Guardant Health, Inc. · NASDAQ:GH
Guardant Health — Q1 2022 Earnings Presentation
18 slides from Guardant Health's earnings presentation, May 5, 2022
Slide 1: Q1 2022 earnings Call
Q1 2022 earnings Call May 5, 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: Q1 revenue up 22% year over year
Q1 revenue up 22% year over year $96M • Clinical volume of 27,100 tests, up 47% y/y 22% • Biopharma volume of 5,100 tests, 45% y/y $79M • Slower January and February due to Omicron surge followed by acceleration in March • Sets up business for strong ramp for rest of year Q1 2021 Q1 2022 3
Slide 4: Q1 clinical volumes up 47% year over year
Q1 clinical volumes up 47% year over year 27.1K 25.6K 22.8K 20.8K >11,000 ordering oncologists, 18.4K seeing improved depth with core customers Partnership with Epic, making product portfolio available to over 250 million patients with a record in Epic Received Medicare coverage for Guardant360 Tiss
Slide 5: Continuing to progress in MRD with GuardantReveal
Continuing to progress in MRD with GuardantReveal Only commercially available blood-only solution Continuing to see strong quarter over quarter growth Future tailwinds: indication expansion, reimbursement & additional clinical utility data 5
Slide 6: Expanding international access to our liquid biopsy platform
Expanding international access to our liquid biopsy platform Europe Establishing two labs with European partners: Vall d’Hebron Institute of Oncology, Spain and Royal Marsden NHS Foundation Trust, UK • Launched laboratory in partnership with Vall d’Hebron in Spain • Seeing early traction with hospit
Slide 7: Biopharma sample volumes up 45% year over year
Biopharma sample volumes up 45% year over year 6.6K 5.1K 4.8K 110+ biopharma partners 3.7K Healthy pipeline for 3.5K sustained growth as a partner of choice Signed several deals for GuardantINFORM platform Q1 '21 Q2 '21 Q3 '21 Q4 '21 Q1 '22 7
Slide 8: Unlocking the power of our Smart Liquid Biopsy platform
Unlocking the power of our Smart Liquid Biopsy platform Countless Applications Smart Liquid Biopsy • Nearly 100X larger genomic footprint than Guardant360 CDx • Higher sensitivity than G360 • Includes genomic, epigenomic and immune signatures Liquid Biopsy Strong Interest From Biopharma Launched Gua
Slide 9: 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 10: Launched Shield LDT test
Launched Shield LDT test TM Detecting CRC with high accuracy through a simple blood draw 92% 94% 91% 90% 97% 86% Sensitivity Sensitivity 20% Specificity Specificity Sensitivity Sensitivity AA Detection (Stage I) (Stage II) (Stage III) (Overall) (screen negative) (Overall) Guardant Health’s blood-bas
Slide 11: Comparisons of clinical data in recent studies
Comparisons of clinical data in recent studies Guardant ASCO Guardant ACG Guardant AACR Guardant LDT 2021 2021 Data MCED Data in CRC Cancer Sensitivity (overall) 91% 96% 92% 91% Stage I 88% 90% 88% 90% Stage II 98% 97% Stage III 93% 98% 94% 86% AA Sensitivity 20% 92% (overall) Specificity 94% 94% 90
Slide 12: Shield technology platform
Shield technology platform Innovative multimodal and multi-analyte approach to detect CRC and AA Genomic Epigenomic Alterations Modifications Proteomics Shield integrates these signals to produce an Assessment of Analysis of Assessment of Expression of actionable result ctDNA mutations which genes a
Slide 13: Screening Modeling – Impact of adherence
Screening Modeling – Impact of adherence Even with significantly inferior performance sept9 3yr testing has superior effectiveness to other stool-based modalities. Adherence adjusted Averted Averted Averted Averted CRC CRC Adherence CRC CRC cases deaths adjusted cases deaths 1. Colonoscopy (10Y) 46
Slide 14: Unlocking a $20B opportunity for CRC screening in 2022 & beyond
Unlocking a $20B opportunity for CRC screening in 2022 & beyond Established Medicare NCD and path to private pay coverage via USPSTF Clear FDA approval and clinical validation pathway Launched ECLIPSE Submit for FDA approval MCARE Coverage Guidelines Shield LDT readout FDA approval & ADLT Status Val
Slide 15: Guardant SHIELD multi-cancer assay detects early-stage cancers
Demonstrated ability of Guardant SHIELD multi-cancer assay to accurately detect early-stage cancers CRC Lung Pancreatic Bladder Stage I and II Sensitivity 90% 87% 73% 52% Stage III and IV Sensitivity 93% 93% 84% 85% Specificity 90% 90% 95% 95% Tumor of Origin 90% 94% 88% 86% Specificity of 98% 15 Fo
Slide 16: Q1 2022 financial overview
Q1 2022 financial overview Q1’22 Q1’21 Total Revenue $96M $79M Precision Oncology Revenue $84M $64M Development Services & Other Revenue $12M $15M Gross Margin 67% 63% Operating Expenses $187M $158M Non-GAAP Operating Expenses $159M $101M Adjusted EBITDA -$87M -$45M Cash & Investments Ending Balance
Slide 17: 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 17
Slide 18: Guardant
(@) GUARDANT