NEW YORK – Natera on Monday reported preliminary second quarter revenue growth of about 60 percent year over year.
The firm booked approximately $138 million to $141 million in total revenues, compared to $86.5 million in Q2 2020. Wall Street analysts were expecting revenues of $127.5 million, on average, for Q2.
The company expects its product revenues for Q2 to be approximately $135 million to $137 million, compared with product revenues of $80.4 million in the year-ago quarter, representing approximately 70 percent year-on-year growth.
Natera also said its volume growth rate in Q2 was the largest year-on-year growth it has seen as a publicly traded company. During the quarter, the firm processed approximately 370,000 tests, compared to approximately 234,000 tests processed during Q2 2020, representing growth of about 58 percent.
Further, the company expects that its women's health business will be its first business unit to achieve cash-flow breakeven operations during Q2.
Natera expects to recognize a loss from operations of approximately $113 million to $117 million for the quarter, compared to a loss from operations of $51.7 million for the second quarter of 2020, reflecting its increased costs in R&D and SG&A in support of the commercialization of its new product offerings.
The company's shares were down nearly 4 percent to $108.92 in Monday morning trading on the Nasdaq.