Natera (NTRA) Gross Margin (2014 - 2026)
Natera's (NTRA) quarterly Gross Margin came in at 64.58% in Q2 2026, up 109.0% on a YoY basis from 30.9% in Q2 2025, and little changed quarter-over-quarter from 64.8% in Q1 2026.
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Natera (NTRA) Gross Margin (2014 - 2026) Analysis & Trends
Natera (NTRA) has reported Gross Margin for 13 consecutive years, with 64.58% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 109.0% year-over-year to 64.58%; the trailing twelve-month figure through Jun 2026 stood at 65.34% (up 239.0% YoY), and the FY2025 full-year result was 64.85%, up 447.0% from the prior year.
- Gross Margin held at 64.58% in Q2 2026 per NTRA's latest filing, from 64.8% in the prior quarter.
- Across five years, Gross Margin topped out at 67.06% in Q4 2025 and bottomed at 38.88% in Q1 2023.
- Historically, Gross Margin has averaged 54.93% across 5 years, with a median of 57.86% in 2024.
- The sharpest annual moves came in 2022 and 2024: Gross Margin plunged 967 bps in 2022, then jumped 1793 bps in 2024.
- Over 5 years, Gross Margin stood at 41.65% in 2022, then rose by 24 bps to 51.45% in 2023, then rose by 23 bps to 63.04% in 2024, then advanced by 6 bps to 67.06% in 2025, then dropped by 4 bps to 64.58% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 64.58%, 64.8%, and 67.06% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Natera | 49.39 Bn | 48.29 Bn | 486.15 Mn | 64.58% |
| 2 | Quest Diagnostics | 27.49 Bn | 26.86 Bn | 1.03 Bn | 33.75% |
| 3 | Labcorp Holdings | 26.51 Bn | 26.37 Bn | 1.11 Bn | 29.80% |
| 4 | Guardant Health | 23.17 Bn | 22.12 Bn | 219.03 Mn | 65.39% |
| 5 | Tempus AI | 12.59 Bn | 11.77 Bn | 274.25 Mn | 71.70% |
| 6 | Caris Life Sciences | 8.01 Bn | 7.22 Bn | 182.38 Mn | 69.16% |
| 7 | Sotera Health | 5.53 Bn | 5.17 Bn | 177.96 Mn | 55.38% |
| 8 | BillionToOne | 4.80 Bn | 4.25 Bn | 77.11 Mn | 70.45% |
| 9 | Adaptive Biotechnologies | 4.40 Bn | 4.05 Bn | 51.39 Mn | 71.82% |
| 10 | iRhythm Holdings | 3.68 Bn | 3.08 Bn | 163.21 Mn | 72.80% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 64.58% |
| Mar 31, 2026 | 64.80% |
| Dec 31, 2025 | 67.06% |
| Sep 30, 2025 | 65.00% |
| Jun 30, 2025 | 63.50% |
| Mar 31, 2025 | 63.21% |
| Dec 31, 2024 | 63.04% |
| Sep 30, 2024 | 61.88% |
| Jun 30, 2024 | 58.91% |
| Mar 31, 2024 | 56.81% |
| Dec 31, 2023 | 51.45% |
| Sep 30, 2023 | 45.23% |
| Jun 30, 2023 | 45.37% |
| Mar 31, 2023 | 38.88% |
| Dec 31, 2022 | 41.65% |
| Sep 30, 2022 | 45.20% |
| Jun 30, 2022 | 45.13% |
| Mar 31, 2022 | 47.11% |
| Dec 31, 2021 | 46.06% |
| Sep 30, 2021 | 49.08% |