Guardant Health Inc. is a precision oncology company that specializes in liquid biopsy tests for cancer detection, monitoring, and treatment. The company’s flagship product, Guardant360, drives revenue through diagnostic testing and strategic collaborations with healthcare providers and pharmaceutical firms. Led by CEO Helmy Eltoukhy, Guardant Health has established a competitive edge in genomic profiling within the molecular diagnostics market. It is now focused on expanding its product portfolio and global reach despite facing regulatory and market challenges.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
982,021
739,016
563,948
449,538
Cost of Sales
349,007
289,799
227,052
156,325
Gross Profit
633,014
449,217
336,896
293,213
Selling, General & Administrative Expenses
706,071
545,058
451,027
463,784
Research & Development Expenses
364,191
347,753
367,194
373,807
Other Operating Expenses
—
—
83,400
—
Operating Profit
(437,248)
(443,594)
(564,725)
(544,378)
Interest and Investment Income
34,095
53,691
35,365
6,069
Interest Expense
(3,897)
(2,581)
(2,578)
(2,577)
Non-Operating Income
(10,490)
(42,605)
53,174
(112,563)
Total Non-Operating Income
19,708
8,505
85,961
(109,071)
Income Before Provision for Income Taxes
(417,540)
(435,089)
(478,764)
(653,449)
Provision for Income Taxes
(1,263)
1,284
985
1,139
Consolidated Net Income
(416,277)
(436,373)
(479,449)
(654,588)
Net Income Attributable to Common Shareholders
(416,277)
(436,373)
(479,449)
(654,588)
Basic EPS
-3.32
-3.56
-4.28
-6.41
Diluted EPS
-3.32
-3.56
-4.28
-6.41
Basic Weighted Average Shares Outstanding
125,374
122,745
111,988
102,178
Diluted Weighted Average Shares Outstanding
125,374
122,745
111,988
102,178
Shares Outstanding
130,635
123,994
121,630
102,619
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
378,203
525,540
1,133,540
141,647
Short-Term Investments
823,395
314,438
35,097
869,584
Total Cash and Cash Equivalents
1,201,600
839,978
1,168,630
1,011,230
Accounts Receivable
137,849
110,253
88,783
97,256
Total Trade Receivables
137,849
110,253
88,783
97,256
Inventories
85,876
71,083
61,948
51,598
Other Current Assets
40,723
33,800
27,741
31,509
Total Current Assets
1,466,050
1,055,110
1,347,110
1,191,590
Net Property, Plant & Equipment
304,764
279,078
302,712
341,921
Net Intangible Assets
25,921
6,760
8,979
11,727
Goodwill
77,257
3,290
3,290
3,290
Other Long-Term Assets
139,671
141,367
124,334
61,453
Total Assets
2,013,660
1,485,610
1,786,420
1,609,990
Accounts Payable
54,442
38,551
51,741
175,817
Accrued Expenses
197,535
151,564
136,211
—
Unearned Revenue
50,753
35,468
17,965
17,403
Total Current Liabilities
302,730
225,583
205,917
193,220
Long-Term Debt
1,504,000
1,142,550
1,139,970
1,137,390
Leases
178,463
164,292
185,848
210,015
Other Long-Term Liabilities
127,773
92,834
96,006
9,179
Total Long-Term Liabilities
1,810,240
1,399,670
1,421,820
1,356,590
Total Liabilities
2,112,970
1,625,260
1,627,740
1,549,810
Common Stock
1
1
1
1
Additional Paid-in Capital
2,900,060
2,443,790
2,304,220
1,742,110
Accumulated Other Comprehensive Income
(4,852)
(5,201)
(3,675)
(19,522)
Retained Earnings
(2,994,510)
(2,578,240)
(2,141,860)
(1,662,410)
Total Common Shareholders' Equity
(99,307)
(139,647)
158,684
60,180
Total Shareholders' Equity
(99,307)
(139,647)
158,684
60,180
Total Liabilities and Shareholders' Equity
2,013,660
1,485,610
1,786,420
1,609,990
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(416,277)
(436,373)
(479,449)
(654,588)
Depreciation & Amortization
39,736
42,387
42,881
35,962
Share-Based Compensation Expense
166,217
140,411
90,759
94,685
Other Adjustments
39,993
74,579
(33,006)
152,914
Changes in Trade Receivables
(28,175)
(21,389)
8,378
375
Changes in Inventories
(14,792)
(9,135)
(10,350)
(20,926)
Changes in Accounts Payable
52,749
(2,820)
5,191
60,328
Changes in Accrued Expenses
—
—
83,400
—
Changes in Unearned Revenue
19,455
18,663
1,733
9,873
Changes in Other Operating Activities
(43,666)
(46,181)
(34,512)
11,914
Cash from Operating Activities
(184,760)
(239,858)
(324,975)
(309,463)
Capital Expenditure
(48,306)
(35,085)
(20,486)
(77,461)
Purchases of Investments
(827,231)
(314,823)
(635,495)
(327,723)
Proceeds from Sale of Investments
307,323
88,600
1,496,230
555,000
Payments for Business Acquisitions
(58,988)
—
—
—
Cash from Investing Activities
(627,202)
(261,308)
840,250
149,816
Issuance of Long-Term Debt
402,500
—
—
—
Net Issuance / (Repayments) of Long-Term Debt
402,500
—
—
—
Issuance of Common Shares
360,140
14,838
482,544
11,941
Repurchases of Common Shares
(75,545)
(15,681)
(11,197)
(7,878)
Net Issuance / (Repurchases) of Common Shares
284,595
(843)
471,347
4,063
Other Financing Activities
(15,962)
(153)
6,028
(193,156)
Cash from Financing Activities
671,133
(996)
477,375
(189,093)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
491
(1,770)
(911)
(1,600)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash