Guardant Health (GH) Q3 FY2026 earnings: revenue $361 million, up 36.1% on the year

Guardant Health, Inc. (GH) reported revenue of $361 million for Q3 FY2026, the quarter ended 30 September 2026, up 36.1% on the same quarter a year earlier. Net income was -$124 million, and diluted earnings per share $-0.93. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$361 million

+36.1% on the year · +7.8% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-36.8%

-37.3% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$124 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.93

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 6 raised, 1 narrowed, 2 kept.

Revenue rose 36% year over year: Total revenue was $361.0 million, with Oncology, Screening and Biopharma & Data cited as drivers of the increase.
Screening revenue up 180%: Screening revenue reached $67.6 million, from $24.1 million, driven primarily by Shield test volume growth.
Breast cancer companion diagnostic approved: FDA approval and European CE-marking for Guardant360 CDx as companion diagnostic for AstraZeneca's camizestrant, the first such FDA approval for longitudinal breast cancer testing.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	361	335	265	+7.8%	+36.1%
Cost of revenue	125	116	93.6	+7.7%	+33.4%
Gross profit	236	219	172	+7.8%	+37.6%
Gross margin	65.4%	65.4%	64.7%
Research and development	101	96.5	90.0	+4.5%	+12.1%
Operating income	-133	-129	-99.0
Operating margin	-36.8%	-38.5%	-37.3%
Interest expense	1.3	1.3	0.9	-0.1%	+42.6%
Pre-tax income	-124	-120	-92.6
Income tax	0.3	0.2	0.1	+85.4%	+152.2%
Net income	-124	-120	-92.7
Net margin	-34.5%	-35.9%	-35.0%
Diluted EPS	-$0.93	-$0.90	-$0.74

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	-23.7	-57.8	-35.4
Capital expenditure	13.5	11.8	10.3	+14.6%	+30.2%
Free cash flow	-37.2	-69.5	-45.8
Free cash flow margin	-10.3%	-20.8%	-17.3%
Cash from investing	-13.5	101	-14.3
Cash from financing	15.0	23.0	4.3	-34.8%	+246.6%
Depreciation and amortisation	10.2	9.6	9.4	+6.2%	+8.5%
Share-based compensation	62.4	57.7	42.8	+8.2%	+45.8%
Buybacks	0.0	0.0	0.0
Diluted shares, weighted	134m	133m	125m	+1.2%	+7.7%
Shares outstanding at period end	135m	134m	125m	+0.8%	+7.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	-276	-223	-354
Debt	1,502	1,503	1,115	-0.0%	+34.8%
Operating lease liabilities	160	166	185	-3.7%	-13.6%
Other liabilities	499	466	331	+7.1%	+50.6%
Total liabilities and equity	1,886	1,912	1,277	-1.4%	+47.7%
Fixed assets	151	155	125	-2.5%	+21.6%
Goodwill	77.3	77.3	3.3	0.0%	+2,248.2%
Intangible assets	25.0	25.3	5.5	-1.1%	+356.2%
Investments	0.0	0.0	0.0
Cash and equivalents	1,027	1,053	580	-2.5%	+77.0%
Receivables	187	144	116	+29.3%	+61.4%
Inventory	93.5	105	90.5	-11.4%	+3.3%
Other assets	325	351	357	-7.5%	-9.0%
Total assets	1,886	1,912	1,277	-1.4%	+47.7%

Questions

What was Guardant Health's revenue in Q3 FY2026?

Guardant Health (GH) reported revenue of $361 million for Q3 FY2026, the quarter ended 30 September 2026, up 36.1% on the same quarter a year earlier.

How much did Guardant Health earn in Q3 FY2026?

Net loss for Q3 FY2026 was $124 million, and the diluted loss per share $0.93.

When did Guardant Health report Q3 FY2026 results?

Guardant Health filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	108	96.1	109	117	127	129	137	143	155	168	177	191	202	203	232	265	281	302	335	361
Cost of revenue	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	65.3	72.4	74.5	77.6	74.7	81.2	93.6	99.5	105	116	125
Gross profit	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	103	105	117	124	129	151	172	182	197	219	236
Gross margin	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	61%	59%	61%	62%	63%	65%	65%	65%	65%	65%	65%
R&D	73.0	81.8	85.5	100	107	93.1	90.4	93.9	89.9	83.8	83.1	87.3	93.5	88.5	87.4	90.0	98.3	91.0	96.5	101
Operating income	-98.2	-123	-130	-145	-146	-134	-120	-114	-198	-99.7	-101	-117	-126	-111	-106	-99.0	-121	-121	-129	-133
Operating margin	-91%	-128%	-119%	-123%	-115%	-104%	-87%	-79%	-127%	-59%	-57%	-61%	-62%	-55%	-46%	-37%	-43%	-40%	-39%	-37%
Interest expense	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.8	1.0	0.9	1.2	1.3	1.3	1.3
Pre-tax income	-72.3	-123	-229	-162	-139	-133	-72.3	-85.6	-188	-115	-102	-108	-110	-94.9	-99.9	-92.6	-130	-112	-120	-124
Net income	-90.9	-123	-229	-162	-140	-134	-72.8	-86.1	-187	-115	-103	-108	-111	-95.2	-99.9	-92.7	-128	-112	-120	-124
Net margin	-84%	-128%	-210%	-138%	-110%	-104%	-53%	-60%	-121%	-68%	-58%	-56%	-55%	-47%	-43%	-35%	-46%	-37%	-36%	-34%
Diluted EPS	-$0.89	-$1.21	-$2.25	-$1.58	-$1.36	-$1.30	-$0.67	-$0.73	-$1.58	-$0.94	-$0.84	-$0.88	-$0.90	-$0.77	-$0.80	-$0.74	-$1.00	-$0.85	-$0.90	-$0.93
Operating cash flow	-77.0	-28.6	-112	-78.2	-90.7	-74.4	-94.0	-77.8	-78.7	-30.3	-94.0	-51.1	-64.5	-62.7	-60.3	-35.4	-26.4	-65.6	-57.8	-23.7
Capital expenditure	24.6	22.7	23.0	21.7	10.0	7.5	6.5	2.4	4.1	6.9	5.1	4.2	18.9	4.5	5.6	10.3	27.8	5.6	11.8	13.5
Free cash flow	-102	-51.3	-135	-99.9	-101	-82.0	-101	-80.2	-82.8	-37.2	-99.1	-55.3	-83.4	-67.1	-65.9	-45.8	-54.2	-71.2	-69.5	-37.2
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	0.0	45.0	0.0	0.0	0.0	0.0	0.0	0.0
Shares outstanding	102m	102m	102m	102m	103m	103m	118m	118m	122m	122m	123m	123m	124m	124m	124m	125m	131m	132m	134m	135m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.