Guardant Health Raises Full-Year Outlook as Screening Volume Climbs
The oncology diagnostics company raised its 2026 revenue guidance to a range of $1.34 billion to $1.36 billion.
Guardant Health (GH), the oncology diagnostics company, raised its full-year revenue outlook after reporting second-quarter results that showed accelerating test volumes.
The company shifted its growth profile this quarter as the adoption of its Shield screening test expanded, offset by a slowdown in its biopharma and data segments. This trajectory led the company to increase its full-year revenue guidance to between $1.34 billion and $1.36 billion, up from a previous range of $1.30 billion to $1.32 billion.
Total revenue for the second quarter rose 44% year-over-year to $335.0 million. This represented a deceleration from the 48% growth reported in the first quarter. Non-GAAP gross margin expanded slightly to 67%, compared to 66% in both the first quarter and the fourth quarter of 2024.
Growth was driven largely by oncology test volumes, which rose 63% year-over-year to approximately 104,000 tests. This growth accelerated from 47% in the first quarter and 38% in the fourth quarter of 2024. Screening revenue grew over 250% year-over-year to $52.9 million, though this was a slowdown from the 600% growth seen in the first quarter.
Shield screening test volume increased to approximately 66,000 tests in the second quarter, up from 44,000 in the first quarter and 38,000 in the fourth quarter of 2024. The company obtained Shield coverage from UnitedHealth Group, the first major commercial insurer to provide such coverage. Guardant also received FDA approval for Guardant360 Liquid CDx and a higher-throughput Shield workflow designed to lower costs.
Biopharma and data revenue growth slowed to 9% year-over-year, totaling $60.9 million, compared to 17% growth in the first quarter.
For the full year 2024, the company raised its oncology volume growth guidance to approximately 50%, up from 35%. Screening revenue guidance was increased to a range of $218 million to $230 million, representing 270,000 to 285,000 tests, compared to the prior range of $186 million to $198 million.
Guardant increased its full-year non-GAAP operating expenses guidance to between $1.08 billion and $1.10 billion. Free cash flow burn guidance was also raised to a range of $195 million to $205 million, attributed to accelerated laboratory capacity investment for Shield.