Natera, Inc. (NTRA) saw its loss widen to $35.96 million, or $0.70 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $8.68 million, or $0.17 a share.
Revenue during the quarter dropped 24.23 percent to $46.90 million from $61.90 million in the previous year period. Gross margin for the quarter contracted 1961 basis points over the previous year period to 28.15 percent. Operating margin for the quarter stood at negative 78.96 percent as compared to a negative 15.52 percent for the previous year period.
Operating loss for the quarter was $37.03 million, compared with an operating loss of $9.60 million in the previous year period.
Natera projects revenue to be in the range of $210 million to $230 million for financial year 2017.
Working capital drops significantly
Natera, Inc. has witnessed a decline in the working capital over the last year. It stood at $47.15 million as at Mar. 31, 2017, down 71.33 percent or $117.33 million from $164.47 million on Mar. 31, 2016. Current ratio was at 1.51 as on Mar. 31, 2017, down from 2.95 on Mar. 31, 2016.
Cash conversion cycle (CCC) has decreased to 5 days for the quarter from 7 days for the last year period. Days sales outstanding went up to 13 days for the quarter compared with 9 days for the same period last year.
Days inventory outstanding has decreased to 11 days for the quarter compared with 21 days for the previous year period. At the same time, days payable outstanding went down to 19 days for the quarter from 23 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 $49.81 million as on Mar. 31, 2017, up 18.01 percent or $7.60 million from $42.20 million on Mar. 31, 2016. Natera has witnessed an increase in short-term debt over the last one year. It stood at $49.81 million as on Mar. 31, 2017, up 18.01 percent or $7.60 million from $42.20 million on Mar. 31, 2016. Total debt was 28.30 percent of total assets as on Mar. 31, 2017, compared with 15.88 percent on Mar. 31, 2016. Debt to equity ratio was at 0.68 as on Mar. 31, 2017, up from 0.23 as on Mar. 31, 2016.
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