Natera (NTRA) Misses Q4 EPS by 40c, Miss on Revenues; Offers FY18 Revenues Outlook Above Consensus

Note: EPS may not be comparable

Natera (NASDAQ: NTRA) reported Q4 EPS of ($0.87), $0.40 worse than the analyst estimate of ($0.47). Revenue for the quarter came in at $53.8 million versus the consensus estimate of $57.12 million.

2018 Financial Outlook

Natera anticipates 2018 total revenues of $250 million to $275 million**; 2018 cost of revenues to be approximately 60% to 65% of revenues; selling, general and administrative costs to be approximately $140 million to $150 million; research and development costs to be $50 million to $55 million, and net cash burn to be $40 million to $60 million***.

* Gross profit is calculated as GAAP total revenues less GAAP cost of revenues. Gross margin is calculated as gross profit divided by GAAP total revenues.

** Revenues for 2018 were estimated based on the new revenue guidance under Accounting Standards Codification (ASC) Topic 606, which will be effective for us in the first quarter of 2018.

*** Cash burn is calculated as the sum of GAAP net cash used by operating activities (estimated for 2018 to be between $35 million and $55 million) and GAAP net purchases of property and equipment (estimated for 2018 to be approximately $5 million).

GUIDANCE:

Natera sees FY2018 revenue of $250-275 million, versus the consensus of $246.13 million.

For earnings history and earnings-related data on Natera (NTRA) click here.

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