Guardant Health Reports Fourth Quarter and Full Year 2024 Financial Results and Provides 2025 Outlook
Full year 2024 total revenue growth of
Expects full year 2025 total revenue to be in the range of
Fourth Quarter 2024 Financial Highlights
For the three-month period ended December 31, 2024, as compared to the same period of 2023:
-
Total revenue of
$201.8 million 30% -
Reported approximately 57,300 oncology clinical tests (excluding Shield) and approximately 11,050 biopharma tests, an increase of
24% and16% , respectively -
Reported approximately 6,400 Shield screening tests, with revenue of
$4.1 million
Full Year 2024 Financial Highlights
For the twelve-month period ended December 31, 2024, as compared to the same period of 2023:
-
Total revenue of
$739.0 million 31% -
Reported approximately 206,700 oncology clinical tests (excluding Shield) and approximately 40,500 biopharma tests, an increase of
20% and35% , respectively -
Improved full year 2024 free cash flow burn to
$275 million $345 million
Recent Operating Highlights
- Received Medicare coverage for Guardant Reveal on Smart Liquid Biopsy platform for colorectal cancer surveillance
- Shield selected by NIH for inclusion in the Vanguard multi cancer detection study based on strong feasibility data in predicting presence of ten cancer types and cancer site of origin
-
Shield selected for a government funded population scale screening program in
Abu Dhabi and surrounding regions - Entered into a collaboration with ConcertAI to create a differentiated data-as-a-service platform that integrates comprehensive EMR records with both genomic and epigenomic tumor profiling data to accelerate cancer therapy research and development
- Entered into a strategic collaboration with Boehringer Ingelheim to develop a companion diagnostic for zongertinib to detect specific mutations in non-small cell lung cancer
-
Completed a convertible debt exchange to extend the maturity on
$600 million
“We fired on all cylinders throughout 2024, delivering remarkable revenue growth and upgrading our products to our smart liquid biopsy platform,” said Helmy Eltoukhy, co-founder and co-CEO. “Last month, we were pleased to receive Medicare reimbursement for Guardant Reveal in the CRC surveillance setting, which was an important milestone for our MRD business. We are entering 2025 with a strong oncology product portfolio and anticipate volume acceleration across all our products this year.”
“We made strong progress with Shield during Q4, our first full quarter since commercial launch,” said AmirAli Talasaz, co-founder and co-CEO. “We screened thousands of patients with our simple blood test and are looking forward to scaling our impact quickly. Beyond CRC, the selection of Shield for the NIH Vanguard study underscores the strength of our platform and establishes our leadership in the field of multi cancer detection. With a robust pipeline of catalysts in front of us, we are excited to execute on the opportunities ahead in 2025.”
Fourth Quarter 2024 Financial Results
Revenue was
Gross profit, or total revenue less cost of precision oncology testing and cost of development services and other, was
Non-GAAP gross profit was
Non-GAAP gross profit excluding screening was
Operating expenses (research and development expense, sales and marketing expense, and general and administrative expense) were
Net loss was
Non-GAAP net loss was
Adjusted EBITDA loss was
Free cash flow for the fourth quarter of 2024 was
Full Year 2024 Financial Results
Revenue was
Gross profit, or total revenue less cost of precision oncology testing and cost of development services and other, was
Non-GAAP gross profit was
Non-GAAP gross profit excluding screening was
Operating expenses (research and development expense, sales and marketing expense, and general and administrative expense) were
Net loss was
Non-GAAP net loss was
Adjusted EBITDA loss was
Free cash flow for 2024 was
Cash, cash equivalents, restricted cash and marketable debt securities were
In February 2025, Guardant Health entered into privately negotiated exchange agreements with certain holders of the outstanding
2025 Guidance
Guardant Health expects full year 2025 revenue to be in the range of
Within this revenue range,
-
Oncology revenue is expected to grow approximately
15% year over year in 2025. Excluding non-recurring, out of period revenue recorded in 2024, this range implies oncology revenue growth of approximately20% . Oncology clinical volume is expected to accelerate to approximately25% growth in 2025 compared to20% growth in 2024. -
Screening revenue is expected to be in the range of
$25 $30 million - Biopharma & data revenue growth is expected to be in the low double-digit range.
Guardant Health expects full year 2025 non-GAAP gross margin to be in the range of
Webcast Information
Guardant Health will host a conference call to discuss the fourth quarter and full year 2024 financial results after market close on Thursday, February 20, 2025 at 1:30 pm Pacific Time / 4:30 pm Eastern Time. A webcast of the conference call can be accessed at http://investors.guardanthealth.com. The webcast will be archived and available for replay for at least 90 days after the event.
Non-GAAP Measures
Guardant Health has presented in this release certain financial information in accordance with
We define our non-GAAP measures as the applicable GAAP measure adjusted for the impacts of stock-based compensation and related employer payroll tax payments, contingent consideration, amortization of intangible assets, unrealized and realized gains and losses on marketable equity securities, impairment of non-marketable equity securities and other related assets, and other non-recurring items.
Adjusted EBITDA is defined as net loss adjusted for interest income; interest expense; other income (expense), net; provision for (benefit from) income taxes; depreciation and amortization expense; stock-based compensation expense and related employer payroll tax payments; contingent consideration; and other non-recurring items. Free cash flow is defined as net cash used in operating activities in the period less purchases of property and equipment in the period.
We believe that the exclusion of certain income and expenses in calculating these non-GAAP financial measures can provide a useful measure for investors when comparing our period-to-period core operating results, and when comparing those same results to that published by our peers. We exclude certain items because we believe that these income and expenses do not reflect expected future operating performance. Additionally, certain items are inconsistent in amounts and frequency, making it difficult to perform a meaningful evaluation of our current or past operating performance. We use these non-GAAP financial measures to evaluate ongoing operations, for internal planning and forecasting purposes, and to manage our business.
These non-GAAP financial measures are not intended to be considered in isolation from, as substitute for, or as superior to, the corresponding financial measures prepared in accordance with GAAP. There are limitations inherent in non-GAAP financial measures because they exclude charges and credits that are required to be included in a GAAP presentation, and do not present the full measure of our recorded costs against its revenue. In addition, our definition of the non-GAAP financial measures may differ from non-GAAP measures used by other companies.
About Guardant Health
Guardant Health is a leading precision oncology company focused on guarding wellness and giving every person more time free from cancer. Founded in 2012, Guardant is transforming patient care and accelerating new cancer therapies by providing critical insights into what drives disease through its advanced blood and tissue tests, real-world data and AI analytics. Guardant tests help improve outcomes across all stages of care, including screening to find cancer early, monitoring for recurrence in early-stage cancer, and treatment selection for patients with advanced cancer. For more information, visit guardanthealth.com and follow the company on LinkedIn, X (Twitter) and Facebook.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding the potential utilities, values, benefits and advantages of Guardant Health’s liquid biopsy tests or assays, which involve risks and uncertainties that could cause the actual results to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions, and actual outcomes and results could differ materially from these statements due to a number of factors. These and additional risks and uncertainties that could affect Guardant Health’s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release include those discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” and elsewhere in its Annual Report on Form 10-K for the year ended December 31, 2024, and in its other reports filed with or furnished to the Securities and Exchange Commission thereafter. The forward-looking statements in this press release are based on information available to Guardant Health as of the date hereof, and Guardant Health disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing Guardant Health’s views as of any date subsequent to the date of this press release.
Guardant Health, Inc. Condensed Consolidated Statements of Operations (unaudited) (in thousands, except per share data) |
|||||||||||||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
||||||||
Revenue: |
|
|
|
|
|
|
|
||||||||
Precision oncology testing |
$ |
184,585 |
|
|
$ |
142,189 |
|
|
$ |
687,936 |
|
|
$ |
514,249 |
|
Development services and other |
|
17,229 |
|
|
|
12,865 |
|
|
|
51,080 |
|
|
|
49,699 |
|
Total revenue |
|
201,814 |
|
|
|
155,054 |
|
|
|
739,016 |
|
|
|
563,948 |
|
Costs and operating expenses: |
|
|
|
|
|
|
|
||||||||
Cost of precision oncology testing |
|
69,465 |
|
|
|
57,417 |
|
|
|
260,581 |
|
|
|
205,528 |
|
Cost of development services and other |
|
8,128 |
|
|
|
5,100 |
|
|
|
29,218 |
|
|
|
21,524 |
|
Research and development expense |
|
93,543 |
|
|
|
89,856 |
|
|
|
347,753 |
|
|
|
367,194 |
|
Sales and marketing expense |
|
104,763 |
|
|
|
79,127 |
|
|
|
364,935 |
|
|
|
295,227 |
|
General and administrative expense |
|
51,880 |
|
|
|
37,665 |
|
|
|
180,123 |
|
|
|
155,800 |
|
Other operating expense |
|
— |
|
|
|
83,400 |
|
|
|
— |
|
|
|
83,400 |
|
Total costs and operating expenses |
|
327,779 |
|
|
|
352,565 |
|
|
|
1,182,610 |
|
|
|
1,128,673 |
|
Loss from operations |
|
(125,965 |
) |
|
|
(197,511 |
) |
|
|
(443,594 |
) |
|
|
(564,725 |
) |
Interest income |
|
11,653 |
|
|
|
13,888 |
|
|
|
53,691 |
|
|
|
35,365 |
|
Interest expense |
|
(645 |
) |
|
|
(645 |
) |
|
|
(2,581 |
) |
|
|
(2,578 |
) |
Other income (expense), net |
|
4,667 |
|
|
|
(3,316 |
) |
|
|
(42,605 |
) |
|
|
53,174 |
|
Loss before provision for income taxes |
|
(110,290 |
) |
|
|
(187,584 |
) |
|
|
(435,089 |
) |
|
|
(478,764 |
) |
Provision for (benefit from) income taxes |
|
716 |
|
|
|
(541 |
) |
|
|
1,284 |
|
|
|
685 |
|
Net loss |
$ |
(111,006 |
) |
|
$ |
(187,043 |
) |
|
$ |
(436,373 |
) |
|
$ |
(479,449 |
) |
Net loss per share, basic and diluted |
$ |
(0.90 |
) |
|
$ |
(1.58 |
) |
|
$ |
(3.56 |
) |
|
$ |
(4.28 |
) |
Weighted-average shares used in computing net loss per share, basic and diluted |
|
123,754 |
|
|
|
118,508 |
|
|
|
122,745 |
|
|
|
111,988 |
|
Guardant Health, Inc. Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share and per share data) |
|||||||
|
December 31, 2024 |
|
December 31, 2023 |
||||
ASSETS |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
525,540 |
|
|
$ |
1,133,537 |
|
Short-term marketable debt securities |
|
314,438 |
|
|
|
35,097 |
|
Accounts receivable, net |
|
110,253 |
|
|
|
88,783 |
|
Inventory, net |
|
71,083 |
|
|
|
61,948 |
|
Prepaid expenses and other current assets, net |
|
33,800 |
|
|
|
27,741 |
|
Total current assets |
|
1,055,114 |
|
|
|
1,347,106 |
|
Restricted cash |
|
104,215 |
|
|
|
150 |
|
Property and equipment, net |
|
136,813 |
|
|
|
145,096 |
|
Right-of-use assets, net |
|
142,265 |
|
|
|
157,616 |
|
Intangible assets, net |
|
6,760 |
|
|
|
8,979 |
|
Goodwill |
|
3,290 |
|
|
|
3,290 |
|
Other assets, net |
|
37,152 |
|
|
|
124,184 |
|
Total Assets |
$ |
1,485,609 |
|
|
$ |
1,786,421 |
|
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) |
|
|
|
||||
Current liabilities: |
|
|
|
||||
Accounts payable |
$ |
38,551 |
|
|
$ |
51,741 |
|
Accrued compensation |
|
83,219 |
|
|
|
72,736 |
|
Accrued expenses |
|
68,345 |
|
|
|
63,475 |
|
Deferred revenue |
|
35,468 |
|
|
|
17,965 |
|
Total current liabilities |
|
225,583 |
|
|
|
205,917 |
|
Convertible senior notes, net |
|
1,142,547 |
|
|
|
1,139,966 |
|
Long-term operating lease liabilities |
|
164,292 |
|
|
|
185,848 |
|
Other long-term liabilities |
|
92,834 |
|
|
|
96,006 |
|
Total Liabilities |
|
1,625,256 |
|
|
|
1,627,737 |
|
Stockholders’ equity (deficit): |
|
|
|
||||
Common stock, par value of |
|
1 |
|
|
|
1 |
|
Additional paid-in capital |
|
2,443,788 |
|
|
|
2,304,220 |
|
Accumulated other comprehensive loss |
|
(5,201 |
) |
|
|
(3,675 |
) |
Accumulated deficit |
|
(2,578,235 |
) |
|
|
(2,141,862 |
) |
Total Stockholders’ Equity (Deficit) |
|
(139,647 |
) |
|
|
158,684 |
|
Total Liabilities and Stockholders’ Equity (Deficit) |
$ |
1,485,609 |
|
|
$ |
1,786,421 |
|
Guardant Health, Inc. Reconciliation of Selected GAAP Measures to Non-GAAP Measures (unaudited) (in thousands, except per share data) |
|||||||||||||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP cost of precision oncology testing |
$ |
69,465 |
|
|
$ |
57,417 |
|
|
$ |
260,581 |
|
|
$ |
205,528 |
|
Amortization of intangible assets |
|
(151 |
) |
|
|
(151 |
) |
|
|
(601 |
) |
|
|
(599 |
) |
Stock-based compensation expense and related employer payroll tax payments |
|
(1,337 |
) |
|
|
(1,164 |
) |
|
|
(5,429 |
) |
|
|
(4,727 |
) |
Non-GAAP cost of precision oncology testing |
$ |
67,977 |
|
|
$ |
56,102 |
|
|
$ |
254,551 |
|
|
$ |
200,202 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP cost of development services and other |
$ |
8,128 |
|
|
$ |
5,100 |
|
|
$ |
29,218 |
|
|
$ |
21,524 |
|
Amortization of intangible assets |
|
— |
|
|
|
(201 |
) |
|
|
(267 |
) |
|
|
(804 |
) |
Stock-based compensation expense and related employer payroll tax payments |
|
(656 |
) |
|
|
(466 |
) |
|
|
(4,065 |
) |
|
|
(1,857 |
) |
Non-GAAP cost of development services and other |
$ |
7,472 |
|
|
$ |
4,433 |
|
|
$ |
24,886 |
|
|
$ |
18,863 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP gross profit |
$ |
124,221 |
|
|
$ |
92,537 |
|
|
$ |
449,217 |
|
|
$ |
336,896 |
|
Amortization of intangible assets |
|
151 |
|
|
|
352 |
|
|
|
868 |
|
|
|
1,403 |
|
Stock-based compensation expense and related employer payroll tax payments |
|
1,993 |
|
|
|
1,630 |
|
|
|
9,494 |
|
|
|
6,584 |
|
Non-GAAP gross profit |
$ |
126,365 |
|
|
$ |
94,519 |
|
|
$ |
459,579 |
|
|
$ |
344,883 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP cost of screening |
$ |
4,702 |
|
|
$ |
3,453 |
|
|
$ |
16,810 |
|
|
$ |
13,476 |
|
Amortization of intangible assets |
|
— |
|
|
|
(201 |
) |
|
|
(267 |
) |
|
|
(804 |
) |
Stock-based compensation expense and related employer payroll tax payments |
|
(656 |
) |
|
|
(466 |
) |
|
|
(4,065 |
) |
|
|
(1,857 |
) |
Non-GAAP cost of screening |
$ |
4,046 |
|
|
$ |
2,786 |
|
|
$ |
12,478 |
|
|
$ |
10,815 |
|
Screening revenue |
|
4,121 |
|
|
|
— |
|
|
|
5,124 |
|
|
|
— |
|
Non-GAAP gross profit excluding screening |
$ |
126,290 |
|
|
$ |
97,305 |
|
|
$ |
466,933 |
|
|
$ |
355,698 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP research and development expense |
$ |
93,543 |
|
|
$ |
89,856 |
|
|
$ |
347,753 |
|
|
$ |
367,194 |
|
Stock-based compensation expense and related employer payroll tax payments |
|
(12,397 |
) |
|
|
(9,409 |
) |
|
|
(51,212 |
) |
|
|
(35,286 |
) |
Contingent consideration |
|
— |
|
|
|
(450 |
) |
|
|
(675 |
) |
|
|
(2,082 |
) |
Non-GAAP research and development expense |
$ |
81,146 |
|
|
$ |
79,997 |
|
|
$ |
295,866 |
|
|
$ |
329,826 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP sales and marketing expense |
$ |
104,763 |
|
|
$ |
79,127 |
|
|
$ |
364,935 |
|
|
$ |
295,227 |
|
Stock-based compensation expense and related employer payroll tax payments |
|
(8,997 |
) |
|
|
(6,438 |
) |
|
|
(36,871 |
) |
|
|
(25,095 |
) |
Non-GAAP sales and marketing expense |
$ |
95,766 |
|
|
$ |
72,689 |
|
|
$ |
328,064 |
|
|
$ |
270,132 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP general and administrative expense |
$ |
51,880 |
|
|
$ |
37,665 |
|
|
$ |
180,123 |
|
|
$ |
155,800 |
|
Amortization of intangible assets |
|
(340 |
) |
|
|
(339 |
) |
|
|
(1,351 |
) |
|
|
(1,345 |
) |
Stock-based compensation expense and related employer payroll tax payments |
|
(13,519 |
) |
|
|
(7,081 |
) |
|
|
(44,410 |
) |
|
|
(25,098 |
) |
Contingent consideration |
|
(250 |
) |
|
|
120 |
|
|
|
(1,010 |
) |
|
|
(110 |
) |
Non-GAAP general and administrative expense |
$ |
37,771 |
|
|
$ |
30,365 |
|
|
$ |
133,352 |
|
|
$ |
129,247 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP other operating expense |
$ |
— |
|
|
$ |
83,400 |
|
|
$ |
— |
|
|
$ |
83,400 |
|
Non-recurring other operating expense |
|
— |
|
|
|
(83,400 |
) |
|
|
— |
|
|
|
(83,400 |
) |
Non-GAAP other operating expense |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
||||||||
GAAP loss from operations |
$ |
(125,965 |
) |
|
$ |
(197,511 |
) |
|
$ |
(443,594 |
) |
|
$ |
(564,725 |
) |
Amortization of intangible assets |
|
491 |
|
|
|
691 |
|
|
|
2,219 |
|
|
|
2,748 |
|
Stock-based compensation expense and related employer payroll tax payments |
|
36,906 |
|
|
|
24,558 |
|
|
|
141,987 |
|
|
|
92,063 |
|
Contingent consideration |
|
250 |
|
|
|
330 |
|
|
|
1,685 |
|
|
|
2,192 |
|
Non-recurring other operating expense |
|
— |
|
|
|
83,400 |
|
|
|
— |
|
|
|
83,400 |
|
Non-GAAP loss from operations |
$ |
(88,318 |
) |
|
$ |
(88,532 |
) |
|
$ |
(297,703 |
) |
|
$ |
(384,322 |
) |
|
|
|
|
|
|
|
|
||||||||
GAAP net loss |
$ |
(111,006 |
) |
|
$ |
(187,043 |
) |
|
$ |
(436,373 |
) |
|
$ |
(479,449 |
) |
Amortization of intangible assets |
|
491 |
|
|
|
691 |
|
|
|
2,219 |
|
|
|
2,748 |
|
Stock-based compensation expense and related employer payroll tax payments |
|
36,906 |
|
|
|
24,558 |
|
|
|
141,987 |
|
|
|
92,063 |
|
Contingent consideration |
|
250 |
|
|
|
330 |
|
|
|
1,685 |
|
|
|
2,192 |
|
Non-recurring other operating expense |
|
— |
|
|
|
83,400 |
|
|
|
— |
|
|
|
83,400 |
|
Unrealized and realized (gains) losses on marketable equity securities |
|
(2,824 |
) |
|
|
4,803 |
|
|
|
44,401 |
|
|
|
(79,710 |
) |
Impairment of non-marketable equity securities and other related assets |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
29,054 |
|
Non-recurring other income |
|
(1,100 |
) |
|
|
(2,631 |
) |
|
|
(1,100 |
) |
|
|
(2,631 |
) |
Non-GAAP net loss |
$ |
(77,283 |
) |
|
$ |
(75,892 |
) |
|
$ |
(247,181 |
) |
|
$ |
(352,333 |
) |
|
|
|
|
|
|
|
|
||||||||
GAAP net loss per share, basic and diluted |
$ |
(0.90 |
) |
|
$ |
(1.58 |
) |
|
$ |
(3.56 |
) |
|
$ |
(4.28 |
) |
Non-GAAP net loss per share, basic and diluted |
$ |
(0.62 |
) |
|
$ |
(0.64 |
) |
|
$ |
(2.01 |
) |
|
$ |
(3.15 |
) |
Weighted-average shares used in computing GAAP and Non-GAAP net loss per share, basic and diluted |
|
123,754 |
|
|
|
118,508 |
|
|
|
122,745 |
|
|
|
111,988 |
|
Reconciliation of GAAP Net Loss to Adjusted EBITDA |
|||||||||||||||
(unaudited) (in thousands) |
|||||||||||||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
||||||||
GAAP net loss |
$ |
(111,006 |
) |
|
$ |
(187,043 |
) |
|
$ |
(436,373 |
) |
|
$ |
(479,449 |
) |
Interest income |
|
(11,653 |
) |
|
|
(13,888 |
) |
|
|
(53,691 |
) |
|
|
(35,365 |
) |
Interest expense |
|
645 |
|
|
|
645 |
|
|
|
2,581 |
|
|
|
2,578 |
|
Other expense (income), net |
|
(4,667 |
) |
|
|
3,316 |
|
|
|
42,605 |
|
|
|
(53,174 |
) |
Provision for (benefit from) income taxes |
|
716 |
|
|
|
(541 |
) |
|
|
1,284 |
|
|
|
685 |
|
Depreciation and amortization |
|
10,454 |
|
|
|
10,868 |
|
|
|
42,387 |
|
|
|
42,881 |
|
Stock-based compensation expense and related employer payroll tax payments |
|
36,906 |
|
|
|
24,558 |
|
|
|
141,987 |
|
|
|
92,063 |
|
Contingent consideration |
|
250 |
|
|
|
330 |
|
|
|
1,685 |
|
|
|
2,192 |
|
Non-recurring other operating expense |
|
— |
|
|
|
83,400 |
|
|
|
— |
|
|
|
83,400 |
|
Adjusted EBITDA |
$ |
(78,355 |
) |
|
$ |
(78,355 |
) |
|
$ |
(257,535 |
) |
|
$ |
(344,189 |
) |
Reconciliation of Free Cash Flow to Net Cash Used in Operating Activities |
|||||||||||||||
(unaudited) (in thousands) |
|||||||||||||||
|
Three Months Ended December 31, |
|
Twelve Months Ended December 31, |
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
||||||||
Net cash used in operating activities |
$ |
(64,513 |
) |
|
$ |
(78,728 |
) |
|
$ |
(239,858 |
) |
|
$ |
(324,975 |
) |
Purchases of property and equipment |
|
(18,875 |
) |
|
|
(4,077 |
) |
|
|
(35,085 |
) |
|
|
(20,486 |
) |
Free cash flow |
$ |
(83,388 |
) |
|
$ |
(82,805 |
) |
|
$ |
(274,943 |
) |
|
$ |
(345,461 |
) |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250220619253/en/
Investor Contact:
Zarak Khurshid
investors@guardanthealth.com
Media Contact:
Melissa Marasco
press@guardanthealth.com
+1 650-647-3711
Source: Guardant Health, Inc.
