Earnings review- Guardant health(GH) Q2 2026
Muffett Investments
Earnings Watch · Stock Analysis Division
Earnings Review
1 August 2026
◆ Healthcare · Diagnostics & Research
Guardant Health, Inc.
Report Period
Q2 FY2026
Reported: 2026-07-30
Headline
Beat Expectations
✓ Beat Expectations
Key Metrics at a Glance
Revenue Growth
+44.3%
YoY
Operating Margin
-38.5%
+731bps YoY
Free Cash Flow
-$69.5M
-5.5% YoY
Net Position
Net Debt
-$643.5M
EPS (Diluted)
$-3.51
N/A
Financial Metrics — Detailed Breakdown
| Metric | Q2 FY2026 | Q2 FY2025 | YoY Change | Consensus Est. | vs. Estimate |
|---|---|---|---|---|---|
| Total Revenue | $335.0M | $232.1M | +44.3% | — | N/A |
| Gross Profit | $219.0M | $150.9M | +45.2% | — | N/A |
| Gross Margin | 65.4% | 65.0% | +37bps | — | N/A |
| Operating Income | -$129.1M | -$106.4M | -21.3% | — | N/A |
| Operating Margin | -38.5% | -45.9% | +731bps | — | N/A |
| Net Income | -$120.1M | -$99.9M | -20.3% | — | N/A |
| Net Margin | -35.9% | -43.0% | +718bps | — | N/A |
| Operating Cash Flow | -$57.8M | -$60.3M | +4.2% | — | N/A |
| Free Cash Flow | -$69.5M | -$65.9M | -5.5% | — | N/A |
| FCF Margin | -20.8% | -28.4% | +765bps | — | N/A |
| Total Debt | $1.7B | $1.3B | +27.2% | — | N/A |
| Cash & Equivalents | $1.1B | $629.1M | +67.4% | — | N/A |
| Net Cash / (Debt) | -$643.5M | -$705.0M | +8.7% | — | N/A |
| EPS (Diluted) | $-3.51 | $N/A | N/A | $— | N/A |
⚠ Management Commentary — Signals
- No significant red flags detected in EDGAR filing.
📈 Price Reaction
Pre-Earnings Close
$144.07
2026-07-30
Post-Earnings Price
$152.35
Next trading session
1-Day Move
+5.75%
vs. market
52-Week Range
$41.19 – $176.58
Price data sourced from Yahoo Finance. Reaction shown vs. prior trading session close.
Our Verdict
Constructive
Guardant reported a beat expectations quarter, with revenue grew +44.3% YoY to $335.0M. operating margins expanded by 731bps to -38.5%. Free cash flow came in at -$69.5M. The balance sheet remains under watch given the debt load.
- Revenue grew strongly at +44.3% YoY — well above average.
- Operating margin expanded strongly by 731bps — profitability improving.
- Total debt exceeds annual revenue — leverage warrants careful monitoring.
- Market responded decisively — stock rose +5.8% on earnings day, validating the beat.
