Guardant Health (GH) 46th Annual William Blair Growth Stock Conference summary

Strategic vision and innovation

• Mission centers on extending disease-free life through blood-based cancer testing, expanding from therapy selection to recurrence monitoring and screening.

• Product portfolio includes Guardant360 (liquid and tissue), Reveal, and Shield, powered by a proprietary platform and InfinityAI engine.

• Innovation has driven revenue growth from $334M in 2021 to a projected $1.31B in 2026, with multiple growth engines operating simultaneously.

• Recent FDA approval of Guardant360 Liquid CDx enhances clinical and commercial positioning, streamlining the therapy selection portfolio.

• Reveal Ultra, launching later this year, will expand MRD offerings with best-in-class sensitivity and rapid results.

Business performance and market opportunities

• Q1 2026 revenue reached $302M, up 48% year-over-year, marking the fastest growth in five years and surpassing $1B in trailing 12-month revenue.

• Oncology remains a key pillar, with a $10B late-stage and $20B early-stage addressable market in the U.S.; oncology revenue grew 36% year-over-year to $205M.

• Oncology test volume rose 47% to 86,000, driven by product upgrades, reimbursement wins, and new use cases.

• Pharma and data business generated $210M in 2025, with 26 companion diagnostic approvals and partnerships with 19 of the top 20 pharma companies.

• Shield targets a $50B CRC screening market, with rapid adoption and $82M revenue in 2025, expected to reach $192M in 2026.

Commercial execution and adoption

• Shield is the only FDA-approved, Medicare-reimbursed, guideline-recommended CRC screening test, with inclusion in NCCN and American Cancer Society guidelines.

• Direct-to-consumer campaigns and collaborations with Quest and PathGroup are expanding Shield’s reach and patient access.

• Quest partnership provides access to 650,000 providers and 8,000 patient locations, reducing friction for adoption.

• Multi-cancer detection is being piloted, with Shield now reporting on 9 additional cancer types and building a large clinical outcomes database.

• Shield demonstrated 75% sensitivity, 99% specificity, and 92% site-of-origin accuracy across multiple tumor types.