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NTRA
Natera Inc.Stock · Health Care
$265.38−$9.24 (-3.36%)as of market close, Aug 6, 2026
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How Natera makes money

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How does Natera make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Natera Inc. · FY2025 · year ended 2025-12-31
Revenue$2.3BNet loss$208M · 9%Cost of revenue$0 · 0%Gross profit$2.3B · 100%Operating expenses$2.6B · 113%Other income$102M · 4%R&D$624M · 27%SG&A$1.2B · 51%Other opex$815M · 35%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.