Press release
Natera Reports First Quarter 2023 Financial Results
AUSTIN, Texas--(BUSINESS WIRE)-- Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA testing, today reported financial results for the first
About this update from Natera, Inc.
[{"type":"text","content":" AUSTIN, Texas--(BUSINESS WIRE)--\nNatera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA testing, today reported financial results for the first quarter ended March 31, 2023.\n\n\nRecent Strategic and Financial Highlights\n\n\n\nGenerated total revenues of $241.8 million in the first quarter of 2023, compared to $194.1 million in the first quarter of 2022, an increase of 24.5%. Product revenues grew 25.2% over the same period.\n\n\n\nProcessed approximately 626,200 tests in the first quarter of 2023, compared to approximately 489,300 tests in the first quarter of 2022, an increase of 28.0%.\n\n\n\nPerformed 71,000 oncology tests in the first quarter of 2023, compared to approximately 35,100 units in the first quarter of 2022, an increase of 102.2%.\n\n\n\nReinforced Panorama NIPT differentiation and data leadership with three papers (2 published, 1 accepted), including new evidence from the SMART study.\n\n\n\nReceived Medicare coverage for Prospera in heart transplantation.\n\n\n\nSecured first commercial coverage decisions for Signatera, including pan-cancer coverage policy from Blue Shield of California.\n\n\n\nNew study published in Cancer highlights Signatera’s performance in stages III – IV melanoma.\n\n\n\nExpanded I-SPY2 study published in Cancer Cell demonstrates prognostic and predictive value of Signatera for breast cancer patients in the neoadjuvant setting.\n\n\n\nRaising 2023 annual revenue guidance from $990 million to $1.0 billion to a new range of $995 million to $1.015 billion.\n\n\n\n“We are off to an excellent start in 2023,” said Steve Chapman, Natera’s Chief Executive Officer. “We published important new data sets in the women’s health and oncology settings, received the first commercial coverage policies for Signatera, and secured Medicare reimbursement for Prospera in heart transplantation. Our performance demonstrates the strength of our technology, and we look forward to helping millions of additional patients and advancing our mission to transform the management of disease.”\n\n\nFirst Quarter Ended March 31, 2023 Financial Results\n\n\nTotal revenues were $241.8 million in the first quarter of 2023, compared to $194.1 million for the first quarter of 2022, an increase of 24.5%. Product revenues were $237.8 million in the first quarter of 2023, compared to $190.0 million in the first quarter of...