Guardant Health Inc. reported fourth‑quarter revenue of $281.3 million, a 39% year‑over‑year increase, and full‑year revenue of $982.0 million, up 33% from 2024. Oncology revenue rose to $189.9 million, while screening revenue grew to $35.1 million, reflecting robust demand for Guardant360 Liquid, Guardant360 Tissue, and Shield screening tests.
The company’s non‑GAAP gross margin for the quarter was 66%, up from 63% in Q4 2024, and the GAAP gross margin was 65%, a slight improvement over the prior year. Non‑GAAP earnings per share were a loss of $0.50, missing the consensus estimate of $0.47, while GAAP diluted EPS was $‑1.00 versus an estimate of $‑0.72. Guardant raised its full‑year 2026 revenue guidance to $1.25 billion–$1.28 billion, a 27%–30% increase over 2025.
Segment‑level data show oncology revenue at $189.9 million, screening at $35.1 million, and biopharma & data at $54.0 million, up 9% year‑over‑year. The company also announced the acquisition of MetaSight Diagnostics Ltd. for $59 million in cash, with up to $90 million in contingent consideration, expanding its capabilities in colorectal cancer screening and multi‑cancer detection.
Management highlighted the results, stating, “We delivered an outstanding end to a great year, with fourth quarter revenue growth of 39% year‑over‑year.” Co‑CEO Helmy Eltoukhy added, “This was an exceptional quarter for Guardant with broad‑based growth across our business. Oncology volumes grew 40% year‑over‑year, driven by very strong performance across all products, including the fifth consecutive quarter of accelerating Guardant360 Liquid volume growth. Notably, this quarter we crossed over $1 billion in annualized revenue. This sets us up well to deliver on the long‑term plan we presented at our Investor Day last month.”
The raised guidance signals confidence in continued demand for Guardant’s oncology and screening solutions, while the EPS miss underscores the company’s ongoing investment in growth and the impact of higher operating costs. Guardant’s focus on expanding commercial infrastructure for Shield and maintaining momentum in its biopharma and data segments positions it for sustained profitability, with a target of company‑wide free‑cash‑flow breakeven by the end of 2027.
Overall, Guardant Health’s Q4 2025 performance demonstrates strong top‑line growth, margin expansion, and a clear path toward profitability, while the EPS miss highlights the need for continued cost discipline as the company scales its product portfolio.
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