GH 10-Q Quarterly Reports

Guardant Health, Inc. reported strong revenue growth of 44% year-over-year for the second quarter of 2026, reaching $335.0 million, and 46% for the first six months, totaling $636.6 million. This growth was primarily driven by a significant increase in test volumes across its oncology and, notably, its screening segment, with Shield screening test volume more than tripling. Despite this robust top-line performance, the company continued to incur substantial net losses, reporting $120.1 million for the quarter and $232.2 million for the first six months. These losses are a result of continued heavy investment in research and development, and a significant increase in sales and marketing expenses, up 59% and 60% for the respective periods, to support commercial expansion and product adoption. The company's balance sheet shows a healthy cash position of $1.2 billion as of June 30, 2026, providing ample liquidity for continued operations and investment. However, investors should note the ongoing legal proceedings, particularly the intellectual property dispute with TwinStrand Biosciences, which resulted in a significant jury verdict against Guardant Health, with a potential loss estimated between $0 and $250 million. While the company is contesting this verdict and has favorable developments in USPTO reviews of the patents, this remains a material contingent liability.

Guardant Health, Inc. reported a significant increase in revenue for the first quarter of 2026, reaching $301.7 million, a 48% jump from the prior year's $203.5 million. This growth was primarily driven by a substantial increase in test volumes across its oncology and screening segments, with the Shield screening test showing remarkable 633% revenue growth. Despite strong top-line performance, the company continued to experience operating losses, with a net loss of $112.1 million for the quarter, compared to $95.2 million in the same period last year. This widening net loss reflects increased operating expenses, particularly in sales and marketing, which grew by 62% to support commercial expansion and marketing initiatives. The company maintains a solid liquidity position with approximately $1.2 billion in cash, cash equivalents, and marketable securities as of March 31, 2026, which it believes is sufficient to fund operations for over 12 months.

Guardant Health, Inc. reported a significant increase in revenue for the third quarter and first nine months of 2025, driven by strong performance in its Oncology and Biopharma segments. Total revenue grew by 39% year-over-year for the quarter to $265.2 million and by 30% for the nine-month period to $700.8 million. Despite revenue growth, the company continues to incur net losses, reporting a net loss of $92.7 million for the third quarter and $287.8 million for the nine months ended September 30, 2025. The company's significant investments in research and development, coupled with increased sales and marketing expenses to support product launches like Shield, contribute to these ongoing losses. However, the company maintains a healthy liquidity position with $689.5 million in cash, cash equivalents, and restricted cash as of September 30, 2025, suggesting sufficient runway for operations.

Guardant Health, Inc. reported a significant increase in revenue for the second quarter and first half of 2025, driven by strong performance in its Oncology and Biopharma and Data segments. Total revenue for the three months ended June 30, 2025, was $232.1 million, up 31% year-over-year, and for the six months ended June 30, 2025, revenue reached $435.6 million, a 26% increase. The company also saw initial revenue from its newly launched Shield screening test. Despite revenue growth, Guardant Health continued to incur net losses, with a loss of $99.9 million for the quarter and $195.1 million for the first half of the year. The company's cash position remains robust with $735.5 million in cash, cash equivalents, and restricted cash as of June 30, 2025, providing ample liquidity for over 12 months. Key developments include the expanding commercial reach of the Shield test, which received National Comprehensive Cancer Network guideline inclusion and met Medicare coverage requirements, alongside continued investment in research and development. The company also successfully managed its debt structure by completing a note exchange transaction in February 2025, which retired a portion of its 2027 notes and resulted in a gain on extinguishment. Management anticipates continued investment in sales and marketing to drive adoption and expansion, particularly with the Shield product line and international growth initiatives.

Guardant Health, Inc. reported a notable increase in revenue for the first quarter of 2025, up 21% year-over-year to $203.5 million. This growth was primarily driven by strong performance in its Oncology and Biopharma and data segments, reflecting increased test volumes and improved reimbursement for key tests like Guardant360 CDx and Guardant Reveal. The company also saw the initial revenue contribution from its Shield screening test, a positive development for its early cancer detection strategy. Despite the revenue growth, the company continued to incur significant operating losses, with a net loss of $95.2 million for the quarter. This was partly due to increased investments in research and development and a substantial rise in sales and marketing expenses, particularly related to expanding its commercial team and supporting new product launches like Shield. The company's cash position remains strong at over $800 million, providing runway for continued investment. Investors will be closely watching the company's progress in commercializing its screening tests and managing its expenses to achieve profitability.

Guardant Health, Inc. reported its third-quarter 2024 financial results, showcasing robust revenue growth driven by its precision oncology testing segment. Total revenue increased by 34% year-over-year to $191.5 million, with precision oncology testing revenue growing by 35% to $180.6 million. This growth was fueled by both increased test volumes from clinical customers and biopharmaceutical clients, along with improved reimbursement rates, particularly for the Guardant360 LDT test. Despite strong top-line performance, the company continues to operate at a net loss, reporting a loss of $107.8 million for the quarter. The company maintains a healthy liquidity position with approximately $1.0 billion in cash, cash equivalents, and marketable debt securities as of September 30, 2024, providing runway for continued investment in research and development and commercial expansion. A significant development during the quarter was the achievement of performance metrics for certain performance-based restricted stock units (PSUs), leading to a cumulative charge of $23.5 million in stock-based compensation expense. While R&D expenses saw a slight decrease year-over-year, sales and marketing expenses increased significantly due to commercial team build-out and marketing efforts for product launches, including the Shield test. The company also noted progress in its intellectual property disputes and continues to advance its product pipeline and international expansion efforts.

Guardant Health, Inc. reported a significant increase in total revenue for the second quarter and first half of 2024, driven primarily by its Precision Oncology Testing segment. Total revenue for the three months ended June 30, 2024, rose by 29% year-over-year to $177.2 million, and for the six months ended June 30, 2024, revenue grew by 30% to $345.7 million. Despite revenue growth, the company continued to incur substantial net losses, with a loss of $102.6 million for the quarter and $217.6 million for the first half of the year. This is a key area for investors to monitor, as is the company's substantial cash balance of $1.0 billion as of June 30, 2024, which provides a sufficient runway for more than 12 months. A significant development during the period was the FDA approval and subsequent commercial launch of the Shield blood test for colorectal cancer screening in August 2024, positioning Guardant Health as a leader in early cancer detection.

Guardant Health, Inc. reported a 31% increase in total revenue for the first quarter of 2024, reaching $168.5 million, driven primarily by a 38% surge in precision oncology testing revenue to $156.2 million. This growth was fueled by higher test volumes and improved reimbursement rates, particularly for their Guardant360 LDT and CDx tests. Despite the top-line growth, the company continued to operate at a significant net loss of $115.0 million, though this was an improvement from the $133.5 million loss in the prior year's quarter. The company's substantial cash reserves of $1.1 billion provide a strong liquidity position, enabling continued investment in research and development, including advancements in early cancer detection tests like Shield for colorectal and lung cancer.

Guardant Health, Inc. (GH) reported strong revenue growth in its third-quarter and year-to-date filings for 2023, driven primarily by its Precision Oncology Testing segment. Total revenue increased by 22% year-over-year for the quarter to $143 million and by 27% year-to-date to $408.9 million. This growth was supported by increased test volumes in both clinical and biopharmaceutical customer segments. Despite revenue expansion, the company continued to incur significant net losses, with a Q3 net loss of $86.1 million and a year-to-date net loss of $292.4 million. However, the net loss narrowed considerably compared to the previous year, particularly for the nine-month period, indicating improved operational efficiency or cost management. The company strengthened its financial position, ending the period with $457.3 million in cash and cash equivalents and $697.5 million in short-term marketable debt securities, totaling over $1.15 billion in liquid assets. This robust liquidity is bolstered by a $381.4 million net proceeds from a follow-on public offering completed in May 2023, providing significant runway for continued investment in R&D and commercial expansion. Key developments include continued progress on the Shield test for early cancer detection, with an FDA PMA submission and positive results from the ECLIPSE study, positioning the company for potential future growth in the early detection market.

Guardant Health, Inc. reported its financial results for the second quarter and first half of 2023, highlighting significant revenue growth driven by its precision oncology testing segment. Total revenue increased by 26% year-over-year for the quarter and 30% for the first half, primarily fueled by a substantial rise in clinical testing volume. Despite this top-line growth, the company continues to operate at a loss, with net losses of $72.8 million for the quarter and $206.3 million for the first half. The company strengthened its cash position by raising $381.4 million in net proceeds from a follow-on public offering in May 2023, resulting in total cash, cash equivalents, and marketable securities exceeding $1.2 billion as of June 30, 2023. The company's strategic focus remains on expanding its early cancer detection capabilities, particularly with the Shield LDT test for colorectal cancer, which has shown promising results in clinical studies and a premarket approval application submitted to the FDA. Continued investment in research and development, alongside international expansion efforts, are key priorities. While revenue growth is encouraging, investors will be closely watching the company's path to profitability and its ability to navigate reimbursement complexities and ongoing legal proceedings.

Guardant Health, Inc. reported a total revenue of $128.7 million for the first quarter of 2023, a significant increase of 34% compared to the same period in 2022. This growth was primarily driven by the precision oncology testing segment, which saw a 35% increase in revenue, fueled by higher test volumes from both clinical customers and biopharmaceutical partners. Despite the robust revenue growth, the company continued to incur substantial operating losses, with a net loss of $133.5 million for the quarter, an increase from the $123.2 million net loss in the prior year. This widening loss is attributable to increased costs in cost of revenue and operating expenses, particularly in research and development and sales and marketing, as the company invests in product development and market expansion. As of March 31, 2023, Guardant Health maintained a strong liquidity position with approximately $937.0 million in cash, cash equivalents, and marketable debt securities, which the company believes is sufficient to fund operations for more than 12 months.

Guardant Health, Inc. reported a significant increase in revenue for the nine months ended September 30, 2022, reaching $322.6 million, up 22% year-over-year. This growth was primarily driven by its Precision Oncology testing segment, which saw a 29% increase in revenue, largely due to higher sample volumes from both clinical and biopharmaceutical customers. The company continues to invest heavily in research and development, with R&D expenses increasing by 40% for the nine-month period, reflecting its commitment to innovation and clinical studies crucial for market adoption and payer coverage. Despite revenue growth, Guardant Health continued to incur substantial net losses, with a net loss of $514.7 million for the nine months ended September 30, 2022. The company's cash position remains robust, with approximately $1.1 billion in cash, cash equivalents, and marketable debt securities as of September 30, 2022, providing sufficient runway for at least the next 12 months. However, investors should note the significant increase in sales and marketing expenses (up 65%), indicating aggressive market expansion efforts, and the ongoing legal proceedings which pose potential financial and operational risks.

Guardant Health, Inc. reported total revenue of $109.1 million for the second quarter of 2022, a 19% increase year-over-year, driven by a 27% surge in precision oncology testing revenue to $92.1 million. This growth was propelled by higher test volumes from both clinical customers and biopharmaceutical partners. However, the company continued to experience significant operating losses, with a net loss of $229.4 million for the quarter, widening from $97.6 million in the prior year period. This increased loss was primarily due to substantial investments in research and development and sales and marketing, alongside a significant one-time fair value adjustment related to the acquisition of the remaining stake in its joint venture. The company's balance sheet reflects a robust cash position of $1.2 billion in cash and marketable securities as of June 30, 2022, providing a cushion for ongoing operations and investments. Despite the widening net loss, the company has reiterated its belief that current resources are sufficient to fund its operating plan for at least the next twelve months, though it acknowledges the potential need for additional capital if its transition to profitability is not consistent with its plan. Key strategic initiatives include expanding its product pipeline with tests like Shield and Guardant SHIELD, alongside international market penetration, which are expected to drive future growth but also necessitate continued investment.

Guardant Health, Inc. (GH) reported its first-quarter 2022 financial results, demonstrating continued revenue growth driven by its precision oncology testing business. Total revenue increased by 22% year-over-year to $96.1 million, with precision oncology testing revenue up 32% to $84.1 million. This growth was fueled by a significant increase in test volumes for both clinical and biopharmaceutical customers. Despite the revenue expansion, the company continued to operate at a loss, reporting a net loss of $123.2 million for the quarter. However, the company maintains a strong liquidity position, with cash, cash equivalents, and marketable securities totaling approximately $1.6 billion as of March 31, 2022. The company highlighted strategic advancements, including regulatory approvals and new product launches. Guardant360 CDx received important regulatory approvals in Japan, expanding its international reach. The launch of the Shield LDT blood test for early colorectal cancer detection in May 2022 and the ongoing development of its investigational multi-cancer assay Guardant SHIELD indicate a commitment to early cancer detection. While operating expenses, particularly in research and development and sales and marketing, saw significant increases to support these initiatives, the company believes its current financial resources are sufficient to fund its operating plan for at least the next twelve months. Investors should closely monitor the company's ability to control escalating operating expenses and its progress in achieving broader reimbursement and adoption for its expanding diagnostic portfolio.

Guardant Health, Inc. (GH) reported a 27% increase in total revenue for the nine months ended September 30, 2021, reaching $265.5 million, compared to $208.4 million in the prior year period. This growth was primarily driven by a 26% increase in precision oncology testing revenue, which rose to $215.6 million, fueled by higher sample volumes from both clinical and biopharmaceutical customers. Despite revenue growth, the company continued to experience significant net losses, with a net loss of $312.5 million for the nine months ended September 30, 2021, compared to $153.2 million in the same period last year. This widening loss is attributed to substantial increases in research and development (R&D) and sales and marketing (S&M) expenses, which grew by 74% and 76%, respectively, as the company invests heavily in product development, clinical studies, and commercial expansion. The company maintains a strong liquidity position with $1.7 billion in cash, cash equivalents, and marketable securities as of September 30, 2021.

Guardant Health, Inc. (GH) reported strong revenue growth for the second quarter and first half of 2021, with total revenue increasing by 39% and 28% year-over-year, respectively. This growth was primarily driven by a significant increase in precision oncology testing, particularly from clinical customers, alongside a substantial rise in development services and other revenue. Despite the revenue growth, the company continued to experience significant operating losses, with a net loss of $97.6 million in Q2 2021 and $204.9 million in the first half of 2021. These losses are largely attributable to increased investments in research and development (up 75% in Q2 and 63% in H1) and sales and marketing (up 91% in Q2 and 64% in H1), reflecting the company's strategy to expand its product pipeline, commercial reach, and market adoption. The company ended the period with a robust cash position of $1.8 billion, providing ample liquidity to fund its ongoing operations and strategic initiatives. Guardant Health remains focused on expanding its test offerings and penetrating key markets, but investors should remain mindful of the significant ongoing investment required to achieve profitability and the potential impacts of reimbursement and competitive dynamics.

Guardant Health, Inc. reported a 17% increase in total revenue for the first quarter of 2021 compared to the same period in 2020, reaching $78.7 million. This growth was primarily driven by a 6% increase in precision oncology testing revenue, largely due to higher sample volumes, and a significant 106% surge in development services and other revenue, attributed to new collaboration projects with biopharmaceutical companies. Despite revenue growth, the company's net loss widened to $107.4 million from $31.8 million in the prior year's quarter. This increase in loss was largely influenced by a substantial rise in operating expenses, particularly in research and development (up 50%) and general and administrative expenses (up 243%). The significant increase in G&A expenses was notably impacted by a substantial rise in stock-based compensation, especially related to market-based restricted stock units. The company maintained a strong liquidity position, with cash and cash equivalents and marketable securities totaling approximately $1.9 billion as of March 31, 2021.

Guardant Health, Inc. reported third-quarter 2020 results showing continued revenue growth, with total revenue increasing by 23% year-over-year to $74.6 million. This growth was primarily driven by a 16% increase in precision oncology testing revenue, reaching $60.4 million, and a significant 63% surge in development services and other revenue to $14.2 million, fueled by new biopharmaceutical collaborations. Despite revenue expansion, the company continued to incur substantial net losses, amounting to $71.7 million for the quarter, a significant increase from $13.1 million in the prior year period, largely due to a substantial rise in general and administrative expenses, particularly stock-based compensation related to market-based restricted stock units. However, the company maintained a strong liquidity position with $1.1 billion in cash, cash equivalents, and marketable securities as of September 30, 2020, providing ample runway for continued investment in research and development and strategic growth initiatives.

Guardant Health, Inc. reported its second-quarter 2020 financial results, highlighting significant revenue growth driven by its precision oncology testing segment. Total revenue increased by 23% year-over-year to $66.3 million. The company experienced strong growth in clinical customer revenue, largely due to expanded Medicare coverage for its Guardant360 test. While revenue from biopharmaceutical customers saw a slight decrease, this was attributed to the timing of clinical trials. Despite revenue growth, the company continued to invest heavily in research and development, leading to an increased net loss of $49.7 million for the quarter. Significant increases in R&D and G&A expenses, partly due to substantial stock-based compensation related to executive awards, contributed to the wider loss. The company ended the quarter with a strong liquidity position, holding over $1.1 billion in cash, cash equivalents, and marketable securities, bolstered by a successful follow-on public offering in June 2020.

Guardant Health, Inc. reported a significant increase in revenue for the first quarter of 2020, driven primarily by a substantial rise in precision oncology testing, which grew by 109% year-over-year. This growth was fueled by increased test volumes from both clinical customers and biopharmaceutical clients, alongside an improved average selling price per test, partly due to new Medicare reimbursement for certain solid tumor cancers. Despite strong top-line performance, the company continued to incur net losses, with a loss of $31.8 million for the quarter, an increase from $21.4 million in the prior year's comparable period. This widening loss is attributed to significant investments in research and development, sales and marketing, and general administrative expenses, including a substantial charge for in-process research and development from a patent license acquisition. The company highlighted its strong liquidity position with over $758 million in cash, cash equivalents, and marketable securities as of March 31, 2020, which it believes is sufficient to fund operations for at least the next 12 months. However, Guardant Health also cautioned about the ongoing impact of the COVID-19 pandemic, which is disrupting operations, sales efforts, and clinical trials, leading to fewer samples being tested and a potential adverse impact on revenue and results of operations. The company is exploring the development of a COVID-19 test, though the outcome remains uncertain.

Guardant Health, Inc. (GH) reported its financial results for the quarter ending September 30, 2019. The company demonstrated significant revenue growth, driven by an increase in precision oncology testing volume. Revenue for the third quarter of 2019 surged by 181% year-over-year to $60.8 million, primarily fueled by a 185% increase in precision oncology testing revenue, reaching $52.1 million. This growth was attributed to higher test volumes from both clinical customers and biopharmaceutical partners, coupled with improved reimbursement from Medicare and favorable commercial payer interactions. Development services also saw substantial growth, increasing by 156% to $8.7 million. Despite strong revenue performance, the company continues to invest heavily in research and development (R&D) and sales and marketing, leading to an increased net loss. For the third quarter of 2019, the net loss was $13.1 million, an improvement from $23.5 million in the prior year's quarter, largely due to increased interest income from a larger cash balance following public offerings. The company ended the quarter with a robust cash position of $825.6 million, providing ample liquidity for ongoing operations and strategic investments, including advancements in its LUNAR early detection program.

Guardant Health, Inc. (GH) reported significant revenue growth in its Q2 2019 10-Q filing, driven by strong performance in its Precision Oncology Testing segment. Total revenue for the quarter reached $54.0 million, a substantial increase of 178% year-over-year, primarily fueled by a 136% surge in precision oncology testing revenue. This growth was attributed to an increase in test volumes from both clinical customers and biopharmaceutical clients, alongside expanded Medicare reimbursement for lung cancer patients. The company continues to invest heavily in research and development, with R&D expenses increasing by 69% year-over-year to $19.5 million. This investment is crucial for the development of its LUNAR early detection program and the expansion of its genomic data capabilities. While revenue growth is robust, the company also reported a net loss of $11.3 million for the quarter, indicating continued investment in expansion and product development. Significant cash reserves of $822.9 million as of June 30, 2019, resulting from recent public offerings, provide a strong liquidity position to fund these initiatives and operations for at least the next 12 months.

Guardant Health, Inc. (GH) reported its first quarter 2019 financial results, showcasing robust revenue growth driven by increased adoption of its precision oncology tests. Total revenue surged by 120% year-over-year to $36.7 million, with precision oncology testing revenue up 103% and development services revenue up 213%. This strong top-line performance reflects significant growth in test volumes, particularly from clinical customers, and expansion in biopharmaceutical collaborations. Despite the substantial revenue increase, the company continued to incur net losses, reporting a net loss of $21.4 million for the quarter, consistent with its strategy of investing heavily in research and development, sales, and marketing to fuel future growth. The company ended the quarter with a strong liquidity position, holding $153.8 million in cash and cash equivalents and $339.0 million in marketable securities, indicating sufficient funding for its operational plan for at least the next 12 months. Key strategic developments include progress in securing payer coverage, with a notable proposed Local Coverage Determination (LCD) from Palmetto GBA that could significantly expand Medicare coverage for its Guardant360 test. The company also highlighted ongoing development in its LUNAR early detection program and the recent acquisition of Bellwether Bio, Inc., signaling continued investment in innovation and expansion into new market segments like early cancer detection and screening. Management remains focused on expanding its commercial footprint, both domestically and internationally, and advancing its pipeline of diagnostic solutions.

Guardant Health, Inc. (GH) filed its quarterly report for the period ending September 30, 2018. This filing highlights the company's ongoing efforts in the precision oncology market, primarily driven by its Guardant360 test. The report details significant risks and challenges, including the company's continued history of incurring net losses, the dependence on commercial market acceptance of its products, and the complexities and uncertainties surrounding reimbursement from third-party payers, particularly Medicare. Key operational aspects discussed involve the company's reliance on its single laboratory facility and the potential impact of disruptions. Furthermore, the report emphasizes the extensive regulatory landscape governing clinical laboratory testing, including potential shifts in FDA enforcement discretion regarding Laboratory Developed Tests (LDTs), and the ongoing patent litigation with competitors such as Foundation Medicine, Inc. and Personal Genome Diagnostics, Inc. Investors should note the company's recent Initial Public Offering (IPO) in October 2018, which provided a substantial capital infusion.