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Guardant Health Announces Preliminary Fourth Quarter and Full Year 2022 Results
Full year clinical and biopharma volumes up 42% and 40% year over year PALO ALTO, Calif.--(BUSINESS WIRE)-- Guardant Health, Inc. (Nasdaq: GH), a leading
About this update from Guardant Health, Inc.
[{"type":"text","content":"\nFull year clinical and biopharma volumes up 42% and 40% year over year\n\n PALO ALTO, Calif.--(BUSINESS WIRE)--\nGuardant Health, Inc. (Nasdaq: GH), a leading precision oncology company focused on helping conquer cancer globally through use of its proprietary tests, vast data sets and advanced analytics, today announced preliminary, unaudited results for the year ended December 31, 2022.\n\nFull year 2022 preliminary unaudited financial results\n\nFor the twelve-month period ended December 31, 2022, as compared to the same period of 2021:\n\n\nRevenue of between $447 million and $450 million, an increase of 20%\n\n\nReported 124,800 tests to clinical customers and 26,000 tests to biopharma customers, an increase of 42% and 40%, respectively\n\n\nFourth quarter 2022 preliminary unaudited financial results\n\nFor the three-month period ended December 31, 2022, as compared to the same period of 2021:\n\n\nRevenue of between $124 million and $127 million, an increase of between 15% and 17%\n\n\nReported 36,000 tests to clinical customers and 8,200 tests to biopharma customers, an increase of 41% and 24%, respectively\n\n\nCash, cash equivalents and marketable debt securities were $1.0 billion as of December 31, 2022.\n\n“We are very pleased with the strong finish to 2022 that enabled us to post annual volume growth for both clinical and biopharma above 40%, and believe we are well positioned for continued strong double-digit revenue growth in 2023.” said Helmy Eltoukhy, co-founder and co-CEO.\n\n“During the fourth quarter we delivered on a long-term ambition with the positive readout of our ECLIPSE trial. We are thrilled with the strong and positive feedback expressed by guideline members, key opinion leaders, and patient advocacy leaders about the performance of the Shield test in the ECLIPSE trial,” said AmirAli Talasaz, co-founder and co-CEO. “Fueled by this success, we will expand this test to many other cancer types, including lung cancer, the leading cause of death from cancer.”\n\nGuardant Health has not completed preparation of its financial statements for the fourth quarter or full year of 2022. The revenue ranges and test volumes presented in this release for the fourth quarter and the year ended December 31, 2022 are preliminary and unaudited and are thus inherently uncertain and subject to change as we complete our fin...