10-Q Filing

NATERA, INC. CIK: 1604821 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001558370-23-008938`
Period End Date	20230331
Filing Date	20230510
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	ntra-20230331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 71 Income Statement 32 Cash Flow Statement 65 Stockholders Equity 24

Balance Sheet 71 line items

Line Item	Tag	Value	Unit	Period
Allowances on accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.83M	USD	Point-in-time
Allowances on accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.13M	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
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$403.15M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$466.09M	USD	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$158.53M	USD	Point-in-time
Cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$84.61M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	113.36M	shares	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$408.86M	USD	Point-in-time
Short-term investments	`MarketableSecuritiesCurrent`	$432.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.14M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	111.25M	shares	Point-in-time
Accounts receivable, net of allowance of $5,134 and $3,830 at March 31, 2023 and December 31, 2022, respectively	`AccountsReceivableNetCurrent`	$246.78M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	113.36M	shares	Point-in-time
Accounts receivable, net of allowance of $5,134 and $3,830 at March 31, 2023 and December 31, 2022, respectively	`AccountsReceivableNetCurrent`	$244.38M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	111.25M	shares	Point-in-time
Inventory	`InventoryNet`	$40.68M	USD	Point-in-time
Inventory	`InventoryNet`	$35.41M	USD	Point-in-time
Prepaid expenses and other current assets, net	`PrepaidExpenseAndOtherAssetsCurrent`	$29.99M	USD	Point-in-time
Prepaid expenses and other current assets, net	`PrepaidExpenseAndOtherAssetsCurrent`	$33.63M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.13B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.21B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$92.45M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$100.59M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$71.87M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$69.54M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$19.29M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$18.33M	USD	Point-in-time
Total assets	`Assets`	$1.32B	USD	Point-in-time
Total assets	`Assets`	$1.39B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$31.15M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$36.12M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$39.23M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$44.01M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$118.64M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$144.21M	USD	Point-in-time
Deferred revenue, current portion	`ContractWithCustomerLiabilityCurrent`	$16.58M	USD	Point-in-time
Deferred revenue, current portion	`ContractWithCustomerLiabilityCurrent`	$10.78M	USD	Point-in-time
Short-term debt financing	`ShortTermBorrowings`	$80.40M	USD	Point-in-time
Short-term debt financing	`ShortTermBorrowings`	$80.35M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$290.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$310.50M	USD	Point-in-time
Long-term debt financing	`LongTermNotesAndLoans`	$281.97M	USD	Point-in-time
Long-term debt financing	`LongTermNotesAndLoans`	$281.65M	USD	Point-in-time
Deferred revenue, long-term portion	`ContractWithCustomerLiabilityNoncurrent`	$20.00M	USD	Point-in-time
Deferred revenue, long-term portion	`ContractWithCustomerLiabilityNoncurrent`	$21.51M	USD	Point-in-time
Operating lease liabilities, long-term portion	`OperatingLeaseLiabilityNoncurrent`	$76.58M	USD	Point-in-time
Operating lease liabilities, long-term portion	`OperatingLeaseLiabilityNoncurrent`	$73.85M	USD	Point-in-time
Total liabilities	`Liabilities`	$688.73M	USD	Point-in-time
Total liabilities	`Liabilities`	$668.31M	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, 2023 and December 31, 2022; 113,359 and 111,255 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Common stock, $0.0001 par value: 750,000 shares authorized at both March 31, 2023 and December 31, 2022; 113,359 and 111,255 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$11.00K	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$2.74B	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$2.66B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.94B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.08B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-13.90M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-16.36M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.29M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-11.80M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$653.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$705.74M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$542.34M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$650.57M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.32B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.39B	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$241.76M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$194.13M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$80.41M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$82.31M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$147.63M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$149.63M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$380.06M	USD	1 Quarter
Total cost and expenses	`CostsAndExpenses`	$331.26M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-137.13M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-138.30M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.06M	USD	1 Quarter
Interest expense	`InterestExpense`	$2.09M	USD	1 Quarter
Interest and other income, net	`InterestIncomeExpenseNonoperatingNet`	$4.58M	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`	$-136.78M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$160.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$179.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-138.59M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-136.94M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$4.56M	USD	1 Quarter
Unrealized gain (loss) on available-for-sale securities, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-11.62M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-150.21M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-132.37M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.45	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-1.23	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.23	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-1.45	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	111.77M	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`	111.77M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-138.59M	USD	1 Quarter
Net loss	`ProfitLoss`	$-136.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$5.08M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$3.00M	USD	1 Quarter
Expensed in-process research and development	`ResearchAndDevelopmentInProcess`	$2.68M	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`	$787.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$40.70M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$35.09M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseCost`	$3.31M	USD	1 Quarter
Non-cash lease expense	`OperatingLeaseCost`	$3.81M	USD	1 Quarter
Amortization of debt discount and issuance cost	`AmortizationOfDebtDiscountPremium`	$320.00K	USD	1 Quarter
Amortization of debt discount and issuance cost	`AmortizationOfDebtDiscountPremium`	$312.00K	USD	1 Quarter
Foreign exchange adjustment	`ForeignCurrencyTransactionGainLossBeforeTax`	$-265.00K	USD	1 Quarter
Foreign exchange adjustment	`ForeignCurrencyTransactionGainLossBeforeTax`	$281.00K	USD	1 Quarter
Loss on investments	`GainLossOnInvestments`	$-46.00K	USD	1 Quarter
Amortization of other assets	`AmortizationOfOtherAssets`	$143.00K	USD	1 Quarter
Non-cash interest expense	`NonCashInterestExpense`	$48.00K	USD	1 Quarter
Non-cash interest expense	`NonCashInterestExpense`	$4.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.40M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$45.79M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-1.86M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$5.28M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.37M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-2.34M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-7.56M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$5.76M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$14.99M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-8.54M	USD	1 Quarter
Operating lease liabilities	`OperatingLeasePayments`	$2.18M	USD	1 Quarter
Operating lease liabilities	`OperatingLeasePayments`	$2.77M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$-18.18M	USD	1 Quarter
Other accrued liabilities	`IncreaseDecreaseInOtherAccruedLiabilities`	$21.34M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$7.31M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$5.74M	USD	1 Quarter
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-137.28M	USD	1 Quarter
Cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-80.89M	USD	1 Quarter
Purchases of investments	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$24.98M	USD	1 Quarter
Proceeds from sale of investments	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$166.90M	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$27.25M	USD	1 Quarter
Proceeds from maturity of investments	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$81.00M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.60M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.88M	USD	1 Quarter
Cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$15.65M	USD	1 Quarter
Cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$207.03M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$2.30M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$4.16M	USD	1 Quarter
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.30M	USD	1 Quarter
Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.16M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$73.91M	USD	1 Quarter
Net change in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-62.94M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$403.15M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$466.09M	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, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$84.61M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$403.15M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$466.09M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$158.53M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$84.61M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$159.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$1.12M	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`	$1.61M	USD	1 Quarter
Issuance of common stock for IPR&D acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$14.44M	USD	1 Quarter
Issuance of common stock for bonus	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition`	$19.77M	USD	1 Quarter

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$653.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$705.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$542.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$650.57M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	113.36M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	13.14M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	111.25M	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`	$2.30M	USD	1 Quarter
Issuance of common stock for IPR&D acquisition	`StockIssuedDuringPeriodValueAcquisitions`	$14.44M	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$40.70M	USD	1 Quarter
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$35.09M	USD	1 Quarter
Issuance of common stock for bonus	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition`	$19.77M	USD	1 Quarter
Unrealized gain (loss) on available-for sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$4.56M	USD	1 Quarter
Unrealized gain (loss) on available-for sale securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax`	$-11.62M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-138.59M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-136.94M	USD	1 Quarter
Balance	`StockholdersEquity`	$653.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$705.74M	USD	Point-in-time
Balance	`StockholdersEquity`	$542.34M	USD	Point-in-time
Balance	`StockholdersEquity`	$650.57M	USD	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	113.36M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	13.14M	shares	Point-in-time
Balance (in shares)	`CommonStockSharesIssued`	111.25M	shares	Point-in-time

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