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Jun 30, 2024
Guardant Health Q2 2024 Earnings Report
Reported a revenue increase of 29% driven by strong clinical and biopharma volume and Guardant360 ASP tailwinds, also Shield was approved by FDA as primary option for CRC screening and is commercially available in U.S.
Key Takeaways
Guardant Health reported a strong second quarter with a 29% increase in revenue, driven by growth in clinical and biopharma testing volume and improved reimbursement for Guardant360. The FDA approved Shield as a first-line CRC screening option, and the company raised its full-year revenue guidance for 2024.
Revenue increased by 29% year-over-year to $177.2 million.
Clinical tests grew by 14% and biopharmaceutical tests grew by 56% compared to the prior year period.
Shield received FDA approval and is commercially available in the U.S.
2024 annual revenue guidance raised to $690 to $700 million, representing 22% to 24% growth.
Revenue by Segment
Forward Guidance
Guardant Health expects full year 2024 revenue excluding screening to be in the range of $690 to $700 million, representing growth of 22% to 24% compared to full year 2023. The company continues to expect full year 2024 non-GAAP gross margin excluding screening to be in the range of 61% to 63% and total non-GAAP operating expenses to be in the range of $720 to $730 million. Free cash flow is expected to be in the range of $(275) to $(285) million.
Positive Outlook
- Revenue guidance raised to $690 to $700 million, representing 22% to 24% growth compared to full year 2023.
- Non-GAAP gross margin excluding screening expected to be in the range of 61% to 63%.
- Total non-GAAP operating expenses expected to be in the range of $720 to $730 million, representing a flat to 1% decrease compared to 2023.
- Free cash flow expected to be in the range of $(275) to $(285) million, representing an improvement of $60 million to $70 million compared to 2023.
- The company is positioned for continued growth and margin improvement.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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