NASDAQ : GH
Guardant Health, Inc. — Financial statements
Healthcare · Diagnostics & Research · United States
Last price 178.8 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 23.99B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Guardant Health, Inc. (GH) reported revenue of 1.18B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.18B | 982.02M | 739.02M | 563.95M | 449.54M | 373.65M |
| Cost of Revenue | 413.95M | 349.01M | 289.80M | 227.05M | 156.32M | 122.91M |
| Gross Profit | 769.16M | 633.01M | 449.22M | 336.90M | 293.21M | 250.74M |
| Selling, General & Admin | 862.40M | 705.12M | 544.05M | 450.92M | 463.78M | 398.52M |
| Research & Development | 375.79M | 364.19M | 347.75M | 367.19M | 373.81M | 263.22M |
| Operating Expenses | 1.24B | 1.07B | 891.80M | 818.11M | 837.59M | 661.74M |
| Operating Income | -469.03M | -436.30M | -442.58M | -481.21M | -544.38M | -411.00M |
| Interest Expense | -4.82M | -3.90M | -2.58M | -2.58M | -2.58M | -2.58M |
| Interest & Investment Income | 38.77M | 34.09M | 53.69M | 35.37M | 6.07M | 3.93M |
| Other Non Operating Income (Expenses) | 9.09M | 8.09M | 1.80M | 2.52M | -99.51M | 178.00K |
| EBT Excluding Unusual Items | -425.99M | -398.01M | -389.68M | -445.91M | -640.39M | -409.47M |
| Gain (Loss) on Sale of Investments | -13.58M | -18.58M | -44.40M | 50.66M | -13.05M | |
| Legal Settlements | -83.40M | |||||
| Other Unusual Items | -14.90M | -950.00K | -1.01M | -110.00K | 25.00M | |
| Pretax Income | -454.47M | -417.54M | -435.09M | -478.76M | -653.45M | -384.47M |
| Income Tax Expense | -1.03M | -1.26M | 1.28M | 685.00K | 1.14M | 300.00K |
| Earnings From Continuing Operations | -453.44M | -416.28M | -436.37M | -479.45M | -654.59M | -384.77M |
| Minority Interest in Earnings | -20.90M | |||||
| Net Income | -453.44M | -416.28M | -436.37M | -479.45M | -654.59M | -405.67M |
| Net Income to Common | -453.44M | -416.28M | -436.37M | -479.45M | -654.59M | -405.67M |
| Shares Outstanding (Basic) | 129.41M | 125.37M | 122.75M | 111.99M | 102.18M | 101.31M |
| Shares Outstanding (Diluted) | 129.41M | 125.37M | 122.75M | 111.99M | 102.18M | 101.31M |
| EPS (Basic) | -3.50 | -3.32 | -3.56 | -4.28 | -6.41 | -4.00 |
| EPS (Diluted) | -3.50 | -3.32 | -3.56 | -4.28 | -6.41 | -4.00 |
| Free Cash Flow | -240.72M | -233.07M | -274.94M | -345.46M | -386.92M | -284.05M |
| Free Cash Flow Per Share | -1.86 | -1.86 | -2.24 | -3.08 | -3.79 | -2.80 |
| Gross Margin | 65.01% | 64.46% | 60.79% | 59.74% | 65.22% | 67.11% |
| Operating Margin | -39.64% | -44.43% | -59.89% | -85.33% | -121.10% | -110.00% |
| Profit Margin | -38.33% | -42.39% | -59.05% | -85.02% | -145.61% | -108.57% |
| Free Cash Flow Margin | -20.35% | -23.73% | -37.20% | -61.26% | -86.07% | -76.02% |
| EBITDA | -430.57M | -396.56M | -400.20M | -438.33M | -508.42M | -388.73M |
| EBITDA Margin | -36.39% | -40.38% | -54.15% | -77.73% | -113.10% | -104.04% |
| D&A For EBITDA | 38.46M | 39.74M | 42.39M | 42.88M | 35.96M | 22.27M |
| EBIT | -469.03M | -436.30M | -442.58M | -481.21M | -544.38M | -411.00M |
| EBIT Margin | -39.64% | -44.43% | -59.89% | -85.33% | -121.10% | -110.00% |
| Revenue as Reported | 449.54M | 373.65M | ||||
| Advertising Expenses | 2.40M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.05B | 378.20M | 525.54M | 1.13B | 141.65M | 492.20M |
| Short-Term Investments | 823.39M | 314.44M | 35.10M | 869.58M | 440.55M | |
| Cash & Short-Term Investments | 1.05B | 1.20B | 839.98M | 1.17B | 1.01B | 932.75M |
| Receivables | 144.25M | 137.85M | 110.25M | 88.78M | 97.26M | 97.65M |
| Inventory | 105.46M | 85.88M | 71.08M | 61.95M | 51.60M | 30.67M |
| Prepaid Expenses | 61.46M | 40.72M | 33.80M | 27.74M | 31.51M | 53.05M |
| Total Current Assets | 1.36B | 1.47B | 1.06B | 1.35B | 1.19B | 1.11B |
| Property, Plant & Equipment | 302.87M | 304.76M | 279.08M | 302.71M | 341.92M | 313.90M |
| Long-Term Investments | 6.50M | 6.50M | 16.10M | 106.60M | 43.30M | 737.43M |
| Goodwill | 77.26M | 77.26M | 3.29M | 3.29M | 3.29M | 3.29M |
| Other Intangible Assets | 25.27M | 25.92M | 6.76M | 8.98M | 11.73M | 14.21M |
| Other Long-Term Assets | 135.77M | 133.17M | 125.27M | 17.73M | 18.15M | 21.54M |
| Total Assets | 1.91B | 2.01B | 1.49B | 1.79B | 1.61B | 2.20B |
| Accounts Payable | 93.51M | 54.44M | 38.55M | 51.74M | 68.91M | 38.52M |
| Accrued Expenses | 172.90M | 169.86M | 122.35M | 108.26M | 55.79M | 42.50M |
| Current Portion of Leases | 27.76M | 27.68M | 29.21M | 27.95M | 21.88M | 12.86M |
| Current Unearned Revenue | 44.79M | 50.75M | 35.47M | 17.96M | 17.40M | 11.33M |
| Other Current Liabilities | 29.24M | 89.49M | ||||
| Total Current Liabilities | 338.96M | 302.73M | 225.58M | 205.92M | 193.22M | 194.69M |
| Long-Term Debt | 1.50B | 1.50B | 1.14B | 1.14B | 1.14B | 1.13B |
| Long-Term Leases | 166.31M | 178.46M | 164.29M | 185.85M | 210.01M | 226.05M |
| Long-Term Unearned Revenue | 7.20M | 59.70M | 41.60M | 5.00M | 3.80M | |
| Other Long-Term Liabilities | 119.74M | 68.07M | 51.23M | 91.01M | 5.38M | 3.93M |
| Total Liabilities | 2.14B | 2.11B | 1.63B | 1.63B | 1.55B | 1.56B |
| Common Stock | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K |
| Additional Paid-In Capital | 3.01B | 2.90B | 2.44B | 2.30B | 1.74B | 1.66B |
| Retained Earnings | -3.23B | -2.99B | -2.58B | -2.14B | -1.66B | -1.01B |
| Comprehensive Income & Other | -5.56M | -4.85M | -5.20M | -3.67M | -19.52M | -4.76M |
| Total Common Equity | -222.87M | -99.31M | -139.65M | 158.68M | 60.18M | 645.00M |
| Shareholders' Equity | -222.87M | -99.31M | -139.65M | 158.68M | 60.18M | 645.00M |
| Total Liabilities & Equity | 1.91B | 2.01B | 1.49B | 1.79B | 1.61B | 2.20B |
| Total Debt | 1.70B | 1.71B | 1.34B | 1.35B | 1.37B | 1.37B |
| Net Cash (Debt) | -643.54M | -508.54M | -496.07M | -185.13M | -358.05M | 257.05M |
| Net Cash Per Share | -4.97 | -4.06 | -4.04 | -1.65 | -3.50 | 2.54 |
| Filing Date Shares Outstanding | 134.20M | 131.17M | 123.42M | 121.71M | 102.66M | 101.87M |
| Total Common Shares Outstanding | 133.61M | 130.64M | 123.99M | 121.63M | 102.62M | 101.77M |
| Working Capital | 1.03B | 1.16B | 829.53M | 1.14B | 998.37M | 919.44M |
| Book Value Per Share | -1.67 | -0.76 | -1.13 | 1.30 | 0.59 | 6.34 |
| Tangible Book Value | -325.39M | -202.49M | -149.70M | 146.41M | 45.16M | 627.51M |
| Tangible Book Value Per Share | -2.44 | -1.55 | -1.21 | 1.20 | 0.44 | 6.17 |
| Machinery | 217.67M | 193.86M | 168.94M | 160.53M | 133.88M | 83.39M |
| Construction In Progress | 38.32M | 41.25M | 28.14M | 7.51M | 20.60M | 55.87M |
| Leasehold Improvements | 111.67M | 107.70M | 103.57M | 102.30M | 99.78M | 38.70M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -453.44M | -416.28M | -436.37M | -479.45M | -654.59M | -405.67M |
| Depreciation & Amortization | 38.46M | 39.74M | 42.39M | 42.88M | 35.96M | 22.27M |
| Other Amortization | 2.57M | 2.56M | ||||
| Loss (Gain) From Sale of Investments | 519.00K | 12.71M | 37.63M | -64.21M | 17.65M | 12.85M |
| Stock-Based Compensation | 191.33M | 166.22M | 140.41M | 90.76M | 94.69M | 151.45M |
| Other Operating Activities | 46.32M | 27.29M | 36.95M | 31.20M | 132.70M | 47.99M |
| Change in Accounts Receivable | -13.69M | -28.18M | -21.39M | 8.38M | 375.00K | -44.35M |
| Change in Inventory | -21.40M | -14.79M | -9.13M | -10.35M | -20.93M | -7.96M |
| Change in Accounts Payable | 93.08M | 52.75M | -2.82M | 5.19M | 60.33M | 34.80M |
| Change in Unearned Revenue | -7.62M | 19.45M | 18.66M | 1.73M | 9.87M | 2.78M |
| Change in Other Net Operating Assets | -58.75M | -43.67M | -46.18M | 48.89M | 11.91M | -25.73M |
| Operating Cash Flow | -185.19M | -184.76M | -239.86M | -324.98M | -309.46M | -209.02M |
| Capital Expenditures | -55.54M | -48.31M | -35.09M | -20.49M | -77.46M | -75.03M |
| Cash Acquisitions | -58.99M | -58.99M | ||||
| Investment in Securities | -4.00M | -519.91M | -226.22M | 860.74M | 227.28M | 11.88M |
| Investing Cash Flow | -118.53M | -627.20M | -261.31M | 840.25M | 149.82M | -63.16M |
| Long-Term Debt Issued | 402.50M | |||||
| Net Debt Issued (Repaid) | 402.50M | 402.50M | ||||
| Issuance of Common Stock | 399.74M | 377.81M | 14.84M | 503.68M | 11.94M | 17.86M |
| Repurchase of Common Stock | -36.59M | -75.55M | -15.68M | -11.20M | -7.88M | -83.76M |
| Other Financing Activities | -27.86M | -33.63M | -153.00K | -15.10M | -193.16M | -930.00K |
| Financing Cash Flow | 737.80M | 671.13M | -996.00K | 477.38M | -189.09M | -66.82M |
| Foreign Exchange Rate Adjustments | -1.82M | 491.00K | -1.77M | -911.00K | -1.60M | -1.69M |
| Net Cash Flow | 432.26M | -140.34M | -503.93M | 991.74M | -350.34M | -340.69M |
| Free Cash Flow | -240.72M | -233.07M | -274.94M | -345.46M | -386.92M | -284.05M |
| Free Cash Flow Margin | -20.35% | -23.73% | -37.20% | -61.26% | -86.07% | -76.02% |
| Free Cash Flow Per Share | -1.86 | -1.86 | -2.24 | -3.08 | -3.79 | -2.80 |
| Levered Free Cash Flow | 26.61M | -88.11M | -148.78M | -180.70M | -295.57M | -123.48M |
| Unlevered Free Cash Flow | 29.62M | -85.67M | -147.16M | -179.09M | -296.52M | -124.43M |
| Cash Interest Paid | 3.77M | 3.77M | ||||
| Cash Income Tax Paid | 869.00K | 869.00K | 1.01M | 1.97M | 1.33M | 393.00K |
| Change in Working Capital | -8.38M | -14.43M | -60.86M | 53.84M | 61.56M | -40.47M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 23.99B | 13.16B | 3.77B | 3.28B | 2.79B | 10.17B |
| Enterprise Value | 24.64B | 13.91B | 4.19B | 3.49B | 3.04B | 9.85B |
| Last Close Price | 178.80 | 102.14 | 30.55 | 27.05 | 27.20 | 100.02 |
| PS Ratio | 20.28 | 13.40 | 5.11 | 5.82 | 6.20 | 27.21 |
| PB Ratio | -132.51 | -27.03 | 20.69 | 46.30 | 15.76 | |
| P/TBV Ratio | 22.43 | 61.69 | 16.20 | |||
| EV/Sales Ratio | 20.82 | 14.16 | 5.67 | 6.18 | 6.77 | 26.36 |
| Debt / Equity Ratio | -7.61 | -17.22 | -9.57 | 8.53 | 22.75 | 2.13 |
| Net Debt / Equity Ratio | -2.89 | -5.12 | -3.55 | 1.17 | 5.95 | -0.40 |
| Net Debt / EBITDA Ratio | -1.50 | -1.28 | -1.24 | -0.42 | -0.70 | 0.66 |
| Net Debt / FCF Ratio | -2.67 | -2.18 | -1.80 | -0.54 | -0.93 | 0.91 |
| Asset Turnover | 0.73 | 0.56 | 0.45 | 0.33 | 0.24 | 0.17 |
| Inventory Turnover | 4.37 | 4.45 | 4.36 | 4.00 | 3.80 | 4.60 |
| Quick Ratio | 3.53 | 4.42 | 4.21 | 6.11 | 5.74 | 5.29 |
| Current Ratio | 4.03 | 4.84 | 4.68 | 6.54 | 6.17 | 5.72 |
| Return on Equity (ROE) | -4,584.47% | -438.12% | -185.65% | -38.46% | ||
| Return on Assets (ROA) | -18.07% | -15.58% | -16.91% | -17.71% | -17.84% | -11.48% |
| Return on Capital Employed (ROCE) | -29.80% | -25.50% | -35.10% | -30.40% | -38.40% | -20.40% |
| Earnings Yield | -1.96% | -3.16% | -11.56% | -14.60% | -23.49% | -3.99% |
| FCF Yield | -1.00% | -1.77% | -7.28% | -10.52% | -13.89% | -2.79% |
| Buyback Yield / Dilution | -4.62% | -2.14% | -9.61% | -9.60% | -0.85% | -3.91% |