01—Abstract
Summary
Summary of the 8-K filed January 9, 2024. Cited figures are marked; the original filing is the authoritative source.
Natera, Inc. (NASDAQ: NTRA) issued a press release on January 9, 2024 announcing preliminary, unaudited revenue results for the fourth quarter and full year ended December 31, 2023.
The company expects total revenues of approximately $300 milliona in Q4 2023, an increase of approximately 38% from $217 million in Q4 2022, and total revenues of approximately $1.07 billion for full year 2023, up approximately 30% from $820 million in 2022. The full-year figure is expected to be approximately $20 million above the top end of the company's guidance. The accompanying investor presentation, delivered at the 42nd Annual J.P.
Morgan Healthcare Conference, also highlights cash burn reduction. Management estimates annual cash burn fell by roughly $200 millionb in 2023, with a Q4 2023 cash burn estimate of about $60 million, which includes approximately $27 million of prepaid lab equipment and related expenditures that secured discounts. The company stated it is on track for a cash flow breakeven quarter in 2024.
Presentation data also cites more than 10 million tests processed and growth in Signatera and Panorama volumes. The figures are preliminary and unaudited and may change after year-end closing procedures and the independent audit. Natera plans to release complete fourth-quarter and full-year 2023 results during its earnings call in February 2024.
02—Key points
Key Highlights
- Preliminary Q4 2023 total revenues of approximately $300 million, up about 38% from $217 million in Q4 2022
- Preliminary full-year 2023 total revenues of approximately $1.07 billion, up about 30% from $820 million in 2022
- Full-year 2023 revenues expected to be approximately $20 million above the top end of company guidance
- Annual cash burn reduced by roughly $200 million in 2023; Q4 2023 cash burn estimated at about $60 million
- Management is on track for a cash flow breakeven quarter in 2024
- Investor presentation cites more than 10 million tests processed and continued Signatera volume growth
- All figures are preliminary and unaudited and remain subject to year-end closing and audit adjustments
03—Questions
Frequently Asked Questions
How much revenue did Natera expect to generate in the fourth quarter and full year of 2023?
Natera expects total revenues of approximately $300 million in Q4 2023 and approximately $1.07 billion for full year 2023. The company also said full-year 2023 revenues are expected to be about $20 million above the top end of its guidance.
Are these results final?
No. The preliminary results have not been audited by the independent registered public accounting firm and are subject to revision based on year-end closing procedures, final adjustments and the audit. Actual results may differ materially.
What did the company say about cash burn?
Natera estimated that it reduced annual cash burn by roughly $200 million in 2023. The Q4 2023 cash burn estimate of about $60 million includes approximately $27 million of accelerated payments for lab equipment and related expenditures, which were made for significant discounts.
When will Natera release complete fourth-quarter and full-year 2023 financial results?
Natera plans to release its complete fourth-quarter and full-year 2023 financial results during its earnings call in February 2024.
04—Continue