Q1 2026 Earnings Call

Conquering Cancer with Data

Q1 2026

May 7, 2026

One platform for the entire patient journey

Profiling

Monitoring

Screening

Tumor detected

Surgery

MRD

Monitoring

Profiling

3

Q1 revenue accelerates to 48% growth

Revenue

+48%

$302M

$203M

Q1 2025 Q1 2026

Oncology Biopharma & Data Screening Licensing & Other 4



Oncology drives growth with strong revenue and volume expansion

Oncology Revenue

$205M

$151M

Oncology Volume

YoY Growth

86K

59K

36%

YoY Growth

47%

Q1 2025

Q1 2026

Q1 2025

Q1 2026

5

Multi-product momentum driving Oncology volume acceleration

Y/Y Growth

14%

Oncology Volume

21% 24% 25% 30% 40% 38% 47%

Guardant360 Liquid y/y volume growth of approximately 30% driven by Smart Platform

Wave 1

END OF TEMPLATE

Wave 2

CRC Surveillance Reimbursement

Upgrade

Wave 3

Therapy Monitoring Launch

Guardant360 Tissue remains second fastest growing Oncology product with volume growth accelerating in Q1

Reveal continues to be the fastest growing Oncology product with volume growth exceeding 100% y/y

Q2 '24 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26

Smart Apps Launch

6

Rapidly scaling data + InfinityAI is fueling innovation and widening competitive moat

>1,000,000

PATIENT SAMPLES

>500,000

EPIGENETIC PROFILES

>100

TUMOR TYPES

Genomics Multi-modal Claims

Longitudinal Data EMR

Smart Apps

New product development

Novel biological signatures

Real world data generation

Faster regulatory approval

7

Liang et al

Ademuyiwa et al

CRC Surveillance COSMOS Breast Surveillance Elliot et al, IO Monitoring RADIOHEAD,

Chemo Monitoring RWE

Submitted for publication

5+

Tumor Types

Published and submitted to MolDx

CDK4/6 Monitoring Multiple

MRD/Surveillance Multiple

Covered by

edicare

MolDx is the Molecular Diagnostic Services Program to identify and establish Federal coverage reimbursement for molecular diagnostic tests

8

Strong Reveal data pipeline supporting indication expansion

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 approved liquid biopsy for therapy selection

Streamlines therapy selection portfolio

Second major platform upgrade in less than a year for Guardant360 Tissue

Further expands transcriptomic power of the Smart Platform

9

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

  Multi-modal modeling:

• Integration of clinical + genomic + epigenomic data

  Improved detection of challenging genomic alterations with epigenomics:

• ALK-fusion rescue

• MTAP deletions

38

Abstracts

6 Orals

10

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

$45M

17%

$53M

advanced breast cancer

FDA approval of Guardant360 CDx as a companion diagnostic for Pfizer's Braftovi in BRAF V600E-mutant metastatic colorectal cancer

Guardant InfinityAI contributed to the first tumor agnostic approval of Daiichi's ENHERTU® in Japan

Collaboration with Merck to develop companion diagnostics and commercialize new therapies

Q1 2025 Q1 2026

Collaboration with Nuvalent to develop companion diagnostics in targeted cancer therapy, with initial emphasis on Guardant360 Tissue

11

Shield momentum continues to drive rapid revenue and volume growth

Screening Revenue

$42M

$6M

Screening Volume

44K

9K

Q1 2025

Q1 2026

Q1 2025

Q1 2026

12

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

Launched Shield Multi-Cancer Detection (MCD) in Asia through Manulife partnership

13

DTC campaigns across TV and digital driving strong consumer engagement

1414

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

Improving the Shield experience through product enhancements

2-tube Shield kit now FDA approved

16

Shield is a multi-cancer detection platform

When Shield is ordered for CRC screening:

Physician opts in to receive MCD results report

Patient authorizes release of medical data

CRC

CRC

Bladder

Lung

Liver

Ovarian

Multi-cancer

Stomach

Esophageal

Pancreatic

Prostate

Breast

17

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

SINGAPORE

PHILIPPINES

18

Revenue growth acceleration led by Oncology & Screening

19

Q1 2026 non-GAAP financial highlights

Cash & investments5 $1.2B $1.3B

1. Gross margin is defined as gross profit divided by total revenue.

2. Non-GAAP measures are defined as the applicable GAAP measures adjusted for the impacts of stock-based compensation and related employer payroll tax payments, contingent consideration, amortization of intangible assets, impairment of non-marketable equity securities, gain on extinguishment of convertible notes, and other non-recurring items. Please refer to the relevant non-GAAP tables in the associated press release for reference.

   
   
   

3. Adjusted EBITDA is defined as net loss adjusted for interest income; interest expense; other income (expense), net; provision for income taxes; depreciation and amortization expense; stock-based

   compensation expense and related employer payroll tax payments; contingent consideration; and other non-recurring items. 20

4. Free cash flow is defined as net cash used in operating activities in the period less purchase of property and equipment in the period.

5. Cash & investments include cash, cash equivalents, restricted cash & marketable securities.