Revenue Growth and Performance - Revenue for Q1 2024 was $168.5 million, a 31% increase from $128.7 million in Q1 2023[4] - Precision oncology revenue grew 38% to $156.2 million in Q1 2024, driven by a 20% increase in clinical testing volume and a 37% increase in biopharma testing volume[4] - The company raised 2024 revenue guidance to $675-$685 million, representing 20-21% growth compared to the previous range of $655-$670 million[14] - Guardant Health reported 46,900 clinical tests and 8,450 biopharma tests in Q1 2024, representing year-over-year increases of 20% and 37%, respectively[5] - The Medicare reimbursement rate for Guardant360 LDT increased to $5,000 effective January 1, 2024, contributing to revenue growth[4] Profitability and Financial Metrics - Non-GAAP gross profit was $105.3 million in Q1 2024, up from $77.7 million in Q1 2023, with a gross margin of 63% compared to 60% in the prior year[2] - Free cash flow improved to $(37.2) million in Q1 2024 from $(82.0) million in Q1 2023[5] - Non-GAAP net loss improved to $56.4 million in Q1 2024 from $108.5 million in Q1 2023[6] - GAAP net loss improved from $(133,533) thousand in Q1 2023 to $(114,985) thousand in Q1 2024[30] - Adjusted EBITDA improved from $(100,987) thousand in Q1 2023 to $(61,142) thousand in Q1 2024[30] - Non-GAAP net loss improved from $(108,527) thousand in Q1 2023 to $(56,417) thousand in Q1 2024[31] - Non-GAAP gross profit increased from $77,684 thousand in Q1 2023 to $105,321 thousand in Q1 2024[29] Operational and Testing Metrics - Guardant Health surpassed 500 peer-reviewed publications highlighting its technology in scientific literature[5] - The company anticipates FDA approval for Shield IVD in 2024 and expects rapid adoption post-launch[1] Asset and Expense Changes - Total assets decreased from $1,786,421 thousand in December 2023 to $1,704,598 thousand in March 2024[27] - Total current assets decreased from $1,347,106 thousand in December 2023 to $1,308,546 thousand in March 2024[27] - GAAP cost of precision oncology testing increased from $45,106 thousand in Q1 2023 to $59,306 thousand in Q1 2024[29] - GAAP research and development expense decreased from $93,128 thousand in Q1 2023 to $83,802 thousand in Q1 2024[29] - GAAP sales and marketing expense increased from $76,123 thousand in Q1 2023 to $80,425 thousand in Q1 2024[29] - Weighted-average shares used in computing GAAP and Non-GAAP net loss per share increased from 102,663 thousand in Q1 2023 to 121,712 thousand in Q1 2024[31]

Guardant Health (GH) is scheduled to report first-quarter 2024 results on May 9, after market close. In the last reported quarter, the company’s earnings missed expectations by 69.89%.Factors to ConsiderThe Zacks Consensus Estimate for Guardant’s total revenues is pegged at around $151 million, while the same for earnings is pegged at a loss of 72 cents per share. Both metrics indicate improvements over the year-ago quarter’s levels.Through its screening business, Guardant intends to provide critical insigh ...

Wall Street analysts expect Guardant Health (GH) to post quarterly loss of $0.72 per share in its upcoming report, which indicates a year-over-year increase of 44.6%. Revenues are expected to be $150.51 million, up 16.9% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before a company announces its earnings, it is essential to ...

Editor's note: Seeking Alpha is proud to welcome Kevin Murphy as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium. Click here to find out more » angelp/iStock via Getty Images Investment Thesis Guardant Health (NASDAQ:GH) has come under recent stock price pressure, unjustly based on the assumption that their Shield product will be uncompetitive in the CRC market and from fears of compe ...

PALO ALTO, Calif.--(BUSINESS WIRE)--Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, today announced that results from the ECLIPSE study showing the effectiveness of its ShieldTM blood test for detecting colorectal cancer (CRC) in average-risk adults will be published in the March 14 issue of The New England Journal of Medicine. “Over 50 million eligible Americans do not get recommended screenings for colorectal cancer, partly because current screening methods are inconvenient or ...

PALO ALTO, Calif.--(BUSINESS WIRE)--Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, today announced that on February 15, 2024, the Compensation Committee of Guardant’s Board of Directors approved the granting of restricted stock units (“RSUs”) representing 218,236 shares of its common stock to 82 new non-executive employees and non-qualified stock option awards to purchase an aggregate of 29,048 shares of its common stock to one new non-executive employee with a grant date of Febru ...

PALO ALTO, Calif.--(BUSINESS WIRE)--Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, today announced the results of a new survey showing patients and physicians overwhelmingly agree that blood-based testing could help close the colorectal cancer (CRC) screening gap by offering a more pleasant and convenient option. Conducted by The Harris Poll, the ‘Closing the Gap: CRC Screening Insights’ survey was commissioned by Guardant Health to better understand perceptions and attitudes i ...

Financial Performance - Q4 2023 revenue reached $155.1 million, a 22% year-over-year growth compared to $126.9 million in Q4 2022[5,45] - Full year 2023 revenue was $563.9 million, a 25% year-over-year increase from $449.5 million in 2022[5,45] - The company is initiating full year 2024 revenue guidance excluding screening at $655 million to $670 million, representing 16% - 19% year-over-year growth[79] Clinical Volume and ASP - Full year clinical volumes in 2023 reached 172,900, a 39% year-over-year growth compared to 124,800 in 2022[6] - Q4 2023 clinical volumes were 46,400, a 29% year-over-year increase from 36,000 in Q4 2022[6] - Guardant360 ASP is expected to be around $2,750 in Q1 2024, after being ~$2,700 in Q3 2023 and in the range of $2,850 - $2,900 in Q4 2023[9] Product and Market Expansion - Guardant360 covered lives surpassed 300 million, and TissueNext covered lives exceeded 200 million[1] - Launched Guardant360 in China for biopharma use, with a strong pipeline of over 30 partnerships, and lifetime global biopharma partnerships exceeding 165[11] - The company upgraded to a Smart Liquid Biopsy platform for MRD (Minimal Residual Disease) detection[4,12] Minimal Residual Disease (MRD) and Screening - Guardant Reveal demonstrated 80% surveillance sensitivity in a pooled analysis across cohorts, with data to be included in Medicare CRC surveillance submission[14] - Adherence rate for first 20,000 patients tested with Shield LDT was 94%, compared to 38% – 65% compliance for standard of care[44]

For the quarter ended December 2023, Guardant Health (GH) reported revenue of $155.05 million, up 22.2% over the same period last year. EPS came in at -$1.58, compared to -$1.36 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $151.71 million, representing a surprise of +2.20%. The company delivered an EPS surprise of -69.89%, with the consensus EPS estimate being -$0.93.While investors scrutinize revenue and earnings changes year-over-year and how they compare with W ...

Guardant Health (GH) came out with a quarterly loss of $1.58 per share versus the Zacks Consensus Estimate of a loss of $0.93. This compares to loss of $1.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -69.89%. A quarter ago, it was expected that this provider of oncology testing services would post a loss of $0.93 per share when it actually produced a loss of $0.73, delivering a surprise of 21.51%.Over the last four quart ...