Guardant Health sees FY23 revenue $562M-$563M, consensus $555.18M

Reported 172,900 tests to clinical customers and 29,900 tests to biopharma customers, an increase of 39% and 15%, respectively. Preliminary unaudited free cash flow was approximately negative $347M for the FY23. Cash, cash equivalents and marketable debt securities were $1.2B as of December 31, 2023. “We finished the year strong with revenue growth of 25% in 2023, driven by robust clinical volume growth. We benefitted from tailwinds throughout the year driving us to breakeven in our therapy selection business, which we believe sets us up for another successful year of robust growth in 2024,” said Helmy Eltoukhy, co-founder and co-CEO. “We made steady progress in our screening business this year with our Shield blood test. We are encouraged by the overwhelming physician and patient enthusiasm for the option to do a simple blood draw to screen for colorectal cancer,” said AmirAli Talasaz, co-founder and co-CEO. “We look forward to the launch of Shield IVD this year, following FDA approval, which will be transformative to the cancer screening landscape.”