Natera, Inc. (NTRA) saw its loss widen to $95.76 million, or $1.86 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $70.28 million, or $2.68 a share.
Revenue during the year grew 14.04 percent to $217.07 million from $190.36 million in the previous year. Gross margin for the year contracted 317 basis points over the previous year to 37.54 percent. Operating margin for the year stood at negative 44.45 percent as compared to a negative 31.43 percent for the previous year.
Operating loss for the year was $96.49 million, compared with an operating loss of $59.84 million in the previous year.
"We are pleased with the progress we made in the quarter," said Matt Rabinowitz, Natera's chief executive officer. "In particular, we believe the launches of Evercord and Version 3 of Panorama, further payer policy changes in favor of average risk NIPT, the introduction of a key new NIPT product with substantially broader coverage, and our selection for the I-SPY 2 trial represent important milestones for the Company."
For fiscal year 2017, Natera forecasts revenue to be in the range of $210 million to $230 million.
Working capital drops significantly
Natera, Inc. has witnessed a decline in the working capital over the last year. It stood at $77.70 million as at Dec. 31, 2016, down 54.36 percent or $92.55 million from $170.25 million on Dec. 31, 2015. Current ratio was at 1.81 as on Dec. 31, 2016, down from 3.12 on Dec. 31, 2015.
Cash conversion cycle (CCC) has decreased to 1 days for the year from 23 days for the last year. Days sales outstanding went up to 16 days for the year compared with 11 days for the same period last year.
Days inventory outstanding has decreased to 9 days for the year compared with 34 days for the previous year period. At the same time, days payable outstanding went up to 24 days for the year from 22 for the same period last year.
Debt moves up
Natera, Inc. has witnessed an increase in total debt over the last one year. It stood at $49.62 million as on Dec. 31, 2016, up 17.90 percent or $7.53 million from $42.09 million on Dec. 31, 2015. Natera has witnessed an increase in short-term debt over the last one year. It stood at $49.62 million as on Dec. 31, 2016, up 17.90 percent or $7.53 million from $42.09 million on Dec. 31, 2015. Total debt was 23.55 percent of total assets as on Dec. 31, 2016, compared with 15.87 percent on Dec. 31, 2015. Debt to equity ratio was at 0.47 as on Dec. 31, 2016, up from 0.23 as on Dec. 31, 2015.
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