Guardant Health (GH) 44th Annual J.P. Morgan Healthcare Conference summary

Strategic vision, mission, and innovation

• Mission centers on extending disease-free life and advancing human health through pioneering liquid biopsy technology and integrated blood-based cancer testing.

• Over $2 billion invested in R&D, resulting in a robust, category-defining product pipeline and leadership in liquid biopsy.

• Smart platform leverages proprietary chemistry, advanced algorithms, and Infinity AI to drive multimodal biology and product differentiation.

• Infinity AI learning engine powers clinical navigation, integrating diverse data sources for actionable insights and streamlined physician workflows.

• Over 1,200 conference publications and 670 peer-reviewed articles support the technology's clinical impact, with partnerships at 45+ NCI-designated cancer centers.

Financial performance and growth drivers

• Achieved $981 million in 2025 revenue, up 33% year-over-year, with Q4 revenue of $280 million, and consistent growth from $374 million in 2021.

• Oncology volumes grew 34% in 2025, with Guardant360 showing 25% year-over-year growth and total oncology volume reaching 276,000.

• Shield CRC screening volumes rose sharply, with 38,000 tests in Q4, and Shield is positioned as the most successful diagnostic launch outside COVID testing.

• Biopharma business delivered record revenue and contracted volumes, with 24 CDx approvals and over 200 biopharma partners, including 19 of the top 20 pharma companies.

• Ended 2025 with $1.3 billion in cash, targeting free cash flow breakeven by Q4 2027, and generated positive free cash flow in Q3 and Q4 2025 excluding screening.

Product and market expansion

• Oncology portfolio addresses a $30 billion U.S. opportunity, with Guardant360 Liquid leading in therapy selection and Reveal dominating tissue-free MRD.

• Reveal Ultra, a next-gen MRD assay, launches in 2026, offering ultra-sensitive detection down to one part per million.

• Shield is the first FDA-approved blood test for primary CRC screening, with 93% real-world adherence and broadening reach via Quest Diagnostics and PathGroup collaborations.

• Shield's multi-cancer detection (MCD) report now covers nine common cancers, with strong patient and physician engagement.

• Plans to expand Shield internationally with self-pay options and to leverage its platform for non-oncology diseases, including cardiovascular and neurodegenerative areas.