On Thursday, Guardant Health (NYSE:GH) reported fourth-quarter adjusted EPS loss of 62 cents, compared to a loss of 64 cents a year ago, beating the consensus loss of 74 cents.
The cancer diagnostic company reported sales of $201.8 million, up 30% year over year, beating the consensus of $192.14 million, driven by an increase in the volume of clinical tests and biopharma tests, which grew 24% and 16%, respectively.
The company reported approximately 57,300 oncology clinical tests (excluding Shield) and 11,050 biopharma tests.
The increase in precision oncology revenue was also attributable to an increase in reimbursement for tests due to an increase in Medicare reimbursement for the Guardant360 LDT test to $5,000 and an increase in both Medicare Advantage and commercial payer reimbursement.
Also Read: Guardant Health Gains Medicare Coverage For Colorectal Cancer Monitoring Test
Guidance: Guardant Health forecasts fiscal year 2025 revenue of $850 million—$860 million, versus a consensus of $848.9 million.
Analyst Reaction:
Price Action: GH stock is down 10.60% at $42.40 at last check Friday.
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