10-K · February 19, 2026
Guardant Health positions itself as a precision oncology leader with a multi‑modal Smart Platform powering diagnostics across screening (Shield), MRD/monitoring (Reveal) and therapy selection (Guardant360/CDx), and…
Earnings analysis · 10-Q
GH earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Guardant Health reported a strong Q1 2026 with revenue of $301.7 million, significantly surpassing prior estimates and reflecting a 48% year-over-year increase. However, the company also faced a net loss of $112.1…
Read full summary
Guardant Health reported a strong Q1 2026 with revenue of $301.7 million, significantly surpassing prior estimates and reflecting a 48% year-over-year increase. However, the company also faced a net loss of $112.1 million, up from $95.2 million a year earlier, indicating ongoing challenges despite revenue growth. Management raised full-year revenue guidance to between $1.30 billion and $1.32 billion, reflecting optimism in its oncology and screening segments.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.45
What stood out
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Revenue Beats Expectations
Q1 2026 revenue reached $301.7 million, beating the estimate of $278.9 million by 8.1%.
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Oncology Revenue Growth
Oncology revenue increased by $54.4 million, or 36%, totaling $205.0 million for Q1 2026.
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Massive Increase in Screening Revenue
Screening revenue surged to $41.6 million from just $5.7 million a year ago, marking a 633% increase.
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EPS Surprised to the Upside
Q1 2026 EPS was reported at -$0.45, beating the estimated -$0.52 by 13.5%.
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Cash Position Strong
As of March 31, 2026, the company had approximately $1.2 billion in cash, cash equivalents, and marketable securities.
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Guidance Raised
Management raised 2026 revenue guidance to $1.30 to $1.32 billion from previous guidance of $1.25 to $1.28 billion.
What to watch
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Operating Losses Persist
Net loss increased to $112.1 million in Q1 2026 compared to $95.2 million in Q1 2025.
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Rising Operating Expenses
Total costs and expenses grew to $423.0 million, up from $314.5 million year-over-year.
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Dependence on Reimbursement Rates
Revenue and margins heavily affected by payer reimbursement decisions and coverage, creating variability.
Management's outlook
Revenue guidance raised, specifically to a range of $1.30 to $1.32 billion for 2026.
Earlier filings 4
10-K · February 20, 2025
Guardant Health highlights product and regulatory progress (Shield FDA approval in July 2024 and Medicare coverage) and continued commercial expansion of its liquid biopsy portfolio (Guardant360 CDx and Guardant360…
10-Q · May 9, 2024
Guardant Health reported Q1 revenue of $168,491,000, up from $128,714,000 a year ago (+$39,777,000; +30.9%), driven by precision oncology testing. Gross margin remained healthy at ~61.3% while the company continued to…
10-K · February 22, 2024
Guardant Health positions itself as a leading precision-oncology company with a product strategy spanning therapy selection, monitoring (MRD), and early detection and a data platform (GuardantINFORM) to support…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.