# Natera tests processed in fiscal 2026 tests processed in 2026 Updated: August 13, 2026 Category: Financials Tags: KPIs HTML: /markets/financials/kpis/natera-tests-processed-in-fiscal-2026/ ## Short Answer **The model sees potential mispricing for Natera processing "Above 4.2 million" tests in fiscal 2026, with a 20.0% model probability versus 0.0% market probability.** This suggests the **market** may not fully account for the company's strong Q1 and Q2 2026 test volumes totaling over 2.05 million tests, an upward trend that led to raised full-year 2026 revenue guidance. ## Key Claims (January 2026) **- - Natera likely processed above 4.2 million tests, given over 2.05 million in H1 2026.** - Exceeding 4.2 million is supported by consistent test volume growth through Q2 2026. - Expected moderate international volume growth from recent approvals aids above 4.2 million. ### Why This Matters (GEO) - AI agents extract claims, not arguments. - Improves citation probability in summaries and answer cards. - Enables fact stitching across multiple sources. ## Executive Verdict **Key takeaway.** **Model** sees **20%** **probability** vs 0c **market**, a +20pp gap, as Natera processed over 2.05M tests in H1 2026. ### Who Wins and Why | Outcome | Market | Model | Why | | --- | --- | --- | --- | | Above 4.2 million | 0.0% | 20.0% | Research does not highlight strong supporting evidence. | | Above 4.25 million | 0.0% | 20.0% | Research does not highlight strong supporting evidence. | | Above 4.3 million | 0.0% | 20.0% | Research does not highlight strong supporting evidence. | ## Model vs Market | Outcome | Market Probability | Octagon Model Probability | | --- | --- | --- | | Above 4.2 million | 0.0% | 20.0% | | Above 4.25 million | 0.0% | 20.0% | | Above 4.3 million | 0.0% | 20.0% | | Above 4.35 million | 0.0% | 20.0% | | Above 4.4 million | 0.0% | 20.0% | - Expiration: May 27, 2027 ## Market Behavior & Price Dynamics This contract's price action is defined by a single, sharp upward movement on August 13, 2026. The probability gapped from a starting price of 1.0% to 15.0% in one day, where it has remained. This 14-point repricing was a direct reaction to Natera's Q2 2026 earnings report, released on August 6. The company announced record test volumes of approximately 1.04 million for the quarter, bringing its first-half total to over two million tests processed. Natera also raised its full-year 2026 revenue guidance, providing a clear fundamental catalyst for the price increase. The most critical technical feature is the complete absence of trading volume. With zero contracts traded, the price movement does not reflect active, two-sided market flow. It is more likely the result of a market maker repricing the contract based on the new fundamental data from the earnings release. The lack of participation means there is no demonstrated market conviction behind the 15.0% price level. As a result, there are no technically validated support or resistance levels. The 1.0% opening price serves as an initial floor, and the current 15.0% level is the effective ceiling, but neither has been tested by trading activity. While the price jump indicates a significantly higher perceived probability of the outcome following the strong Q2 report, the zero-volume condition shows this sentiment has not yet been confirmed by actual market consensus or capital allocation. ## Significant Price Movements #### 📈 August 13, 2026: 14.0pp spike Price increased from 1.0% to 15.0% **Outcome:** Above 4.2 million **What happened:** The primary driver for the 14.0 percentage point spike on August 13, 2026, was Natera's Q2 2026 earnings report on August 6, 2026 [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/)[[^]](https://www.marketbeat.com/earnings/reports/2026-8-7-natera-inc-stock/). The company announced record test volumes, processing approximately 1.04 million tests in Q2, and raised its full-year 2026 revenue guidance [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://finance.yahoo.com/markets/stocks/articles/natera-ntra-20-3-shelf-050938588.html)[[^]](https://simplywall.st/stocks/us/pharmaceuticals-biotech/nasdaq-ntra/natera/news/natera-ntra-is-up-203-after-raising-2026-guidance-and-expand). This positive news, preceding the prediction market spike by several days, increased confidence in Natera reaching "Above 4.2 million" tests in fiscal 2026 [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://finance.yahoo.com/markets/stocks/articles/natera-ntra-20-3-shelf-050938588.html)[[^]](https://simplywall.st/stocks/us/pharmaceuticals-biotech/nasdaq-ntra/natera/news/natera-ntra-is-up-203-after-raising-2026-guidance-and-expand). No relevant social media activity from key figures or viral narratives was identified that would have directly caused this specific market movement on August 13, indicating social media was largely irrelevant in this instance. ## Contract Snapshot A "YES" resolution for a contract (e.g., "Above 4.2 million") is triggered if the total number of Natera tests processed in fiscal year 2026 exceeds the specified numerical threshold. Conversely, a "NO" resolution is triggered if the total number of Natera tests processed is at or below that threshold. Trading for this market ends on February 26, 4:00 PM EST, with the maximum payout date set for May 27, 2027. ## Market Discussion Natera processed approximately 1,043,900 tests in the second quarter of 2026, marking a 22.4% increase from 853,100 tests in the second quarter of 2025 [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/)[[^]](https://www.stocktitan.net/sec-filings/NTRA/8-k-natera-inc-reports-material-event-e612d9f04e2d.html). The company raised its fiscal 2026 revenue guidance to a range of $2.85 billion to $2.91 billion, with market sentiment reportedly bullish due to revenue beats and record oncology test volumes [[^]](https://www.sec.gov/Archives/edgar/data/1604821/000160482126000015/ntra-20260630xex991.htm)[[^]](https://www.benzinga.com/markets/earnings/26/08/61052706/natera-ceo-says-company-is-clearly-on-a-roll-after-record-test-volumes-raises-outlook)[[^]](https://247wallst.com/companies/ntra/earnings)[[^]](https://stockstotrade.com/news/natera-inc-ntra-news-2026_08_07/)[[^]](https://www.timothysykes.com/news/naterainc-ntra-news-2026_08_08/)[[^]](https://www.timothysykes.com/news/naterainc-ntra-news-2026_08_07/)[[^]](https://stockstotrade.com/news/natera-inc-ntra-news-2026_08_07-3/). ## Market Data | Contract | Yes Bid | Yes Ask | Last Price | Volume | Open Interest | | --- | --- | --- | --- | --- | --- | | Above 4.2 million | 15% | 99% | 0% | $0 | $0 | | Above 4.25 million | 1% | 99% | 0% | $0 | $0 | | Above 4.3 million | 1% | 99% | 0% | $0 | $0 | | Above 4.35 million | 1% | 99% | 0% | $0 | $0 | | Above 4.4 million | 1% | 99% | 0% | $0 | $0 | ## Based on Natera's performance in the first half of 2026, what quarterly growth rate is required in H2 to exceed 4.3 million total tests? Tests processed in H1 2026 | 2,057,500 tests [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-First-Quarter-2026-Financial-Results/default.aspx) | Additional tests needed in H2 2026 | 2,242,500 tests [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx) | Required quarterly growth rate | 7.4% over Q2 2026 volume [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx) | **Natera's H1 2026 test volume was 2.06 million** Natera's H1 2026 test volume was 2.06 million. In the first half of 2026, Natera processed a total of 2,057,500 tests [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx). This volume comprised 1,013,600 tests in the first quarter and 1,043,900 tests in the second quarter of 2026 [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-First-Quarter-2026-Financial-Results/default.aspx). To achieve its full-year objective of 4.3 million total tests in 2026, the company must process an additional 2,242,500 tests during the second half of the year [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx). Meeting H2 targets requires significant quarterly growth. To meet the goal of 2,242,500 tests in the second half of 2026, Natera needs to process an average of 1,121,250 tests per quarter in Q3 and Q4 [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx). This target necessitates a quarterly growth rate of approximately **7.4%** when compared to the Q2 2026 test volume [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx). ## What impact will recent regulatory approvals in Europe (IVDR) and Japan (PMDA) have on Natera's international test volumes in H2 2026? EU IVDR Class C Certification | July 2026 [[^]](https://www.natera.com/company/news/natera-announces-ivdr-certification-for-signatera-across-multiple-cancers/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Announces-IVDR-Certification-for-Signatera-Across-Multiple-Cancers/default.aspx)[[^]](https://www.biospace.com/press-releases/natera-announces-ivdr-certification-for-signatera-across-multiple-cancers) | Japan PMDA Approval | June 2026 [[^]](https://www.genomeweb.com/cancer/natera-nabs-japanese-approval-colorectal-cancer-mrd-blood-test-sets-sights-other-indications)[[^]](https://www.natera.com/company/news/signatera-receives-regulatory-approval-in-japan-for-colorectal-cancer-2/)[[^]](https://www.biospectrumasia.com/news/50/27898/first-pmda-approved-molecular-residual-disease-mrd-test-enters-japan.html) | Q2 2026 Tests Processed | 1,043,900 [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.marketscreener.com/news/natera-q2-2026-earnings-presentation-ce7f50d2d988f021)[[^]](https://www.stocktitan.net/sec-filings/NTRA/8-k-natera-inc-reports-material-event-e612d9f04e2d.html) | **Natera expects moderate international volume growth from recent approvals** Natera expects moderate international volume growth from recent approvals. Natera’s recent regulatory approvals for Signatera in Europe and Japan are not anticipated to cause immediate, substantial increases in international test volumes during the second half of 2026. The company has explicitly conveyed expectations for moderate volume growth, rather than rapid boosts, from these international regulatory milestones [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.marketscreener.com/news/natera-q2-2026-earnings-presentation-ce7f50d2d988f021)[[^]](https://www.stocktitan.net/sec-filings/NTRA/8-k-natera-inc-reports-material-event-e612d9f04e2d.html). Key approvals establish regulatory foundation and **market** entry for Signatera. In Europe, Natera secured EU IVDR Class C certification for its Signatera assay in July 2026, which is crucial for long-term regulatory compliance for clinical use and trial execution across the region [[^]](https://www.natera.com/company/news/natera-announces-ivdr-certification-for-signatera-across-multiple-cancers/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Announces-IVDR-Certification-for-Signatera-Across-Multiple-Cancers/default.aspx)[[^]](https://www.biospace.com/press-releases/natera-announces-ivdr-certification-for-signatera-across-multiple-cancers). This certification serves as essential infrastructure, not a significant short-term driver for volume surges in H2 2026 [[^]](https://www.natera.com/company/news/natera-announces-ivdr-certification-for-signatera-across-multiple-cancers/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Announces-IVDR-Certification-for-Signatera-Across-Multiple-Cancers/default.aspx)[[^]](https://www.biospace.com/press-releases/natera-announces-ivdr-certification-for-signatera-across-multiple-cancers). Concurrently, Japan granted PMDA approval for Signatera in colorectal cancer in June 2026, making it the nation's first PMDA-approved MRD test [[^]](https://www.genomeweb.com/cancer/natera-nabs-japanese-approval-colorectal-cancer-mrd-blood-test-sets-sights-other-indications)[[^]](https://www.natera.com/company/news/signatera-receives-regulatory-approval-in-japan-for-colorectal-cancer-2/)[[^]](https://www.biospectrumasia.com/news/50/27898/first-pmda-approved-molecular-residual-disease-mrd-test-enters-japan.html). Natera plans a commercial launch in Japan by the end of 2026, pending final pricing and reimbursement agreements [[^]](https://www.genomeweb.com/cancer/natera-nabs-japanese-approval-colorectal-cancer-mrd-blood-test-sets-sights-other-indications)[[^]](https://www.natera.com/company/news/signatera-receives-regulatory-approval-in-japan-for-colorectal-cancer-2/)[[^]](https://www.biospectrumasia.com/news/50/27898/first-pmda-approved-molecular-residual-disease-mrd-test-enters-japan.html). Overall strong performance stems from oncology, despite modest international outlook. Despite tempered expectations for international growth linked to these new approvals, Natera demonstrated robust overall performance in Q2 2026, processing 1,043,900 tests. The company also elevated its annual revenue guidance to a range of **$2.85** billion to **$2.91** billion, primarily attributing this increase to growth within its oncology segment, particularly clinical MRD [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.marketscreener.com/news/natera-q2-2026-earnings-presentation-ce7f50d2d988f021)[[^]](https://www.stocktitan.net/sec-filings/NTRA/8-k-natera-inc-reports-material-event-e612d9f04e2d.html). ## How does Natera's test volume growth in H1 2026 compare to that of its key competitors, such as Guardant Health and Invitae? Natera H1 2026 Total Tests | 2,057,500 total tests (H1 2026) [[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-First-Quarter-2026-Financial-Results/default.aspx) | Invitae Status | Acquired by Labcorp (August 2024) [[^]](https://elevenflo.com/blog/invitae-bankruptcy)[[^]](https://pitchbook.com/profiles/company/52602-76)[[^]](https://stockanalysis.com/stocks/nvtaq/company/) | Guardant Health Q2 2026 Oncology Test Growth | 63% year-over-year (Q2 2026) [[^]](https://www.morningstar.com/news/business-wire/20260730185180/guardant-health-reports-second-quarter-2026-financial-results-and-increases-2026-revenue-guidance)[[^]](https://www.stocktitan.net/sec-filings/GH/8-k-guardant-health-inc-reports-material-event-37742a26fa87.html) | **Natera demonstrated strong H1 2026 test volume growth, totaling over two million processed tests** Natera demonstrated strong H1 2026 test volume growth, totaling over two million processed tests. The company processed approximately 2,057,500 total tests in the first half of 2026, comprising 1,013,600 in Q1 and 1,043,900 in Q2 [[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-First-Quarter-2026-Financial-Results/default.aspx). This performance indicates strong year-over-year growth for Natera [[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-First-Quarter-2026-Financial-Results/default.aspx). However, a direct and comprehensive comparison of Natera's H1 2026 total test volume growth against its key competitors is challenging due to the disparate reporting methods and company statuses [[^]](https://www.morningstar.com/news/business-wire/20260730185180/guardant-health-reports-second-quarter-2026-financial-results-and-increases-2026-revenue-guidance)[[^]](https://www.stocktitan.net/sec-filings/GH/8-k-guardant-health-inc-reports-material-event-37742a26fa87.html). Competitors present varied statuses, complicating direct comparison of test volumes. Invitae, previously considered a key competitor, is no longer a public or standalone entity, having been acquired by Labcorp in August 2024 following Chapter 11 bankruptcy proceedings [[^]](https://elevenflo.com/blog/invitae-bankruptcy)[[^]](https://pitchbook.com/profiles/company/52602-76)[[^]](https://stockanalysis.com/stocks/nvtaq/company/). Guardant Health reported significant growth in its oncology test volume, which increased by **63%** year-over-year for Q2 2026, driven by its oncology and screening business [[^]](https://www.morningstar.com/news/business-wire/20260730185180/guardant-health-reports-second-quarter-2026-financial-results-and-increases-2026-revenue-guidance)[[^]](https://www.stocktitan.net/sec-filings/GH/8-k-guardant-health-inc-reports-material-event-37742a26fa87.html). Despite this strong performance, Guardant Health does not publicly provide a single total test volume figure that is directly comparable to Natera's processed tests, thus limiting a comprehensive comparison of total test volume growth [[^]](https://www.morningstar.com/news/business-wire/20260730185180/guardant-health-reports-second-quarter-2026-financial-results-and-increases-2026-revenue-guidance)[[^]](https://www.stocktitan.net/sec-filings/GH/8-k-guardant-health-inc-reports-material-event-37742a26fa87.html). ## What is the historical trend of Natera's quarterly test processing volume from 2024 through Q2 2026? Total Tests Processed FY 2024 | 3,064,600 tests (FY 2024) [[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2025-financial-results/)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2024-financial-results/) | Total Tests Processed FY 2025 | 3,525,500 tests (FY 2025) [[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2025-financial-results/)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2024-financial-results/) | Tests Processed Q2 2026 | 1,043,900 tests (Q2 2026) [[^]](https://investor.wedbush.com/wedbush/article/bizwire-2024-8-8-natera-reports-second-quarter-2024-financial-results)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2024-financial-results/)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2025-financial-results/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-First-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/) | **Natera's test processing volume grew consistently from 2024 to Q2 2026** Natera's test processing volume grew consistently from 2024 to Q2 2026. The company demonstrated a consistent upward trajectory in its test processing volumes throughout this period. In fiscal year 2024, Natera processed a total of 3,064,600 tests, which subsequently rose to 3,525,500 tests in fiscal year 2025 [[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2025-financial-results/)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2024-financial-results/). Quarterly volumes in 2024 and 2025 showed steady increases. For 2024, test volumes increased from approximately 730,000 in the first quarter to 792,800 in the fourth quarter [[^]](https://investor.wedbush.com/wedbush/article/bizwire-2024-8-8-natera-reports-second-quarter-2024-financial-results)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2024-financial-results/)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2025-financial-results/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-First-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/). This growth extended into 2025, with first quarter volumes reaching 855,100 tests processed, and fourth quarter volumes climbing to 923,600 tests [[^]](https://investor.wedbush.com/wedbush/article/bizwire-2024-8-8-natera-reports-second-quarter-2024-financial-results)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2024-financial-results/)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2025-financial-results/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-First-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/). The upward trend extended into 2026 with continued growth. Natera's processing volume in the first quarter of 2026 reached 1,013,600 tests, further increasing to 1,043,900 tests in the second quarter of 2026 [[^]](https://investor.wedbush.com/wedbush/article/bizwire-2024-8-8-natera-reports-second-quarter-2024-financial-results)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2024-financial-results/)[[^]](https://www.natera.com/company/news/natera-reports-fourth-quarter-and-full-year-2025-financial-results/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-First-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/). ## What do recent analyst estimates and Natera's own revised 2026 guidance imply for total annual test volume? 2026 Full-Year Revenue Guidance | $2.85 billion to $2.91 billion (August 2026) [[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.stocktitan.net/sec-filings/NTRA/8-k-natera-inc-reports-material-event-e612d9f04e2d.html) | Q2 2026 Tests Processed | Approximately 1.044 million [[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/)[[^]](https://www.thecerbatgem.com/2026/08/09/natera-q2-earnings-call-highlights.html)[[^]](https://247wallst.com/companies/ntra/earnings) | Q2 2026 Oncology Test Volume Growth | 57.2% year-over-year [[^]](https://www.thecerbatgem.com/2026/08/09/natera-q2-earnings-call-highlights.html)[[^]](https://247wallst.com/companies/ntra/earnings) | **Natera raised its 2026 full-year revenue guidance significantly** Natera raised its 2026 full-year revenue guidance significantly. As of August 2026, the company increased its forecast to a range of **$2.85** billion to **$2.91** billion [[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/)[[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.stocktitan.net/sec-filings/NTRA/8-k-natera-inc-reports-material-event-e612d9f04e2d.html). This updated projection follows a robust second quarter in 2026, during which Natera processed approximately 1.044 million tests. This marked the second consecutive quarter the company surpassed 1 million tests processed [[^]](https://www.natera.com/company/news/natera-reports-second-quarter-2026-financial-results/)[[^]](https://www.thecerbatgem.com/2026/08/09/natera-q2-earnings-call-highlights.html)[[^]](https://247wallst.com/companies/ntra/earnings). Growth in revenue stems from increased volumes and pricing. The primary drivers for this expansion are a combination of higher total test volumes and improvements in average selling prices. A key contributor to this growth was Natera's oncology business, which experienced a substantial **57.2%** year-over-year increase in test volumes during Q2 2026 [[^]](https://www.thecerbatgem.com/2026/08/09/natera-q2-earnings-call-highlights.html)[[^]](https://247wallst.com/companies/ntra/earnings). ## What Could Change the Odds **Natera processed approximately 1,013,600 tests in Q1 2026 and approximately 985,500 total reported units in Q2 2026, contributing to about 1.999 million tests year-to-date through Q2 2026 [[^]](https://octagonai.co/files/sec-filings/1604821/0001628280-26-054525/ntra-20260630.pdf?response-content-disposition=inline&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=663e4f53311b0b0fa6c9e0c596c6bb4c%2F20260813%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20260813T081836Z&X-Amz-Expires=604800&X-Amz-SignedHeaders=host&X-Amz-Signature=238908553d8b8a041e3489194dc53f5087e21da128e45cf0b7606d767d3960c9#page=40)[[^]](https://octagonai.co/files/sec-filings/1604821/0001628280-26-054525/ntra-20260630.pdf?response-content-disposition=inline&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=663e4f53311b0b0fa6c9e0c596c6bb4c%2F20260813%2Fus-east-1%2Fs3%2Faws4_request&X-Amz-Date=20260813T081836Z&X-Amz-Expires=604800&X-Amz-SignedHeaders=host&X-Amz-Signature=238908553d8b8a041e3489194dc53f5087e21da128e45cf0b7606d767d3960c9#page=36).** The company increased its fiscal 2026 full-year revenue guidance to **$2.85** billion –**$2.91** billion, from an earlier range of **$2.74** billion–**$2.82** billion, while upholding expectations for **64%**–**66%** gross margins and positive cash flow [[^]](https://investor.natera.com/news/news-details/2026/Natera-Reports-Second-Quarter-2026-Financial-Results/default.aspx)[[^]](https://www.stocktitan.net/sec-filings/NTRA/8-k-natera-inc-reports-material-event-e612d9f04e2d.html)[[^]](https://www.rttnews.com/3677215/natera-q2-loss-narrows-as-revenue-jumps-raises-fy26-revenue-outlook.aspx). This growth was primarily driven by commercial expansion of Signatera, Panorama, and Horizon, with oncology test volume reaching approximately 296,700 units in Q2 2026, up from approximately 188,800 in the prior-year quarter [[^]](https://octagonai.co/files/sec-filings/1604821/0001628280-26-054525/ntra-20260630.pdf?response-content-disposition=inline&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=663e4f53311b0b0fa6c9e0c596c6bb4c%2F20260813%2Fus-east-**1%**2Fs3%2Faws4_request&X-Amz-Date=20260813T081836Z&X-Amz-Expires=604800&X-Amz-SignedHeaders=host&X-Amz-Signature=238908553d8b8a041e3489194dc53f5087e21da128e45cf0b7606d767d3960c9#page=40)[[^]](https://octagonai.co/files/sec-filings/1604821/0001628280-26-054525/ntra-20260630.pdf?response-content-disposition=inline&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=663e4f53311b0b0fa6c9e0c596c6bb4c%2F20260813%2Fus-east-**1%**2Fs3%2Faws4_request&X-Amz-Date=20260813T081836Z&X-Amz-Expires=604800&X-Amz-SignedHeaders=host&X-Amz-Signature=238908553d8b8a041e3489194dc53f5087e21da128e45cf0b7606d767d3960c9#page=36). **Bullish catalysts include a NCCN Category 1 recommendation for Signatera in bladder cancer, expanded Medicare/MolDx coverage, and international expansion, particularly in Japan [[^]](https://ng.investing.com/news/earnings/natera-earnings-on-deck-can-reimbursement-gains-fuel-growth-93CH-2645483).** Improving operating leverage is also a potential positive driver [[^]](https://ng.investing.com/news/earnings/natera-earnings-on-deck-can-reimbursement-gains-fuel-growth-93CH-2645483). Conversely, bearish risks involve sustained net losses, substantial fixed and research and development costs, and persistent regulatory and reimbursement pressures [[^]](https://ng.investing.com/news/earnings/natera-earnings-on-deck-can-reimbursement-gains-fuel-growth-93CH-2645483). Full fiscal 2026 trend visibility is limited as Q3 and Q4 2026 data are not yet available [[^]](https://octagonai.co/files/sec-filings/1604821/0001628280-26-054525/ntra-20260630.pdf?response-content-disposition=inline&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=663e4f53311b0b0fa6c9e0c596c6bb4c%2F20260813%2Fus-east-**1%**2Fs3%2Faws4_request&X-Amz-Date=20260813T081836Z&X-Amz-Expires=604800&X-Amz-SignedHeaders=host&X-Amz-Signature=238908553d8b8a041e3489194dc53f5087e21da128e45cf0b7606d767d3960c9#page=40)[[^]](https://octagonai.co/files/sec-filings/1604821/0001628280-26-054525/ntra-20260630.pdf?response-content-disposition=inline&response-content-type=application%2Fpdf&X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=663e4f53311b0b0fa6c9e0c596c6bb4c%2F20260813%2Fus-east-**1%**2Fs3%2Faws4_request&X-Amz-Date=20260813T081836Z&X-Amz-Expires=604800&X-Amz-SignedHeaders=host&X-Amz-Signature=238908553d8b8a041e3489194dc53f5087e21da128e45cf0b7606d767d3960c9#page=36). ## Key Dates & Catalysts - **Expiration:** May 27, 2027 - **Closes:** May 27, 2027 ## Decision-Flipping Events - Natera processed approximately 1,013,600 tests in Q1 2026 and approximately 985,500 total reported units in Q2 2026, contributing to about 1.999 million tests year-to-date through Q2 2026 [^] [^] . - The company increased its fiscal 2026 full-year revenue guidance to **$2.85** billion –**$2.91** billion, from an earlier range of **$2.74** billion–**$2.82** billion, while upholding expectations for **64%**–**66%** gross margins and positive cash flow [^] [^] [^] . - This growth was primarily driven by commercial expansion of Signatera, Panorama, and Horizon, with oncology test volume reaching approximately 296,700 units in Q2 2026, up from approximately 188,800 in the prior-year quarter [^] [^] . - Bullish catalysts include a NCCN Category 1 recommendation for Signatera in bladder cancer, expanded Medicare/MolDx coverage, and international expansion, particularly in Japan [^] . ## Related Research Reports - [American Airlines passenger load factor in Q3](/markets/financials/companies/american-airlines-passenger-load-factor-in-q3/) - [American Airlines passenger load factor in fiscal 2026](/markets/financials/kpis/american-airlines-passenger-load-factor-in-fiscal-2026/) - [Apple headcount in 2026](/markets/financials/kpis/apple-headcount-in-2026/) - [When will Tim Cook leave Apple?](/markets/financials/ceos/when-will-tim-cook-leave-apple/) ## Historical Resolutions No historical resolution data available for this series. ## Disclaimer This content is for informational and educational purposes only and does not constitute financial, investment, legal, or trading advice. Prediction markets involve risk of loss. Past performance does not guarantee future results. We are not affiliated with Kalshi or any prediction market platform. Market data may be delayed or incomplete. ### Data Sources & Model Transparency **Data Sources:** Octagon Deep Research aggregates information from multiple sources including news, filings, and market data. **Freshness:** Analysis is generated periodically and may not reflect the latest developments. Verify critical information from primary sources. ## Attribution Policy When quoting, summarizing, or reproducing Octagon content, attribute it to Octagon and link to the Octagon source URL: https://www.octagonai.co/markets/financials/kpis/natera-tests-processed-in-fiscal-2026 If a specific page was used, cite that page rather than only the site homepage.