Guardant Health, Inc. · NASDAQ:GH
Guardant Health — Q3 2023 Earnings Presentation
17 slides from Guardant Health's earnings presentation, Nov 6, 2023
Slide 1: Transforming Cancer Care
Transforming Cancer Care Q3 2023 Earnings Call November 6, 2023
Slide 2: Safe harbor and non-GAAP disclosures
Safe harbor and non-GAAP disclosures Certain statements in this presentation and the accompanying oral commentary are forward-looking projections are reasonable, such forward-looking statements are only predictions and involve known and statements within the meaning of federal securities laws. These
Slide 3: Transforming patient lives across the continuum of cancer care
Transforming patient lives across the continuum of cancer care Therapy Selection Technology Market Biopharma Attractive Leader Leader Partnership Financial Profile Pipeline of multi-billion dollar revenue opportunities in early stages MRD / Recurrence Monitoring Screening 1st and only Medicare-reimb
Slide 4: Robust topline growth driven by precision oncology revenue
Robust topline growth driven by precision oncology revenue Total Revenue Precision Oncology Revenue $143M 22% 31% YoY Growth YoY Growth $133M $117M $102M Q3 2022 Q3 2023 Q3 2022 Q3 2023 4
Slide 5: Strong growth in clinical and biopharma volumes
Strong growth in clinical and biopharma volumes Clinical Volumes Biopharma Volumes 43.9K 35% YoY Growth 11% YoY Growth 7.5K 32.4K 6.8K Q3 2022 Q3 2023 Q3 2022 Q3 2023 5
Slide 6: Q3 highlights
Q3 highlights Continued to see strong year-over-year volumes for Guardant360, TissueNext, and Reveal Nearly half of U.S. oncologists are now ordering Guardant360 every month Integration underway with the top three oncology EMR providers in the U.S. Royal Marsden’s Guardant-powered laboratory awarded
Slide 7: Continued breakthroughs in payor coverage driving higher ASPs
Continued breakthroughs in payor coverage driving higher ASPs Therapy Selection Starting to see impact of recent commercial coverage for Guardant360 with ASP trending to $2,700 Medicare pricing updated for Guardant360 LDT Crossed the threshold of 200 million covered lives for TissueNext MRD / Recurr
Slide 8: Interim data readout of PEGASUS study demonstrates clinical utility for Reveal
Interim data readout of PEGASUS study demonstrates clinical utility for Reveal PEGASUS 135 stage III & high-risk stage II colon cancer patients after surgical resection De-Escalation Clinical • 34% of patients with a positive liquid biopsy result Utility Trial after surgery had cancer relapse, despi
Slide 9: Blazing a trail to the first FDA approved and reimbursed CRC screening test
Blazing a trail to the first FDA approved and reimbursed CRC screening test Published Launched ECLIPSE Filed PMA staging data Launch Shield Medicare & ACS USPSTF Shield LDT Readout with FDA at DDW IVD-CRC ADLT Status Guidelines Guidelines May 2022 4Q’ 22 1Q’ 23 2Q’ 23 2024 2026 CRC Drives ADLT Prici
Slide 10: Shield V2 demonstrated improved clinical sensitivity relative to Shield V1
Shield V2 demonstrated improved clinical sensitivity relative to Shield V1 Prospective U.S. Cohort Study Results (Blinded Samples) CRC Sensitivity Specificity N = 45 N = 1,458 Blood Shield V1 – 84% 91% PMA device (38/45) Shield V2 91% 91% (41/45) • Samples were run on both V1 and V2 tests Version 1
Slide 11: Adding Shield to standard of care increases compliance meaningfully
Adding Shield to standard of care increases compliance meaningfully Randomized prospective study with Kaiser Permanente Center for Health Research Study offering Shield Patients were >2x more likely to blood test to patients that haven’t completed complete CRC screening when their FIT offered a bloo
Slide 12: Guardant360 ASP trend benefiting from multiple tailwinds
Guardant360 ASP trend benefiting from multiple tailwinds Guardant360 ASP Forecast $2,850 - $2,9001 Guardant360 LDT Medicare Pricing $2,700 - $2,750 Gapfill price increase from $3,500 to $3,967 starting $2,650 -$2,700 October 1, 2023 Potential crosswalk from $3,967 to $5,000 starting January 1, 2024,
Slide 13: Q3 2023 financial overview
Q3 2023 financial overview Q3’23 Q3’22 Total Revenue $143.0M $117.4M Precision Oncology Revenue $133.4M $102.1M Development Services & Other $9.6M $15.4M Gross Margin 60% 66% Precision Oncology Gross Margin 60% 61% Development Services & Other Gross Margin 59% 93% Operating Expenses $199.0M $221.5M
Slide 14: Q3 2023 non-GAAP financial measures
Q3 2023 non-GAAP financial measures Q3’23 Q3’22 Non-GAAP Operating Expenses $177.3M $200.5M Non-GAAP Net Loss $(79.2M) $(120.8M) Non-GAAP EPS $(0.67) $(1.18) Adjusted EBITDA $(79.7M) $(112.8M) Q3’23 Q3’22 Free Cash Flow $(80.2M) $(99.9M) September 30, 2023 September 30, 2022 Cash, cash equivalents &
Slide 15: Raising our guidance for FY 2023 revenue
Raising our guidance for FY 2023 revenue Revenue OpEx Free Cash Flow $553 – $556M < FY 2022 ~($350M) 23-24% y/y growth Leveraging existing Reducing cash infrastructure burn Raised from previous expectations of $545 - $550 million 15 Free cash outflow is defined as net cash used in operating activiti
Slide 16: Transforming patient lives across the continuum of cancer care
Transforming patient lives across the continuum of cancer care Therapy Selection CMS reimbursement for Guardant Response Guardant360 reimbursement in Japan Ongoing rapid deployment of EMR customer integration Exceed 200M covered lives for TissueNext MRD / Recurrence Monitoring Screening First commer
Slide 17: () GUARDANT.
() GUARDANT.