Guardant Health(GH) - 2025 Q1 - Quarterly Results

Revenue Performance - Revenue for Q1 2025 was $203.5 million, a 21% increase from $168.5 million in Q1 2024[4] - Total revenue for the three months ended March 31, 2025, was $203,471,000, representing a 20.7% increase from $168,491,000 in the same period of 2024[28] - The company raised its 2025 revenue guidance to $880 to $890 million, representing growth of 19% to 20%[1] Oncology Revenue - Oncology revenue grew 20% to $150.6 million, driven by a 25% increase in oncology test volume[4] - Oncology revenue increased to $150,559,000, up 19.7% from $125,748,000 year-over-year[28] Screening Revenue - Screening revenue was $5.7 million from approximately 9,000 Shield screening tests[5] - The company expects full year 2025 screening revenue to be in the range of $40 to $45 million, driven by Shield volume of 52,000 to 58,000 tests[14] Profitability and Margins - Gross profit was $128.7 million with a gross margin of 63%, up from 61% in the prior year[6] - GAAP gross profit for Q1 2025 was $128,748,000, up from $103,195,000 in Q1 2024, marking a 24.8% increase[30] - Guardant Health achieved positive gross margins for both Reveal and Shield in Q1 2025[5] Net Loss and Cash Flow - Net loss for Q1 2025 was $95.2 million, an improvement from a net loss of $115.0 million in Q1 2024[9] - GAAP net loss for Q1 2025 was $95,159,000, compared to a net loss of $114,985,000 in Q1 2024, reflecting a 17.3% improvement[31] - Non-GAAP net loss per share for Q1 2025 was $0.49, slightly higher than $0.46 in Q1 2024[31] - Free cash flow for the three months ended March 31, 2025, was $(67,148,000), compared to $(37,218,000) in the same period of 2024, indicating increased cash usage[35] Expenses and Liabilities - Research and development expenses for Q1 2025 were $88,521,000, compared to $83,802,000 in Q1 2024, reflecting a 5.2% increase[30] - Total assets decreased to $1,344,226,000 as of March 31, 2025, down from $1,485,609,000 at the end of 2024[26] - Total liabilities decreased to $1,595,015,000 as of March 31, 2025, compared to $1,625,256,000 at the end of 2024[26] - Total stockholders' deficit increased to $(250,789,000) as of March 31, 2025, from $(139,647,000) at the end of 2024[26] Pricing - Guardant360 average selling price (ASP) increased to $3,000 to $3,100 per test[5]