Natera Inc 2026年季度报告

FORM 10-Q_________________________________________________________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________to ___________ Commission File Number: 001-37478_________________________________________________________________ NATERA, INC. (Exact Name of Registrant as Specified in Its Charter)_________________________________________________________________ (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.) (650) 980-9190(Registrant’s Telephone Number, Including Area Code)_________________________________________________________________ Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days.YesNo☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).YesNo☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer☐ Accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No As of May1, 2026, the number of outstanding shares of the registrant’s common stock, par value $0.0001 per share, was 143,215,382. Natera, Inc.FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2026TABLE OF CONTENTS SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Part I — Financial InformationItem 1. Financial Statements (unaudited)Condensed Consolidated Balance Sheets at March 31, 2026and December 31, 20255Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months EndedMarch 31, 2026 and 20256Condensed Consolidated Statements of Stockholders’ Equity for the Three Months Ended March 31, 2026 and20257Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 20259Notes to Unaudited Interim Condensed Consolidated Financial Statements10Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations35Item 3. Quantitative and Qualitative Disclosures About Market Risk44Item 4. Controls and Procedures44 Item 1. Legal Proceedings45Item 1A. Risk Factors45Item 2. Unregistered Sales of Equity Securities and Use of Proceeds45Item 3. Defaults Upon Senior Securities45Item 4. Mine Safety Disclosures45Item 5. Other Information46Item 6. Exhibits47Signatures48 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This report contains forward-looking statements. The forward-looking statements are contained principally in the sections titled “RiskFactors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” but are also contained elsewhere inthis report. Forward-looking statements include information concerning our future results of operations and financial position, strategy andplans, and our expectations for future operations. Forward-looking statements include all statements that are not historical facts and, in somecases, can be identified by terms such as “believe,” “may” “will” “estimate,” “continue,” “anticipate,” “design” “intend” “expect” “could,”“plan” “potential,” “predict,” “seek,” “should,” “would” or the negative version of these words and similar expressions. These forward-looking statements include, but are not limited to, statements concerning the following: •our expectations regarding revenue, expenses and other operating results;•our expectation that, for the foreseeable future, a significant portion of our revenues will be derived from sales of Signatera,Panorama, and Horizon;•our ability to increase demand and reimbursement for our tests;•our expectation that Panorama will be adopted for the screening of mic