Guardant Raises 2026 Revenue Outlook After Third-Quarter Growth

The Tip Desk · November 6, 2026 · 3 min read

The precision oncology company now expects 2026 revenue of $1.36 billion to $1.37 billion after a 36% year-over-year increase to $361.0 million in the third quarter.

Guardant Health, Inc. (GH), a precision oncology company, reported third-quarter 2026 revenue of $361.0 million, up 36% from $265.2 million a year earlier, and raised its full-year 2026 revenue outlook to $1.36 billion to $1.37 billion, or 38% to 40% growth versus 2025.

That range sits above the $1.34 billion to $1.36 billion band the company set after the second quarter, when year-over-year revenue growth was 44%. First-quarter growth had been 48%. The latest lift is the third consecutive increase to the 2026 revenue guide.

Oncology remained the largest line. Oncology revenue was $231.3 million, up 25% from $184.4 million a year earlier, on 117,000 tests, up 58%. Second-quarter Oncology revenue growth had been 38% on about 104,000 tests, up 63%; first-quarter growth was 36% on about 86,000 tests, up 47%. Co-founder and co-CEO Helmy Eltoukhy said Oncology volume grew 58% with broad contributions across the portfolio.

Screening was the faster-growing segment. Screening revenue was $67.6 million, up 180% from $24.1 million a year earlier, on 83,000 Shield tests, up 246% from 24,000. Second-quarter Screening revenue growth had been more than 250% on about 66,000 tests; first-quarter growth was more than 600% on about 44,000 tests. Co-founder and co-CEO AmirAli Talasaz said Shield volume more than tripled year over year.

Biopharma & Data revenue was $59.0 million, up 8% from $54.7 million a year earlier. Licensing and other revenue was $3.1 million.

GAAP gross profit was $236.2 million, and GAAP gross margin was 65%. Non-GAAP gross profit was $240.2 million, and non-GAAP gross margin was 67%, matching the second quarter.

Operating expenses were $368.9 million, compared with $270.6 million a year earlier. The company said the year-over-year increase was primarily related to commercial infrastructure expansion and marketing to support Screening and Oncology growth and an increase in stock-based compensation. Non-GAAP operating expenses were $287.4 million. Net loss was $124.4 million, or $0.93 a share, compared with $92.7 million, or $0.74 a share, a year earlier. Non-GAAP net loss was $38.8 million, or $0.29 a share. Adjusted EBITDA loss was $37.3 million. Free cash flow was $(37.2) million. Cash, cash equivalents, and restricted cash were $1.1 billion as of September 30, 2026.

Guardant received FDA approval and CE-marking in Europe for Guardant360 CDx as a companion diagnostic for AstraZeneca’s camizestrant, which it described as the first FDA approval of a liquid biopsy companion diagnostic for longitudinal testing in breast cancer, and FDA approval for Guardant360 CDx with imlunestrant plus abemaciclib in ESR1-mutated advanced or metastatic breast cancer. It submitted a premarket approval application for Guardant360 Tissue and launched Guardant Reveal Ultra with biopharma partners.

Shield commercial coverage expanded to more than 80% of eligible lives, which the company said is approximately 100 million lives, with additions including UnitedHealth Group, Carelon Healthcare Services, and EviCore. The company said it successfully deployed a new FDA-approved lower-COGS, higher-throughput Shield workflow.

Within the new 2026 revenue range, Oncology revenue is expected to grow approximately 30% and Oncology volume is now expected to grow over 50%. Biopharma & Data revenue growth is expected in the low double-digit range. Screening revenue is now expected to be $233 million to $238 million, on 285,000 to 290,000 Shield tests, compared with prior guidance of $218 million to $230 million and 270,000 to 285,000 tests. Full-year non-GAAP gross margin is now expected to be 65%, versus a prior range of 64% to 65%. Non-GAAP operating expenses are expected to be $1.105 billion to $1.125 billion, and free-cash-flow burn is expected to be $205 million to $220 million.