Natera Clocks 28% Jump In Q1 Sales, Lifts FY22 Guidance

Natera Inc NTRA generated Q1 revenues of $194.1 million, up 27.5% Y/Y, beating the consensus of $176.60 million.
Product revenues were $190.0 million, an increase of 57.8%.
The company processed approximately 489,300 tests, compared to approximately 348,200 tests in Q1 FY21.
The gross profit margin compressed to 46.8% from 56.1%, primarily due to the revenue recognition of approximately $28.6 million in the first quarter of 2021 due to the conclusion of its collaboration with Qiagen N.V QGEN.
At March 31, 2022, Natera held approximately $752.2 million in cash, cash equivalents, short-term investments, and restricted cash.
The company posted a Q1 EPS loss of $(1.45) compared to $(0.74) a year ago, beating the consensus of $(1.48).
Guidance: Natera anticipates FY22 sales of $790 million - $810 million, higher than the $770 million - $790 million expected earlier, compared to the consensus of $779.92 million.
2022 gross margin to be approximately 46% to 48% of revenues
Price Action: NTRA shares are up 4.16% at $35.52 during the market session on the last check Friday.

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