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Guardant Health Reports Fourth Quarter and Full Year 2024 Financial Results and Provides 2025 Outlook
Full year 2024 total revenue growth of 31% driven by strong clinical oncology volume growth, Guardant360 ASP tailwinds, and product upgrades Expects full
About this update from Guardant Health, Inc.
[{"type":"text","content":"\nFull year 2024 total revenue growth of 31% driven by strong clinical oncology volume growth, Guardant360 ASP tailwinds, and product upgrades\n\nExpects full year 2025 total revenue to be in the range of $850 to $860 million\n\n PALO ALTO, Calif.--(BUSINESS WIRE)--\nGuardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, today reported financial results for the quarter and full year ended December 31, 2024.\n\nFourth Quarter 2024 Financial Highlights\n\nFor the three-month period ended December 31, 2024, as compared to the same period of 2023:\n\n\nTotal revenue of $201.8 million, an increase of 30%\n\n\nReported approximately 57,300 oncology clinical tests (excluding Shield) and approximately 11,050 biopharma tests, an increase of 24% and 16%, respectively\n\n\nReported approximately 6,400 Shield screening tests, with revenue of $4.1 million\n\n\nFull Year 2024 Financial Highlights\n\nFor the twelve-month period ended December 31, 2024, as compared to the same period of 2023:\n\n\nTotal revenue of $739.0 million, an increase of 31%\n\n\nReported approximately 206,700 oncology clinical tests (excluding Shield) and approximately 40,500 biopharma tests, an increase of 20% and 35%, respectively\n\n\nImproved full year 2024 free cash flow burn to $275 million, compared to $345 million for the full year 2023\n\n\nRecent Operating Highlights\n\n\nReceived Medicare coverage for Guardant Reveal on Smart Liquid Biopsy platform for colorectal cancer surveillance\n\n\nShield selected by NIH for inclusion in the Vanguard multi cancer detection study based on strong feasibility data in predicting presence of ten cancer types and cancer site of origin\n\n\nShield selected for a government funded population scale screening program in Abu Dhabi and surrounding regions\n\n\nEntered into a collaboration with ConcertAI to create a differentiated data-as-a-service platform that integrates comprehensive EMR records with both genomic and epigenomic tumor profiling data to accelerate cancer therapy research and development\n\n\nEntered into a strategic collaboration with Boehringer Ingelheim to develop a companion diagnostic for zongertinib to detect specific mutations in non-small cell lung cancer\n\n\nCompleted a convertible debt exchange to extend the maturity on $600 million of outstanding debt\n\n\n“We fired on all cylinders th...