Genetic testing company Natera Inc (NASDAQ:NTRA) announced on Tuesday that it recorded a net loss of USD136.3m (USD2.56 per diluted share) for fiscal year ended 31 December 2017.

This marks a decline in earnings when compared with net loss of USD95.8m (USD1.86 per diluted share) for 2016.

Total revenues of USD210.9m were generated for 2017, down 3% over revenues of USD217.1m for 2016.

The company said the decrease in 2017 revenues was primarily driven by the combined effect of lower average selling price collected from in-network payers for Panorama, partially offset by increased volume of HCS tests accessioned.

Natera also recorded operating expenses of USD205.4m for 2017, a rise of 15% versus USD178.0m in 2016. The increase in 2017 was driven primarily by an increase in personnel-related expenses, expenses associated with ongoing clinical trials and research as well as higher facility and related costs.