Guardant Health(GH) - 2025 Q3 - Quarterly Results

Revenue Performance - Revenue for Q3 2025 was $265.2 million, a 39% increase from $191.5 million in Q3 2024[4] - Total revenue for Q3 2025 reached $265.196 million, a 38.6% increase from $191.476 million in Q3 2024[28] - Oncology revenue grew 31% to $184.4 million, driven by a 40% increase in test volume[4][6] - Oncology revenue for Q3 2025 was $184.402 million, up 30.6% from $141.197 million in Q3 2024[28] - Screening revenue reached $24.1 million, primarily from approximately 24,000 Shield tests[4][6] - Biopharma and Data revenue increased by 18% to $54.7 million, attributed to milestone achievements[4][6] - Biopharma and data revenue increased to $54.731 million in Q3 2025, compared to $46.547 million in Q3 2024, reflecting a growth of 17.5%[28] Profitability and Margins - Gross profit was $171.6 million, with a gross margin of 65%, up from 61% in the prior year[5][6] - Non-GAAP gross margin for Q3 2025 was 66%, compared to 63% in Q3 2024[7][6] - Net loss for Q3 2025 was $92.7 million, an improvement from a net loss of $107.8 million in Q3 2024[9] - GAAP net loss for Q3 2025 was $92.725 million, an improvement from a net loss of $107.754 million in Q3 2024[31] - Non-GAAP net loss per share for Q3 2025 was $0.39, compared to $0.45 in Q3 2024[31] Cash Flow and Financial Position - Free cash flow for Q3 2025 was $(45.8) million, compared to $(55.3) million in the same period last year[11] - Free cash flow for Q3 2025 was $(45.763) million, a decrease from $(55.258) million in Q3 2024[35] - Cash and cash equivalents increased to $580.013 million as of September 30, 2025, up from $525.540 million at the end of 2024[26] - Total assets decreased to $1,276.786 million as of September 30, 2025, down from $1,485.609 million at the end of 2024[26] - Total liabilities slightly increased to $1,631.259 million as of September 30, 2025, compared to $1,625.256 million at the end of 2024[26] - Total stockholders' deficit widened to $(354.473) million as of September 30, 2025, compared to $(139.647) million at the end of 2024[26] Guidance and Future Outlook - The company raised its 2025 revenue guidance to $965 to $970 million, reflecting a year-over-year growth of approximately 31%[1][12] - Operating expenses for Q3 2025 were $270.6 million, up from $234.3 million in the prior year, mainly due to commercial team expansion[8]