Guardant Health (GH)
NASDAQ:GH
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Guardant Health
(NASDAQ:GH)
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Rating:54Neutral
Price Target:
$91.00
▼(-2.47% Downside)
Action:ReiteratedDate:02/20/26
The score is held back primarily by weak financial performance (large losses, ongoing cash burn, and balance-sheet strain with negative equity and higher debt). Offsetting this, the latest earnings call was constructive with strong 2026 growth guidance and improving cash burn trajectory, while technical signals are mixed-to-neutral and valuation remains challenged due to losses and no dividend support.
Positive Factors
Revenue & oncology volume growth
Sustained double‑digit revenue and test volume gains show durable commercial adoption in oncology diagnostics. Consistent oncology volume growth reflects clinician and payer acceptance, strengthens recurring service revenue, and underpins longer‑term revenue visibility plus biopharma demand.
Negative Factors
Large ongoing losses and cash burn
Persistent negative cash flow and large operating losses materially elevate financing and execution risk. Continued cash burn reduces optionality, may force dilution or higher debt if volumes or reimbursement falter, and delays the company's structural path to self‑funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & oncology volume growth
Sustained double‑digit revenue and test volume gains show durable commercial adoption in oncology diagnostics. Consistent oncology volume growth reflects clinician and payer acceptance, strengthens recurring service revenue, and underpins longer‑term revenue visibility plus biopharma demand.
Read all positive factors
Guardant Health (GH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.18B
Dividend YieldN/A
Average Volume (3M)1.73M
Price to Earnings (P/E)―
Beta (1Y)1.54
Revenue Growth30.38%
EPS Growth24.17%
CountryUS
Employees1,999
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-1.00
Shares Outstanding131,170,440
10 Day Avg. Volume1,719,555
30 Day Avg. Volume1,732,056
Financial Highlights & Ratios
PEG Ratio4.56
Price to Book (P/B)-128.95
Price to Sales (P/S)13.04
P/FCF Ratio-54.94
Enterprise Value/Market Cap1.11
Enterprise Value/Revenue13.73
Enterprise Value/Gross Profit21.30
Enterprise Value/Ebitda-36.06
Forecast
1Y Price Target
$131.61Price Target Upside41.06% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering20
EPS Forecast (FY)-2.95
Revenue Forecast (FY)$1.27B
Guardant Health Business Overview & Revenue Model
Company Description
Guardant Health, Inc., a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers Guardant360, Guardant360 LDT, Guardant360 CDx, and GuardantOMNI liquid biopsy-based te...
How the Company Makes Money
Guardant Health primarily generates revenue from selling molecular diagnostic tests and related services. Its key revenue streams include: (1) Clinical testing revenue from ordering and performing oncology tests for patients—this includes liquid b...
Guardant Health Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyGuardant Health Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call presented a largely positive growth and execution story: strong revenue and volume growth across oncology and screening, improved gross margins and reduced per-test costs (notably for Reveal), meaningful commercial traction for Shield (high adherence, ADLT reimbursement, EMR integrations, Quest/PathGroup partnerships), and improved profitability trends with a solid cash runway. At the same time, significant near-term investments—primarily in Shield—continue to drive company-wide cash burn and operating expenses, and several important upside catalysts (FDA approvals, additional reimbursements, co-promotion benefits) remain uncertain and are not included in the base guidance. Overall the company is growing rapidly with improving margins and clearer path to profitability, but execution and reimbursement risks and continued screening-related cash burn temper the near-term financial picture.Positive Updates
Strong Top-Line Growth
Total revenue of $281.3M in Q4 2025, up 39% year-over-year; full-year 2025 revenue of $982.0M, up 33% year-over-year; company provided 2026 revenue guidance of $1.25B–$1.28B (+27%–30%).
Negative Updates
Continued Operating Losses and Cash Burn
Despite improvement, adjusted EBITDA remains negative (Q4 -$64.9M; FY -$220.9M) and company-wide free cash flow burn was $233M in 2025; screening accounted for roughly $220M of the company's 2025 burn and a similar screening burn is expected in 2026.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Top-Line Growth
Total revenue of $281.3M in Q4 2025, up 39% year-over-year; full-year 2025 revenue of $982.0M, up 33% year-over-year; company provided 2026 revenue guidance of $1.25B–$1.28B (+27%–30%).
Read all positive updates
Company Guidance
Guardant guided full-year 2026 revenue of $1.25–$1.28 billion (up 27–30%), with oncology revenue growth of 25–27% and oncology volumes ~30%, biopharma & data expected to grow low double-digits (2025 base $210.1M), and screening revenue $162–$174M driven by 210k–225k Shield tests (vs ~87k tests / $79.7M in 2025). Management expects non‑GAAP gross margin of 64–65% (vs 66% in 2025), non‑GAAP operating expenses of $1.03–$1.05B (14–16% YoY; 2025 was $903.7M), and free cash flow burn of $185–$195M in 2026 (improved from $233M in 2025); excluding screening the core business is expected to be free cash flow positive (midpoint implies ~+$30M). Key product-level metrics in Q4/FY2025 were: total revenue $281.3M Q4 / $982.0M FY, oncology tests ~79k Q4 (~276k FY), Guardant360 liquid ASP $3,000–$3,100, tissue ~$2,000, Reveal $600–$700, Shield ASP ≈$850 (ADLT rate $1,495 secured through Dec 2027), Shield Q4 gross margin 52% and cost/test ≈$450 exit-2025, and Reveal cost/test improved from >$1,000 (Q3 2024) to < $500 in 2025. The company ended 2025 with ~ $1.3B cash, expects continued margin and cost improvements (NovaSeq X transition), and noted upside risks not baked into guidance including potential FDA approvals (Guardant360 CDx), SERENA‑6 ESR1 monitoring, Quest co‑promotion, ACS guideline inclusion and expanded Reveal reimbursement.Guardant Health Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
18
Very Negative
Cash Flow
27
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 982.02M | 739.02M | 563.95M | 449.54M | 373.65M |
| Gross Profit | 633.01M | 449.22M | 336.90M | 293.21M | 250.74M |
| EBITDA | -373.91M | -390.12M | -433.31M | -614.91M | -359.62M |
| Net Income | -416.28M | -436.37M | -479.45M | -654.59M | -405.67M |
Balance Sheet | |||||
| Total Assets | 2.01B | 1.49B | 1.79B | 1.61B | 2.20B |
| Cash, Cash Equivalents and Short-Term Investments | 1.20B | 839.98M | 1.17B | 1.01B | 932.75M |
| Total Debt | 1.68B | 1.34B | 1.35B | 1.37B | 1.37B |
| Total Liabilities | 2.11B | 1.63B | 1.63B | 1.55B | 1.56B |
| Stockholders Equity | -99.31M | -139.65M | 158.68M | 60.18M | 645.00M |
Cash Flow | |||||
| Free Cash Flow | -233.07M | -274.94M | -345.46M | -386.92M | -284.05M |
| Operating Cash Flow | -184.76M | -239.86M | -324.98M | -309.46M | -209.02M |
| Investing Cash Flow | -627.20M | -261.31M | 840.25M | 149.82M | -63.16M |
| Financing Cash Flow | 671.13M | -996.00K | 477.38M | -189.09M | -66.82M |
Guardant Health Technical Analysis
Positive
93.30
Price Trends
96.32
Negative
100.55
Negative
80.47
Positive
Market Momentum
-0.79
Negative
52.63
Neutral
63.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GH, the sentiment is Positive. The current price of 93.3 is above the 20-day moving average (MA) of 88.11, below the 50-day MA of 96.32, and above the 200-day MA of 80.47, indicating a neutral trend. The MACD of -0.79 indicates Negative momentum. The RSI at 52.63 is Neutral, neither overbought nor oversold. The STOCH value of 63.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GH.
Guardant Health Risk Analysis
Guardant Health disclosed 70 risk factors in its most recent earnings report. Guardant Health reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
1.
Our increasing usage of artificial intelligence technologies may expose us to operational, regulatory, legal, and reputational risks. Q4, 2025
2.
Changes to FDA Regulation of Companion Diagnostics Could Adversely Affect Our Business and Competitive Position Q4, 2025
Guardant Health Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $8.50B | 23.17 | 11.85% | 3.31% | 5.32% | 336.29% | |
64 Neutral | $10.11B | 27.94 | 3.24% | 0.29% | 3.37% | -18.80% | |
64 Neutral | $29.88B | -150.47 | -15.28% | ― | 38.17% | -28.77% | |
62 Neutral | $4.34B | -287.63 | -1.88% | ― | 11.09% | -165.89% | |
54 Neutral | $12.18B | -30.76 | 164.85% | ― | 30.38% | 24.17% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
GH
Guardant Health
92.84
48.97
111.63%
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Guardant Health Corporate Events
Business Operations and StrategyFinancial Disclosures
Guardant Health Announces Strong 2025 Preliminary Revenue Growth
Positive
Jan 12, 2026
On January 11, 2026, Guardant Health reported preliminary, unaudited results indicating that 2025 was a breakout year, with total revenue for the year ended December 31, 2025 rising 33% to approximately $981 million and fourth-quarter revenue up 3...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.