GH
Guardant Health, Inc.
Price as of Jul 20, 2026
GH earnings
Guardant Health, Inc. earnings
Reported EPS and revenue history, upcoming estimates and available earnings-call summaries.
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.47 | $-0.85 | -80.9% | $302M | +8.1% |
| Feb 19, 2026 | $-0.42 | $-0.50 | -19.0% | $281M | +2.0% |
| Oct 29, 2025 | $-0.48 | $-0.39 | +18.7% | $265M | -0.9% |
| Jul 30, 2025 | $-0.52 | $-0.44 | +15.4% | $232M | -1.5% |
| Apr 30, 2025 | $-0.61 | $-0.49 | +19.7% | $203M | -3.8% |
| Feb 20, 2025 | $-0.75 | $-0.62 | +17.3% | $202M | +4.8% |
| May 9, 2024 | $-0.72 | $-0.46 | +36.1% | $168M | +11.8% |
| Feb 22, 2024 | $-0.93 | $-1.58 | -69.9% | $155M | +3.7% |
| Aug 3, 2023 | $-1.25 | $-0.67 | +46.4% | $137M | +6.0% |
| Feb 23, 2023 | $-1.40 | $-1.36 | +2.9% | $127M | +2.5% |
| Nov 3, 2022 | $-1.27 | $-1.58 | -24.4% | $117M | -0.3% |
| Aug 4, 2022 | $-1.25 | $-2.25 | -80.0% | $109M | +3.9% |
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Entered 2026 with significant momentum, Q1 was remarkable with fastest year-over-year revenue growth in 5 years and surpassing $1B trailing 12-month revenue. • Story of 77-year-old Atlanta resident using Shield CRC test showing real-world impact. • Oncology business had 36% revenue growth, 47% volume growth in oncology tests. Garmin 360 Liquid 30% volume growth, Garmin 360 Tissue scaling, Reveal over 100% volume growth. • Data treasury harnesses insights from over 1M patient samples, 500,000 epigenetic profiles across over 100 tumor types. • Progress in Reveal data pipeline with submissions to MoldDx for coverage and ongoing studies. • GARDEN360 portfolio progress: FDA review on track for GARDEN 360 liquid, second major platform upgrade in tissue expanding RNA testing to transcriptome. • Strong showing at AACR with 38 abstracts presented. • Biopharma data business revenue up 17%, CDX franchise with 26 approvals, multi-year agreement with Merck. • Screening had $42M revenue, 44,000 tests, strong volume growth, DTC and influencer campaigns, Quest collaboration, SHIELD multi-cancer detection launch in Asia, reduced blood collection for Shield tests approved by FDA
Guidance
• Raised full-year 2026 revenue guidance to $1.30 - $1.32 billion, 32%-34% growth. • Oncology revenue expected to grow 28%-29% with volume growth >35%. • Biopharma and data expected to grow in low double digits. • Screening revenue expected to be $186 - $198 million, driven by Shield volume 30,000 - 245,000 tests. • Full-year non-GAAP gross margin expected 64%-65%. • 2026 non-GAAP operating expenses expected $1.05 - $1.07 billion, 16%-18% growth. • Full-year free cash flow burn expected $185 - $195 million, improvement year-over-year. Excluding screening, remainder of business expected free cash flow positive for full year 2026, aiming for company-wide cash flow breakeven by end of 2027
Segment performance
Total revenue in Q1 2026 was $302 million, a 48% year-over-year growth. Oncology revenue was $205 million, up 36% year-over-year with 86,000 tests, 47% volume growth. Garmin 360 Liquid had 30% volume growth, Garmin 360 Tissue was second fastest growing, Reveal had over 100% volume growth. Biopharma and data revenue was $53 million, up 17% year-over-year. Screening revenue was $42 million, up from $6 million in prior year period. Non-GAAP gross margin was 66% in Q1 2026, up from 65% in prior year period. Oncology revenue contribution: ~67.9% ($205M/$302M). Biopharma and data: ~17.5% ($53M/$302M). Screening: ~13.9% ($42M/$302M)
Risks & headwinds
• Forward-looking statements involve material risks and uncertainties that could cause actual results to differ. • Impact of FDA decisions on approval of Garden 360 Liquid, Reveal Ultra, camisestrant, etc. • Competitive landscape and potential impact on market share. • Uncertainty around reimbursement outcomes from submissions to MoldDx and other entities. • Weather and seasonal impacts on business operations
Analyst Q&A
Q: Mark Massaro asked about Shield volume momentum in April and reason for raising Shield volume guide.
A: Saw huge momentum in March from DTC campaigns, influencer campaigns, Quest live, EMR connectivity. New guide includes quest contribution but monitoring ongoing.
Q: Subbu Nambi asked about Garden 360 outsized growth drivers and contribution to full-year guidance.
A: Garden 360 growth due to step change in liquid biopsy capabilities, share gains, under-penetrated longitudinal testing. Growth broad-based, contribution to guidance from its outlook.
Q: Patrick Donnelly asked about Reveal market drivers and reimbursement catalyst.
A: Drivers include CRC, breast, lung cancers in surveillance and therapy monitoring. Progress with MoldDx submissions, volume as leading indicator for revenue and ASP.
Q: Doug Schenkel asked about Shield ASP expectations and CMS volume percentage.
A: Q1 Shield ASP predominantly Medicare and Medicare advantage, remainder of year mix to under 65s, ASP expected to tick down.
Q: Casey Woodring asked about Garden 360 tissue growth sustainability and ASP upside from transcriptome addition.
A: Growth sustainable with GARDEN 360 liquid approval streamlining portfolio. Transcriptome addition expected to improve ASP further via ADLP status.
Q: Puneet Soda asked about SHIELD volume cadence and G360 repeat use.
A: SHIELD volume guide implies over 10K sequential growth, monitoring DTC, Quest, rep productivity. G360 repeat use driven by multiple shots on goal for therapy monitoring, confident in future growth.
Q: Dan Arias asked about commensurate adcom and trials for therapy monitoring.
A: Confident other trials will push envelope, first paradigm shift needs mountain of evidence.
Q: Kyle Mixon asked about Shield ASP and AI strategy.
A: Remainder of year Shield ASP around $775, mix change driving tick down. AI leading in actionable insights, Infinity AI powering smart apps, building exabyte of data.
Q: Tycho Peterson asked about therapy monitoring timelines, competitive landscape, and weather impact.
A: Reveal therapy monitoring and reimbursement packages on deck as primary shots. Competitive landscape balancing organic and inorganic growth. Weather impact in Q1 normal seasonal, no catch-up expected.
Q: Bill Bonello asked about customer ordering multiple products and competitive takeaway.
A: Increasing depth of ordering with multiple products, balance of depth and share gains, mostly depth and longitudinal growth.
Q: Michael Ryskin asked about commercial Salesforce expansion and screening sales investment.
A: Oncology Salesforce scaled based on revenue per territory and ROI. Screening incremental gross profit reinvested in S&M, hiring additional sales force, DTC campaigns.
Q: Dan Brennan asked about Garden 360 volume growth drivers and multi-cancer regulatory plan.
A: Garden 360 growth due to best-in-class capabilities, FDA approval as catalyst. MCD option rate strong, on track to build largest clinical database, waiting for regulatory milestones.
Q: Brandon Coulart asked about Shield sales reps, two blood tubes impact, and ACS guidelines.
A: Sales rep number commercially sensitive, but well positioned for estimation. Two blood tubes kit approved, ACS guideline expected any day with positive conversation.
Q: Bradley Bowers asked about Reveal volume growth areas and post-breast price lift.
A: Reveal volume growth across CRC, breast, lungs, therapy monitoring. Expect price lift from Medicare coverage of breast, IO, chemo submissions
Earnings history is derived from company filings and calendar data. Call summaries are grouped by reporting period. Latest covered event: 2026-07-30.