Summary
Guardant Health, Inc. (GH) has filed its 10-K for the fiscal year ending December 31, 2025. The company reported total revenue of $982.0 million, a significant increase of 33% from the prior year, driven by strong growth in both its Oncology and Biopharma & Data segments. Despite this revenue growth, Guardant Health continued to incur substantial net losses, reporting a net loss of $416.3 million for the year, which is an improvement from the $436.4 million net loss in 2024. The company's expansion of its sales and marketing efforts, particularly for its Shield blood test for colorectal cancer screening, contributed to increased operating expenses, with sales and marketing expenses rising 36% year-over-year. Guardant Health remains focused on its strategic objectives of expanding clinical utility, increasing reimbursement, and strengthening customer relationships across its product portfolio, which spans therapy selection, minimal residual disease detection, and early cancer screening. Financially, the company ended the year with a strong cash position of approximately $1.3 billion in cash, cash equivalents, and marketable debt securities, providing ample runway. Key developments include the FDA approval and commercial availability of the Shield blood test for colorectal cancer screening, and continued investment in R&D to expand its technology platform. However, the company continues to face significant risks related to its profitability, ongoing losses, reimbursement uncertainties from payers, competitive pressures, and potential regulatory changes.
Financial Highlights
56 data points| Revenue | $982.02M |
| Cost of Revenue | $349.01M |
| Gross Profit | $633.01M |
| R&D Expenses | $364.19M |
| Operating Expenses | $1.42B |
| Operating Income | -$437.25M |
| Interest Expense | $3.90M |
| Net Income | -$416.30M |
| EPS (Basic) | $-3.32 |
| EPS (Diluted) | $-3.32 |
| Shares Outstanding (Basic) | 125.37M |
| Shares Outstanding (Diluted) | 125.37M |
Key Highlights
- 1Total revenue increased by 33% to $982.0 million in 2025, primarily driven by a 26% increase in Oncology revenue and an 18% increase in Biopharma & Data revenue.
- 2Net loss improved slightly to $416.3 million in 2025 from $436.4 million in 2024, indicating progress towards profitability despite continued operating losses.
- 3Sales and Marketing expenses increased significantly by 36% to $494.7 million, reflecting substantial investments in commercial team expansion and marketing activities, especially for the Shield product launch.
- 4Guardant Health received FDA approval for its Shield blood test for colorectal cancer screening in adults aged 45 and older, marking a significant step in its early cancer detection strategy.
- 5The company ended the year with a robust cash position of approximately $1.3 billion, providing considerable financial flexibility for ongoing operations and strategic initiatives.
- 6Significant legal proceedings remain ongoing, including a patent infringement case with TwinStrand Biosciences, where a jury verdict of $83.4 million was awarded, and a false advertising case against Natera which resulted in a jury award of $287.0 million to Guardant Health.