Financials

Guardant Health Inc. financials

GH Biotechnology

Guardant Health Inc. is a precision oncology company that specializes in liquid biopsy tests for cancer detection, monitoring, and treatment. The company’s flagship product, Guardant360, drives revenue through diagnostic testing and strategic collaborations with healthcare providers and pharmaceutical firms. Led by CEO Helmy Eltoukhy, Guardant Health has established a competitive edge in genomic profiling within the molecular diagnostics market. It is now focused on expanding its product portfolio and global reach despite facing regulatory and market challenges.

Snapshot

Guardant Health Inc. reported $982M in revenue in fiscal 2025, up 32.9% year over year, with an operating margin of -44.5%.

Revenue (FY2025)
$982M
YoY growth
+32.9%
Operating margin
-44.5%
Direction
Expanding

Financial statements

In thousands, USD · annual
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Total Revenues982,021739,016563,948449,538
Cost of Sales349,007289,799227,052156,325
Gross Profit633,014449,217336,896293,213
Selling, General & Administrative Expenses706,071545,058451,027463,784
Research & Development Expenses364,191347,753367,194373,807
Other Operating Expenses——83,400—
Operating Profit(437,248)(443,594)(564,725)(544,378)
Interest and Investment Income34,09553,69135,3656,069
Interest Expense(3,897)(2,581)(2,578)(2,577)
Non-Operating Income(10,490)(42,605)53,174(112,563)
Total Non-Operating Income19,7088,50585,961(109,071)
Income Before Provision for Income Taxes(417,540)(435,089)(478,764)(653,449)
Provision for Income Taxes(1,263)1,2849851,139
Consolidated Net Income(416,277)(436,373)(479,449)(654,588)
Net Income Attributable to Common Shareholders(416,277)(436,373)(479,449)(654,588)
Basic EPS-3.32-3.56-4.28-6.41
Diluted EPS-3.32-3.56-4.28-6.41
Basic Weighted Average Shares Outstanding125,374122,745111,988102,178
Diluted Weighted Average Shares Outstanding125,374122,745111,988102,178
Shares Outstanding130,635123,994121,630102,619
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Cash and Cash Equivalents378,203525,5401,133,540141,647
Short-Term Investments823,395314,43835,097869,584
Total Cash and Cash Equivalents1,201,600839,9781,168,6301,011,230
Accounts Receivable137,849110,25388,78397,256
Total Trade Receivables137,849110,25388,78397,256
Inventories85,87671,08361,94851,598
Other Current Assets40,72333,80027,74131,509
Total Current Assets1,466,0501,055,1101,347,1101,191,590
Net Property, Plant & Equipment304,764279,078302,712341,921
Net Intangible Assets25,9216,7608,97911,727
Goodwill77,2573,2903,2903,290
Other Long-Term Assets139,671141,367124,33461,453
Total Assets2,013,6601,485,6101,786,4201,609,990
Accounts Payable54,44238,55151,741175,817
Accrued Expenses197,535151,564136,211—
Unearned Revenue50,75335,46817,96517,403
Total Current Liabilities302,730225,583205,917193,220
Long-Term Debt1,504,0001,142,5501,139,9701,137,390
Leases178,463164,292185,848210,015
Other Long-Term Liabilities127,77392,83496,0069,179
Total Long-Term Liabilities1,810,2401,399,6701,421,8201,356,590
Total Liabilities2,112,9701,625,2601,627,7401,549,810
Common Stock1111
Additional Paid-in Capital2,900,0602,443,7902,304,2201,742,110
Accumulated Other Comprehensive Income(4,852)(5,201)(3,675)(19,522)
Retained Earnings(2,994,510)(2,578,240)(2,141,860)(1,662,410)
Total Common Shareholders' Equity(99,307)(139,647)158,68460,180
Total Shareholders' Equity(99,307)(139,647)158,68460,180
Total Liabilities and Shareholders' Equity2,013,6601,485,6101,786,4201,609,990
In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Net Income(416,277)(436,373)(479,449)(654,588)
Depreciation & Amortization39,73642,38742,88135,962
Share-Based Compensation Expense166,217140,41190,75994,685
Other Adjustments39,99374,579(33,006)152,914
Changes in Trade Receivables(28,175)(21,389)8,378375
Changes in Inventories(14,792)(9,135)(10,350)(20,926)
Changes in Accounts Payable52,749(2,820)5,19160,328
Changes in Accrued Expenses——83,400—
Changes in Unearned Revenue19,45518,6631,7339,873
Changes in Other Operating Activities(43,666)(46,181)(34,512)11,914
Cash from Operating Activities(184,760)(239,858)(324,975)(309,463)
Capital Expenditure(48,306)(35,085)(20,486)(77,461)
Purchases of Investments(827,231)(314,823)(635,495)(327,723)
Proceeds from Sale of Investments307,32388,6001,496,230555,000
Payments for Business Acquisitions(58,988)———
Cash from Investing Activities(627,202)(261,308)840,250149,816
Issuance of Long-Term Debt402,500———
Net Issuance / (Repayments) of Long-Term Debt402,500———
Issuance of Common Shares360,14014,838482,54411,941
Repurchases of Common Shares(75,545)(15,681)(11,197)(7,878)
Net Issuance / (Repurchases) of Common Shares284,595(843)471,3474,063
Other Financing Activities(15,962)(153)6,028(193,156)
Cash from Financing Activities671,133(996)477,375(189,093)
Effect of Exchange Rate Changes on Cash and Cash Equivalents491(1,770)(911)(1,600)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash(140,338)(503,932)991,739(350,340)

Quarterly trend

last 8 quarters
QuarterRevenueYoY growthOperating marginOperating income
Q1 2026$302M+48.3%-40.2%$-121M
Q4 2025$281M+39.4%-43.0%$-121M
Q3 2025$265M+38.5%-37.3%$-99M
Q2 2025$232M+30.9%-45.9%$-106M
Q1 2025$203M—-54.6%$-111M
Q4 2024$202M—-62.4%$-126M
Q3 2024$191M—-61.3%$-117M
Q2 2024$177M—-56.8%$-101M
Revenue by quarter$M
$177M
Q2 '24
$191M
Q3 '24
$202M
Q4 '24
$203M
Q1 '25
$232M
Q2 '25
$265M
Q3 '25
$281M
Q4 '25
$302M
Q1 '26
64.5%
Gross margin
-44.5%
Operating margin
-42.4%
Net margin
SourceCompany financial filings (income statement, balance sheet, cash flow) Last updated

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