Guardant Health raises FY25 revenue view to $915M-$925M from $880M-$890M

Consensus $885.1M. Oncology revenue is now expected to grow approximately 20% year over year in 2025, compared to prior guidance of approximately 18% growth. Oncology volume is now expected to accelerate to greater than 27% growth in 2025 compared to 20% growth in 2024. Screening revenue is now expected to be in the range of $55 to $60 million, driven by Shield volume of 68,000 to 73,000 tests. This compares to the prior range of $40 to $45 million and 52,000 to 58,000 tests. Biopharma & Data revenue growth is now expected to be in the mid-teens range, compared to prior expectations of low double-digits. Guardant Health (GH) now expects full year 2025 non-GAAP gross margin to be in the range of 63% to 64%, an improvement compared to prior expectations of 62% to 63%. Guardant Health now expects total non-GAAP operating expenses to be in the range of $840 to $850 million, an increase compared to the prior range of $830 to $840 million due to the reinvestment of incremental Screening gross profit to accelerate the Screening commercial infrastructure build out. Guardant Health continues to expect free cash flow burn to be in the range of $225 to $235 million, an improvement compared to $275 million for the full year 2024.