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 Amendments (CLIA) in San Carlos, California and Austin, Texas.3 Its shares trade on Nasdaq under the symbol NTRA.1Wikipedia text CC BY-SA 4.0
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 Amendments (CLIA) in San Carlos, California and Austin, Texas.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue101112139$2.3B in 2025+663% since 2019Operating income101112139-$309.9M in 2025+167% since 2019Net income101112139-$208.2M in 2025+67% since 2019
Revenue1415$752.8M in Q2 FY2026+8% since Q1 FY2026Operating income1415-$75.8M in Q2 FY2026−19% since Q1 FY2026Net income1415-$67.0M in Q2 FY2026−21% since Q1 FY2026
Every line of the income statement as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Total revenues
$2.3B
$1.7B
$1.1B
Research and development
$624.1M
$404.1M
$320.7M
Selling, general and administrative
$1.2B
$841.3M
$618.3M
Amortization of acquired intangible assets
$1.7M
Total cost and expenses
$2.6B
$1.9B
$1.5B
Loss from operations
-$309.9M
-$222.3M
-$446.2M
Interest expense
-$4.1M
-$10.7M
-$12.6M
Interest and other income, net
$45.9M
$43.2M
$24.4M
Loss before income taxes
-$268.1M
-$189.7M
-$434.5M
Income tax benefit (expense)
$59.9M
-$695.0K
-$271.0K
Net loss
-$208.2M
-$190.4M
-$434.8M
Unrealized gain on available-for-sale securities and foreign currency translation adjustment
$86.0K
$2.7M
$13.3M
Comprehensive loss
-$208.1M
-$187.7M
-$421.5M
Basic (in dollars per share)
-$1.52
-$1.53
-$3.78
Diluted (in dollars per share)
-$1.52
-$1.53
-$3.78
Basic (in shares)
136.7M shares
124.7M shares
115.0M shares
Diluted (in shares)
136.7M shares
124.7M shares
115.0M shares
No quarter-by-quarter statement was filed.
Total assets16101112139$2.4B in 2025+312% since 2019Total liabilities16101112139$685.9M in 2025+126% since 2019Shareholders’ equity1112139$1.7B in 2025+514% since 2019Cash1610119$1.1B in 2025+1638% since 2019Long-term debt101213$282.9M in 2023+1% since 2021
Total assets1415$2.7B in Q2 FY2026+11% since Q1 FY2025Total liabilities1415$836.0M in Q2 FY2026+22% since Q1 FY2025Shareholders’ equity1415$1.8B in Q2 FY2026+6% since Q1 FY2025Cash1415$1.1B in Q2 FY2026+1% since Q1 FY2025
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 7 quarters (quarterly), latest first.9
Period ending
2025-12-31
2025-11-30
2024-12-31
2024-10-31
2023-12-31
Cash, cash equivalents and restricted cash
$1.1B
$945.6M
$642.1M
Short-term investments
$22.7M
Accounts receivable, net of allowance of $8,018 in 2025 and $7,259 in 2024
Common stock, $0.0001 par value: 750,000 shares authorized at both December 31, 2025 and 2024; 139,693 and 132,646 shares issued and outstanding at December 31, 2025 and 2024, respectively
$14.0K
$12.0K
Additional paid-in capital
$4.5B
$3.8B
Accumulated deficit
-$2.8B
-$2.6B
Accumulated other comprehensive loss
-$258.0K
-$344.0K
-$3.1M
Total stockholders' equity
$1.7B
$1.2B
$765.3M
Total liabilities and stockholders' equity
$2.4B
$1.7B
Allowances on accounts receivable
$8.0M
$7.3M
Common stock, par value (in dollars per share)
$0.00
$0.00
Common stock, shares authorized
750.0M shares
750.0M shares
Common stock, shares issued
139.7M shares
132.6M shares
7.5M shares
Common stock, shares outstanding
139.7M shares
132.6M shares
Period ending
2025-12-31
2025-11-30
2024-12-31
2024-10-31
2023-12-31
2023-09-30
2022-12-31
Cash, cash equivalents and restricted cash
$1.1B
$945.6M
$642.1M
$466.1M
Short-term investments
$22.7M
Accounts receivable, net of allowance of $8,018 in 2025 and $7,259 in 2024
Common stock, $0.0001 par value: 750,000 shares authorized at both December 31, 2025 and 2024; 139,693 and 132,646 shares issued and outstanding at December 31, 2025 and 2024, respectively
$14.0K
$12.0K
Additional paid-in capital
$4.5B
$3.8B
Accumulated deficit
-$2.8B
-$2.6B
Accumulated other comprehensive loss
-$258.0K
-$344.0K
-$3.1M
Total stockholders' equity
$1.7B
$1.2B
$765.3M
$705.7M
Total liabilities and stockholders' equity
$2.4B
$1.7B
Allowances on accounts receivable
$8.0M
$7.3M
Common stock, par value (in dollars per share)
$0.00
$0.00
Common stock, shares authorized
750.0M shares
750.0M shares
Common stock, shares issued
139.7M shares
132.6M shares
7.5M shares
4.5M shares
Common stock, shares outstanding
139.7M shares
132.6M shares
Cash from operations101112139$215.3M in 2025Capital spending101112139$106.2M in 2025+2037% since 2019Free cash flow101112139$109.1M in 2025
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.9
Period ending
2025-12-31
2024-12-31
2023-12-31
Net loss
-$208.2M
-$190.4M
-$434.8M
Depreciation and amortization
$41.8M
$31.0M
$24.1M
Amortization of acquired intangible assets
$1.7M
Expensed in-process research and development
$2.7M
Non-cash lease expense
$20.2M
$15.3M
$14.5M
Stock-based compensation
$354.4M
$274.4M
$191.8M
Amortization of premiums and accretion of purchase discounts on investment securities
$32.0K
-$618.0K
$1.1M
Change in fair value of warrants and preferred stock of related party equity investment
-$3.2M
Foreign exchange adjustment
$17.0K
$462.0K
$265.0K
Amortization of debt discount and issuance cost
$991.0K
$1.3M
Non-cash interest expense
-$39.0K
$2.8M
$52.0K
Non-cash expense recovery
-$1.4M
-$442.0K
Accounts receivable
$20.8M
-$35.9M
-$33.9M
Inventory
-$20.9M
-$4.0M
-$5.4M
Operating lease right-of-use assets
$4.2M
$8.4M
Prepaid expenses and other assets
-$8.6M
$10.8M
-$26.1M
Accounts payable
$753.0K
$13.2M
-$15.5M
Accrued compensation
$60.3M
$40.3M
$21.6M
Deferred tax liability
-$60.8M
Operating lease liabilities
-$19.8M
-$16.8M
-$12.4M
Other accrued liabilities
$31.3M
-$6.4M
$10.3M
Deferred revenue
$2.8M
$852.0K
$5.0M
Net cash provided by (used in) operating activities
$215.3M
$135.7M
-$247.0M
Purchases of investments
-$122.0M
-$98.3M
Proceeds from sale of investments
$24.8M
Proceeds from maturity of investments
$23.0M
$314.4M
$306.0M
Purchases of property and equipment, net
-$106.2M
-$66.4M
-$39.2M
Purchase of intangible assets, net
-$33.0M
-$10.5M
Investment in related party
-$2.7M
Cash paid for business combination, net
-$16.0M
Net cash (used in) provided by investing activities
-$132.2M
$137.6M
$168.5M
Proceeds from exercise of stock options
$22.5M
$13.0M
$3.9M
Proceeds from issuance of common stock under employee stock purchase plan
$25.0M
$17.3M
$15.1M
Proceeds from public offering, net of issuance cost
$235.4M
Stock issuance costs
-$112.0K
Cash redemption on Convertible Note
-$82.0K
Net cash provided by financing activities
$47.5M
$30.2M
$254.5M
Net change in cash, cash equivalents and restricted cash
$130.6M
$303.5M
$176.0M
Cash paid for income taxes, net
$499.0K
$1.3M
$295.0K
Cash paid for interest
$4.1M
$7.9M
$11.3M
Purchases of property and equipment in accounts payable and accruals
-$1.0M
$9.4M
$1.6M
Acquisition of warrants
$9.4M
Amounts accrued for acquisition of intangible assets
$3.0M
$1.4M
Contingent consideration for business combination
$118.4M
Issuance of common stock for business combination
$287.4M
Issuance of common stock for IPR&D milestone
$14.4M
Issuance of common stock for bonuses
$32.9M
$24.1M
$19.8M
Stock-based compensation included in capitalized software development costs
Natera sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
VANGUARD GROUP INCFiled SCHEDULE 13G/A on Natera, latest Mar 27, 2026 (4 filings since Feb 10, 2022)
JPMorgan ChaseFiled SCHEDULE 13G/A on Natera, latest Jan 23, 2026 (7 filings since Jan 24, 2022)
BlackRockFiled SCHEDULE 13G/A on Natera, latest Apr 17, 2025 (8 filings since Feb 3, 2022)
ALGER ASSOCIATES INCFiled SC 13G/A on Natera, latest Nov 14, 2024 (4 filings since Feb 14, 2022)
NateraWilmington, Delaware, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Natera reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
We lease office facilities under non-cancelable operating lease agreements. We currently occupy approximately 136,000 square feet of laboratory and office space at 201 Industrial Road in San Carlos, California pursuant to a lease that we directly entered into with our landlord in October 2016. This lease covers two office spaces, referred to as the First Space and the Second Space. The First Space covers approximately 88,000 square feet. The Second Space covers approximately 48,000 square feet. The original lease term was approximately 84 months. An amendment was signed in January 2021 which extended the term of the lease for 48 months. The amended term of the lease commenced in October 2023 and will expire in October 2027. In July 2024, we entered into an amendment of the San Carlos lease to extend the term for 60 months to October 2032. The annual rent will be approximately $9.7 million beginning January 2025, escalating annually and may be increased if we elect to utilize additional tenant improvement allowances. In January 2025, we entered into a lease agreement for additional premises of approximately 40,700 rentable square feet in San Carlos, California, through November 2028 with an annual rent expense of approximately $1.5 million.
We lease laboratory and office space in Austin, Texas, comprising approximately 94,000 square feet pursuant to a lease expiring in November 2026. In December 2021, we entered into an amendment of the Austin lease agreement which extended the lease of the current premises through March 2033. The amendment also includes two additional office spaces, referred to as the First Expansion Premises and the Second Expansion Premises. The First Expansion Premises consists of 32,500 rentable square feet and commenced in February 2022. The Second Expansion Premises consists of 65,222 rentable square feet and commenced in September 2022. The terms of the First and Second Expansion Premises expire in March 2033. In March 2025, we entered into a lease agreement for additional premises of approximately 57,100 rentable square feet in Austin, Texas through March 2033 with an annual rent expense of approximately $0.9 million. In August 2025, we entered into a lease agreement for additional premises of approximately 45,800 rentable square feet in Austin, Texas through March 2033 with an annual rent expense of approximately $0.7 million. In December 2025, the Company exercised its expansion right for an additional premises of approximately 28,468 rentable square feet in Austin, Texas through March 2033 with an annual rent expense of approximately $0.4 million.
The rest of Item 2
We entered into a lease agreement in November 2020 to lease 11,395 square feet of space located in South San Francisco, California over a three-year term. The premises is used for general office, laboratory and research use. In December 2022, we exercised the renewal option of the South San Francisco lease agreement. In January 2023, we entered into an amendment to extend the lease term of the South San Francisco premises by three years, through November 2026.
We entered into a lease agreement in September 2023 to lease 16,319 square feet of space located in Pleasanton, California over a 60-month term. The premises will be used for laboratory and research use and commenced in December 2023. The annual lease payment starts at $0.5 million and increases annually. In December 2025, the Company entered in an amendment to extend the existing premises and expand to an additional premises of 15,485 rentable square feet in Pleasanton, California through March 2034. The combined annual lease payment will be approximately $0.9 million.
In December 2025, as part of the business combination, we assumed a lease agreement for approximately 25,718 square feet of space located in Boulder, Colorado. The premises are used for general office, laboratory, and research use. The lease term extends through June 2034, and the annual lease payments commence at approximately $1.5 million and escalate anually.
We have also historically entered into leases of individual workspaces and storage spaces at various locations on both a month-to-month basis without an established lease term, and more recently for certain locations, have committed to terms approximating one to five years. For the facilities without a committed lease term, we have elected to not recognize them as the right-of-use assets on the consolidated balance sheets as they are all considered short-term leases. For individual workspaces where the committed lease term exceeds one year, we have recorded a right-of-use asset.
We may expand our facilities capacity as our employee base and laboratory processing needs grow. We believe that we will be able to obtain additional space on commercially reasonable terms.
Natera (previously Gene Security Network) was founded by Matthew Rabinowitz and Jonathan Sheena in 2004. Natera launched its first product, the Spectrum preimplantation genetic test, in 2009.
In 2010, the company introduced the Anora miscarriage (POC) test. Natera's advanced carrier screening test, Horizon, launched in 2012. The following year, 2013, Natera launched the Panorama non-invasive prenatal test (NIPT).
In July 2015, Natera conducted an initial public offering of common stock at a price of $18.00 per share. The shares trade on the Nasdaq Global Select Market under the symbol "NTRA."
In 2017, Natera launched the Vistara single-gene NIPT. That same year, Natera introduced the Signatera molecular residual disease (MRD) test for research use only. The Signatera CLIA test was introduced for clinical use in 2019.
In 2018 Natera paid a $11 million fine to the department over allegations of improper billing and sales of Panorama to federal Healthcare services between the years of 2013 to 2016.
Natera launched the Prospera dd-cfDNA transplant assessment test in 2019, and the Renasight kidney gene panel and the Empower hereditary cancer test in 2020.
As of May 2021, Natera has performed over 3 million cell-free DNA tests. Natera's technology has also been written about in over 200 peer-reviewed journals and publications, including Nature, Science Magazine, and the Journal of Clinical Oncology.
The Panorama NIPT is the only single-nucleotide polymorphism (SNP)-based NIPT. The test analyzes fetal DNA found in the mother's blood to reveal a baby's risk for genetic disorders such as Down syndrome (trisomy 21) and Edwards syndrome (trisomy 18) as early as nine weeks. Panorama also tests for unique microdeletions and is the only test that can detect zygosity and fetal sex in twins.
Natera also offers Horizon, a carrier-screening test that uses next-generation sequencing to provide carrier status for up to 274 genetic conditions. Additionally, Natera offers the Anora products of conception (POC) miscarriage test, the Spectrum preimplantation genetic screening and diagnosis test, and the Vistara single-gene prenatal screening test. In 2020, Natera launched Empower, a hereditary cancer test that screens for up to 53 genes associated with increased risk for common hereditary cancers.
Oncology
Signatera is the first circulating tumor DNA (ctDNA) assay built for molecular residual disease (MRD) detection and cancer recurrence monitoring. In 2020, Signatera received the CE Mark, as well as final Medicare coverage in stage II-III colorectal cancer and draft coverage in immunotherapy response monitoring. Signatera has been clinically validated to detect colorectal cancer recurrence up to 16.5 months in advance of radiologic imaging and early-stage breast cancer up to two years earlier than imaging.
Organ health
The Prospera test is the first assay with high sensitivity to both T-cell-mediated and antibody-mediated rejection. In December 2019, the test received final Medicare coverage. In 2020, Natera launched Renasight, a test to determine if there is a genetic cause for an individual's kidney disease and if there may be other at-risk relatives.
Read the full text
Constellation
Natera offers a cloud-based bioinformatics platform called Constellation, allowing laboratories to access and use Natera's technology in their own facilities. Constellation is currently only available outside of the United States.
Feb 27, 2025Reported quarterly or annual results57
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
1,101 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 45 major events, 762 insider forms, 29 large holders, 245 other. The latest 20:
609 open-market trades by officers, directors and large owners since October 2021: 2 buys and 607 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).17
Risk factors and legal proceedings
The risks Natera names in Item 1A of its 10-K filed Feb 27, 2026: 55 risks under these headings, as written.17
Risks Related to Our Business and Industry
If we are unable to successfully grow revenues for our products or services, and if our efforts to further increase the use and adoption of our products or to develop new products and services in the future do not succeed, our business will be harmed.
We have incurred net losses since our inception and we anticipate that we will continue to incur losses for the near future, which could harm our future business prospects.
Uncertainty in the development and commercialization of our enhanced or new tests or services could materially adversely affect our business, financial condition and results of operations.
Our quarterly results may fluctuate from period to period, which could adversely impact the value of our common stock.
Competition in our industry is intense; if we are unable to compete successfully with respect to our current or future products or services, we may be unable to increase or sustain our revenues or achieve profitability.
We rely on internal and third-party data centers and platforms to host our laboratory and cloud-based software, and any interruptions of service or failures may impair our operations and harm our business.
If our products do not perform as expected, our operating results, reputation and business will suffer.
We rely on third-party laboratories to perform portions of our service offerings.
If our CLIA-certified laboratory facilities become inoperable, we will be unable to perform our tests and our business will be harmed.
We rely on a limited number of suppliers or, in some cases, single suppliers, for some of our laboratory instruments and materials and may not be able to find replacements or immediately transition to alternative suppliers.
We rely on commercial courier delivery services to transport samples to our facilities in a timely and cost-efficient manner and if these delivery services are disrupted, our business may be harmed.
The other 44 risks
Security breaches, loss of data and other disruptions, including with respect to cybersecurity, could compromise sensitive information related to our business or prevent us from accessing critical information and expose us to liability, which could adversely affect our business and reputation.
We are incorporating artificial intelligence across various areas of our business, which presents risks that could adversely affect our business and results of operations.
The marketing, sale, and use of our tests could result in substantial damages arising from product liability, professional liability, or other claims that exceed our resources.
If we are unable to successfully scale our operations, our business could suffer.
If our sales, distribution, development or other partnerships are not successful and we are not able to offset the resulting impact through our own efforts or through agreements with new partners, our commercialization activities may be impaired and our financial results could be adversely affected.
Our financial condition and results of operations may be adversely affected by international regulatory and business risks.
If we lose the services of our founder and Executive Chairman, our Chief Executive Officer, or other members of our senior management team, we may not be able to execute our business strategy.
We may engage in acquisitions, dispositions or other strategic transactions that could disrupt our business, cause dilution to our stockholders or reduce our financial resources.
We are involved in legal proceedings, regulatory investigations and inquiries and other legal matters, which may have an adverse effect on our business, financial condition, results of operations and prospects.
We may need to raise additional capital, and if we cannot do so when needed or on commercially acceptable terms, we will be required to slow or cease our investment in our product development and commercialization plans, which would have an adverse effect on our business.
We have incurred indebtedness that may decrease our business flexibility, access to capital, and/or increase our borrowing costs, which may adversely affect our operations and financial results.
Recent macroeconomic pressures resulting from ongoing geopolitical or other matters may have an adverse impact on our business, financial results and prospects.
Ethical, legal and social concerns related to the use of genetic information could reduce demand for our tests.
Our ability to utilize our net operating loss carryforwards and certain other tax attributes may be limited.
Our estimates of total addressable market opportunity and forecasts of market growth may prove to be inaccurate, and even if the markets in which we compete achieve the forecasted growth, our business could fail to grow at similar rates.
Risks Related to Reimbursement
If we are unable to expand, maintain or obtain third-party payer coverage and reimbursement for Signatera, Panorama, Horizon, and our other tests, or if we are required to refund any reimbursements already received, our revenues and results of operations would be adversely affected.
Our revenues may be adversely affected if we are unable to successfully obtain reimbursement from the Medicare program and state Medicaid programs.
Our revenues may be adversely impacted if third-party payers withdraw coverage or provide lower levels of reimbursement due to changing policies, billing complexities or other factors.
Regulatory and Compliance Risks
We may be subject to increased compliance risks as a result of our rapid growth, including our dependence on our sales, marketing and billing efforts.
If the FDA were to begin actively regulating our tests, we could incur substantial costs and delays associated with trying to obtain premarket 510(k) clearance, de novo classification, or premarket approval and incur costs associated with complying with post-market controls.
We may not be able to obtain approval from the FDA for Signatera PMAs currently under review or for applications that we may submit to FDA in the future.
Failure to obtain necessary regulatory approvals may adversely affect our ability to expand our operations internationally.
Changes in laws and regulations, or in their application, may adversely affect our business, financial condition and results of operations.
If we fail to comply with federal, state and foreign laboratory licensing requirements, we could lose the ability to perform our tests or experience disruptions to our business.
Changes in government spending or healthcare policy could increase our costs and negatively impact coverage and reimbursement for our tests by governmental and commercial third-party payers.
If we or our laboratory distribution partners, consultants or commercial partners act in a manner that violates healthcare fraud and abuse laws or otherwise engage in misconduct, we may be subject to civil or criminal penalties.
Failure to comply with privacy and security laws and regulations could result in fines, penalties and damage to our reputation and have a material adverse effect on our business.
Changes in the way the FDA regulates the reagents, other consumables, and testing equipment we use when developing, validating, and performing our tests could result in delay or additional expense in bringing our tests to market or performing such tests for our customers.
Our use of hazardous materials in the development of our tests exposes us to risks related to accidental contamination or injury and requires us to comply with regulations governing hazardous waste materials.
If the validity of an informed consent from a patient intake for Panorama or our other tests is challenged, we could be precluded from billing for such testing, forced to stop performing such tests, or required to repay amounts previously received, which would adversely affect our business and financial results.
Risks Related to Our Intellectual Property
Litigation or other proceedings resulting from either third-party claims of intellectual property infringement, or asserting infringement by third parties of our technology, is costly, time-consuming, and could limit our ability to commercialize our products or services.
Any inability to effectively protect our proprietary technologies could harm our competitive position.
If we are not able to adequately protect our trade secrets and other proprietary information, the value of our technology and products could be significantly diminished.
If our trademarks and trade names are not adequately protected, we may not be able to establish or maintain name recognition in our markets of interest, and our business may be adversely affected.
We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties.
Risks Related to Ownership of Our Common Stock
The market price of our common stock has been and may be volatile, which could subject us to litigation.
If we are unable to implement and maintain effective internal controls over financial reporting in the future, investors may lose confidence in the accuracy and completeness of our financial reports and the market price of our common stock could be adversely affected.
We do not intend to pay dividends on our capital stock so any returns will be limited to changes in the value of our common stock.
Future sales and issuances of our common stock or rights to purchase common stock, including pursuant to our equity incentive plans or in connection with acquisitions or strategic or commercial transactions, could result in additional dilution of the percentage ownership of our stockholders and could cause the price of our common stock to decline.
Sales of a substantial number of shares of our common stock in the public markets could cause the price of our common stock to decline.
If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price and trading volume could decline.
Provisions in our amended and restated certificate of incorporation, amended and restated bylaws, and Delaware law might discourage, delay or prevent a change in control of our company or changes in our management and, therefore, depress the market price of our common stock.
Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware is the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
Changes in accounting standards and their interpretations could adversely affect our operating results.
Legal proceedings
From time to time, we are involved in legal proceedings. The results of such legal proceedings and claims cannot be predicted with certainty, and regardless of the outcome, legal proceedings could have an adverse impact on us because of defense and settlement costs, diversion of resources and other factors.
For information regarding certain current legal proceedings, see “Note 10—Commitments and Contingencies—Legal Proceedings” in the Notes to Consolidated Financial Statements, which is incorporated herein by reference.
