Natera, Inc. · NASDAQ:NTRA
Natera — Q3 2024 Earnings Presentation
14 slides from Natera's earnings presentation, Nov 12, 2024
Slide 1: Natera, Inc. Q3 2024 Earnings Call
Natera, Inc. Investor presentation Q3 2024 Earnings Call Nov. 12, 2024 1
Slide 2: Forward-looking statements
Not for reproduction or further distribution. This presentation contains forward - looking statements under the meaning of the Private Securities Litigation Reform Act of 1995 . All statements other than statements of historical facts contained in this presentation, including statements regarding ou
Slide 3: Q3 2024 highlights and recent business updates
Not for reproduction or further distribution. • Revenue of $439.8M in Q3 2024 vs $268.3M in Q3 2023; year - over - year growth of 64%. • ~776K total tests processed in Q3 2024 vs ~626K in Q3 2023; year - over - year growth of 24%. • ~137K oncology tests in Q3 2024 vs ~89K in Q3 2023; year - over - y
Slide 4: Quarterly volumes demonstrate continued momentum
Not for reproduction or further distribution. 200K 262K 407K 518K 626K 776K Q3'19 Q3'20 Q3'21 Q3'22 Q3'23 Q3'24 4 Quarterly volumes demonstrate continued momentum Core Volume Drivers • New features and products leading to women’s health account wins • New data and guidelines driving organ health • S
Slide 5: Signatera clinical units jump again
Not for reproduction or further distribution. 37K 37K 38K 44K 46K 48K 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 5 Signatera clinical units jump again, up ~11.4K units in Q3 2024 vs Q2 2024; record year - over - year growth 52K 61K 72K 81K 91K 106K 118K 130K 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 Signatera clin
Slide 6: Record revenue growth quarter
Not for reproduction or further distribution. $261M $268M $311M $368M $413M $440M Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 $78M $98M $158M $211M $268M $440M Q3'19 Q3'20 Q3'21 Q3'22 Q3'23 Q3'24 6 Record revenue growth quarter Total revenues: YoY Q3 trend Total revenues: Last consecutive q uarters 26% 61%
Slide 7: ASPs and COGS execution ahead of plan
Not for reproduction or further distribution. 39% 45% 45% 51% 57% 59% 62% 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 7 ASPs and COGS execution ahead of plan • Underlying gross margins (excluding true ups) increased ~400+ bps in Q3 2024 over Q2 2024 • Significant sequential step up in ASPs • Cash collection
Slide 8: Third consecutive cash flow positive quarter
Not for reproduction or further distribution. 8 1. Non - GAAP cash burn included $13.4 million change in unrealized loss and amortization or accretion on investments from the GAAP S tatement of Cash Flows during the first quarter 2022. Non - GAAP cash burn included $3.8 million change in unrealized
Slide 9: GALAXY data published in Nature Medicine and presented at ESMO
Not for reproduction or further distribution. 9 First - of - its - kind GALAXY data published in Nature Medicine and presented at ESMO Signatera status was predictive of overall survival (OS) Nearly 10x advantage in OS at 36 mos. Signatera was predictive of an OS benefit from ACT ~50% lower risk of
Slide 10: Completed analysis of randomized, phase III CRC trial
Not for reproduction or further distribution. 10 Completed analysis of randomized, phase III CRC trial First - of - its - kind analysis from CALGB (Alliance)/SWOG 80702 trial of >1K patients; presenting results at ASCO GI in Jan. 2025 Study Highlights Study Schema • Pre - specified analysis of CALGB
Slide 11: Celecoxib utility in colorectal cancer patients
Not for reproduction or further distribution. 11 Celecoxib utility in colorectal cancer patients Celecoxib summary & profile Potential benefit to CRC patients Addressing an unmet need • Some evidence suggests that NSAIDs reduce the risk of precancer adenomas and CRC. 1 • Celecoxib is a nonsteroidal
Slide 12: FY24 Q3 financial overview
Not for reproduction or further distribution. FY24 Q3 financial overview 1. Cash and investments also include cash equivalents and restricted cash. 2. This balance reflects net carrying value for the Convertible Senior Notes under ASC 470 - 20 while the gross principal amounts out standing is $287.5
Slide 13: 2024 guidance: raising expectations for revenue, gross margin and cash inflow
Not for reproduction or further distribution. Key drivers Current Q2 24 Q1 24 Original Guide ($ millions) Continued volume growth, conservative ASPs, strong oncology contribution $1,610 – $1,640 $ 1,490 – $1,520 $ 1,420 – $1, 450 $ 1,320 – $1, 350 Revenue ASPs, COGS on track 58 % – 61 % 54 % – 56 %
Slide 14: All Rights Reserved. ®
©2024 Natera, Inc. All Rights Reserved. Not for reproduction or further distribution. ® 14