Natera, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-208.2M | $-190.4M | $-434.8M | $-547.8M | $-471.7M | $-229.7M | $-124.8M | $-128.2M |
| Depreciation & Amortization | $41.8M | $31.0M | $24.1M | $16.7M | $11.3M | $8.6M | $7.7M | $7.5M |
| Depreciation | $36.5M | $27.2M | $22.7M | $16.7M | $11.3M | — | — | — |
| Amortization | $3.9M | $1.0M | $0 | — | — | — | $1.2M | $1.3M |
| Stock-Based Compensation | $354.4M | $274.4M | $191.8M | $152.4M | $115.2M | $50.2M | $28.6M | $14.2M |
| Net Cash from Operating Activities | $215.3M | $135.7M | $-247.0M | $-431.5M | $-335.2M | $-182.5M | $-63.4M | $-70.6M |
| Investing Activities | ||||||||
| Capital Expenditures | $106.2M | $66.4M | $39.2M | $47.7M | $41.0M | $19.6M | $5.0M | $3.9M |
| Business Acquisitions | $16.0M | — | — | — | $8.6M | — | — | — |
| Net Cash from Investing Activities | $-132.2M | $137.6M | $168.5M | $330.3M | $-205.2M | $-331.5M | $-266.4M | $-5.2M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $47.5M | $30.2M | $254.5M | $482.6M | $576.2M | $500.8M | $340.8M | $113.7M |
| Net Change in Cash | — | — | — | — | — | — | — | — |
| Free Cash Flow | $109.1M | $69.2M | $-286.2M | $-479.2M | $-376.3M | $-202.1M | $-68.4M | $-74.5M |