Guardant Health (GH) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 36% YoY to $361.0M, led by 25% Oncology growth and 180% Screening growth.

• FY26 revenue guidance increased to $1.36B–$1.37B, representing 38%–40% YoY growth.

• Smart Platform adoption expanded across therapy selection, monitoring, MRD and screening; company-wide free cash flow breakeven remains targeted by end-2027.

Financial highlights

• Q3 revenue was $361.0M vs. $265.2M YoY; non-GAAP gross profit was $240M vs. $174M, with non-GAAP gross margin of 67% vs. 66%.

• GAAP operating loss was $132.8M vs. $99.0M; net loss widened to $124.4M from $92.7M, and loss per share was $0.93 vs. $0.74.

• Non-GAAP operating expenses were $287M, up 26%; adjusted EBITDA loss improved to $37M from $46M.

• Quarter-end cash, cash equivalents and restricted cash totaled $1.1B; Q3 free cash flow burn was $37M vs. $46M a year earlier.

Outlook and guidance

• FY26 revenue guidance rose to $1.36B–$1.37B, or 38%–40% growth, from $1.34B–$1.36B and 36%–38%.

• FY26 Oncology growth remains ~30%, with test volume growth expected above 50%; Biopharma & Data growth is expected in the low double digits.

• Screening revenue guidance increased to $233M–$238M and Shield volume to 285,000–290,000 tests.

• FY26 non-GAAP gross margin guidance is 65%; non-GAAP operating expenses are expected at $1.105B–$1.125B, up 22%–24%.

• FY26 free cash flow burn guidance increased to $205M–$220M from $195M–$205M; company-wide breakeven remains targeted by end-2027.