NTRANatera, Inc.
Services-Medical Laboratories
- Revenue
- $2.3B
- 36% YoY
- Operating margin
- -13.4%
- 2.6% YoY
- EBITDA
- −$268M
- 40% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$183M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired15% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear5% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $625M | $820M | $1.1B | $1.7B | $2.3B | 36% |
| Operating income | −$468M | −$541M | −$446M | −$222M | −$310M | 39% |
| Net income | −$472M | −$548M | −$435M | −$190M | −$208M | 9.3% |
| Operating cash flow | −$335M | −$432M | −$247M | $136M | $215M | 59% |
| Capex | $41M | $48M | $39M | $66M | $106M | 60% |
| Stock-based comp | $115M | $152M | $192M | $274M | $354M | 29% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $93M · 115
- Net
- −$93M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $15M | $61M | 230 | 125 |
| FY2024 | $13M | $95M | 159 | 93 |
| FY2023 | $13M | $33M | 63 | 94 |
| FY2022 | $8M | −$10M | 40 | 90 |
| FY2021 | $23M | $18M | 94 | 100 |