Guardant Health Q2 Revenues Rise 44 Percent on Oncology and Shield Growth
The cancer testing company announced it has received FDA approval for a higher-throughput, lower-cost Shield workflow.
Guardant Health said on July 30 that its second quarter revenue rose 44 percent year over year.
The Palo Alto, California-based precision oncology company reported Q2 revenue of $335.0 million, up from $232.1 million in Q2 2025, beating the consensus Wall Street estimate of $314.4 million.
“Our second-quarter performance reflected broad-based momentum across the Guardant portfolio,” co-CEO Helmy Eltoukhy said in a statement. “Growth was fueled by strong oncology volume, with acceleration across every product.”
Oncology revenue grew 38 percent to $219.1 million from $158.7 million a year ago, driven by a 63 percent increase in oncology test volume to approximately 104,000 tests. Within Oncology, Guardant360 Liquid volume growth accelerated to more than 30 percent year over year following FDA approval of the Guardant360 Liquid CDx, and Guardant Reveal, the company’s therapy monitoring product, posted volume growth in excess of 100 percent year over year. Biopharma and data revenue grew 9 percent to $60.9 million from $56.0 million a year ago. Licensing and other revenue was $2.1 million, down from $2.6 million a year ago.
Screening revenue, driven by the Shield colorectal cancer blood test, surged more than 250 percent to $52.9 million from $14.8 million a year ago, as Shield test volume more than quadrupled to 66,000 tests. During the quarter, Shield was included in the American Cancer Society’s updated colorectal cancer screening guidelines and will be covered by UnitedHealth Group, the first major commercial insurer to cover the test, beginning Aug. 1.
The company’s net loss for the quarter was $120.1 million, or $.90 per share, compared to a loss of $99.9 million, or $.80 per share, in Q2 2025. Adjusted loss per share was $.42, missing the consensus Wall Street estimate of $.39 loss per share.
Guardant’s R&D expenses rose 10 percent to $96.5 million from $87.4 million a year ago. SG&A expenses rose 41 percent to $251.6 million from $169.8 million a year ago, reflecting commercial infrastructure expansion and marketing activities to support Shield and Oncology growth.
As of June 30, Guardant had $1.05 billion in cash and cash equivalents and $114.3 million in restricted cash.
Guardant raised its full-year 2026 revenue guidance to $1.34 billion to $1.36 billion, representing year over year growth of 36 to 38 percent, from a prior range of $1.30 billion to $1.32 billion. Within that range, Oncology revenue is now expected to grow approximately 30 percent, up from prior guidance of 28 to 29 percent, with Oncology volume now expected to grow approximately 50 percent, up from a prior target of approximately 35 percent. Screening revenue is expected to be in the range of $218 million to $230 million on Shield volume of 270,000 to 285,000 tests, up from prior guidance of $186 million to $198 million on 230,000 to 245,000 tests.