Natera, Inc. (NTRA) Leerink Global Healthcare Conference 2026 March 10, 2026 8:00 AM EDT
Company Participants
Mike Brophy – Chief Financial Officer
Conference Call Participants
Puneet Souda – Leerink Partners LLC, Research Division
Presentation
Puneet Souda
Leerink Partners LLC, Research Division
Good morning, everyone. I’m Puneet Souda. I cover life science tools and diagnostics here at Leerink. And it’s my pleasure to be hosting Mike Brophy, CFO of Natera. Mike, thanks for joining us. Thanks for being here. Great. So a lot to talk about. You obviously had remarkable growth in Signatera over the past few years, 2025 again. You have 100-plus publications, lots of clinical evidence there. You acquired the technology for PhasED variance. So that’s enhancing sensitivity. There’s a women’s health business that’s also doing well. You have 40% plus market share in NIPT. Competition is increasing, but you’re taking it head on, and we’ll get into some of the fetal focus in other discussions.
Question-and-Answer Session
Puneet Souda
Leerink Partners LLC, Research Division
But maybe just staying on Signatera at first. When we think about the volume — sequential volume growth, the number was 8,000 to 10,000 earlier when Signatera was growing strongly, it still is. But now that number is 20,000 sequential over the last 3 quarters. You’re suggesting we look at the last 4 quarters average sequential volume growth, the right way to look at it. So maybe tell us your thinking behind that? And how should that inform the view on forward volume?
Mike Brophy
Chief Financial Officer
Yes. Well, no, thanks for having me. And you’re right, we’ve been on a massive upward trajectory with Signatera volume growth. We posted 22,500 growth units last quarter, 225,000 units overall in the quarter. And so look, the question always comes, well, how do we model the next quarter as we’re kind of on this ramp. I
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