Guardant Health (GH) Company Report

Guardant Health reported $981 million in revenue for 2025, representing 33% year-over-year growth, with Q4 2025 revenue at $280 million, up 39% year-over-year.
Oncology volumes accelerated to 276,000 tests in 2025, a 34% year-over-year increase, while Shield test volumes reached 38,000 in Q4 2025, a significant step up from 24,000 in Q3 2025.
The company ended 2025 with approximately $1.3 billion in cash and anticipates achieving free cash flow breakeven by Q4 2027, pulling forward its long-term profitability guidance by one year.
Key product developments include the Q4 2025 launch of Reveal therapy monitoring , the planned 2026 commercial launch of Reveal Ultra , and the expansion of Shield to include a multi-cancer findings report.
Strategic collaborations with Quest Diagnostics and PathGroup are set to broaden Shield's national reach in 2026, with the Quest Diagnostics collaboration on track to launch in Q1 2026.

3 days ago

Transcript

Guardant Health Reports Strong 2025 Revenue Growth and Targets 2027 Free Cash Flow Breakeven

Earnings

Guidance Update

Revenue Acceleration/Inflection

Guardant Health reported strong revenue growth in 2025, with Q4 2025 revenue of $280 million (39% YoY growth) and full-year 2025 revenue of $981 million (33% YoY growth).
The company is targeting free cash flow breakeven in Q4 2027 and reported $1.3 billion in cash at year-end 2025.
Oncology volume grew by 34% in 2025 to 276K, and Shield CRC screening volumes reached 38K in Q4 2025.
Key catalysts for 2026 include the planned launch of Guardant Reveal Ultra, Guardant360 Liquid FDA approval, and the launch of the Quest Diagnostics collaboration.

3 days ago

Presentation

Guardant Health Reports Strong 2025 Financials and Outlines Growth Drivers

Revenue Acceleration/Inflection

Guidance Update

Product Launch

Guardant Health reported $981 million in full-year 2025 revenue, representing 33% year-over-year growth, with Q4 2025 revenue at $280 million, a 39% year-over-year increase. The company ended 2025 with approximately $1.3 billion in cash and expects to achieve free cash flow breakeven by Q4 2027, accelerating its previous guidance by one year.
Oncology volumes accelerated to 276,000 tests in 2025, marking 34% year-over-year growth, driven by strong performance in Guardant360 (nearly 30% growth in Q4) and Guardant Reveal. The company launched Guardant Reveal for therapy monitoring in Q4 2025 and plans to commercially launch Reveal Ultra later in 2026.
The Shield colorectal cancer screening test, which is the first and only FDA-approved blood test for primary CRC screening , delivered 38,000 tests in Q4 2025. It secured an ADLT reimbursement rate of $1,495 confirmed until December 2027 and expanded to include multi-cancer findings reports in Q4. Strategic collaborations with Quest Diagnostics and PathGroup are expected to significantly broaden its market reach in 2026.

3 days ago

Transcript

Guardant Health Reports Strong 2025 Revenue Growth and Outlines 2026 Catalysts

Revenue Acceleration/Inflection

Guidance Update

Product Launch

Guardant Health reported strong 2025 financial results, with Q4 revenue of $280 million (39% year-over-year growth) and full-year revenue of $981 million (33% year-over-year growth), noting accelerated growth and improved financial execution.
The oncology business saw significant volume acceleration in 2025, reaching 276,000 tests (34% year-over-year growth), with Guardant360 growing 25% for the full year and Reveal being the fastest-growing product.
The Shield screening product delivered approximately 38,000 tests in Q4 2025, a substantial increase from Q3, supported by an ADLT reimbursement rate of $1,495 confirmed until December 2027, and strategic collaborations with Quest Diagnostics and PathGroup.
The company ended 2025 with approximately $1.3 billion in cash and expects to reach free cash flow breakeven by Q4 2027, a year ahead of prior guidance.
Upcoming catalysts for 2026 include the commercial launch of Reveal Ultra, new Guardant360 Liquid applications, further reimbursement progress for Reveal, and potential inclusion of Shield in ACS guidelines.

3 days ago

Transcript

Guardant Health Announces Preliminary Q4 and Full Year 2025 Results

Earnings

Revenue Acceleration/Inflection

Guardant Health reported preliminary Q4 2025 total revenue of approximately $280 million, an increase of 39% year-over-year, and full year 2025 total revenue of approximately $981 million, up 33% from 2024.
The company experienced strong volume growth, with approximately 79,000 oncology tests reported in Q4 2025 (up 38%) and 276,000 for the full year (up 34%). Shield screening tests also showed significant momentum, reaching approximately 38,000 in Q4 2025 and 87,000 for the full year.
Preliminary unaudited free cash flow was negative $54 million for Q4 2025 and negative $233 million for the full year 2025. The company held approximately $1.3 billion in cash, cash equivalents, restricted cash, and marketable debt securities as of December 31, 2025.
These financial results are preliminary and unaudited, and are subject to change as Guardant Health completes its year-end close and review procedures.

3 days ago

8-K

Guardant Health Announces Preliminary Fourth Quarter and Full Year 2025 Results

Earnings

Revenue Acceleration/Inflection

Guardant Health reported preliminary, unaudited total revenue of approximately $280 million for the fourth quarter of 2025, a 39% increase compared to the same period in 2024, and approximately $981 million for the full year 2025, a 33% increase year-over-year.
The company saw significant volume growth, with approximately 79,000 oncology tests reported in Q4 2025 (up 38%) and approximately 38,000 Shield screening tests (compared to 6,400 in Q4 2024).
Preliminary unaudited free cash flow was negative $54 million for the fourth quarter of 2025 and negative $233 million for the full year 2025.
Guardant Health held approximately $1.3 billion in cash, cash equivalents, restricted cash, and marketable debt securities as of December 31, 2025.
These results are preliminary and unaudited and are subject to change as the company completes its year-end close and review procedures.

4 days ago

Press Release

Guardant Health and Policlinico Gemelli Launch Liquid Biopsy Service in Italy

Product Launch

New Projects/Investments

Guardant Health, in partnership with Policlinico Gemelli, has launched FPG 360, an in-hospital liquid biopsy testing service in Rome, Italy.
This service utilizes Guardant360® CDx technology to provide local access to comprehensive genomic profiling for Italian cancer patients, eliminating the need to send samples abroad.
The collaboration with Policlinico Gemelli, a major oncology hospital in Italy treating over 50,000 patients annually, expands Guardant Health's presence in Europe, following similar partnerships in Barcelona and London.
This initiative aims to broaden access to precision oncology diagnostics for a significant patient population, given approximately 400,000 new malignant tumor cases are registered annually in Italy.

Dec 11, 2025, 6:33 AM

Press Release

Guardant Health Outlines 2028 Revenue Targets and Path to Profitability

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Guardant Health projects $2.2 billion in revenue by 2028, with oncology products (Guardant360, Reveal) expected to contribute $1.4 billion, biopharma $300 million, and screening (Shield) $500 million.
The company is committed to achieving breakeven by the end of 2027 and anticipates overall gross margins for its portfolio to be in the 65-70% range by 2028.
Shield's long-term average selling price (ASP) target is over $700, with a clear pathway to reduce its cost per test to $200, aiming for long-term operating margins in the 20%+ region.
Guardant360 continues to demonstrate strong growth, nearing 30% year-over-year, driven by increased orders per ordering oncologist and SMART apps, with potential for further growth through monitoring applications.
Reveal's ASP is targeted at $1,000 by 2028, an increase from its current $600-$700, primarily through securing Medicare reimbursement for new indications.

Dec 2, 2025, 1:30 PM

Transcript

Guardant Health Outlines 2028 Financial Targets and Strategic Growth

Guidance Update

New Projects/Investments

Debt Issuance

Guardant Health projects $2.2 billion in total revenue by 2028, with oncology products (Guardant360, Guardant360 Tissue, and Reveal) expected to generate $1.4 billion and screening (Shield) $500 million.
The company is committed to achieving breakeven by the end of 2027 and anticipates overall gross margins of 65-70% by 2028.
Strategic initiatives include driving Guardant360 growth through SMART apps, positioning Reveal for therapy monitoring with an ongoing ADLT application, and expanding Shield's market reach via a partnership with Quest.
A recent capital raise was primarily used to pre-fund $490 million in convertible debt maturing at the end of 2027, reinforcing the company's financial flexibility without altering its breakeven timeline.

Dec 2, 2025, 1:30 PM

Transcript

Guardant Health Reports Strong Q3 and Outlines Key 2026 Growth Catalysts

Revenue Acceleration/Inflection

Product Launch

Guidance Update

Guardant Health reported a strong Q3 with all products performing well, notably Shield which generated $24 million in revenues last quarter and is projected to exceed $100 million in 2026.
Significant 2026 growth drivers include the launch of Reveal therapy monitoring, potential PMA approval for Guardant 360 Liquid in the latter half of 2026, and Shield partnerships with Quest and PathGroup going live early in the year.
The company is aggressively expanding its sales force, increasing from 100 reps at the start of 2025 to over 250 by year-end, with plans to reach 600-700 reps at steady state.
Shield has secured a guideline recommendation from NCCN, and an American Cancer Society (ACS) guideline inclusion is anticipated in the "very, very near future".
Guardant Health aims to increase Reveal ASPs to $1,000 by 2028 (from current $600-$700) and reduce Reveal COGS to well below $400 per test (from less than $500 this year).

Nov 19, 2025, 9:30 AM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for Guardant Health.

Q3 2025

Oct 29, 2025

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Q2 2025

Jul 30, 2025

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Q1 2025

Apr 30, 2025

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Guardant Health (GH)

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