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Guardant Health, Inc.

GH

Guardant Health, Inc. • NASDAQ
$108.42 ▲ 0.58% (+0.63)
Market Cap $13.46 B
52w High $112.43
52w Low $29.91
Dividend Yield 0%
P/E -33.67
Volume 547.72K
Outstanding Shares 124.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $265.196M ▲ $270.598M ▲ $-92.725M ▲ -34.965% ▲ $-0.74 ▲ $-82.238M ▲
Q2-2025 $232.088M ▲ $257.296M ▲ $-99.899M ▼ -43.044% ▲ $-0.8 ▼ $-88.836M ▼
Q1-2025 $203.471M ▲ $239.789M ▼ $-95.159M ▲ -46.768% ▲ $-0.77 ▲ $-83.842M ▲
Q4-2024 $201.814M ▲ $250.186M ▲ $-111.006M ▼ -55.004% ▲ $-0.9 ▼ $-99.191M ▼
Q3-2024 $191.476M $234.315M $-107.754M -56.275% $-0.88 $-96.48M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $580.013M ▼ $1.277B ▼ $1.631B ▼ $-354.473M ▼
Q2-2025 $629.143M ▼ $1.332B ▼ $1.637B ▲ $-305.475M ▼
Q1-2025 $698.572M ▼ $1.344B ▼ $1.595B ▼ $-250.789M ▼
Q4-2024 $839.978M ▼ $1.486B ▼ $1.625B ▲ $-139.647M ▼
Q3-2024 $999.069M $1.539B $1.599B $-60.096M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-92.725M ▲ $-35.413M ▲ $-14.35M ▼ $4.331M ▲ $-45.965M ▲ $-45.763M ▲
Q2-2025 $-99.899M ▼ $-60.285M ▲ $-10.649M ▼ $1.624M ▲ $-68.373M ▼ $-65.934M ▲
Q1-2025 $-95.159M ▲ $-62.689M ▲ $302.864M ▲ $-66.85M ▼ $174.098M ▲ $-67.148M ▲
Q4-2024 $-111.006M ▼ $-64.513M ▼ $10.53M ▲ $-2.935M ▼ $-58.613M ▲ $-83.388M ▼
Q3-2024 $-107.754M $-51.059M $-294.827M $-2.885M $-346.871M $-55.258M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last several years, more than doubling over the period, which shows strong demand for Guardant’s tests and services. At the same time, the company continues to post sizable operating and net losses each year. Spending on research, commercialization, and overhead is still much larger than gross profit, so the business is not yet close to break-even. Losses did widen as the company scaled up, but more recently they have started to narrow somewhat, suggesting some early operating discipline, though the path to consistent profitability is still uncertain and likely depends on continued growth and careful cost control.

Balance Sheet

Balance Sheet The balance sheet reflects a typical high‑growth, research‑heavy diagnostics company: meaningful assets and cash, but a growing accumulation of losses. Total assets have slipped from earlier peaks, and cash has come down from prior highs, even though it remains a key buffer for ongoing investment. Debt levels are relatively high compared with the company’s equity base, and equity has recently turned negative, which is a warning sign that past losses have eroded the accounting capital of the business. This structure can work for an innovative company if growth materializes, but it leaves less margin for error and increases dependence on lenders and capital markets.

Cash Flow

Cash Flow Guardant consistently spends more cash than it brings in from operations, reflecting heavy investment in R&D, clinical studies, commercial infrastructure, and data platforms. Operating cash outflows have been fairly persistent, and free cash flow has been negative every year, though there are signs of modest improvement in the most recent period. Capital spending on equipment and facilities is not extreme, so the main driver of cash burn is the core business and research activity rather than big one‑time projects. The company’s future flexibility will largely depend on how quickly cash burn narrows, how effectively it converts revenue growth into cash, and its ability to access additional funding if needed.

Competitive Edge

Competitive Edge Guardant occupies a strong strategic position in precision oncology and liquid biopsy. It is an early mover with a well‑known brand among oncologists, anchored by its Guardant360 tests and expanding portfolio. Its multi‑omic approach, which blends genomic and epigenomic insights, plus its large real‑world dataset from many thousands of tests, give it a meaningful technology and data edge. Regulatory approvals, established reimbursement for key tests, and partnerships with major pharmaceutical companies and healthcare systems add further credibility and make it harder for new entrants to replicate its footprint quickly. However, the field is crowded and fast‑moving, with intense competition from other diagnostics and genomics players, so Guardant must keep innovating and proving clinical and economic value to maintain its lead.

Innovation and R&D

Innovation and R&D Innovation is the core of Guardant’s strategy and the main reason its costs are so high. The company is pushing forward on multiple fronts: more sensitive liquid biopsies, integration of epigenomics, AI‑enhanced interpretation through its Galaxy platform, hereditary cancer testing, and broader early‑detection offerings like Shield. Its extensive clinical validation and large patent portfolio support a durable technological edge, but also require ongoing investment in trials, regulatory work, and data infrastructure. Future value creation will hinge on successful expansion of Shield into more cancers, positive trial outcomes, broader insurance coverage, and effective use of AI and big data to improve test performance and open new revenue streams. R&D remains both Guardant’s biggest strength and its main financial burden.

Summary

Guardant Health combines strong top‑line growth and a compelling, technology‑driven position in cancer diagnostics with a financially demanding business model. The company has built an impressive innovation engine, deep clinical validation, and a multi‑layered moat based on technology, data, partnerships, and regulatory approvals. At the same time, it is still far from profitability, carries meaningful debt, and burns cash each year, with negative equity signaling how heavy past losses have been. The investment case around Guardant ultimately hinges on whether its scientific and commercial advantages translate into enough scale and operating leverage to offset continued R&D and commercial spending, and on how well it manages funding needs and competitive pressures along the way.

NEWS

November 12, 2025 · 8:05 AM UTC

Guardant Health Announces Launch of Single Namespace Group Uniting Leading Technology, Healthcare and Research Institutions to Set Global Standard for Exabyte-Scale Data Access

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November 10, 2025 · 8:05 AM UTC

Guardant Health Expands Tissue-Free Reveal Test to Include Late-Stage Therapy Response Monitoring

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November 7, 2025 · 8:00 AM UTC

Guardant Health to Participate in Upcoming Investor Conferences

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November 6, 2025 · 6:35 PM UTC

Guardant Health Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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November 6, 2025 · 8:05 AM UTC

New Study Validates Guardant Reveal Blood Test's Effectiveness in Monitoring Chemotherapy Response

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