Guardant Health, Inc. (GH) Income Statement
GH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGH revenue and net income
Where GH's revenue goes
2025Each bar shows an amount and its share of revenue. GH kept −42.4% of revenue as net income.
GH profit margins
GH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +32.9% | +29.8% | +27.9% | — |
| Gross profit | +40.9% | +29.2% | +26.7% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GH quarterly EPS vs estimates
Guardant Health beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.62).
GH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $982.0M | $739.0M | $563.9M | $449.5M | $373.7M | $286.7M | $214.4M | $90.6M | $49.8M | $25.2M |
| Cost of revenue | $349.0M | $289.8M | $227.1M | $156.3M | $122.9M | $92.5M | $70.7M | $43.2M | $31.6M | $22.1M |
| Gross profit | $633.0M | $449.2M | $336.9M | $293.2M | $250.7M | $194.2M | $143.7M | $47.4M | $18.2M | $3.1M |
| Research & development | $364.2M | $347.8M | $367.2M | $373.8M | $263.2M | $149.9M | $86.3M | $50.7M | $25.6M | $10.9M |
| Sales, general & admin | $706.1M | $545.1M | $451.0M | $463.8M | $398.5M | $299.3M | $139.7M | $89.7M | $69.3M | $36.1M |
| Total operating expenses | $1.07B | $892.8M | $901.6M | $837.6M | $661.7M | $449.1M | $226.0M | $140.4M | $94.8M | $47.0M |
| Operating income | −$437.2M | −$443.6M | −$564.7M | −$544.4M | −$411.0M | −$254.9M | −$82.4M | −$92.9M | −$76.6M | −$43.8M |
| Interest income | $34.1M | $53.7M | $35.4M | $6.1M | $3.9M | $10.2M | $13.7M | $5.3M | $2.2M | $733,000 |
| Interest expense | $3.9M | $2.6M | $2.6M | $2.6M | $2.6M | $4.8M | $1.2M | $1.3M | $2.7M | $3.0M |
| Income before taxes | −$417.5M | −$435.1M | −$478.8M | −$653.4M | −$384.5M | −$245.9M | −$69.7M | −$84.2M | −$83.2M | −$46.1M |
| Income taxes | −$1.3M | $1.3M | $685,000 | $1.1M | $300,000 | $379,000 | −$1.9M | $38,000 | $7,000 | $6,000 |
| Net income | −$416.3M | −$436.4M | −$479.4M | −$654.6M | −$405.7M | −$253.8M | −$75.7M | −$85.1M | −$83.2M | −$46.1M |
| EBITDA | −$373.9M | −$390.1M | −$433.3M | −$614.9M | −$359.6M | −$225.1M | −$57.1M | −$75.8M | −$75.3M | −$39.4M |
| EPS (diluted) | −$1.82 | −$2.44 | −$3.19 | −$4.45 | −$4.00 | −$2.58 | −$0.84 | −$0.87 | −$1.18 | −$3.55 |
| Gross margin | 64.5% | 60.8% | 59.7% | 65.2% | 67.1% | 67.7% | 67.0% | 52.3% | 36.6% | 12.4% |
| Operating margin | −44.5% | −60.0% | −100.1% | −121.1% | −110.0% | −88.9% | −38.4% | −102.5% | −153.7% | −173.7% |
| Net margin | −42.4% | −59.0% | −85.0% | −145.6% | −108.6% | −88.5% | −35.3% | −93.8% | −167.0% | −182.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $335.0M | $301.7M | $281.3M | $265.2M | $232.1M | $203.5M | $201.8M | $191.5M | $177.2M | $168.5M | $155.1M | $143.0M |
| Cost of revenue | $115.9M | $104.9M | $99.5M | $93.6M | $81.2M | $74.7M | $77.6M | $74.5M | $72.4M | $65.3M | $62.5M | $57.6M |
| Gross profit | $219.0M | $196.7M | $181.8M | $171.6M | $150.9M | $128.7M | $124.2M | $117.0M | $104.8M | $103.2M | $92.5M | $85.4M |
| Research & development | $96.5M | $91.0M | $98.3M | $90.0M | $87.4M | $88.5M | $93.5M | $87.3M | $83.1M | $83.8M | $89.9M | $93.9M |
| Sales, general & admin | $251.6M | $227.1M | $204.3M | $180.6M | $169.8M | $151.3M | $156.6M | $147.0M | $122.3M | $119.1M | $116.8M | $105.1M |
| Total operating expenses | $348.1M | $318.1M | $302.6M | $270.6M | $257.3M | $239.8M | $250.2M | $234.3M | $205.4M | $202.9M | $290.0M | $199.0M |
| Operating income | −$129.1M | −$121.3M | −$120.8M | −$99.0M | −$106.4M | −$111.0M | −$126.0M | −$117.3M | −$100.6M | −$99.7M | −$197.5M | −$113.5M |
| Interest income | $10.2M | $11.2M | $10.0M | $7.4M | $7.6M | $9.1M | $11.7M | $13.3M | $13.9M | $14.9M | $13.9M | $11.7M |
| Interest expense | $1.3M | $1.3M | $1.2M | $943,000 | $983,000 | $791,000 | $645,000 | $646,000 | $645,000 | $645,000 | $645,000 | $644,000 |
| Income before taxes | −$120.0M | −$111.7M | −$130.2M | −$92.6M | −$99.9M | −$94.9M | −$110.3M | −$107.7M | −$102.5M | −$114.6M | −$187.6M | −$85.6M |
| Income taxes | $185,000 | $372,000 | −$1.7M | $136,000 | $38,000 | $290,000 | $716,000 | $30,000 | $133,000 | $405,000 | −$541,000 | $490,000 |
| Net income | −$120.1M | −$112.1M | −$128.5M | −$92.7M | −$99.9M | −$95.2M | −$111.0M | −$107.8M | −$102.6M | −$115.0M | −$187.0M | −$86.1M |
| EBITDA | −$109.0M | −$100.9M | −$119.0M | −$82.2M | −$88.8M | −$83.8M | −$99.2M | −$96.5M | −$91.2M | −$103.2M | −$176.1M | −$73.9M |
| EPS (diluted) | −$0.89 | −$0.45 | −$0.50 | −$0.39 | −$0.44 | −$0.49 | −$0.62 | −$0.88 | −$0.48 | −$0.46 | −$0.64 | −$0.67 |
| Gross margin | 65.4% | 65.2% | 64.6% | 64.7% | 65.0% | 63.3% | 61.6% | 61.1% | 59.1% | 61.2% | 59.7% | 59.7% |
| Operating margin | −38.5% | −40.2% | −43.0% | −37.3% | −45.9% | −54.6% | −62.4% | −61.3% | −56.8% | −59.2% | −127.4% | −79.4% |
| Net margin | −35.9% | −37.2% | −45.7% | −35.0% | −43.0% | −46.8% | −55.0% | −56.3% | −57.9% | −68.2% | −120.6% | −60.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GH's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GH financial results
In fiscal year 2025 (ended December 31, 2025), Guardant Health reported revenue of $982.0 million, up 32.9% from the year before. It had a net loss of $416.3 million, a net profit margin of −42.4%. Diluted earnings per share came to −$1.82. Over five years revenue grew at an average rate of 27.9% a year.
See the GH stock overview for the latest quote and news, or the GH chart for price history and technical indicators.
GH income statement FAQ
What is Guardant Health's annual revenue?
Guardant Health reported total revenue of $982.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 32.9% from $739.0 million the previous year.
Is Guardant Health profitable?
No. Guardant Health reported a net loss of $416.3 million in fiscal 2025, a net profit margin of −42.4%; its operating margin was −44.5%.
What is Guardant Health's gross margin?
Guardant Health's gross margin was 64.5% in fiscal 2025: for every $100 of revenue, Guardant Health kept $64 after the direct cost of its products and services.
How much does Guardant Health spend on research and development?
Guardant Health spent $364.2 million on research and development in fiscal 2025, 37.1% of revenue.
How fast is Guardant Health growing?
Revenue grew 27.9% a year on average over the last five fiscal years, from $286.7 million to $982.0 million.
What are Guardant Health's earnings per share?
Guardant Health earned $-1.82 per diluted share in fiscal 2025, compared with $-2.44 a year earlier.
When will Guardant Health report its next earnings?
Guardant Health is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Guardant Health's fiscal year end?
Guardant Health's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.