Guardant Health (GH) Leerink Global Healthcare Conference 2026 summary

Strategic partnerships and market expansion

• Announced partnership with Quest Diagnostics to broaden Shield test access, leveraging Quest's EMR system and co-promotion through its PCP channel, expected to increase test ordering and physician education.

• Co-promotion impact is anticipated in the second half of the year, but current 2026 guidance does not include Quest's contribution.

• Expansion into health systems and international markets is underway, with volume contributions from these channels considered upside to current guidance.

• Recent guideline updates for colorectal cancer (CRC) now recommend comprehensive profiling in earlier stages, potentially increasing the addressable patient population by 50%-75%.

Product innovation and clinical adoption

• Guardant360 continues to see strong growth, driven by increased clinical adoption and repeat testing, with average tests per patient rising from 1.2 to 1.3.

• Anticipated FDA approval for Guardant360 in the second half of the year is expected to simplify the portfolio and boost business performance.

• Reveal and Guardant360 are designed to work together, enabling therapy selection and monitoring throughout the cancer care continuum.

• Ongoing R&D investments focus on AI algorithm improvements and integration of new biomarkers, supported by the recent MetaSight acquisition.

Financial outlook and operational strategy

• Shield revenue guidance for 2026 is $160M-$174M, reflecting 130% year-over-year growth, with upside potential from Quest, ACS guideline adoption, and DTC campaigns.

• ASP for Shield is guided at $775 for 2026, with deliberate short-term decreases as commercial volume grows, but expected to rise as payer coverage improves.

• Gross margin improvements are driven by higher ASPs, cost reductions, and operational efficiencies, with a goal to achieve cash flow breakeven by the end of 2027 or sooner.

• OpEx is growing 14%-15% in 2026, mainly directed toward sales, marketing, and DTC campaigns, while R&D and G&A remain flat.