Company / R&D Expense
Natera, Inc. R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$624.1M
FY2025
5-year range
$100.0M / $624.1M
FY2021-FY2025
Trend
+54.4%
vs FY2024
Sector context
#13 of 110
Health Care
What the data says
Natera, Inc.'s r&d expense of $624M is higher than 88% of companies in the Health Care sector (FY2025). R&D Expense has increased for 3 consecutive years, from $100M in FY2022 to $624M in FY2025.
Based on SEC 10-K filings.
$624M in FY2025 with a 5-year CAGR of +64.8%. Top quartile in the Health Care sector.
Improved from $321M to $624M over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +84.1%
- 5-Year CAGR
- +64.8%
- 10-Year CAGR
- -
Sector benchmark
Top 12% in Health CareTop 12% of 110This company $624.1M Sector average $298.2M
▼
+109.3% above sector average
Key checks
Key Insights
- Natera, Inc.'s r&d expense has grown for 3 consecutive years.
- 5-year CAGR of +64.8%, indicating consistent growth.
- In FY2025, r&d expense increased 54.4% year-over-year.
- Ranks #13 out of 110 companies in the Health Care sector.
Company context
Key Data Points
- Altman Z-Score 0.94 (distress zone, below 1.8 threshold)
- Negative profit margin: -11.2%
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $624.1M | +54.4% |
| FY2024 | $404.1M | +26.0% |
| FY2023 | $320.7M | +220.6% |
| FY2022 | $100.0M | -62.1% |
| FY2021 | $264.2M | +414.5% |
| FY2020 | $51.4M | +2.6% |
| FY2019 | $50.1M | -2.5% |
| FY2018 | $51.4M | +2.6% |
| FY2017 | $50.1M | +19.6% |
| FY2016 | $41.9M | +51.1% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026