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% | -4.6% |
| 2024 | $739M | $-390M | $-436M | $-275M | 312.5% | 31.0% | -9.0% |
| 2023 | $564M | $-433M | $-479M | $-345M | -302.1% | 25.5% | -26.8% |
| 2022 | $450M | $-615M | $-655M | $-387M | -1087.7% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 449.54 | 563.95 | 739.02 | 982.02 |
| Operating 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 |
| Research And Development | - | 373.81 | 367.19 | 347.75 | 364.19 |
| Selling General And Administration | - | 463.78 | 451.03 | 545.06 | 706.07 |
| Total Expenses | - | 993.92 | 1,128.67 | 1,182.61 | 1,419.27 |
| Operating Income | - | -544.38 | -564.72 | -443.59 | -437.25 |
| Total Operating Income As Reported | - | -544.38 | -564.72 | -443.59 | -437.25 |
| EBITDA | - | -614.91 | -433.30 | -390.12 | -373.91 |
| Normalized EBITDA | - | -614.91 | -433.30 | -390.12 | -373.91 |
| EBIT | - | -650.87 | -476.19 | -432.51 | -413.64 |
| Interest Income | - | 6.07 | 35.36 | 53.69 | 34.10 |
| Interest Expense | - | 2.58 | 2.58 | 2.58 | 3.90 |
| Net Interest Income | - | 3.49 | 32.79 | 51.11 | 30.20 |
| Other Non Operating Income Expenses | - | -112.56 | 53.17 | -42.60 | -10.49 |
| Other Income Expense | - | -112.56 | 53.17 | -42.60 | -10.49 |
| Interest Income Non Operating | - | 6.07 | 35.36 | 53.69 | 34.10 |
| Interest Expense Non Operating | - | 2.58 | 2.58 | 2.58 | 3.90 |
| Net Non Operating Interest Income Expense | - | 3.49 | 32.79 | 51.11 | 30.20 |
| Pretax Income | - | -653.45 | -478.76 | -435.09 | -417.54 |
| Tax Provision | - | 1.14 | 0.68 | 1.28 | -1.26 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -654.59 | -479.45 | -436.37 | -416.28 |
| Net Income From Continuing And Discontinued Operation | - | -654.59 | -479.45 | -436.37 | -416.28 |
| Net Income From Continuing Operation Net Minority Interest | - | -654.59 | -479.45 | -436.37 | -416.28 |
| Net Income | - | -654.59 | -479.45 | -436.37 | -416.28 |
| Net Income Common Stockholders | - | -654.59 | -479.45 | -436.37 | -416.28 |
| Net Income Including Noncontrolling Interests | - | -654.59 | -479.45 | -436.37 | -416.28 |
| Normalized Income | - | -654.59 | -479.45 | -436.37 | -416.28 |
| Diluted NI Availto Com Stockholders | - | -654.59 | -479.45 | -436.37 | -416.28 |
| Basic Average Shares | - | 102.18 | 111.99 | 122.74 | 125.37 |
| Diluted Average Shares | - | 102.18 | 111.99 | 122.74 | 125.37 |
| Reconciled Depreciation | - | 35.96 | 42.88 | 42.39 | 39.74 |
| Reconciled Cost Of Revenue | - | 156.32 | 227.05 | 289.80 | 349.01 |
| Minority Interests | -20.90 | 0 | 0 | - | - |
| General And Administrative Expense | - | 163.96 | 155.80 | 180.12 | 211.41 |
| Other Gand A | - | 163.96 | 155.80 | 180.12 | 211.41 |
| Other Operating Expenses | - | - | 83.40 | - | - |
| Selling And Marketing Expense | - | 299.83 | 295.23 | 364.94 | 494.66 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Guardant Health, Inc.this co. | GH | $17.6B | -42.38 | -177.67 | 419.2% | -50.75 |
| BridgeBio Pharma, Inc. | BBIO | $13.2B | -18.19 | -6.32 | 34.7% | -26.38 |
| Axsome Therapeutics, Inc. | AXSM | $11.9B | -65.03 | 134.91 | -207.5% | -70.25 |
| Madrigal Pharmaceuticals, Inc. | MDGL | $11.4B | -39.41 | 18.85 | -47.8% | -43.53 |
| Arrowhead Pharmaceuticals, Inc. | ARWR |
| - |
| - |
| - |
| - |
| - |
| - |
| $10.6B |
| -6491.00 |
| 22.72 |
| -0.3% |
| 65.92 |
| Cytokinetics, Incorporated | CYTK | $9.8B | - | - | 119.0% | - |
| The Ensign Group, Inc. | ENSG | $9.6B | 27.92 | 4.30 | 15.4% | 19.90 |
| ImmunityBio, Inc. | IBRX | $7.6B | -21.73 | -15.26 | 70.2% | -36.08 |
| Nuvalent, Inc. | NUVL | $7.4B | -17.46 | 5.95 | -34.1% | - |
| Peer Median | - | -21.73 | 5.95 | 7.5% | -31.23 | |