Guardant Health, Inc. · NASDAQ:GH
Guardant Health — Q4 2021 Earnings Presentation
20 slides from Guardant Health's earnings presentation, Feb 23, 2022
Slide 1: Q4 & FY 2021 earnings Call
Q4 & FY 2021 earnings Call February 23, 2022
Slide 2: Safe Harbor
Safe Harbor Certain statements in this presentation and the accompanying oral commentary are forward-looking unknown risks and uncertainties, many of which are beyond the Company's control. These and other statements within the meaning of federal securities laws. These statements relate to future ev
Slide 3: 2021 highlights
2021 highlights ● Launched three new products ● Surpassed 100 biopharma partners ● Reached enrollment of 12,750 patients in ECLIPSE pivotal study for Guardant SHIELD blood test to detect colorectal cancer ● Launched a second registrational grade study (SHIELD Lung) to validate the performance of blo
Slide 4: Record Q4 revenue, growing 38% year over year
Record Q4 revenue, growing 38% year over year Q4 2021 Revenue 2021 Annual Revenue $108M $374M 38% 30% $287M $78M Q4 2020 Q4 2021 2020 2021 4
Slide 5: Q4 clinical volumes up 48% year over year
Q4 clinical volumes up 48% year over year 25.6K 22.8K 70% of Q4 volume from the 20.8K community setting 18.4K 17.4K 17.0K #1 share of voice 15.3K Nearly DOUBLE the interactions compare to closest CGP competitor 13.7K ~50% of interactions with oncologists are in person Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1
Slide 6: Demonstrated high performance for recurrence detection in early-stage CRC
Demonstrated high performance for recurrence detection in early-stage CRC Interim analysis from COSMOS presented at ASCO-GI Symposium Cohort is still maturing and further analysis on specificity and RTS will be available in the future Prospective, Observational Study • Samples collected at multiple
Slide 7: Growing opportunity for MRD
Growing opportunity for MRD $20B+ >4.5M tests/year More favorable reimbursement $15B 15 million Early-stage survivors Less than half of market accessible with tissue- based approaches MRD 7 Market sizing based on Guardant Health internal analysis
Slide 8: Increasing global access to our liquid biopsy platform
Increasing global access to our liquid biopsy platform Europe Building two labs with European partners: Vall d’Hebron Institute of Oncology, Spain and Royal Marsden NHS Foundation Trust, UK • Accessible to private and self-paying patients • Plan for future expansion to UK NHS patients • Public reimb
Slide 9: Healthy rebound in biopharma volumes
Healthy rebound in biopharma volumes 6.6K 5.3K 100+ biopharma partners 4.8K 4.8K Signed 2 new companion diagnostic contracts 3.7K 3.5K 3.1K Growing usage of Reveal in 2.8K adjuvant setting Across CRC, lung, bladder, breast indications Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1 '21 Q2 '21 Q3 '21 Q4 '21 9
Slide 10: A quantum leap forward for liquid biopsy
A quantum leap forward for liquid biopsy More information coming at our investor day in fall of this year Countless Applications Will fuel applications across oncology elucidating tumor genomics, tumor microenvironment, immuno-oncology, monitoring, prognosis, and countless others Smart Liquid Biopsy
Slide 11: Philosophy on cancer screening
Philosophy on cancer screening: focus on saving lives and ensuring broad patient access High performance in detecting early- FDA approval stage cancers CRC + LUNG + … Alignment with Broad reimbursement value-based care & guideline inclusion 1. World Health Organization. Screening programmes: a short
Slide 12: Guardant SHIELD: Unlocking a $20B opportunity for CRC screening
Unlocking a $20B opportunity for Established Medicare NCD and path to private pay coverage via USPSTF CRC screening in 2022 & beyond Clear FDA approval and clinical validation pathway ECLIPSE reached Launch ECLIPSE Submit for FDA approval Guidelines Value proposition of target enrollment Shield LDT
Slide 13: Next generation screening device for multi-cancer test
Next generation screening device for multi-cancer test 90% 90% Multi-Cancer 87% Next Generation GUARDANT SHIELD Pancreatic Bladder ~30x larger than original panel Lung Liver CRC … 500KB 16MB Original Panel Next Gen Assay Specificity Sensitivity Sensitivity 13 Performance in detecting stage I/II canc
Slide 14: Moving toward multi-cancer opportunity with SHIELD Lung study
Moving toward multi-cancer opportunity with SHIELD Lung study Prospective Trial • Regulatory grade study • Potential to enable FDA Evaluating performance of Next Generation approval and CMS coverage GUARDANT SHIELD to detect lung cancer in high-risk adults ~10,000 Individuals • Ages 50-80 • High ris
Slide 15: $50B+ opportunity for multi-cancer screening
$50B+ opportunity for multi-cancer screening $50B+ + Average Risk Lung → Multi-cancer + Annual Testing Interval $29B + High Risk Lung annual testing interval $20B Average Risk CRC 3-year testing interval 45 – 84 years old 15 Market sizing based on Guardant Health internal analysis
Slide 16: Q4 2021 financial overview
Q4 2021 financial overview Q4’21 Q4’20 Total Revenue $108M $78M Precision Oncology Revenue $89M $65M Development Services & Other Revenue $19M $14M Gross Margin 69% 64% Operating Expenses $173M $141M Non-GAAP Operating Expenses $146M $85M Adjusted EBITDA -$65M -$30M 16 Non-GAAP operating expenses ex
Slide 17: FY 2021 financial overview
FY 2021 financial overview 2021 2020 Total Revenue $374M $287M Precision Oncology Revenue $304M $236M Development Services & Other Revenue $69M $50M Gross Margin 67% 68% Operating Expenses $662M $449M Non-GAAP Operating Expenses $507M $295M Adjusted EBITDA -$232M -$84M Ending Cash Balance $1,631M $2
Slide 18: 2022 Guidance
2022 Guidance ▪ Total Revenue: $460 - $470 million, growth of 24% over 2021 at midpoint ▪ Precision Oncology Revenue: >35% growth over 2021 ▪ Development Services & Other Revenue: ~$50 million ▪ Clinical Volume: >50% growth over 2021 ▪ Biopharma Volume: >30% growth over 2021 18
Slide 19: Transforming the continuum of care in 2022 and beyond
Transforming the continuum of care in 2022 and beyond Oncology Screening Therapy Lung / Selection MRD Biopharma CRC Multi-cancer • 100 partners • Shield LDT • Enrollment for • Continued • Launch of and growing 1H 2022 SHIELD lung study adoption of Multi-cancer Guardant360 Reveal • Strong sample • Ec
Slide 20: Guardant
(@) GUARDANT