Natera, Inc.

For the three months ended June 30, 2026 and 2025, approximately 16.5% and 14.1%, respectively, of total revenue were paid by traditional Medicare on behalf of multiple customers.

For the three months ended March 31, 2026 and 2025, approximately 14.8% and 14.0%, respectively, of total revenue were paid by traditional Medicare on behalf of multiple customers.

For the years ended December 2025, 2024, and 2023, approximately 13.6%, 12.1%, and 12.8%, respectively, of total revenue were paid by Medicare on behalf of multiple customers.

For the three months ended September 30, 2025 and 2024, approximately 13.6% and 12.6%, respectively, of total revenue were paid by traditional Medicare on behalf of multiple customers.

In addition, if we obtain FDA clearance, approval or de novo classification for any of our tests as an in vitro diagnostic, or IVD, such issues with suppliers or the components that we source from suppliers could affect our commercialization efforts for such an IVD, as further described in the risk factor entitled “Regulatory and Compliance Risks—If the FDA were to begin actively regulating our tests, we could incur substantial costs and delays associated with trying to obtain premarket clearance or approval and incur costs associated with complying with post-market controls.” Our failure to maintain a continued supply of components, or a supply that meets our quality control requirements, or changes to or termination of our agreements or inability to renew our agreements with these parties or enter into new agreements with other suppliers, particularly in the case of sole suppliers such as Streck and Illumina, could result in the loss of access to important components of our tests and impact our test performance or affect our ability to perform our tests in a timely manner or at all, which could impair, delay or suspend our commercialization activities.

For example, revenue under our agreement with Natera accounted for 30% of our total revenue for the year ended December 31, 2024 and only 8% of our total revenue for the year ended December 31, 2025.

Multiple customers have provided more than 10% of total revenue in the periods presented, or accounted for more than 10% of accounts receivable at each respective balance sheet date, as follows: Revenue Accounts Receivable Three Months Ended June 30, Six Months Ended June 30, June 30, 2026 December 31, 2025 2026 2025 2026 2025 Merck & Co., Inc. (1) 37% 11% 30% * 49% 12% VA MVP 13% 19% 15% 20% * * ModernaTX, Inc. 12% 29% 14% 28% * * Natera, Inc. * 13% * 13% * * US Department of Veterans Affairs * * * * * 24% AstraZeneca UK Limited * * * * * 10% * Less than 10% of revenue or accounts receivable.(1) Consists of related party revenue and related party accounts receivable, respectively.

Multiple customers have provided more than 10% of total revenue in the periods presented, or accounted for more than 10% of accounts receivable at each respective balance sheet date, as follows: Revenue Accounts Receivable Three Months Ended March 31, March 31, 2026 December 31, 2025 2026 2025 Merck & Co., Inc. (1) 19% * 33% 12% VA MVP 16% 20% * * Moderna, Inc. 16% 27% 14% * Natera, Inc. * 12% * * Genentech, Inc. * * 22% * US Department of Veterans Affairs * * * 24% AstraZeneca UK Ltd * * * 10% * Less than 10% of revenue or accounts receivable (1) Consists of related party revenue and related party receivable, respectively.

Natera accounted for 8% and 30% of our revenue for the years ended December 31, 2025 and 2024, respectively.

Multiple customers have provided more than 10% of total revenue in the periods presented, or accounted for more than 10% of accounts receivable at each respective balance sheet date, as follows: Revenue Accounts Receivable Three Months Ended September 30, Nine Months Ended September 30, September 30, 2025 December 31, 2024 2025 2024 2025 2024 ModernaTX, Inc. 19% 33% 25% 28% 11% * Regeneron Pharmaceuticals 19% * * * 19% * Pfizer Inc. 11% * * * 12% 25% Natera, Inc. * 20% 10% 31% * 13% Merck & Co., Inc. * * * * 18% 31% VA MVP * 17% 15% 11% * * * Less than 10% of revenue or accounts receivable.Significant Accounting PoliciesAs of September 30, 2025, the Company’s significant accounting policies are consistent with those discussed in Note 2 - “Summary of Significant Accounting Policies” in its consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

MINIMAL RESIDUAL DISEASE TESTING SERVICES