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Mar 31, 2024
Guardant Health Q1 2024 Earnings Report
Reported a revenue increase of 31% driven by clinical and biopharma volume and Guardant360 ASP tailwinds.
Key Takeaways
Guardant Health reported a strong first quarter with revenue of $168.5 million, a 31% increase year-over-year. The company saw growth in both clinical and biopharma testing volume and improved free cash flow. They also raised their 2024 annual revenue guidance to $675 to $685 million.
Revenue increased by 31% to $168.5 million compared to the first quarter of 2023.
Clinical tests increased by 20% and biopharmaceutical tests increased by 37% compared to the first quarter of 2023.
Free cash flow improved to $(37.2) million compared to $(82.0) million in the prior year.
2024 annual revenue guidance raised to a new range of $675 to $685 million, representing growth of 20% to 21%.
Guardant Health
Guardant Health
Guardant Health Revenue by Segment
Revenue by Segment
Oncology Revenue
CapyFin.comBiopharma and Data Revenue
CapyFin.comLicensing and Other Revenue
CapyFin.com Forward Guidance
Guardant Health now expects full year 2024 revenue excluding screening to be in the range of $675 to $685 million, representing growth of 20% to 21% compared to full year 2023.
Positive Outlook
- Full year 2024 revenue excluding screening is expected to be in the range of $675 to $685 million.
- Revenue growth of 20% to 21% compared to full year 2023 is anticipated.
- Full year 2024 non-GAAP gross margin excluding screening is expected to be in the range of 61% to 63%.
- Total non-GAAP operating expenses are expected to be in the range of $720 to $730 million, representing a flat to 1% decrease compared to 2023.
- Free cash flow is expected to be in the range of $(275) to $(285) million in 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income