	`PrepaidExpenseAndOtherAssetsCurrent`	$35.13M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.09B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$980.23M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$78.36M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$65.52M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$59.01M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$64.40M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.82M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$21.68M	USD	Point-in-time
Total assets	`Assets`	$1.24B	USD	Point-in-time
Total assets	`Assets`	$1.14B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$18.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$27.21M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$32.40M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$40.94M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$93.35M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$116.64M	USD	Point-in-time
Deferred revenue, current portion	`ContractWithCustomerLiabilityCurrent`	$13.91M	USD	Point-in-time
Deferred revenue, current portion	`ContractWithCustomerLiabilityCurrent`	$7.40M	USD	Point-in-time
Short-term debt financing	`ShortTermBorrowings`	$50.05M	USD	Point-in-time
Short-term debt financing	`ShortTermBorrowings`	$50.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$231.07M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$218.96M	USD	Point-in-time
Long-term debt financing	`LongTermNotesAndLoans`	$280.39M	USD	Point-in-time
Long-term debt financing	`LongTermNotesAndLoans`	$280.71M	USD	Point-in-time
Deferred revenue, long-term portion	`ContractWithCustomerLiabilityNoncurrent`	$20.54M	USD	Point-in-time
Deferred revenue, long-term portion	`ContractWithCustomerLiabilityNoncurrent`	$21.32M	USD	Point-in-time
Operating lease liabilities, long-term portion	`OperatingLeaseLiabilityNoncurrent`	$67.48M	USD	Point-in-time
Operating lease liabilities, long-term portion	`OperatingLeaseLiabilityNoncurrent`	$61.04M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.48M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$2.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$583.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$602.33M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.0001 par value: 750,000 shares authorized at both March 31, 2022 and December 31, 2021, respectively; 96,259 and 95,140 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Common stock, $0.0001 par value: 750,000 shares authorized at both March 31, 2022 and December 31, 2021, respectively; 96,259 and 95,140 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	`CommonStockValue`	$10.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$2.09B	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$2.05B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.39B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.53B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$4.26M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.29M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$3.20M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-13.90M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$542.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$486.24M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$372.44M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$653.30M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.24B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.14B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$194.13M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$152.32M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$80.41M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$40.19M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$147.63M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$108.33M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$331.26M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$215.33M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-63.02M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-137.13M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.07M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.09M	USD	1 Quarter
Interest and other income, net	`InterestIncomeExpenseNonoperatingNet`	$1.37M	USD	1 Quarter
Interest and other income, net	`InterestIncomeExpenseNonoperatingNet`	$801.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-138.42M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-63.72M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$134.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$179.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-63.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-138.59M	USD	1 Quarter
Unrealized loss on available-for-sale securities, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-11.62M	USD	1 Quarter
Unrealized loss on available-for-sale securities, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-1.06M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-150.21M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-64.92M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.45	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.74	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.45	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.74	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	86.69M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	95.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	95.58M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	86.69M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-63.85M	USD	1 Quarter
Net loss	`ProfitLoss`	$-138.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.55M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.00M	USD	1 Quarter
Premium amortization and discount accretion on investment securities	`InvestmentIncomeAmortizationOfPremium`	$1.79M	USD	1 Quarter
Premium amortization and discount accretion on investment securities	`InvestmentIncomeAmortizationOfPremium`	$2.10M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$23.23M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$35.09M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseCost`	$2.67M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseCost`	$3.31M	USD	1 Quarter
Amortization of debt discount and issuance cost	`AmortizationOfDebtDiscountPremium`	$304.00K	USD	1 Quarter
Amortization of debt discount and issuance cost	`AmortizationOfDebtDiscountPremium`	$312.00K	USD	1 Quarter
Inventory reserve adjustments	`InventoryReserveAdjustments`	$128.00K	USD	1 Quarter
Inventory reserve adjustments	`InventoryReserveAdjustments`	$316.00K	USD	1 Quarter
Other non-cash benefits	`OtherNonCashBenefitsCharges`	$4.00K	USD	1 Quarter
Other non-cash benefits	`OtherNonCashBenefitsCharges`	$56.00K	USD	1 Quarter
Provision for credit losses	`ProvisionForOtherCreditLosses`	$331.00K	USD	1 Quarter
Unrealized losses on investment securities	`MarketableSecuritiesUnrealizedGainLoss`	$281.00K	USD	1 Quarter
Loss on investments	`GainLossOnInvestments`	$-46.00K	USD	1 Quarter
Amortization of other assets	`AmortizationOfOtherAssets`	$143.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$46.12M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$9.00M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$3.97M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-1.73M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.46M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.37M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.56M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.31M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-8.54M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-4.50M	USD	1 Quarter
Operating lease liabilities	`OperatingLeasePayments`	$2.49M	USD	1 Quarter
Operating lease liabilities	`OperatingLeasePayments`	$2.77M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$18.60M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$21.34M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$5.74M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-40.05M	USD	1 Quarter
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-137.28M	USD	1 Quarter
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-74.88M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$24.98M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$43.02M	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$166.90M	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$140.02M	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$81.00M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.26M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.88M	USD	1 Quarter
Cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$86.74M	USD	1 Quarter
Cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$207.03M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.57M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.16M	USD	1 Quarter
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.16M	USD	1 Quarter
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.57M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$16.43M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$73.91M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$65.29M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.85M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$84.61M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$158.53M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$65.29M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$48.85M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$84.61M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$158.53M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$159.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$152.00K	USD	1 Quarter
Purchases of property and equipment in accounts payable and accruals	`CapitalExpendituresIncurredButNotYetPaid`	$2.10M	USD	1 Quarter
Purchases of property and equipment in accounts payable and accruals	`CapitalExpendituresIncurredButNotYetPaid`	$1.90M	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$542.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$486.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$372.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$653.30M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	95.14M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	96.26M	shares	Point-in-time
Issuance of common stock upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.16M	USD	1 Quarter
Issuance of common stock upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$4.57M	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$23.23M	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$35.09M	USD	1 Quarter
Unrealized loss on available-for sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-1.06M	USD	1 Quarter
Unrealized loss on available-for sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-11.62M	USD	1 Quarter
Cumulative-effect adjustment upon adoption of ASU 2020-06	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoptionDuration`	$-76.68M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-63.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-138.59M	USD	1 Quarter
Balance	`StockholdersEquity`	$542.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$486.24M	USD	Point-in-time
Balance	`StockholdersEquity`	$372.44M	USD	Point-in-time
Balance	`StockholdersEquity`	$653.30M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	95.14M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	96.26M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.