Guardant Health Inc
Q2 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.97%.
Did GH Beat Earnings? Q2 2026 Results
Guardant Health posted a mixed second quarter for fiscal 2026, delivering a meaningful revenue beat while falling short on the bottom line, as aggressive commercial investment weighed on profitability even as top-line momentum accelerated. The liquid biopsy company reported revenue of $334.98 million, clearing the consensus estimate of $314.43 million by 6.53% and marking 44.3% growth from a year ago, driven by explosive expansion in its Shield colorectal cancer screening segment, where revenue surged over 250% to $52.87 million on quadrupled test volume. On the earnings side, however, Guardant posted a non-GAAP loss of $0.42 per share, missing the $0.39 consensus by 7.80%, as GAAP operating losses widened to $129.12 million amid rising commercial infrastructure costs and stock-based compensation. Institutional investors had been watching closely ahead of the print, and the results validated much of that attention. Management responded to the strong demand signals by raising full-year 2026 revenue guidance to $1.34 to $1.36 billion, reflecting projected growth of 36% to 38%, while also lifting its Screening revenue outlook to $218 to $230 million.
- Oncology test volume grew 63% year over year to approximately 104,000 tests
- Shield screening test volume grew to approximately 66,000 tests from approximately 16,000 in the prior year period
- Non-GAAP gross margin improved to 67% from 66% year over year
- Acceleration across every oncology product
“Our second-quarter performance reflected broad-based momentum across the Guardant portfolio, with revenue increasing 44% year over year. Growth was fueled by strong oncology volume, with acceleration across every product. The landmark FDA approval of Guardant360 Liquid CDx further strengthens our portfolio and positions us to drive sustained growth in the years ahead.”
Guardant Health CEO, on the earnings call
Forward Guidance & Outlook
Guardant Health raised its full-year 2026 revenue guidance to $1.34 to $1.36 billion (growth of 36% to 38%), up from the prior range of $1.30 to $1.32 billion. Oncology revenue is now expected to grow approximately 30% (up from 28%–29%), with oncology volume growth now expected at approximately 50% (up from ~35%). Screening revenue guidance was raised to $218 to $230 million (from $186–$198 million), driven by Shield volume of 270,000 to 285,000 tests (from 230,000–245,000). Biopharma & Data revenue is expected to grow in the low double-digit range. Non-GAAP gross margin is expected at 64%–65%. Total non-GAAP operating expenses are expected at $1.08 to $1.10 billion (up from $1.05–$1.07 billion). Full-year free cash flow burn is now expected at $195 to $205 million (from $185–$195 million), reflecting accelerated lab capacity investment for Shield, but still an improvement from $233 million burn in full-year 2025.
GH YoY Financials
GH Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.