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Side-by-side financial comparison of Natera, Inc. (NTRA) and PROCORE TECHNOLOGIES, INC. (PCOR). Click either name above to swap in a different company.
Natera, Inc. is the larger business by last-quarter revenue ($665.5M vs $349.1M, roughly 1.9× PROCORE TECHNOLOGIES, INC.). Natera, Inc. runs the higher net margin — 7.1% vs -10.8%, a 17.9% gap on every dollar of revenue. On growth, Natera, Inc. posted the faster year-over-year revenue change (39.8% vs 15.6%). PROCORE TECHNOLOGIES, INC. produced more free cash flow last quarter ($109.2M vs $37.8M). Over the past eight quarters, Natera, Inc.'s revenue compounded faster (34.5% CAGR vs 13.8%).
Natera, Inc. is a clinical genetic testing company based in Austin, Texas that specializes in non-invasive, cell-free DNA (cfDNA) testing technology, with a focus on women’s health, cancer, and organ health. Natera’s proprietary technology combines novel molecular biology techniques with a suite of bioinformatics software that allows detection down to a single molecule in a tube of blood. Natera operates CAP-accredited laboratories certified under the Clinical Laboratory Improvement Amendment...
Procore Technologies is an American construction management software as a service company founded in 2002, with headquarters in Carpinteria, California. Procore hosts a platform to connect those involved in the construction industry on a global platform. The software allows for the creation of simplified workflows and displays a consolidated view of construction products that includes the tracking of tasks, management of project workflows, and scheduling.
NTRA vs PCOR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $665.5M | $349.1M |
| Net Profit | $47.3M | $-37.6M |
| Gross Margin | — | 80.1% |
| Operating Margin | -3.4% | -12.3% |
| Net Margin | 7.1% | -10.8% |
| Revenue YoY | 39.8% | 15.6% |
| Net Profit YoY | 187.9% | 39.6% |
| EPS (diluted) | $0.36 | $-0.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $665.5M | $349.1M | ||
| Q3 25 | $592.2M | $338.9M | ||
| Q2 25 | $546.6M | $323.9M | ||
| Q1 25 | $501.8M | $310.6M | ||
| Q4 24 | $476.1M | $302.0M | ||
| Q3 24 | $439.8M | $295.9M | ||
| Q2 24 | $413.4M | $284.3M | ||
| Q1 24 | $367.7M | $269.4M |
| Q4 25 | $47.3M | $-37.6M | ||
| Q3 25 | $-87.5M | $-9.1M | ||
| Q2 25 | $-100.9M | $-21.1M | ||
| Q1 25 | $-66.9M | $-33.0M | ||
| Q4 24 | $-53.8M | $-62.3M | ||
| Q3 24 | $-31.6M | $-26.4M | ||
| Q2 24 | $-37.5M | $-6.3M | ||
| Q1 24 | $-67.6M | $-11.0M |
| Q4 25 | — | 80.1% | ||
| Q3 25 | — | 79.7% | ||
| Q2 25 | — | 79.1% | ||
| Q1 25 | — | 79.1% | ||
| Q4 24 | — | 81.2% | ||
| Q3 24 | — | 81.4% | ||
| Q2 24 | — | 83.1% | ||
| Q1 24 | — | 83.0% |
| Q4 25 | -3.4% | -12.3% | ||
| Q3 25 | -16.5% | -4.4% | ||
| Q2 25 | -20.2% | -9.3% | ||
| Q1 25 | -15.8% | -11.7% | ||
| Q4 24 | -13.6% | -21.9% | ||
| Q3 24 | -8.9% | -12.3% | ||
| Q2 24 | -10.6% | -5.2% | ||
| Q1 24 | -20.2% | -7.0% |
| Q4 25 | 7.1% | -10.8% | ||
| Q3 25 | -14.8% | -2.7% | ||
| Q2 25 | -18.5% | -6.5% | ||
| Q1 25 | -13.3% | -10.6% | ||
| Q4 24 | -11.3% | -20.6% | ||
| Q3 24 | -7.2% | -8.9% | ||
| Q2 24 | -9.1% | -2.2% | ||
| Q1 24 | -18.4% | -4.1% |
| Q4 25 | $0.36 | $-0.25 | ||
| Q3 25 | $-0.64 | $-0.06 | ||
| Q2 25 | $-0.74 | $-0.14 | ||
| Q1 25 | $-0.50 | $-0.22 | ||
| Q4 24 | $-0.41 | $-0.42 | ||
| Q3 24 | $-0.26 | $-0.18 | ||
| Q2 24 | $-0.30 | $-0.04 | ||
| Q1 24 | $-0.56 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $768.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.7B | $1.3B |
| Total Assets | $2.4B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $768.5M | ||
| Q3 25 | $1.0M | $684.0M | ||
| Q2 25 | $16.0M | $620.9M | ||
| Q1 25 | $17.8M | $566.7M | ||
| Q4 24 | $22.7M | $775.4M | ||
| Q3 24 | $29.5M | $756.9M | ||
| Q2 24 | $90.3M | $735.4M | ||
| Q1 24 | $69.1M | $744.6M |
| Q4 25 | $1.7B | $1.3B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.2B | $1.2B | ||
| Q1 25 | $1.2B | $1.2B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $878.5M | $1.3B | ||
| Q2 24 | $836.5M | $1.3B | ||
| Q1 24 | $794.1M | $1.2B |
| Q4 25 | $2.4B | $2.2B | ||
| Q3 25 | $1.8B | $2.1B | ||
| Q2 25 | $1.8B | $2.0B | ||
| Q1 25 | $1.7B | $1.9B | ||
| Q4 24 | $1.7B | $2.1B | ||
| Q3 24 | $1.6B | $2.0B | ||
| Q2 24 | $1.5B | $2.0B | ||
| Q1 24 | $1.5B | $1.9B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $73.9M | $114.9M |
| Free Cash FlowOCF − Capex | $37.8M | $109.2M |
| FCF MarginFCF / Revenue | 5.7% | 31.3% |
| Capex IntensityCapex / Revenue | 5.4% | 1.6% |
| Cash ConversionOCF / Net Profit | 1.56× | — |
| TTM Free Cash FlowTrailing 4 quarters | $109.1M | $282.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.9M | $114.9M | ||
| Q3 25 | $59.4M | $88.5M | ||
| Q2 25 | $37.6M | $30.8M | ||
| Q1 25 | $44.5M | $66.0M | ||
| Q4 24 | $52.9M | $29.1M | ||
| Q3 24 | $51.8M | $39.3M | ||
| Q2 24 | $4.0M | $58.7M | ||
| Q1 24 | $27.0M | $69.1M |
| Q4 25 | $37.8M | $109.2M | ||
| Q3 25 | $37.0M | $83.1M | ||
| Q2 25 | $11.7M | $27.9M | ||
| Q1 25 | $22.6M | $62.0M | ||
| Q4 24 | $34.8M | $17.4M | ||
| Q3 24 | $35.5M | $35.7M | ||
| Q2 24 | $-7.7M | $56.8M | ||
| Q1 24 | $6.7M | $67.1M |
| Q4 25 | 5.7% | 31.3% | ||
| Q3 25 | 6.2% | 24.5% | ||
| Q2 25 | 2.1% | 8.6% | ||
| Q1 25 | 4.5% | 20.0% | ||
| Q4 24 | 7.3% | 5.8% | ||
| Q3 24 | 8.1% | 12.1% | ||
| Q2 24 | -1.9% | 20.0% | ||
| Q1 24 | 1.8% | 24.9% |
| Q4 25 | 5.4% | 1.6% | ||
| Q3 25 | 3.8% | 1.6% | ||
| Q2 25 | 4.7% | 0.9% | ||
| Q1 25 | 4.3% | 1.3% | ||
| Q4 24 | 3.8% | 3.9% | ||
| Q3 24 | 3.7% | 1.2% | ||
| Q2 24 | 2.8% | 0.7% | ||
| Q1 24 | 5.5% | 0.8% |
| Q4 25 | 1.56× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NTRA
Segment breakdown not available.
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
