• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Guardant Health Reports Fourth Quarter and Full Year 2024 Financial Results and Provides 2025 Outlook

    2/20/25 4:05:00 PM ET
    $GH
    Medical Specialities
    Health Care
    Get the next $GH alert in real time by email

    Full year 2024 total revenue growth of 31% driven by strong clinical oncology volume growth, Guardant360 ASP tailwinds, and product upgrades

    Expects full year 2025 total revenue to be in the range of $850 to $860 million

    Guardant Health, Inc. (NASDAQ:GH), a leading precision oncology company, today reported financial results for the quarter and full year ended December 31, 2024.

    Fourth Quarter 2024 Financial Highlights

    For the three-month period ended December 31, 2024, as compared to the same period of 2023:

    • Total revenue of $201.8 million, an increase of 30%
    • Reported approximately 57,300 oncology clinical tests (excluding Shield) and approximately 11,050 biopharma tests, an increase of 24% and 16%, respectively
    • Reported approximately 6,400 Shield screening tests, with revenue of $4.1 million

    Full Year 2024 Financial Highlights

    For the twelve-month period ended December 31, 2024, as compared to the same period of 2023:

    • Total revenue of $739.0 million, an increase of 31%
    • Reported approximately 206,700 oncology clinical tests (excluding Shield) and approximately 40,500 biopharma tests, an increase of 20% and 35%, respectively
    • Improved full year 2024 free cash flow burn to $275 million, compared to $345 million for the full year 2023

    Recent Operating Highlights

    • Received Medicare coverage for Guardant Reveal on Smart Liquid Biopsy platform for colorectal cancer surveillance
    • Shield selected by NIH for inclusion in the Vanguard multi cancer detection study based on strong feasibility data in predicting presence of ten cancer types and cancer site of origin
    • Shield selected for a government funded population scale screening program in Abu Dhabi and surrounding regions
    • Entered into a collaboration with ConcertAI to create a differentiated data-as-a-service platform that integrates comprehensive EMR records with both genomic and epigenomic tumor profiling data to accelerate cancer therapy research and development
    • Entered into a strategic collaboration with Boehringer Ingelheim to develop a companion diagnostic for zongertinib to detect specific mutations in non-small cell lung cancer
    • Completed a convertible debt exchange to extend the maturity on $600 million of outstanding debt

    "We fired on all cylinders throughout 2024, delivering remarkable revenue growth and upgrading our products to our smart liquid biopsy platform," said Helmy Eltoukhy, co-founder and co-CEO. "Last month, we were pleased to receive Medicare reimbursement for Guardant Reveal in the CRC surveillance setting, which was an important milestone for our MRD business. We are entering 2025 with a strong oncology product portfolio and anticipate volume acceleration across all our products this year."

    "We made strong progress with Shield during Q4, our first full quarter since commercial launch," said AmirAli Talasaz, co-founder and co-CEO. "We screened thousands of patients with our simple blood test and are looking forward to scaling our impact quickly. Beyond CRC, the selection of Shield for the NIH Vanguard study underscores the strength of our platform and establishes our leadership in the field of multi cancer detection. With a robust pipeline of catalysts in front of us, we are excited to execute on the opportunities ahead in 2025."

    Fourth Quarter 2024 Financial Results

    Revenue was $201.8 million for the fourth quarter of 2024, a 30% increase from $155.1 million for the corresponding prior year period. Precision oncology revenue grew 30%, to $184.6 million for the fourth quarter of 2024, from $142.2 million for the corresponding prior year period, driven by an increase in the volume of clinical tests (i.e., Guardant360, TissueNext, Response, and Reveal tests) and biopharma tests, which grew 24% and 16%, respectively, over the prior year period. The increase in precision oncology revenue was also attributable to an increase in reimbursement for our tests, due to an increase in Medicare reimbursement for our Guardant360 LDT test to $5,000, effective January 1, 2024; and an increase in both Medicare Advantage and commercial payer reimbursement. Development services and other revenue was $17.2 million for the fourth quarter of 2024, compared to $12.9 million for the corresponding prior year period. Other revenue includes $4.1 million derived from approximately 6,400 Shield screening tests reported in the fourth quarter of 2024.

    Gross profit, or total revenue less cost of precision oncology testing and cost of development services and other, was $124.2 million for the fourth quarter of 2024, an increase of $31.7 million from $92.5 million for the corresponding prior year period. Gross margin, or gross profit divided by total revenue, was 62%, as compared to 60% for the corresponding prior year period. Precision oncology gross margin was 62% in the fourth quarter of 2024, as compared to 60% in the prior year period. Development services and other gross margin was 53% in the fourth quarter of 2024, as compared to 60% in the prior year period.

    Non-GAAP gross profit was $126.4 million for the fourth quarter of 2024, an increase of $31.8 million, from $94.5 million for the corresponding prior year period. Non-GAAP gross margin was 63% for the fourth quarter of 2024, as compared to 61% for the corresponding prior year period.

    Non-GAAP gross profit excluding screening was $126.3 million for the fourth quarter of 2024, an increase of $29.0 million, from $97.3 million for the corresponding prior year period. Non-GAAP gross margin excluding screening was 64% for the fourth quarter of 2024, as compared to 63% for the corresponding prior year period.

    Operating expenses (research and development expense, sales and marketing expense, and general and administrative expense) were $250.2 million for the fourth quarter of 2024, as compared to $206.6 million for the corresponding prior year period. Other operating expense was $83.4 million for the fourth quarter of 2023, related to a non-recurring legal accrual. No such other operating expense was recorded for the same period of 2024. Non-GAAP operating expenses were $214.7 million for the fourth quarter of 2024, as compared to $183.1 million for the corresponding prior year period.

    Net loss was $111.0 million for the fourth quarter of 2024, as compared to $187.0 million for the corresponding prior year period. Net loss per share was $0.90 for the fourth quarter of 2024, as compared to $1.58 for the corresponding prior year period. The year-over-year improvement in net loss was primarily due to the non-recurring $83.4 million legal accrual recorded in 2023.

    Non-GAAP net loss was $77.3 million for the fourth quarter of 2024, as compared to $75.9 million for the corresponding prior year period. Non-GAAP net loss per share was $0.62 for the fourth quarter of 2024, as compared to $0.64 for the corresponding prior year period.

    Adjusted EBITDA loss was $78.4 million for the fourth quarter of 2024, as compared to a $78.4 million loss for the corresponding prior year period.

    Free cash flow for the fourth quarter of 2024 was $(83.4) million, as compared to $(82.8) million for the corresponding prior year period.

    Full Year 2024 Financial Results

    Revenue was $739.0 million for 2024, a 31% increase from $563.9 million for the corresponding prior year period. Precision oncology revenue grew 34%, to $687.9 million for 2024, from $514.2 million for the corresponding prior year period, driven by an increase in the volume of clinical tests (i.e., Guardant360, TissueNext, Response, and Reveal tests) and biopharma tests, which grew 20% and 35%, respectively, over the prior year period. The increase in precision oncology revenue was also attributable to an increase in reimbursement for our tests, due to an increase in Medicare reimbursement for our Guardant360 LDT test to $5,000, effective January 1, 2024; an increase in both Medicare Advantage and commercial payer reimbursement; and an approximately $22 million non-recurring, out of period revenue upside for 2024 resulting from better than expected cash collections from prior years. Development services and other revenue was $51.1 million for 2024, compared to $49.7 million for the corresponding prior year period. Other revenue includes $5.1 million derived from Shield screening tests reported in 2024 following the FDA approval.

    Gross profit, or total revenue less cost of precision oncology testing and cost of development services and other, was $449.2 million for 2024, an increase of $112.3 million from $336.9 million for the corresponding prior year period. Gross margin, or gross profit divided by total revenue, was 61%, as compared to 60% for the corresponding prior year period. Precision oncology gross margin was 62% in the year of 2024, as compared to 60% in the prior year period. Development services and other gross margin was 43% in the year of 2024, as compared to 57% in the prior year period.

    Non-GAAP gross profit was $459.6 million for 2024, an increase of $114.7 million, from $344.9 million for the corresponding prior year period. Non-GAAP gross margin was 62% for 2024, as compared to 61% for the corresponding prior year period.

    Non-GAAP gross profit excluding screening was $466.9 million for 2024, an increase of $111.2 million, from $355.7 million for the corresponding prior year period. Non-GAAP gross margin excluding screening was 64% for 2024, as compared to 63% for the corresponding prior year period.

    Operating expenses (research and development expense, sales and marketing expense, and general and administrative expense) were $892.8 million for 2024, as compared to $818.2 million for the corresponding prior year period. Other operating expense was $83.4 million for 2023, related to the non-recurring legal accrual discussed above. No such other operating expense was recorded for 2024. Non-GAAP operating expenses were $757.3 million for 2024, as compared to $729.2 million for the corresponding prior year period.

    Net loss was $436.4 million for 2024, as compared to $479.4 million for the corresponding prior year period. Net loss per share was $3.56 for 2024, as compared to $4.28 for the corresponding prior year period. The year-over-year improvement in net loss was primarily due to the non-recurring $83.4 million legal accrual recorded in 2023, $37.7 million year-over-year improvement in loss from operations, excluding the legal accrual impact, $29.1 million of impairment recorded for our non-marketable equity security investments and other related assets in 2023 and $18.3 million increase in interest income, partially offset by $124.1 million negative change in fair value adjustments recorded for our marketable equity security investment in Lunit, Inc.

    Non-GAAP net loss was $247.2 million for 2024, as compared to $352.3 million for the corresponding prior year period. Non-GAAP net loss per share was $2.01 for 2024, as compared to $3.15 for the corresponding prior year period.

    Adjusted EBITDA loss was $257.5 million for 2024, as compared to a $344.2 million loss for the corresponding prior year period.

    Free cash flow for 2024 was $(274.9) million, as compared to $(345.5) million for the corresponding prior year period.

    Cash, cash equivalents, restricted cash and marketable debt securities were $944.2 million as of December 31, 2024. In addition, the aggregate principal amount of the 2027 Convertible Senior Notes (the "2027 Notes") was $1.15 billion as of December 31, 2024.

    In February 2025, Guardant Health entered into privately negotiated exchange agreements with certain holders of the outstanding 0% 2027 Notes, pursuant to which Guardant Health issued $600.0 million aggregate principal amount of 1.25% Convertible Senior Notes due 2031 (the "New Notes") in exchange for the retirement of $659.3 million aggregate principal amount of the 2027 Notes (the "Transaction"). Total transaction costs related to the issuance of the New Notes were approximately $12.4 million. In connection with the Transaction, Guardant Health repurchased $45.0 million of shares of its common stock from certain participants in the Transaction through a financial intermediary at a price of $46.09 per share, which was the last reported sale price of its common stock on February 6, 2025 (the "Stock Repurchase"). As of December 31, 2024, pro forma for the Transaction and the Stock Repurchase, cash, cash equivalents, restricted cash and marketable debt securities would have been $886.8 million, and the aggregate principal amount of the 2027 Notes would have been $490.7 million, and the aggregate principal amount of the New Notes would have been $600.0 million, respectively.

    2025 Guidance

    Guardant Health expects full year 2025 revenue to be in the range of $850 to $860 million, representing growth of 15% to 16% compared to full year 2024. Excluding non-recurring, out of period revenue recorded in 2024, this range implies total revenue growth of 19% to 20% in 2025.

    Within this revenue range,

    • Oncology revenue is expected to grow approximately 15% year over year in 2025. Excluding non-recurring, out of period revenue recorded in 2024, this range implies oncology revenue growth of approximately 20%. Oncology clinical volume is expected to accelerate to approximately 25% growth in 2025 compared to 20% growth in 2024.
    • Screening revenue is expected to be in the range of $25 to $30 million, driven by 45,000 to 50,000 Shield test volume.
    • Biopharma & data revenue growth is expected to be in the low double-digit range.

    Guardant Health expects full year 2025 non-GAAP gross margin to be in the range of 62% to 63%, compared to 62% in 2024. Guardant Health expects total non-GAAP operating expenses to be in the range of $815 to $825 million, representing an 8 to 9% increase compared to 2024, due to the commercial ramp to support Shield while both R&D and G&A are expected to be approximately flat year over year. Guardant Health expects free cash flow burn to be in the range of $225 to $235 million in 2025, an improvement compared to $275 million for the full year 2024. This includes approximately $200 million of screening net cash burn. Guardant Health expects the remainder of the business excluding screening to reach free cash flow breakeven in the fourth quarter of 2025.

    Webcast Information

    Guardant Health will host a conference call to discuss the fourth quarter and full year 2024 financial results after market close on Thursday, February 20, 2025 at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at http://investors.guardanthealth.com. The webcast will be archived and available for replay for at least 90 days after the event.

    Non-GAAP Measures

    Guardant Health has presented in this release certain financial information in accordance with U.S. Generally Accepted Accounting Principles (GAAP) and also on a non-GAAP basis, including non-GAAP cost of precision oncology testing, non-GAAP cost of development services and other, non-GAAP cost of screening, non-GAAP gross profit, non-GAAP gross profit excluding screening, non-GAAP research and development expense, non-GAAP sales and marketing expense, non-GAAP general and administrative expense, non-GAAP other operating expense, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss per share, basic and diluted, adjusted EBITDA, and free cash flow.

    We define our non-GAAP measures as the applicable GAAP measure adjusted for the impacts of stock-based compensation and related employer payroll tax payments, contingent consideration, amortization of intangible assets, unrealized and realized gains and losses on marketable equity securities, impairment of non-marketable equity securities and other related assets, and other non-recurring items.

    Adjusted EBITDA is defined as net loss adjusted for interest income; interest expense; other income (expense), net; provision for (benefit from) income taxes; depreciation and amortization expense; stock-based compensation expense and related employer payroll tax payments; contingent consideration; and other non-recurring items. Free cash flow is defined as net cash used in operating activities in the period less purchases of property and equipment in the period.

    We believe that the exclusion of certain income and expenses in calculating these non-GAAP financial measures can provide a useful measure for investors when comparing our period-to-period core operating results, and when comparing those same results to that published by our peers. We exclude certain items because we believe that these income and expenses do not reflect expected future operating performance. Additionally, certain items are inconsistent in amounts and frequency, making it difficult to perform a meaningful evaluation of our current or past operating performance. We use these non-GAAP financial measures to evaluate ongoing operations, for internal planning and forecasting purposes, and to manage our business.

    These non-GAAP financial measures are not intended to be considered in isolation from, as substitute for, or as superior to, the corresponding financial measures prepared in accordance with GAAP. There are limitations inherent in non-GAAP financial measures because they exclude charges and credits that are required to be included in a GAAP presentation, and do not present the full measure of our recorded costs against its revenue. In addition, our definition of the non-GAAP financial measures may differ from non-GAAP measures used by other companies.

    About Guardant Health

    Guardant Health is a leading precision oncology company focused on guarding wellness and giving every person more time free from cancer. Founded in 2012, Guardant is transforming patient care and accelerating new cancer therapies by providing critical insights into what drives disease through its advanced blood and tissue tests, real-world data and AI analytics. Guardant tests help improve outcomes across all stages of care, including screening to find cancer early, monitoring for recurrence in early-stage cancer, and treatment selection for patients with advanced cancer. For more information, visit guardanthealth.com and follow the company on LinkedIn, X (Twitter) and Facebook.

    Forward Looking Statements

    This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding the potential utilities, values, benefits and advantages of Guardant Health's liquid biopsy tests or assays, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions, and actual outcomes and results could differ materially from these statements due to a number of factors. These and additional risks and uncertainties that could affect Guardant Health's financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" and elsewhere in its Annual Report on Form 10-K for the year ended December 31, 2024, and in its other reports filed with or furnished to the Securities and Exchange Commission thereafter. The forward-looking statements in this press release are based on information available to Guardant Health as of the date hereof, and Guardant Health disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Guardant Health's views as of any date subsequent to the date of this press release.

    Guardant Health, Inc.

    Condensed Consolidated Statements of Operations

    (unaudited)

    (in thousands, except per share data)

     

    Three Months Ended December 31,

     

    Twelve Months Ended December 31,

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

     

     

     

     

     

     

    Revenue:

     

     

     

     

     

     

     

    Precision oncology testing

    $

    184,585

     

     

    $

    142,189

     

     

    $

    687,936

     

     

    $

    514,249

     

    Development services and other

     

    17,229

     

     

     

    12,865

     

     

     

    51,080

     

     

     

    49,699

     

    Total revenue

     

    201,814

     

     

     

    155,054

     

     

     

    739,016

     

     

     

    563,948

     

    Costs and operating expenses:

     

     

     

     

     

     

     

    Cost of precision oncology testing

     

    69,465

     

     

     

    57,417

     

     

     

    260,581

     

     

     

    205,528

     

    Cost of development services and other

     

    8,128

     

     

     

    5,100

     

     

     

    29,218

     

     

     

    21,524

     

    Research and development expense

     

    93,543

     

     

     

    89,856

     

     

     

    347,753

     

     

     

    367,194

     

    Sales and marketing expense

     

    104,763

     

     

     

    79,127

     

     

     

    364,935

     

     

     

    295,227

     

    General and administrative expense

     

    51,880

     

     

     

    37,665

     

     

     

    180,123

     

     

     

    155,800

     

    Other operating expense

     

    —

     

     

     

    83,400

     

     

     

    —

     

     

     

    83,400

     

    Total costs and operating expenses

     

    327,779

     

     

     

    352,565

     

     

     

    1,182,610

     

     

     

    1,128,673

     

    Loss from operations

     

    (125,965

    )

     

     

    (197,511

    )

     

     

    (443,594

    )

     

     

    (564,725

    )

    Interest income

     

    11,653

     

     

     

    13,888

     

     

     

    53,691

     

     

     

    35,365

     

    Interest expense

     

    (645

    )

     

     

    (645

    )

     

     

    (2,581

    )

     

     

    (2,578

    )

    Other income (expense), net

     

    4,667

     

     

     

    (3,316

    )

     

     

    (42,605

    )

     

     

    53,174

     

    Loss before provision for income taxes

     

    (110,290

    )

     

     

    (187,584

    )

     

     

    (435,089

    )

     

     

    (478,764

    )

    Provision for (benefit from) income taxes

     

    716

     

     

     

    (541

    )

     

     

    1,284

     

     

     

    685

     

    Net loss

    $

    (111,006

    )

     

    $

    (187,043

    )

     

    $

    (436,373

    )

     

    $

    (479,449

    )

    Net loss per share, basic and diluted

    $

    (0.90

    )

     

    $

    (1.58

    )

     

    $

    (3.56

    )

     

    $

    (4.28

    )

    Weighted-average shares used in computing net loss per share, basic and diluted

     

    123,754

     

     

     

    118,508

     

     

     

    122,745

     

     

     

    111,988

     

    Guardant Health, Inc.

    Condensed Consolidated Balance Sheets

    (unaudited)

    (in thousands, except share and per share data)

     

    December 31, 2024

     

    December 31, 2023

    ASSETS

     

     

     

    Current assets:

     

     

     

    Cash and cash equivalents

    $

    525,540

     

     

    $

    1,133,537

     

    Short-term marketable debt securities

     

    314,438

     

     

     

    35,097

     

    Accounts receivable, net

     

    110,253

     

     

     

    88,783

     

    Inventory, net

     

    71,083

     

     

     

    61,948

     

    Prepaid expenses and other current assets, net

     

    33,800

     

     

     

    27,741

     

    Total current assets

     

    1,055,114

     

     

     

    1,347,106

     

    Restricted cash

     

    104,215

     

     

     

    150

     

    Property and equipment, net

     

    136,813

     

     

     

    145,096

     

    Right-of-use assets, net

     

    142,265

     

     

     

    157,616

     

    Intangible assets, net

     

    6,760

     

     

     

    8,979

     

    Goodwill

     

    3,290

     

     

     

    3,290

     

    Other assets, net

     

    37,152

     

     

     

    124,184

     

    Total Assets

    $

    1,485,609

     

     

    $

    1,786,421

     

    LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

     

     

     

    Current liabilities:

     

     

     

    Accounts payable

    $

    38,551

     

     

    $

    51,741

     

    Accrued compensation

     

    83,219

     

     

     

    72,736

     

    Accrued expenses

     

    68,345

     

     

     

    63,475

     

    Deferred revenue

     

    35,468

     

     

     

    17,965

     

    Total current liabilities

     

    225,583

     

     

     

    205,917

     

    Convertible senior notes, net

     

    1,142,547

     

     

     

    1,139,966

     

    Long-term operating lease liabilities

     

    164,292

     

     

     

    185,848

     

    Other long-term liabilities

     

    92,834

     

     

     

    96,006

     

    Total Liabilities

     

    1,625,256

     

     

     

    1,627,737

     

    Stockholders' equity (deficit):

     

     

     

    Common stock, par value of $0.00001 per share; 350,000,000 shares authorized as of December 31, 2024 and December 31, 2023; 123,994,006 and 121,629,861 shares issued and outstanding as of December 31, 2024 and December 31, 2023, respectively

     

    1

     

     

     

    1

     

    Additional paid-in capital

     

    2,443,788

     

     

     

    2,304,220

     

    Accumulated other comprehensive loss

     

    (5,201

    )

     

     

    (3,675

    )

    Accumulated deficit

     

    (2,578,235

    )

     

     

    (2,141,862

    )

    Total Stockholders' Equity (Deficit)

     

    (139,647

    )

     

     

    158,684

     

    Total Liabilities and Stockholders' Equity (Deficit)

    $

    1,485,609

     

     

    $

    1,786,421

     

    Guardant Health, Inc.

    Reconciliation of Selected GAAP Measures to Non-GAAP Measures

    (unaudited)

    (in thousands, except per share data)

     

    Three Months Ended December 31,

     

    Twelve Months Ended December 31,

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

     

     

     

     

     

     

    GAAP cost of precision oncology testing

    $

    69,465

     

     

    $

    57,417

     

     

    $

    260,581

     

     

    $

    205,528

     

    Amortization of intangible assets

     

    (151

    )

     

     

    (151

    )

     

     

    (601

    )

     

     

    (599

    )

    Stock-based compensation expense and related employer payroll tax payments

     

    (1,337

    )

     

     

    (1,164

    )

     

     

    (5,429

    )

     

     

    (4,727

    )

    Non-GAAP cost of precision oncology testing

    $

    67,977

     

     

    $

    56,102

     

     

    $

    254,551

     

     

    $

    200,202

     

     

     

     

     

     

     

     

     

    GAAP cost of development services and other

    $

    8,128

     

     

    $

    5,100

     

     

    $

    29,218

     

     

    $

    21,524

     

    Amortization of intangible assets

     

    —

     

     

     

    (201

    )

     

     

    (267

    )

     

     

    (804

    )

    Stock-based compensation expense and related employer payroll tax payments

     

    (656

    )

     

     

    (466

    )

     

     

    (4,065

    )

     

     

    (1,857

    )

    Non-GAAP cost of development services and other

    $

    7,472

     

     

    $

    4,433

     

     

    $

    24,886

     

     

    $

    18,863

     

     

     

     

     

     

     

     

     

    GAAP gross profit

    $

    124,221

     

     

    $

    92,537

     

     

    $

    449,217

     

     

    $

    336,896

     

    Amortization of intangible assets

     

    151

     

     

     

    352

     

     

     

    868

     

     

     

    1,403

     

    Stock-based compensation expense and related employer payroll tax payments

     

    1,993

     

     

     

    1,630

     

     

     

    9,494

     

     

     

    6,584

     

    Non-GAAP gross profit

    $

    126,365

     

     

    $

    94,519

     

     

    $

    459,579

     

     

    $

    344,883

     

     

     

     

     

     

     

     

     

    GAAP cost of screening

    $

    4,702

     

     

    $

    3,453

     

     

    $

    16,810

     

     

    $

    13,476

     

    Amortization of intangible assets

     

    —

     

     

     

    (201

    )

     

     

    (267

    )

     

     

    (804

    )

    Stock-based compensation expense and related employer payroll tax payments

     

    (656

    )

     

     

    (466

    )

     

     

    (4,065

    )

     

     

    (1,857

    )

    Non-GAAP cost of screening

    $

    4,046

     

     

    $

    2,786

     

     

    $

    12,478

     

     

    $

    10,815

     

    Screening revenue

     

    4,121

     

     

     

    —

     

     

     

    5,124

     

     

     

    —

     

    Non-GAAP gross profit excluding screening

    $

    126,290

     

     

    $

    97,305

     

     

    $

    466,933

     

     

    $

    355,698

     

     

     

     

     

     

     

     

     

    GAAP research and development expense

    $

    93,543

     

     

    $

    89,856

     

     

    $

    347,753

     

     

    $

    367,194

     

    Stock-based compensation expense and related employer payroll tax payments

     

    (12,397

    )

     

     

    (9,409

    )

     

     

    (51,212

    )

     

     

    (35,286

    )

    Contingent consideration

     

    —

     

     

     

    (450

    )

     

     

    (675

    )

     

     

    (2,082

    )

    Non-GAAP research and development expense

    $

    81,146

     

     

    $

    79,997

     

     

    $

    295,866

     

     

    $

    329,826

     

     

     

     

     

     

     

     

     

    GAAP sales and marketing expense

    $

    104,763

     

     

    $

    79,127

     

     

    $

    364,935

     

     

    $

    295,227

     

    Stock-based compensation expense and related employer payroll tax payments

     

    (8,997

    )

     

     

    (6,438

    )

     

     

    (36,871

    )

     

     

    (25,095

    )

    Non-GAAP sales and marketing expense

    $

    95,766

     

     

    $

    72,689

     

     

    $

    328,064

     

     

    $

    270,132

     

     

     

     

     

     

     

     

     

    GAAP general and administrative expense

    $

    51,880

     

     

    $

    37,665

     

     

    $

    180,123

     

     

    $

    155,800

     

    Amortization of intangible assets

     

    (340

    )

     

     

    (339

    )

     

     

    (1,351

    )

     

     

    (1,345

    )

    Stock-based compensation expense and related employer payroll tax payments

     

    (13,519

    )

     

     

    (7,081

    )

     

     

    (44,410

    )

     

     

    (25,098

    )

    Contingent consideration

     

    (250

    )

     

     

    120

     

     

     

    (1,010

    )

     

     

    (110

    )

    Non-GAAP general and administrative expense

    $

    37,771

     

     

    $

    30,365

     

     

    $

    133,352

     

     

    $

    129,247

     

     

     

     

     

     

     

     

     

    GAAP other operating expense

    $

    —

     

     

    $

    83,400

     

     

    $

    —

     

     

    $

    83,400

     

    Non-recurring other operating expense

     

    —

     

     

     

    (83,400

    )

     

     

    —

     

     

     

    (83,400

    )

    Non-GAAP other operating expense

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

    $

    —

     

     

     

     

     

     

     

     

     

    GAAP loss from operations

    $

    (125,965

    )

     

    $

    (197,511

    )

     

    $

    (443,594

    )

     

    $

    (564,725

    )

    Amortization of intangible assets

     

    491

     

     

     

    691

     

     

     

    2,219

     

     

     

    2,748

     

    Stock-based compensation expense and related employer payroll tax payments

     

    36,906

     

     

     

    24,558

     

     

     

    141,987

     

     

     

    92,063

     

    Contingent consideration

     

    250

     

     

     

    330

     

     

     

    1,685

     

     

     

    2,192

     

    Non-recurring other operating expense

     

    —

     

     

     

    83,400

     

     

     

    —

     

     

     

    83,400

     

    Non-GAAP loss from operations

    $

    (88,318

    )

     

    $

    (88,532

    )

     

    $

    (297,703

    )

     

    $

    (384,322

    )

     

     

     

     

     

     

     

     

    GAAP net loss

    $

    (111,006

    )

     

    $

    (187,043

    )

     

    $

    (436,373

    )

     

    $

    (479,449

    )

    Amortization of intangible assets

     

    491

     

     

     

    691

     

     

     

    2,219

     

     

     

    2,748

     

    Stock-based compensation expense and related employer payroll tax payments

     

    36,906

     

     

     

    24,558

     

     

     

    141,987

     

     

     

    92,063

     

    Contingent consideration

     

    250

     

     

     

    330

     

     

     

    1,685

     

     

     

    2,192

     

    Non-recurring other operating expense

     

    —

     

     

     

    83,400

     

     

     

    —

     

     

     

    83,400

     

    Unrealized and realized (gains) losses on marketable equity securities

     

    (2,824

    )

     

     

    4,803

     

     

     

    44,401

     

     

     

    (79,710

    )

    Impairment of non-marketable equity securities and other related assets

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    29,054

     

    Non-recurring other income

     

    (1,100

    )

     

     

    (2,631

    )

     

     

    (1,100

    )

     

     

    (2,631

    )

    Non-GAAP net loss

    $

    (77,283

    )

     

    $

    (75,892

    )

     

    $

    (247,181

    )

     

    $

    (352,333

    )

     

     

     

     

     

     

     

     

    GAAP net loss per share, basic and diluted

    $

    (0.90

    )

     

    $

    (1.58

    )

     

    $

    (3.56

    )

     

    $

    (4.28

    )

    Non-GAAP net loss per share, basic and diluted

    $

    (0.62

    )

     

    $

    (0.64

    )

     

    $

    (2.01

    )

     

    $

    (3.15

    )

    Weighted-average shares used in computing GAAP and Non-GAAP net loss per share, basic and diluted

     

    123,754

     

     

     

    118,508

     

     

     

    122,745

     

     

     

    111,988

     

    Reconciliation of GAAP Net Loss to Adjusted EBITDA

    (unaudited)

    (in thousands)

     

    Three Months Ended December 31,

     

    Twelve Months Ended December 31,

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

     

     

     

     

     

     

    GAAP net loss

    $

    (111,006

    )

     

    $

    (187,043

    )

     

    $

    (436,373

    )

     

    $

    (479,449

    )

    Interest income

     

    (11,653

    )

     

     

    (13,888

    )

     

     

    (53,691

    )

     

     

    (35,365

    )

    Interest expense

     

    645

     

     

     

    645

     

     

     

    2,581

     

     

     

    2,578

     

    Other expense (income), net

     

    (4,667

    )

     

     

    3,316

     

     

     

    42,605

     

     

     

    (53,174

    )

    Provision for (benefit from) income taxes

     

    716

     

     

     

    (541

    )

     

     

    1,284

     

     

     

    685

     

    Depreciation and amortization

     

    10,454

     

     

     

    10,868

     

     

     

    42,387

     

     

     

    42,881

     

    Stock-based compensation expense and related employer payroll tax payments

     

    36,906

     

     

     

    24,558

     

     

     

    141,987

     

     

     

    92,063

     

    Contingent consideration

     

    250

     

     

     

    330

     

     

     

    1,685

     

     

     

    2,192

     

    Non-recurring other operating expense

     

    —

     

     

     

    83,400

     

     

     

    —

     

     

     

    83,400

     

    Adjusted EBITDA

    $

    (78,355

    )

     

    $

    (78,355

    )

     

    $

    (257,535

    )

     

    $

    (344,189

    )

    Reconciliation of Free Cash Flow to Net Cash Used in Operating Activities

    (unaudited)

    (in thousands)

     

     

    Three Months Ended December 31,

     

    Twelve Months Ended December 31,

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

     

     

     

     

     

     

    Net cash used in operating activities

    $

    (64,513

    )

     

    $

    (78,728

    )

     

    $

    (239,858

    )

     

    $

    (324,975

    )

    Purchases of property and equipment

     

    (18,875

    )

     

     

    (4,077

    )

     

     

    (35,085

    )

     

     

    (20,486

    )

    Free cash flow

    $

    (83,388

    )

     

    $

    (82,805

    )

     

    $

    (274,943

    )

     

    $

    (345,461

    )

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250220619253/en/

    Investor Contact:

    Zarak Khurshid

    [email protected]

    Media Contact:

    Melissa Marasco

    [email protected]

    +1 650-647-3711

    Get the next $GH alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $GH

    DatePrice TargetRatingAnalyst
    4/10/2025$55.00Outperform
    Mizuho
    1/23/2025$60.00Overweight
    Barclays
    6/28/2024$36.00Neutral → Buy
    Guggenheim
    6/3/2024$32.00Buy
    Jefferies
    4/24/2024$28.00Buy
    Craig Hallum
    12/14/2023Neutral
    Guggenheim
    12/13/2023Peer Perform
    Wolfe Research
    11/13/2023$27.00Mkt Perform → Outperform
    Raymond James
    More analyst ratings

    $GH
    Leadership Updates

    Live Leadership Updates

    See more
    • Guardant Health Joins Forces With Dak Prescott's Faith Fight Finish Foundation and Feist-Weiller Cancer Center's Partners in Wellness to Boost Colon Cancer Screening in Underserved Communities

      Foundation's grant to mobile cancer screening program in Louisiana allows individuals to be screened with Guardant's Shield™ blood test in their own community Mobile screening events to be held during Colorectal Cancer Awareness Month (March) throughout northern and central Louisiana Guardant Health, Inc. (NASDAQ:GH), a leading precision oncology company, today announced a collaboration with Dak Prescott's Faith Fight Finish Foundation and the mobile cancer screening program, Partners in Wellness, an initiative of LSU Health Shreveport and Ochsner LSU Health—Feist-Weiller Cancer Center, to increase colorectal cancer screening rates in northern and central Louisiana. This press release

      3/5/25 8:05:00 AM ET
      $GH
      Medical Specialities
      Health Care
    • Roberto A. Mignone Joins Guardant Health Board of Directors

      Guardant Health, Inc. (NASDAQ:GH), a pioneer in precision oncology, today announced the appointment of Roberto A. Mignone to its board of directors, effective immediately. Mr. Mignone is the Founder and Managing Partner of Bridger Management LLC, an investment management firm founded in 2000 and specializing in long-term equity strategies. "We are fortunate to welcome Roberto Mignone to our board of directors, bringing his healthcare industry expertise, long-term vision, and business acumen to our company," said Helmy Eltoukhy, chairman and co-CEO of Guardant Health. "We look forward to Mr. Mignone's perspective as we strengthen our product offerings across the continuum of care, and look

      10/24/24 5:05:00 PM ET
      $GH
      Medical Specialities
      Health Care
    • Dr. Manuel Hidalgo Medina Joins Guardant Health Board of Directors

      Guardant Health, Inc. (NASDAQ:GH), a pioneer in precision oncology, today announced the appointment of Dr. Manuel Hidalgo Medina to its board of directors, effective immediately. Dr. Hidalgo currently serves as Chief of the Division of Hematology and Medical Oncology at Weill Cornell Medicine and NewYork-Presbyterian/Weill Cornell Medical Center. "Dr. Hidalgo brings a wealth of expertise and leadership in translational and clinical research, particularly in anticancer drug development," said Helmy Eltoukhy, chairman and co-CEO of Guardant Health. "His extensive experience in precision oncology and his commitment to advancing oncology care make him an invaluable addition to our board." A

      7/18/24 5:00:00 PM ET
      $GH
      Medical Specialities
      Health Care

    $GH
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Joyce Meghan V. converted options into 66 shares, increasing direct ownership by 0.85% to 7,846 units (SEC Form 4)

      4 - Guardant Health, Inc. (0001576280) (Issuer)

      5/5/25 9:03:07 PM ET
      $GH
      Medical Specialities
      Health Care
    • Co-Chief Executive Officer Talasaz Amirali sold $5,936,572 worth of shares (120,716 units at $49.18), decreasing direct ownership by 5% to 2,188,740 units (SEC Form 4)

      4 - Guardant Health, Inc. (0001576280) (Issuer)

      5/5/25 9:02:01 PM ET
      $GH
      Medical Specialities
      Health Care
    • Director Krognes Steve E. converted options into 155 shares, increasing direct ownership by 1% to 10,837 units (SEC Form 4)

      4 - Guardant Health, Inc. (0001576280) (Issuer)

      5/1/25 4:56:43 PM ET
      $GH
      Medical Specialities
      Health Care

    $GH
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Mizuho initiated coverage on Guardant Health with a new price target

      Mizuho initiated coverage of Guardant Health with a rating of Outperform and set a new price target of $55.00

      4/10/25 12:41:47 PM ET
      $GH
      Medical Specialities
      Health Care
    • Barclays initiated coverage on Guardant Health with a new price target

      Barclays initiated coverage of Guardant Health with a rating of Overweight and set a new price target of $60.00

      1/23/25 7:45:30 AM ET
      $GH
      Medical Specialities
      Health Care
    • Guardant Health upgraded by Guggenheim with a new price target

      Guggenheim upgraded Guardant Health from Neutral to Buy and set a new price target of $36.00

      6/28/24 7:41:07 AM ET
      $GH
      Medical Specialities
      Health Care

    $GH
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Guardant Health to Participate in Upcoming Investor Conferences

      Guardant Health, Inc. (NASDAQ:GH), a leading precision oncology company, today announced the company will be participating in the following investor conferences. BofA Securities 2025 Healthcare Conference in Las Vegas, NV Fireside chat on Wednesday, May 14th at 3:40 p.m. Pacific Time Jefferies Global Healthcare Conference in New York, NY Fireside chat on Wednesday, June 4th at 2:35 p.m. Eastern Time Goldman Sachs 46th Annual Global Healthcare Conference in Miami Beach, FL Fireside chat on Monday, June 9th at 10:00 a.m. Eastern Time Interested parties may access live and archived webcasts of the sessions on the "Investors" section of the company website at: www.guardanthealth.com.

      5/8/25 4:05:00 PM ET
      $GH
      Medical Specialities
      Health Care
    • TIME Names Guardant Health Co-CEOs to 2025 TIME100 Health List of the 100 Most Influential People in Global Health This Year

      Today TIME named to its 2025 TIME100 Health list co-CEOs Helmy Eltoukhy and AmirAli Talasaz of Guardant Health, Inc. (NASDAQ:GH), a leading precision oncology company. The list recognizes and honors the top 100 most influential people in global health this year. "The inclusion on TIME100 Health's list is more than a personal honor," said AmirAli Talasaz, Guardant Health co-CEO. "It is a recognition of the incredible technology that our Guardant team has built with the Shield blood test for colorectal cancer and Shield's ability to save lives around the world. The result of over 10 years of research and development, the Shield blood test has the promise to detect multiple cancers at an earl

      5/8/25 9:20:00 AM ET
      $GH
      Medical Specialities
      Health Care
    • Guardant Health Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

      Guardant Health, Inc. (NASDAQ:GH), a leading precision oncology company, today announced that on April 22, 2025, the Compensation Committee of Guardant's Board of Directors approved the granting of restricted stock units ("RSUs") representing 157,466 shares of its common stock to 139 new non-executive employees and two non-qualified stock option awards to purchase 19,295 shares of its common stock to two new non-executive employees with a grant date of May 2, 2025 under the Guardant Health, Inc. 2023 Employment Inducement Incentive Award Plan (the "Inducement Plan"). The RSUs and stock options were granted as inducements material to the employees entering into employment with Guardant in ac

      5/7/25 5:05:00 PM ET
      $GH
      Medical Specialities
      Health Care

    $GH
    Financials

    Live finance-specific insights

    See more
    • Guardant Health Reports First Quarter 2025 Financial Results and Increases 2025 Revenue Guidance

      Revenue growth of 21% broadly driven by strong performance across oncology, screening, and biopharma & data Raises 2025 revenue guidance to $880 to $890 million, representing growth of 19% to 20% Guardant Health, Inc. (NASDAQ:GH), a leading precision oncology company, today reported financial results for the quarter ended March 31, 2025. First Quarter 2025 Financial Highlights For the three-month period ended March 31, 2025, as compared to the same period of 2024: Reported total revenue of $203.5 million, an increase of 21%, driven by: Oncology revenue of $150.6 million, an increase of 20%, and approximately 59,000 oncology tests, an increase of 25% Screening revenue of $5.7 milli

      4/30/25 4:05:00 PM ET
      $GH
      Medical Specialities
      Health Care
    • Guardant Health to Report First Quarter 2025 Financial Results on April 30, 2025

      Guardant Health, Inc. (NASDAQ:GH), a leading precision oncology company, today announced it will report financial results for the first quarter 2025 after market close on Wednesday, April 30, 2025. Company management will webcast a corresponding conference call beginning at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time. Live audio of the webcast will be available on the "Investors" section of the company website at: www.guardanthealth.com. The webcast will be archived and available for replay after the event. About Guardant Health Guardant Health is a leading precision oncology company focused on guarding wellness and giving every person more time free from cancer. Founded in 2012, Gua

      4/10/25 4:05:00 PM ET
      $GH
      Medical Specialities
      Health Care
    • Guardant Health Reports Fourth Quarter and Full Year 2024 Financial Results and Provides 2025 Outlook

      Full year 2024 total revenue growth of 31% driven by strong clinical oncology volume growth, Guardant360 ASP tailwinds, and product upgrades Expects full year 2025 total revenue to be in the range of $850 to $860 million Guardant Health, Inc. (NASDAQ:GH), a leading precision oncology company, today reported financial results for the quarter and full year ended December 31, 2024. Fourth Quarter 2024 Financial Highlights For the three-month period ended December 31, 2024, as compared to the same period of 2023: Total revenue of $201.8 million, an increase of 30% Reported approximately 57,300 oncology clinical tests (excluding Shield) and approximately 11,050 biopharma tests, an increa

      2/20/25 4:05:00 PM ET
      $GH
      Medical Specialities
      Health Care

    $GH
    SEC Filings

    See more
    • SEC Form 10-Q filed by Guardant Health Inc.

      10-Q - Guardant Health, Inc. (0001576280) (Filer)

      4/30/25 5:10:41 PM ET
      $GH
      Medical Specialities
      Health Care
    • Guardant Health Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - Guardant Health, Inc. (0001576280) (Filer)

      4/30/25 4:11:06 PM ET
      $GH
      Medical Specialities
      Health Care
    • SEC Form DEFA14A filed by Guardant Health Inc.

      DEFA14A - Guardant Health, Inc. (0001576280) (Filer)

      4/29/25 4:35:16 PM ET
      $GH
      Medical Specialities
      Health Care

    $GH
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G filed by Guardant Health Inc.

      SC 13G - Guardant Health, Inc. (0001576280) (Subject)

      11/13/24 7:34:17 PM ET
      $GH
      Medical Specialities
      Health Care
    • SEC Form SC 13G filed by Guardant Health Inc.

      SC 13G - Guardant Health, Inc. (0001576280) (Subject)

      11/8/24 10:46:38 AM ET
      $GH
      Medical Specialities
      Health Care
    • Amendment: SEC Form SC 13G/A filed by Guardant Health Inc.

      SC 13G/A - Guardant Health, Inc. (0001576280) (Subject)

      7/5/24 10:32:48 AM ET
      $GH
      Medical Specialities
      Health Care

    $GH
    FDA approvals

    Live FDA approvals issued by the Food and Drug Administration and FDA breaking news

    See more
    • July 30, 2024 - FDA Roundup: July 30, 2024

      For Immediate Release: July 30, 2024 Today, the U.S. Food and Drug Administration is providing an at-a-glance summary of news from around the agency:  Today, the FDA is announcing the fiscal year (FY) 2025 user fee rates for importers approved to participate in the Voluntary Qualified Importer Program (VQIP) and accreditation and certification bodies interested in participating in the Accredited Third-Party C

      7/30/24 3:38:18 PM ET
      $GH
      Medical Specialities
      Health Care
    • May 28, 2021 - FDA Approves First Targeted Therapy for Lung Cancer Mutation Previously Considered Resistant to Drug Therapy

      For Immediate Release: May 28, 2021 Today, the U.S. Food and Drug Administration approved Lumakras (sotorasib) as the first treatment for adult patients with non-small cell lung cancer whose tumors have a specific type of genetic mutation called KRAS G12C and who have received at least one prior systemic therapy. This is the first approved targeted therapy for tumors with any KRAS mutation, which accounts for ap

      5/28/21 1:05:48 PM ET
      $AMGN
      $GH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
      Medical Specialities
    • May 21, 2021 - FDA Approves First Targeted Therapy for Subset of Non-Small Cell Lung Cancer

      For Immediate Release: May 21, 2021 Today, the U.S. Food and Drug Administration approved Rybrevant (amivantamab-vmjw) as the first treatment for adult patients with non-small cell lung cancer whose tumors have specific types of genetic mutations: epidermal growth factor receptor (EGFR) exon 20 insertion mutations. The FDA also approved the Guardant360 CDx (Guardant Health Inc.) as a companion diagnostic for Ry

      5/21/21 12:50:51 PM ET
      $JNJ
      $GH
      Biotechnology: Pharmaceutical Preparations
      Health Care
      Medical Specialities

    $GH
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Kalia Kumud bought $38,963 worth of shares (2,187 units at $17.82), increasing direct ownership by 21% to 12,722 units (SEC Form 4)

      4 - Guardant Health, Inc. (0001576280) (Issuer)

      3/19/24 5:29:06 PM ET
      $GH
      Medical Specialities
      Health Care