Press release
Natera Reports Third Quarter 2022 Financial Results
AUSTIN, Texas, Nov. 8, 2022 /PRNewswire/ -- Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA testing, today reported financial results for the
About this update from Natera, Inc.
[{"type":"text","content":"AUSTIN, Texas, Nov. 8, 2022 /PRNewswire/ -- Natera, Inc. (NASDAQ: NTRA), a global leader in cell-free DNA testing, today reported financial results for the third quarter ended September 30, 2022.\n\n \n \n \n \n \n \n\n \nRecent Strategic and Financial Highlights\nGenerated total revenues of $210.6 million in the third quarter of 2022 compared to $158.1 million in the third quarter of 2021, an increase of 33.2%. Product revenues grew 29.8% over the same period.Processed approximately 517,500 tests in the third quarter of 2022, compared to approximately 407,300 tests in the third quarter of 2021, an increase of 27.1%.2022 revenue guidance raised to $810 million – $830 million, up $40 million vs. initial 2022 guidance.Performed 53,000 oncology tests in the third quarter of 2022, representing 153% growth compared to the third quarter of 2021, with 35 published peer-reviewed studies for Signatera™ to date.Immunotherapy monitoring Medicare reimbursement set at $7,489; awarded pan-cancer Signatera™ contract from the U.S. Department of Veterans Affairs.Continued MRD data leadership for Signatera™ with new published studies in ovarian and uveal melanoma, CIRCULATE study accepted in Nature Medicine with 18-month prospective follow-up, and large (N=943) gastro-esophageal study accepted in JCO Precision Oncology.Prospera™ Kidney Test shown to outperform DSA in predicting antibody mediated rejection in Trifecta study published in Transplantation.Published inaugural Environmental, Social and Governance (\"ESG\") report reinforcing the Company's commitment to these areas and establishing 2025 goals.\"The Natera team delivered another strong quarter with record volumes and continued progress on our key clinical and data milestones,\" said Steve Chapman, Natera's Chief Executive Officer. \"Signatera's ongoing momentum is evident, with robust growth. We look forward to continuing to serve women's health, organ health, and oncology physicians and their patients.\"\nThird Quarter Ended September 30, 2022 Financial Results \nTotal revenues were $210.6 million in the third quarter of 2022 compared to $158.1 million for the third quarter of 2021, an increase of 33.2%. Product revenues were $199.8 million in the third quarter of 2022 compared to $153.9 million in the third quarter of 2021, an increase of 29.8%. The growth in product revenues was drive...