Guardant Health, Inc. · NASDAQ:GH
Guardant Health — Q1 2026 Earnings Presentation
24 slides from Guardant Health's earnings presentation, May 7, 2026
Slide 1: Conquering Cancer with Data
Conquering Cancer with Data Q1 2026 May 7, 2026
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 presentation are made only as of the date hereof. For a further description of the risks and uncertainties statements within the meaning of federal securities laws. T
Slide 3: One platform for the entire patient journey
One platform for the entire patient journey Profiling PLATFORM Monitoring Monitoring Screening Tumor Surgery MRD detected Profiling 3
Slide 4: Q1 revenue accelerates to 48% growth
Q1 revenue accelerates to 48% growth Revenue +48% $302M $203M Q1 2025 Q1 2026 Oncology Biopharma & Data Screening Licensing & Other 4
Slide 5: Oncology drives growth with strong revenue and volume expansion
Oncology drives growth with strong revenue and volume expansion Oncology Revenue Oncology Volume $205M 86K $151M 59K 36% YoY Growth 47% YoY Growth Q1 2025 Q1 2026 Q1 2025 Q1 2026 5
Slide 6: Multi-product momentum driving Oncology volume acceleration
Multi-product momentum driving Oncology volume acceleration Oncology Volume Y/Y Growth 14% 21% 24% 25% 30% 40% 38% 47% Guardant360 Liquid y/y volume growth of approximately 30% driven by Smart Platform END OF TEMPLATE Therapy Monitoring Upgrade Launch 86K Guardant360 Tissue remains second fastest gr
Slide 7: Rapidly scaling data + InfinityAI is fueling innovation and widening competitive moat
Rapidly scaling data + InfinityAI is fueling innovation and widening competitive moat >1,000,000 Smart Apps PATIENT SAMPLES Genomics New product development Multi-modal >500,000 Claims Novel biological signatures EPIGENETIC PROFILES Longitudinal Data Real world data generation EMR >100 TUMOR TYPES F
Slide 8: Strong Reveal data pipeline supporting indication expansion
Strong Reveal data pipeline supporting indication expansion Indication Specific Studies 1H 2024 2H 2024 1H 2025 2H 2025 1H 2026 2H 2026 CRC Surveillance COSMOS Covered by Medicare Elliot et al, Breast Surveillance Ademuyiwa et al RADIOHEAD, IO Monitoring Liang et al Chemo Monitoring RWE CDK4/6 Monit
Slide 9: Raising the bar for liquid and tissue-based therapy selection to potentially unlock greater volume
Raising the bar for liquid and tissue-based therapy selection to potentially unlock greater volume Expected 2026 launch Whole transcriptome upgrade Will be the most comprehensive FDA Second major platform upgrade in less approved liquid biopsy for therapy selection than a year for Guardant360 Tissue
Slide 10: AACR 2026: Strong presence across the portfolio, including new Smart Apps
AACR 2026: Strong presence across the portfolio, including new Smart Apps + Smart Apps AI driven prediction & tracking of therapeutic response: • Therapy response (SERD, anti-EGFR) • Tumor Fraction as a measure of molecular progression 38 Multi-modal modeling: Abstracts • Integration of clinical + g
Slide 11: InfinityAI and Smart Platform deepening strategic partnerships with leading biopharma companies
InfinityAI and Smart Platform deepening strategic partnerships with leading biopharma companies Biopharma & Data Revenue FDA approval for Guardant360 CDx as a companion diagnostic for Arvinas and Pfizer’s VEPPANU for ER+/HER2- ESR1 mutated advanced breast cancer 17% $53M FDA approval of Guardant360
Slide 12: Shield momentum continues to drive rapid revenue and volume growth
Shield momentum continues to drive rapid revenue and volume growth Screening Revenue Screening Volume 44K $42M 9K $6M Q1 2025 Q1 2026 Q1 2025 Q1 2026 12
Slide 13: Q1 Screening highlights
Q1 Screening highlights Strong volume throughout the quarter with accelerated momentum in March Direct-to-Consumer and Influencer campaigns launched in conjunction with Colorectal Cancer Awareness Month Quest collaboration commenced nationwide Shield continues to demonstrate >90% adherence rate Laun
Slide 14: DTC campaigns across TV and digital driving strong consumer engagement
DTC campaigns across TV and digital driving strong consumer engagement 1414
Slide 15: Expanded marketing, EMR, and phlebotomy initiatives fueling record HCP engagement
Expanded marketing, EMR, and phlebotomy initiatives fueling record HCP engagement Nationwide EMR Coast to Coast Phlebotomy Extensive Guardant network across 50 states and over 40,000 phlebotomists 15
Slide 16: Improving the Shield experience through product enhancements
Improving the Shield experience through product enhancements 2-tube Shield kit now FDA approved 16
Slide 17: Shield is a multi-cancer detection platform
Shield is a CRC multi-cancer detection CRC platform Bladder Lung Ovarian Liver When Shield is ordered for CRC screening: Multi-cancer Opt-in rate Physician opts in to receive MCD results report Stomach Esophageal Patient authorizes release of medical data improved 1Q26 Pancreatic Prostate Breast 17
Slide 18: Shield MCD launched in Asia through partnership with Manulife
Shield MCD launched in Asia through partnership with Manulife Leading global life and health insurance provider Strong presence in Asia with >13 million customers HONG KONG Shield MCD initially offered to Manulife customers in Hong Kong, Philippines and Singapore PHILIPPINES SINGAPORE 18
Slide 19: Revenue growth acceleration led by Oncology & Screening
Revenue growth acceleration led by Oncology & Screening Q1’26 Q1’25 % Growth Total Revenue $302M $203M 48% Oncology $205M $151M 36% Biopharma & Data $53M $45M 17% Screening $42M $6M >600% Licensing & Other $2M $2M -- 19
Slide 20: Q1 2026 non-GAAP financial highlights
Q1 2026 non-GAAP financial highlights Non-GAAP Measures2 Q1’26 Q1’25 Gross Margin1 66% 65% Total Operating Expense $268M $200M R&D $77M $75M S&M $154M $94M G&A $37M $31M Adjusted EBITDA3 $(59M) $(59M) Free Cash Flow4 $(71M) $(67M) March 31, 2026 December 31, 2025 Cash & investments5 $1.2B $1.3B 1. G
Slide 21: Screening gross margin expansion as Shield volume increases
Screening gross margin expansion as Shield volume increases Screening Non-GAAP Gross Margin 18% 56% Shield Non-GAAP $520 Cost per Test $420 Q1 2025 Q1 2026 21
Slide 22: Raising full year guidance on strong Q1 performance
Raising full year guidance on strong Q1 performance Revenue Current Guidance Prior Guidance Total $1.30B – $1.32B $1.25B - $1.28B 32% - 34% y/y growth 27% - 30% y/y growth Oncology 28% - 29% y/y growth 25% - 27% y/y growth Biopharma & Data Low double-digit growth Low double-digit growth Screening $1
Slide 23: Key catalysts across the continuum of cancer care in 2026
Key catalysts across the continuum of cancer care in 2026 ONCOLOGY BIOPHARMA & DATA SCREENING Therapy Selection MRD Guardant360 Liquid FDA MolDx coverage for Reveal CDx approvals, including ACS guidelines approval and launch Breast MRD SERENA-6 Transition to NovaSeq X MolDx coverage for Reveal Addit
Slide 24: () GUARDANT.
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