Guardant Health (GH) investor relations material

Financial performance and growth

• Achieved 48% year-over-year revenue growth in Q1 2026, the fastest in five years, surpassing a $1 billion revenue run rate.

• Oncology volume grew 47%, with Guardant360 up 30%, tissue as the second fastest-growing segment, and Reveal exceeding 100% growth.

• Screening saw 44,000 tests in Q1, with momentum driven by Quest collaboration and direct-to-consumer initiatives.

• Raised guidance for both oncology and screening due to strong Q1 traction and new product uptake.

• FDA approval for Guardant360 Liquid and ACS guideline inclusion occurred after guidance was set, providing further upside.

Market access and reimbursement

• ACS guidelines are expected to drive screening volume, especially in states mandating commercial payer coverage, with revenue impact anticipated in 2027.

• Commercial payer coverage for screening could take up to 12 months to materialize, with initial denials expected.

• Average selling price (ASP) for screening is guided at $775 for 2026, with a long-term target of $700 as a low point, rebounding above $800 as commercial payments ramp up.

• USPSTF inclusion for Shield is still anticipated by late 2027 or early 2028, pending reconstitution of the group.

Product innovation and pipeline

• Multi-cancer detection (MCD) feature launched in Q4 2025, with strong physician and patient opt-in, supporting future regulatory filings.

• Monetization of MCD depends on further reimbursement framework development and ongoing data collection for FDA approval.

• No immediate need for Shield 3.0; focus remains on continuous improvement, lung cancer study readout expected in 2027.

• Reveal therapy monitoring, launched in Q4 2025, is seeing strong uptake and is expected to increase tests per patient once reimbursement is secured.

• Reveal Ultra, a tumor-informed test, is set to launch later in 2026, offering both tissue-free and tissue-informed options.