Guardant Health Stock Earnings Reports

Guardant Health reported a strong Q1 2026 with revenue of $302M, up 48% year-over-year, driven by broad-based growth across Oncology, Biopharma & Data, and Screening. Oncology revenue was $205M (+36% YoY) with ~86,000 tests (volume +47% YoY); Guardant360 Liquid volumes grew ~30%, Guardant360 Tissue accelerated, and Reveal volumes doubled+ as MRD and therapy-monitoring adoption expands. Shield screening revenue reached $42M on ~44,000 tests; management highlighted March momentum from DTC campaigns, a national Quest partnership, improved rep productivity, strong adherence (>90%), and FDA approval to reduce the blood draw to 2 tubes. The company surpassed $1B trailing-12-month revenue and raised full-year 2026 guidance to $1.30B–$1.32B (growth 32%–34%), with oncology revenue growth now expected at 28%–29% and Shield volumes guided to ~230k–245k tests. Non-GAAP gross margin improved to ~66%; Shield gross margin expanded (from 18% to 56% YoY). Adjusted EBITDA loss was $59M; Q1 free cash flow burn was $71M; cash & investments were ~$1.2B. Guardant reiterated plans to continue commercial investment (S&M up materially), to reinvest incremental Shield gross profit into expansion, and to achieve company-wide cash-flow breakeven by end of 2027. Key product and regulatory catalysts include the ongoing FDA review of Guardant360 Liquid, Reveal MolDx submissions for Medicare coverage, Guardant360 Tissue transcriptome upgrade, continued Smart App development powered by InfinityAI, and additional CDx approvals and biopharma collaborations.