Natera (NTRA) Operating Expenses (2014 - 2026)
Natera's (NTRA) quarterly Operating Expenses came in at $828.5 million in Q2 2026, up 26.12% on a YoY basis from $657.0 million in Q2 2025, and up 4.86% quarter-over-quarter from $790.2 million in Q1 2026.
Analysis
Natera (NTRA) Operating Expenses (2014 - 2026) Analysis & Trends
Natera (NTRA) has reported Operating Expenses for 13 consecutive years, with $828.5 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses rose 26.12% year-over-year to $828.5 million; the trailing twelve-month figure through Jun 2026 stood at $3.0 billion (up 32.72% YoY), and the FY2025 full-year result was $2.6 billion, up 36.31% from the prior year.
- Operating Expenses rose to $828.5 million in Q2 2026 per NTRA's latest filing, from $790.2 million in the prior quarter.
- Across five years, Operating Expenses topped out at $828.5 million in Q2 2026 and bottomed at $329.7 million in Q3 2022.
- Historically, Operating Expenses has averaged $502.4 million across 5 years, with a median of $449.7 million in 2024.
- The widest YoY moves for Operating Expenses: up 53.84% in 2022, down 6.93% in 2022.
- Over 5 years, Operating Expenses stood at $359.0 million in 2022, then climbed by 10.2% to $395.6 million in 2023, then surged by 36.69% to $540.8 million in 2024, then rose by 27.27% to $688.3 million in 2025, then advanced by 20.38% to $828.5 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $828.5 million, $790.2 million, and $688.3 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Natera | 49.39 Bn | 48.29 Bn | 486.15 Mn | 828.54 Mn |
| 2 | Quest Diagnostics | 27.49 Bn | 26.86 Bn | 1.03 Bn | 2.58 Bn |
| 3 | Labcorp Holdings | 26.51 Bn | 26.37 Bn | 1.11 Bn | 582.30 Mn |
| 4 | Guardant Health | 23.17 Bn | 22.12 Bn | 219.03 Mn | 464.10 Mn |
| 5 | Tempus AI | 12.59 Bn | 11.77 Bn | 274.25 Mn | 458.40 Mn |
| 6 | Caris Life Sciences | 8.01 Bn | 7.22 Bn | 182.38 Mn | 236.79 Mn |
| 7 | Sotera Health | 5.53 Bn | 5.17 Bn | 177.96 Mn | 68.16 Mn |
| 8 | BillionToOne | 4.80 Bn | 4.25 Bn | 77.11 Mn | 71.60 Mn |
| 9 | Adaptive Biotechnologies | 4.40 Bn | 4.05 Bn | 51.39 Mn | 87.32 Mn |
| 10 | iRhythm Holdings | 3.68 Bn | 3.08 Bn | 163.21 Mn | 165.75 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 828.54 Mn |
| Mar 31, 2026 | 790.16 Mn |
| Dec 31, 2025 | 688.28 Mn |
| Sep 30, 2025 | 689.76 Mn |
| Jun 30, 2025 | 656.97 Mn |
| Mar 31, 2025 | 581.01 Mn |
| Dec 31, 2024 | 540.80 Mn |
| Sep 30, 2024 | 479.10 Mn |
| Jun 30, 2024 | 457.25 Mn |
| Mar 31, 2024 | 442.06 Mn |
| Dec 31, 2023 | 395.64 Mn |
| Sep 30, 2023 | 379.29 Mn |
| Jun 30, 2023 | 373.83 Mn |
| Mar 31, 2023 | 380.06 Mn |
| Dec 31, 2022 | 359.03 Mn |
| Sep 30, 2022 | 329.69 Mn |
| Jun 30, 2022 | 341.29 Mn |
| Mar 31, 2022 | 331.26 Mn |
| Dec 31, 2021 | 312.69 Mn |
| Sep 30, 2021 | 308.31 Mn |