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Natera vs RadNet: revenue, profit, margins and growth compared

Natera brought in $2.3B of revenue in fiscal 2025, RadNet $2B in fiscal 2025. Revenue changed by +35.9% at Natera and +11.5% at RadNet on the year before, so Natera grew faster. Natera kept -9.0% of its revenue as net profit, RadNet -0.9%.

Side by side, latest fiscal year

NTRARDNT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.3B$2B
Revenue growth+35.9%+11.5%
Net income-$208.2M-$18.7M
Net margin-9.0%-0.9%
Free cash flow$109.1Mn/a
Free cash flow margin4.7%n/a
Earnings per share (diluted)-$1.52-$0.25
Cash$1.1B$767.2M
Debtn/a$1.1B
Price to earningsn/an/a
Market value$59.5B$5.6B
Dividend yieldn/an/a
Rank by revenue in sector#101 of 523 · Health care#108 of 523 · Health care

Over the years

Revenue
NTRA FY2018: $257.7MNTRA FY2019: $302.3MNTRA FY2020: $391MNTRA FY2021: $625.5MNTRA FY2022: $820.2MNTRA FY2023: $1.1BNTRA FY2024: $1.7BNTRA FY2025: $2.3BRDNT FY2018: $975.1MRDNT FY2019: $1.2BRDNT FY2020: $1.1BRDNT FY2021: $1.3BRDNT FY2022: $1.4BRDNT FY2023: $1.6BRDNT FY2024: $1.8BRDNT FY2025: $2BFY18FY19FY20FY21FY22FY23FY24FY25
NTRA $2.3BRDNT $2B
Net income
NTRA FY2018: -$128.2MNTRA FY2019: -$124.8MNTRA FY2020: -$229.7MNTRA FY2021: -$471.7MNTRA FY2022: -$547.8MNTRA FY2023: -$434.8MNTRA FY2024: -$190.4MNTRA FY2025: -$208.2MRDNT FY2018: $32.2MRDNT FY2019: $14.8MRDNT FY2020: -$14.8MRDNT FY2021: $24.7MRDNT FY2022: $10.7MRDNT FY2023: $3MRDNT FY2024: $2.8MRDNT FY2025: -$18.7MFY18FY19FY20FY21FY22FY23FY24FY25
NTRA -$208.2MRDNT -$18.7M
Net margin
NTRA FY2018: -49.7%NTRA FY2019: -41.3%NTRA FY2020: -58.8%NTRA FY2021: -75.4%NTRA FY2022: -66.8%NTRA FY2023: -40.2%NTRA FY2024: -11.2%NTRA FY2025: -9.0%RDNT FY2018: 3.3%RDNT FY2019: 1.3%RDNT FY2020: -1.4%RDNT FY2021: 1.9%RDNT FY2022: 0.7%RDNT FY2023: 0.2%RDNT FY2024: 0.2%RDNT FY2025: -0.9%FY18FY19FY20FY21FY22FY23FY24FY25
NTRA -9.0%RDNT -0.9%
Revenue growth
NTRA FY2019: +17.3%NTRA FY2020: +29.3%NTRA FY2021: +60.0%NTRA FY2022: +31.1%NTRA FY2023: +32.0%NTRA FY2024: +56.7%NTRA FY2025: +35.9%RDNT FY2019: +18.4%RDNT FY2020: -7.1%RDNT FY2021: +22.7%RDNT FY2022: +8.7%RDNT FY2023: +13.0%RDNT FY2024: +13.2%RDNT FY2025: +11.5%FY19FY20FY21FY22FY23FY24FY25
NTRA +35.9%RDNT +11.5%
Free cash flow
NTRA FY2018: -$74.5MNTRA FY2019: -$68.4MNTRA FY2020: -$202.1MNTRA FY2021: -$376.3MNTRA FY2022: -$479.2MNTRA FY2023: -$286.2MNTRA FY2024: $69.2MNTRA FY2025: $109.1MRDNT FY2018: $44.6MRDNT FY2019: $30.2MFY18FY19FY20FY21FY22FY23FY24FY25
NTRA $109.1MRDNT $30.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Natera and RadNet

Which is bigger by revenue, Natera or RadNet?

Natera is bigger by revenue: $2.3B in fiscal 2025, against $2B for RadNet in fiscal 2025.

Which keeps more of its revenue as profit, Natera or RadNet?

Natera had a net margin of -9.0% in fiscal 2025; RadNet had -0.9% in fiscal 2025.

Which grew revenue faster, Natera or RadNet?

In their latest fiscal years revenue changed by +35.9% at Natera and +11.5% at RadNet.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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