Guardant Health (GH) 46th Annual William Blair Growth Stock Conference summary

Strategic vision, mission, and innovation

• Mission centers on extending disease-free life through blood-based cancer testing, leveraging data and innovation across the patient journey from screening to monitoring and therapy selection.

• Product portfolio includes Guardant360 (liquid and tissue), Reveal, and Shield, powered by a proprietary platform, InfinityAI engine, and Smart Platform integrating genomics and epigenomics.

• Innovation has driven revenue growth from $334M in 2021 to a projected $1.31B in 2026, with multiple growth engines and annual growth rates exceeding 30%.

• Recent FDA approval of Guardant360 Liquid CDx, the largest FDA-approved liquid biopsy panel, enhances clinical and commercial positioning and streamlines therapy selection.

• Reveal Ultra, launching soon, will expand MRD offerings with best-in-class sensitivity and rapid results, complementing tissue-free MRD solutions.

Business performance, market opportunities, and growth

• Q1 2026 revenue reached $302M, up 48% year-over-year, marking the fastest growth in five years and surpassing $1B in trailing 12-month revenue.

• Oncology and screening markets together represent significant growth potential, with a $10B late-stage, $20B early-stage, $50B CRC screening, and $300B therapy selection addressable market.

• Oncology revenue and test volume grew 36% and 47% year-over-year, respectively, in Q1 2026, driven by product upgrades, reimbursement wins, and new use cases.

• Pharma and data business generated $210M in 2025, with 26 companion diagnostic approvals, partnerships with 19 of the top 20 pharma companies, and over 200 total partnerships.

• Shield targets a $50B CRC screening market, with rapid adoption, $82M revenue in 2025, and $192M projected for 2026.

Commercial execution and Shield adoption

• Shield is the only FDA-approved, Medicare-reimbursed, guideline-recommended CRC screening blood test, included in NCCN and American Cancer Society guidelines.

• Direct-to-consumer campaigns, collaborations with Quest and PathGroup, and partnerships expand Shield’s reach to over 8,000 access points and 650,000 providers.

• Multi-cancer detection is being piloted, with Shield now reporting on 9 additional cancer types and building a large clinical outcomes database.

• Shield demonstrated 75% sensitivity, 99% specificity, and 92% site-of-origin accuracy across multiple tumor types.

• Guideline inclusions and NCI study participation are paving the way for broader adoption and multi-cancer detection capabilities.