Guardant Health, Inc., a precision oncology company, provides blood and tissue tests, and data sets in the United States and internationally. The company offers Guardant360 CDx test, a liquid biopsy test for tumor mutation profiling; Guardant360 Liquid test, which measures 740+ genes and supports all guideline-recommended biomarkers; Guardant Reveal test, a blood test that utilizes circulating tumor DNA to detect cancer at the molecular level; and Guardant360 Tissue test, a molecular profiling test for tumor tissue that provides genomic, transcriptomic, and epigenomic insights. It also provides Shield blood test for colorectal cancer screening in adults. In addition, the company offers GuardantINFINITY test that provides insights into the complexities of tumor molecular profiles and immune response to advance cancer research and therapy development; GuardantOMNI test covers 500 genes, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications; GuardantINFORM, which provides longitudinal biological insight into tumor evolution alongside longitudinal clinical outcomes; and GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies. Further, it provides Smart Platform, which delivers multiomic insights leveraging genomic, epigenomic, and RNA-based data that are scalable from research to the clinic. Additionally, the company offers development services, including companion diagnostic development and regulatory approval, clinical study setup, monitoring and maintenance, testing development and support, technologies licensing, and kit fulfillment and delivery of Shield screening tests. Guardant Health, Inc. was incorporated in 2011 and is headquartered in Palo Alto, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $982M | $-374M | $-416M | $-233M | 419.2% | 32.9% | - |
| 2024 | $739M | $-390M | $-436M | $-275M | 312.5% | 31.0% | - |
| 2023 | $564M | $-433M | $-479M | $-345M | -302.1% | 25.5% | - |
| 2022 | $450M | $-615M | $-655M | $-387M | -1087.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 449.54 | 563.95 | 739.02 | 982.02 |
| Cost Of Revenue | 156.32 | 227.05 | 289.80 | 349.01 |
| Gross Profit | 293.21 | 336.90 | 449.22 | 633.01 |
| Operating Expense | 837.59 | 901.62 | 892.81 | 1,070.26 |
| Operating Income | -544.38 | -564.73 | -443.59 | -437.25 |
| EBITDA | -614.91 | -433.31 | -390.12 | -373.91 |
| EBIT | -650.87 | -476.19 | -432.51 | -413.64 |
| Pretax Income | -653.45 | -478.76 | -435.09 | -417.54 |
| Tax Provision | 1.14 | 0.69 | 1.28 | -1.26 |
| Net Income | -654.59 | -479.45 | -436.37 | -416.28 |
| Net Income Common Stockholders | -654.59 | -479.45 | -436.37 | -416.28 |
| Total Expenses | 993.92 | 1,128.67 | 1,182.61 | 1,419.27 |
| Interest Expense | 2.58 | 2.58 | 2.58 | 3.90 |
| Interest Income | 6.07 | 35.37 | 53.69 | 34.09 |
| Research And Development | 373.81 | 367.19 | 347.75 | 364.19 |
| Selling General And Administration | 463.78 | 451.03 | 545.06 | 706.07 |
| Normalized EBITDA | -614.91 | -433.31 | -390.12 | -373.91 |
| Normalized Income | -654.59 | -479.45 | -436.37 | -416.28 |
| Basic EPS | -6.41 | -4.28 | -3.56 | -3.32 |
| Diluted EPS | -6.41 | -4.28 | -3.56 | -3.32 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0 |
| Net Income From Continuing Operation Net Minority Interest | -654.59 | -479.45 | -436.37 | -416.28 |
| Reconciled Depreciation | 35.96 | 42.88 | 42.39 | 39.74 |
| Reconciled Cost Of Revenue | 156.32 | 227.05 | 289.80 | 349.01 |
| Net Interest Income | 3.49 | 32.79 | 51.11 | 30.20 |
| Net Income From Continuing And Discontinued Operation | -654.59 | -479.45 | -436.37 | -416.28 |
| Total Operating Income As Reported | -544.38 | -564.73 | -443.59 | -437.25 |
| Diluted Average Shares | 102.18 | 111.99 | 122.75 | 125.37 |
| Basic Average Shares | 102.18 | 111.99 | 122.75 | 125.37 |
| Diluted NI Availto Com Stockholders | -654.59 | -479.45 | -436.37 | -416.28 |
| Minority Interests | 0 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -654.59 | -479.45 | -436.37 | -416.28 |
| Net Income Continuous Operations | -654.59 | -479.45 | -436.37 | -416.28 |
| Other Income Expense | -112.56 | 53.17 | -42.60 | -10.49 |
| Other Non Operating Income Expenses | -112.56 | 53.17 | -42.60 | -10.49 |
| Net Non Operating Interest Income Expense | 3.49 | 32.79 | 51.11 | 30.20 |
| Interest Expense Non Operating | 2.58 | 2.58 | 2.58 | 3.90 |
| Interest Income Non Operating | 6.07 | 35.37 | 53.69 | 34.09 |
| Other Operating Expenses | 0 | 83.40 | 0 | 0 |
| Selling And Marketing Expense | 299.83 | 295.23 | 364.94 | 494.66 |
| General And Administrative Expense | 163.96 | 155.80 | 180.12 | 211.41 |
| Other Gand A | 163.96 | 155.80 | 180.12 | 211.41 |
| Operating Revenue | 449.54 | 563.95 | 739.02 | 982.02 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Guardant Health, Inc.this co. | GH | $11.1B | - | -109.75 | 419.2% | -28.87 |
| BridgeBio Pharma, Inc. | BBIO | $13.8B | - | -6.62 | 34.9% | -30.28 |
| Madrigal Pharmaceuticals, Inc. | MDGL | $12.0B | - | 19.65 | -47.8% | -37.71 |
| The Ensign Group, Inc. | ENSG | $10.9B | 31.92 | 4.82 | 15.4% | 23.43 |
| Axsome Therapeutics, Inc. | AXSM | $9.5B |
| - |
| 106.02 |
| -207.5% |
| -58.09 |
| Praxis Precision Medicines, Inc. | PRAX | $9.0B | - | 9.27 | -34.5% | -25.77 |
| Vaxcyte, Inc. | PCVX | $8.3B | - | 2.80 | -28.5% | -7.50 |
| Nuvalent, Inc. | NUVL | $7.8B | - | 6.21 | -34.1% | - |
| Cytokinetics, Incorporated | CYTK | $7.4B | - | -11.11 | 119.0% | -13.11 |
| Peer Median | - | 31.92 | 5.51 | -31.3% | -25.77 | |