Guardant Health, Inc. (GH): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da oncologia de precisão, a Guardant Health, Inc. (GH) surge como uma força pioneira, revolucionando a detecção e o tratamento do câncer por meio de tecnologias genômicas inovadoras. Ao alavancar técnicas avançadas de biópsia líquida e análise de dados sofisticada, esta empresa inovadora transforma como os profissionais de saúde abordam a triagem de câncer, oferecendo soluções de diagnóstico não invasivas e personalizadas que prometem remodelar os resultados dos pacientes e estratégias de pesquisa clínica. Seu modelo de negócios exclusivo representa uma interseção atraente de ciência de ponta, inovação tecnológica e prestação de serviços de saúde centrada no paciente.

Guardant Health, Inc. (GH) - Modelo de Negócios: Principais Parcerias

Oncologistas e centros de pesquisa de câncer

A Guardant Health colabora com mais de 2.500 oncologistas e centros de pesquisa de câncer em 2023. As principais parcerias incluem:

Instituição	Detalhes da parceria	Ano estabelecido
MD Anderson Cancer Center	Colaboração de pesquisa clínica	2018
Memorial Sloan Kettering	Pesquisa de oncologia de precisão	2019
Instituto de Câncer Dana-Farber	Desenvolvimento de biópsia líquida	2017

Empresas farmacêuticas para ensaios clínicos

A Guardant Health possui parcerias ativas com 15 principais empresas farmacêuticas para ensaios clínicos em 2024:

• Merck & Co.
• AstraZeneca
• Pfizer
• Bristol Myers Squibb
• Roche

Provedores de tecnologia de saúde e equipamentos de diagnóstico

Parceiro de tecnologia	Foco de colaboração	Valor do contrato
Ilumina	Tecnologia de sequenciamento de próxima geração	US $ 12,3 milhões (2023)
Thermo Fisher Scientific	Equipamento de diagnóstico molecular	US $ 8,7 milhões (2023)

Companhias de seguros e redes de saúde

A Saúde Guarda tem acordos de cobertura com:

• UnitedHealthcare
• Cruz azul do hino
• Aetna
• Cigna

Cobertura total da rede de seguros: 180 milhões de vidas a partir de 2023

Instituições médicas acadêmicas

Instituição	Colaboração de pesquisa	Orçamento de pesquisa anual
Universidade de Stanford	Pesquisa de Oncologia Genômica	US $ 2,5 milhões
Universidade Johns Hopkins	Desenvolvimento de biópsia líquida	US $ 3,1 milhões
Universidade da Califórnia, São Francisco	Estudos de Medicina de Precisão	US $ 2,8 milhões

Guardant Health, Inc. (GH) - Modelo de Negócios: Atividades -chave

Triagem e teste avançados de câncer genômico

Em 2023, a Saúde Guarda processa aproximadamente 180.000 testes genômicos, com foco na triagem avançada de câncer. A empresa Guardant360 CDX O teste é aprovado pela FDA para vários tipos de câncer e abrange mais de 70 biomarcadores genômicos.

Tipo de teste	Volume (2023)	Preço médio
Guardant360 CDX	95.000 testes	US $ 4.200 por teste
Teste de câncer colorretal lunar	35.000 testes	US $ 3.800 por teste

Desenvolvimento de tecnologias de biópsia líquida

A Guardant Health investiu US $ 249,7 milhões em P&D durante 2023, direcionando especificamente as melhorias na tecnologia de biópsia líquida.

• Sensibilidade à detecção de biópsia líquida atual: 99,3%
• Cobertura genômica: mais de 70 genes relacionados ao câncer
• Tempo de resposta: 7-10 dias úteis

Pesquisa e inovação em oncologia de precisão

A empresa mantém 287 parcerias de pesquisa ativa com centros de oncologia e instituições acadêmicas a partir de 2023.

Área de foco de pesquisa	Número de projetos ativos
Detecção precoce de câncer	124 projetos
Monitoramento da resposta da terapia	93 projetos
Rastreamento mínimo de doenças residuais	70 projetos

Análise de dados e interpretação de perfis genéticos

Processa de saúde guardente mais de 500 terabytes de dados genômicos mensalmente usando algoritmos avançados de aprendizado de máquina.

Suporte ao ensaio clínico e desenvolvimento de produtos de diagnóstico

Em 2023, a empresa apoiou 237 ensaios clínicos ativos em vários domínios de oncologia com um orçamento total de pesquisa de US $ 312 milhões.

• Produtos de diagnóstico em desenvolvimento: 6 novos testes moleculares
• Ciclo médio de desenvolvimento: 24-36 meses
• Taxa de sucesso da tradução do produto diagnóstico: 62%

Guardant Health, Inc. (GH) - Modelo de negócios: Recursos -chave

Tecnologia de sequenciamento genômico proprietário

Tecnologia de sequenciamento genômico da Guardant Health a partir de 2024:

Métrica de tecnologia	Valor específico
Plataformas de teste genômicas	Guardant360 CDX, Guardrantomni
Profundidade de sequenciamento	74 genes
Aprovações da FDA	Diagnóstico complementar do tipo de câncer múltiplo

Extenso banco de dados de testes genéticos

Composição do banco de dados:

• Mais de 300.000 amostras de biópsia líquida analisadas
• Dados abrangentes de perfil molecular
• Informações genômicas do câncer abrangendo vários tipos de tumores

Pesquisa qualificada e profissionais médicos

Categoria profissional	Quantidade
Total de funcionários	1.246 (a partir do quarto trimestre 2023)
Pesquisadores de doutorado	187
Especialistas clínicos	92

Recursos computacionais e de IA avançados

Detalhes da infraestrutura tecnológica:

• Algoritmos de aprendizado de máquina para interpretação genômica
• Plataformas de processamento de dados baseadas em nuvem
• Sistemas de análise genômica em tempo real

Propriedade intelectual e patentes

Categoria de patentes	Quantidade
Portfólio total de patentes	87 Patentes concedidas
Aplicações de patentes pendentes	42
Domínios de patentes de tecnologia	Biópsia líquida, sequenciamento genômico

Guardant Health, Inc. (GH) - Modelo de Negócios: Proposições de Valor

Detecção e monitoramento de câncer não invasivos

A Guardant Health oferece teste de biópsia líquida Guardant360 com precisão genômica de 99,8% para detecção avançada de câncer. O teste analisa o DNA do tumor circulante a partir de uma coleta de sangue simples, cobrindo 74 genes e mais de 350 mutações clinicamente relevantes.

Métrica de teste	Dados de desempenho
Precisão genômica	99.8%
Genes analisados	74
Cobertura de mutação	350+

Soluções personalizadas de triagem de câncer

O Programa de Triagem Lunar da Guarda Health fornece detecção personalizada de câncer precoce para vários tipos de câncer.

• O programa Lunar-1 tem como alvo a detecção de câncer em estágio inicial
• Cobre vários tipos de câncer com alta sensibilidade
• Triagem sanguínea com invasão mínima de pacientes

Diagnóstico de precisão para estratégias de tratamento direcionadas

O Guardant360 CDX é aprovado pela FDA para 5 tipos diferentes de câncer, permitindo a seleção de tratamento de oncologia de precisão.

Tipo de câncer	Status de aprovação da FDA
Câncer de pulmão de células não pequenas	Aprovado
Câncer de mama	Aprovado
Câncer colorretal	Aprovado
Câncer de ovário	Aprovado
Câncer de próstata	Aprovado

Perfil genômico abrangente

O perfil genômico abrangente da Guardant Health cobre extensas variações genéticas com alta precisão.

• Detecta variantes de nucleotídeo único
• Identifica alterações do número de cópias
• Analisa rearranjos genômicos

Melhores resultados dos pacientes através de testes avançados

As soluções de teste da Guarda de Saúde demonstram utilidade clínica significativa com potencial para melhorar as taxas de sobrevivência dos pacientes.

Métrica clínica	Dados de desempenho
Sensibilidade ao teste	95.6%
Especificidade	99.3%
Hora de resultados	7-10 dias

Guardant Health, Inc. (GH) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento profissional médico direto

A Saúde Guarda mantém o envolvimento direto com oncologistas, patologistas e pesquisadores clínicos por meio de:

• Equipe de vendas dedicada de 204 especialistas em oncologia a partir do terceiro trimestre de 2023
• Participação anual da conferência médica: 15-20 principais conferências de oncologia
• Programas de educação médica direta que abrangem tecnologias de testes genômicos

Métrica de engajamento	2023 dados
Sessões de treinamento médico	237 workshops especializados
Interações profissionais médicas diretas	4.672 práticas individuais de oncologia

Suporte tecnológico contínuo

A infraestrutura de suporte técnico inclui:

• Equipe de suporte ao cliente 24/7 com 87 especialistas técnicos dedicados
• Tempo médio de resposta: 17 minutos para consultas técnicas críticas
• Portal online com rastreamento de resultado de teste em tempo real

Orientação personalizada de atendimento ao paciente

A abordagem centrada no paciente envolve:

• Serviços de aconselhamento genético para 62% dos casos de teste complexos
• Consultas de interpretação de resultados personalizados
• Programa de apoio ao paciente, cobrindo 73% dos clientes de testes genômicos

Métrica de apoio ao paciente	2023 desempenho
Sessões de aconselhamento para pacientes	3.845 consultas individuais
Inscrição do programa de apoio ao paciente	Taxa de satisfação de 86%

Interações da plataforma de saúde digital

Os canais de engajamento digital incluem:

• Aplicativo móvel com 142.000 usuários registrados
• Portal de paciente online seguro
• Opções de consulta de telemedicina

Atualizações científicas e clínicas regulares

A estratégia de comunicação científica abrange:

• Publicações trimestrais de pesquisa clínica: 12-15 artigos revisados ​​por pares
• Série de webinar mensais para profissionais médicos
• Simpósio anual de pesquisa de testes genômicos abrangentes

Métrica de comunicação científica	2023 dados
Publicações revisadas por pares	14 artigos científicos
Participação no webinar profissional médico	3.276 participantes

Guardant Health, Inc. (GH) - Modelo de Negócios: Canais

Equipe direta de vendas para práticas de oncologia

A partir do quarto trimestre de 2023, a Guardant Health manteve uma equipe de vendas dedicada a oncologia de 157 representantes de vendas diretas. A equipe tem como alvo 2.500 práticas de oncologia nos Estados Unidos.

Métrica da equipe de vendas	2023 dados
Total de representantes de vendas diretas	157
Práticas de oncologia alvo	2,500
Ciclo médio de vendas	45-60 dias

Plataforma de pedidos de diagnóstico online

A plataforma digital da Guardant Health processou 95.000 ordens de teste de diagnóstico em 2023, representando um aumento de 42% ano a ano.

• Integração da plataforma com 87% dos sistemas de registros eletrônicos de saúde (EHR)
• Resultado de teste em tempo real Capacidade de relatório
• Acesso seguro compatível com HIPAA

Conferências médicas e redes profissionais

Em 2023, a Guardant Health participou de 43 conferências de oncologia, apresentando 67 resumos científicos.

Engajamento da conferência	2023 Estatísticas
As conferências totais compareceram	43
Resumos científicos apresentados	67
Conexões de rede profissional	12,500

Consultas de telemedicina

A Guarda de Saúde Guarda expandiu os Serviços de Consulta de Telemedicina, realizando 22.000 consultas virtuais em 2023.

• Duração média da consulta: 35 minutos
• 95% da taxa de satisfação do paciente
• Cobertura em 48 estados

Marketing Digital e Publicações Científicas

A empresa investiu US $ 7,2 milhões em marketing digital e publicou 52 artigos científicos revisados ​​por pares em 2023.

Métrica de marketing digital	2023 dados
Investimento de marketing digital	$7,200,000
Publicações revisadas por pares	52
Taxa de engajamento online	3.7%

Guardant Health, Inc. (GH) - Modelo de negócios: segmentos de clientes

Oncologistas e especialistas em câncer

A partir do quarto trimestre de 2023, a Saúde Guarda atende a aproximadamente 15.000 profissionais de oncologia nos Estados Unidos. As soluções de teste genômicas da empresa têm como alvo esses especialistas com tecnologias avançadas de oncologia de precisão.

Características do segmento	Dados quantitativos
Oncologistas totais alcançados	15,000
Volume de teste anual	250.000 testes genômicos de câncer
Penetração de mercado	62% das principais práticas de oncologia

Pacientes com risco de câncer ou diagnóstico

A base de clientes da Guardant Health inclui pacientes com câncer e indivíduos com predisposições genéticas.

• Pacientes totais testados em 2023: 375.000
• Testes de triagem de câncer realizados: 180.000
• Pacientes com câncer metastático atendidos: 125.000

Provedores de saúde e hospitais

A empresa colabora com instituições de saúde em todo o país.

Tipo de provedor	Número de instituições
Hospitais utilizando serviços	1,200
Centros de Câncer Comunitário	650
Centros Médicos Acadêmicos	85

Organizações de pesquisa farmacêutica

A Saúde Guarda apoia a pesquisa farmacêutica por meio de perfis genômicos abrangentes.

• Parceiros farmacêuticos: 45
• Ensaios clínicos apoiados: 280
• Colaborações de pesquisa: 22 parcerias ativas

Redes de ensaios clínicos

A empresa fornece testes genômicos e perfil molecular para pesquisa clínica.

Métricas de ensaio clínico	2023 dados
Total de ensaios clínicos	350
Pacientes inscritos	42,000
Perfis genômicos gerados	68,500

Guardant Health, Inc. (GH) - Modelo de negócios: estrutura de custos

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Guardant Health investiu US $ 326,3 milhões em despesas de pesquisa e desenvolvimento, representando 64,6% da receita total.

Ano	Investimento em P&D	Porcentagem de receita
2022	US $ 326,3 milhões	64.6%
2021	US $ 277,4 milhões	62.8%

Infraestrutura de tecnologia avançada

Os custos de infraestrutura tecnológica da Guarda de Saúde incluem:

• Despesas de computação em nuvem: aproximadamente US $ 18,5 milhões anualmente
• Equipamento de sequenciamento: US $ 12 a 15 milhões por ano
• Sistemas de armazenamento e gerenciamento de dados: US $ 7,3 milhões anualmente

Testes clínicos e despesas de validação

Os custos de teste clínico para 2022 totalizaram US $ 92,4 milhões, que incluem:

• Testes de perfil genômico
• Suporte ao ensaio clínico
• Estudos de validação

Operações de vendas e marketing

As despesas de vendas e marketing de 2022 foram de US $ 202,1 milhões, representando 40% da receita total.

Categoria de despesa	Quantia
Pessoal de vendas	US $ 98,6 milhões
Campanhas de marketing	US $ 63,5 milhões
Patrocínios de conferência e evento	US $ 40 milhões

Aquisição e retenção de talentos

Despesas de capital humano para 2022 incluídas:

• Compensação total dos funcionários: US $ 275,6 milhões
• Salário médio de funcionários: US $ 145.000
• Benefícios dos funcionários: 22% da compensação total

Despesas operacionais totais para 2022: US $ 783,4 milhões

Guardant Health, Inc. (GH) - Modelo de negócios: fluxos de receita

Serviços de teste de diagnóstico

A Saúde da Guarda gerou US $ 518,4 milhões em receita total para o ano fiscal de 2022, com serviços de teste de diagnóstico representando uma parcela significativa dessa receita.

Tipo de teste de diagnóstico	Faixa de preço médio	Volume anual (estimado)
Guardant360 CDX	$3,800 - $4,200	75.000 - 85.000 testes
Biópsia líquida lunar	$2,500 - $3,000	40.000 - 50.000 testes

Taxas de perfil genômico

Os serviços de perfil genômico contribuíram com aproximadamente US $ 125-150 milhões para a receita anual da Guardant Health em 2022.

• Perfil de oncologia de precisão
• Avaliação da paisagem genômica abrangente
• Análise de mutação direcionada

Contratos de apoio ao ensaio clínico

O apoio aos ensaios clínicos gerou aproximadamente US $ 85-100 milhões em receita para a Saúde Guardente em 2022.

Tipo de contrato	Valor médio do contrato	Número de contratos ativos
Ensaios clínicos farmacêuticos	$500,000 - $2,000,000	50-75 contratos ativos
Ensaios de pesquisa acadêmica	$100,000 - $500,000	25-40 contratos ativos

Colaborações de parceria farmacêutica

As parcerias farmacêuticas geraram aproximadamente US $ 75-90 milhões em receita colaborativa durante 2022.

• Colaboração com Merck & Co.
• Parceria com a AstraZeneca
• Acordos de pesquisa com a Roche

Reembolsos de seguro de saúde

Os reembolsos de seguro de saúde representaram aproximadamente US $ 100 a 125 milhões na receita de 2022 da Guardant Health.

Categoria de seguro	Taxa de reembolso	Volume anual de reembolso
Medicare	70-80%	35.000-45.000 reivindicações
Seguro privado	60-75%	50.000-60.000 reivindicações

Guardant Health, Inc. (GH) - Canvas Business Model: Value Propositions

You're looking at the core reasons why oncologists, patients, and biopharma partners choose Guardant Health, Inc. over alternatives as of late 2025. It boils down to timing, convenience, and comprehensive data across the entire cancer journey.

Non-invasive, convenient blood test for early cancer screening (Shield)

The value here is moving cancer detection from invasive procedures to a simple blood draw. For colorectal cancer (CRC) screening in average-risk adults aged 45 and older, Shield is the first and only blood test to receive full FDA approval as a primary screening option. The adherence rate in a study of the first 20,000 patients reached 95%, significantly surpassing the 25-71% reported adherence for traditional stool-based tests. In specific low-screening areas like Appalachia, adding Shield increased overall CRC screening rates from 45% to 90%, with Shield itself showing an adherence rate of 98.5% in that setting. The latest algorithm, Shield V2, demonstrated a sensitivity of 84% for CRC detection with 90% specificity, including 62% sensitivity for stage I disease. When it received ADLT status from CMS in Q1 2025, the Medicare pricing was set at $1,495. The Screening segment generated $24.1 million in revenue in the third quarter of 2025, primarily from approximately 24,000 Shield tests.

Comprehensive genomic profiling for advanced cancer treatment selection (Guardant360)

For patients with advanced cancer, the value proposition is getting the most comprehensive actionable information quickly to select the right therapy. Guardant Health, Inc. is pushing the utility of its liquid biopsy tests, with Guardant360 Liquid volume showing accelerated year-over-year growth for the fourth consecutive quarter as of Q2 2025. In Q2 2025, the company's Oncology segment, driven by Guardant360 and Reveal, processed approximately 64,000 tests, a 30% increase in volume year-over-year, contributing $158.7 million in revenue. The average selling price (ASP) for the Guardant360 Tissue test improved to approximately $2,000 in Q2 2025, hitting a 2028 target three years early. For Guardant360 Liquid, the ASP in Q1 2025 was reported in the range of $3,000 to $3,100. The clinical utility is enhanced by the introduction of 11 new Smart Liquid Biopsy applications in Q2 2025.

Minimal Residual Disease (MRD) monitoring for recurrence in early-stage cancer (Reveal)

Reveal offers the ability to detect recurrence earlier than imaging, providing clarity for adjuvant therapy decisions. This tissue-free test tracks changes in circulating tumor DNA (ctDNA) using epigenomic signals. In one study, Guardant Reveal was shown to predict long-term patient benefit up to 18 months earlier than standard clinical measures. For Medicare reimbursement in CRC, Guardant Reveal is covered to guide adjuvant therapy decisions and for longitudinal recurrence surveillance every 3 to 6 months. The company announced that Reveal became gross margin positive in the first quarter of 2025. The expanded offering for late-stage therapy response monitoring can provide actionable insights in just seven days.

Accelerating biopharma drug development via real-world data and AI-driven insights

The value for biopharma partners is access to a growing, high-quality dataset that informs drug development and commercial strategy. The Biopharma & Data segment generated $56.0 million in revenue in Q2 2025, marking a 28% increase year-over-year, and then $54.7 million in Q3 2025, an 18% increase year-over-year. The full-year 2025 revenue guidance for Biopharma and Data was raised to the mid-teens percentage growth in Q2. The company ended Q3 2025 with $689.5 million in cash, cash equivalents, and restricted cash.

Here's a quick look at the segment performance driving this value:

• Total 2025 Revenue Guidance (as of Q3): $965 to $970 million
• Q3 2025 Oncology Test Volume Growth YoY: 40%
• Q2 2025 Non-GAAP Gross Margin: 66%
• Expected Full Year 2025 Free Cash Flow Burn: $225 to $235 million

Guardant Health, Inc. (GH) - Canvas Business Model: Customer Relationships

You're looking at how Guardant Health, Inc. (GH) manages its relationships with the key groups it serves. It's a multi-pronged approach, balancing deep clinical support with broad data partnerships.

Dedicated, high-touch sales and clinical support for oncologists and health systems.

Guardant Health, Inc. (GH) is scaling its commercial team to support this high-touch model. The company plans for a steady-state sales force of approximately 700 reps. For 2025, an accelerated deployment target was set for around 200 fully trained reps by the end of the year. This field presence is supported by clinical oncology specialists providing molecular information support. Investment in this area is reflected in the operating expenses; Non-GAAP operating expenses for the third quarter of 2025 reached $228.9 million, up from $187.3 million in the third quarter of 2024, due in part to commercial team expansion. Full-year 2025 non-GAAP operating expense guidance is set in the range of $865 to $875 million. The core Oncology business generated $184.4 million in revenue in Q3 2025, driven by approximately 74,000 oncology tests for the quarter. This segment is expected to see approximately 25% growth in volume for the full year 2025. It's clear they are putting significant resources behind direct engagement with clinicians.

Strategic, long-term collaboration model with biopharma partners for data and co-development.

The Biopharma & Data segment is a key relationship area, focusing on providing real-world clinicogenomic data to accelerate drug development. This segment's revenue growth has been strong:

Metric	Q1 2025 Revenue ($M)	Q2 2025 Revenue ($M)	Q3 2025 Revenue ($M)
Biopharma & Data Revenue	45.4	56.0	54.73
Year-over-Year Growth	21%	28%	18%

Guardant Health, Inc. (GH) has established significant collaborations, including a multi-year global collaboration with Pfizer for the Infinity platform and a partnership with COTA to combine clinicogenomic data with real-world EHR data. Furthermore, a strategic partnership with Boehringer Ingelheim is in place for Zongertinib companion diagnostics.

Educational and awareness campaigns targeting primary care physicians and consumers.

Awareness and adoption campaigns are heavily focused on the Shield screening platform. Shield screening revenue saw massive growth, moving from $1.00 million in Q3 2024 to $24.11 million in Q3 2025, representing a year-over-year growth of over 1000%. Shield test volume reached approximately 16,000 tests in Q2 2025 and is projected to generate between $71 and $73 million in revenue for the full year 2025. To expand access and awareness, Guardant Health, Inc. (GH) established a partnership with the American Cancer Society to advance health equity. The company also expanded Shield to include multi-cancer detection (MCD).

Seamless integration of ordering and results into Electronic Medical Records (EMR).

Guardant Health, Inc. (GH) focuses on digital solutions to optimize clinical workflows. The company states it collaborates closely with several major EMR platforms. This collaboration is designed to provide tangible benefits to providers by enabling convenient access to test ordering and results directly within the patient chart. The goal is to simplify and standardize test ordering with EMR-integrated tools designed for speed and consistency. The company receives all customer requests for potential integrations and will create customized solutions for other EMR systems.

• Integrate Guardant Health, Inc. (GH) data directly into the patient chart.
• Support timely, guideline-based testing through automated workflows built into the EMR.
• Simplify and standardize test ordering with EMR-integrated tools.

Finance: review Q3 2025 commercial spend vs. sales force deployment targets by end of next week.

Guardant Health, Inc. (GH) - Canvas Business Model: Channels

Direct sales force targeting oncologists, hospitals, and health systems deployment plan for late 2025 included reaching approximately 200 fully trained reps by the end of 2025, with a steady-state target of approximately 700 reps.

Third-party laboratory and distribution partners are utilized for broader access, evidenced by strategic collaborations established with Quest Diagnostics and PathGroup to further accelerate nationwide access to Shield.

Direct-to-biopharma/pharmaceutical companies for data and development services generated the following revenue figures in 2025:

• Q3 2025 Biopharma & Data revenue: $54.7 million.
• Q3 2025 Biopharma & Data year-over-year growth: 18%.
• Q2 2025 Biopharma & Data revenue: $56.0 million.
• Q2 2025 Biopharma & Data year-over-year growth: 28%.
• Q1 2025 Biopharma & Data revenue: $45.4 million.
• Q1 2025 Biopharma & Data year-over-year growth: 21%.
• Full year 2025 expected Biopharma & Data revenue growth: mid-teens range.

Centralized CLIA-certified and CAP-accredited testing laboratories processed the following volumes in 2025:

Metric	Q3 2025	Q2 2025	Q1 2025
Oncology Tests Performed	Approximately 74,000	Approximately 64,000	Approximately 59,000
Oncology Test Volume Y/Y Growth	40%	30%	25%
Shield Tests Performed	Approximately 24,000	Approximately 16,000	Not specified (Revenue: $5.7 million)

The potential annual sample processing capacity, based on Shield adoption assumptions, is estimated at more than 16 million samples annually.

Revenue generated through the Screening channel (Shield) in 2025 included:

• Q3 2025 Screening revenue: $24.1 million.
• Q2 2025 Screening revenue: $14.8 million.
• Full year 2025 expected Screening revenue range: $71 million to $73 million.

Guardant Health, Inc. (GH) - Canvas Business Model: Customer Segments

You're looking at the core groups driving Guardant Health, Inc.'s growth as of late 2025, based on their latest reported financials. The business model clearly targets distinct needs across the cancer care continuum, from diagnosis to treatment selection and early detection.

Oncologists and hospitals treating patients with advanced-stage cancer.

This group drives the core Oncology segment, relying on tests like Guardant360 Liquid, Guardant360 Tissue, and Reveal for therapy selection and recurrence monitoring. The momentum here is strong; in the third quarter of 2025, this segment generated $184.4 million in revenue, which is a 31% year-over-year increase. Test volume was approximately 74,000 tests, marking a 40% year-over-year jump. Management is guiding for the full-year 2025 Oncology revenue to grow by roughly 25%. The Reveal test, specifically, is noted as the fastest-growing oncology product.

Here's a look at the recent performance metrics for the Oncology customer base:

Metric (Q3 2025)	Value	Year-over-Year Change
Oncology Revenue	$184.4 million	31% increase
Oncology Test Volume	Approx. 74,000 tests	40% increase
Guardant360 Liquid Volume Growth	N/A	Fifth consecutive quarter of accelerating growth (more than 30% YoY)

Biopharmaceutical companies seeking genomic data and companion diagnostic development.

This segment, reported as Biopharma & Data, is crucial for driving research and development partnerships. In the third quarter of 2025, this revenue stream brought in $54.7 million, an 18% year-over-year increase. This growth included milestone revenue from two companion diagnostic (CDx) approvals. A key example of this customer relationship is the multi-year global collaboration announced in April 2025 with Pfizer, Inc. (NYSE: PFE), utilizing the Guardant Infinity smart liquid biopsy platform. Full-year 2025 guidance suggests this revenue will continue to grow in the mid-teens range.

Primary care and OBGYN physicians for colorectal cancer screening.

Physicians ordering the Shield test for routine colorectal cancer screening form the Screening segment. This segment is seeing explosive growth. In Q3 2025, Shield revenue reached $24.1 million from approximately 24,000 tests. This puts the annualized run rate for Screening revenue at roughly $100 million, only about one year into the commercial launch of the FDA-approved Shield test. The Average Selling Price (ASP) for Shield in Q3 2025 was approximately $880. Furthermore, due to Accelerated Approval Pathway (ADLT) status, the Medicare price for Shield increased from $920 to $1,495 effective April 1, 2025.

The full-year 2025 revenue guidance for Screening was significantly raised to the range of $71 million to $73 million, expecting volumes between 80,000 to 82,000 tests.

Patients eligible for routine cancer screening who prefer a non-invasive option.

These are the end-users for the Shield test, representing a massive addressable market. The sequential adoption shows clear traction among this group, with volumes growing from 9,000 tests in Q1 2025 to 16,000 tests in Q2 2025. The Shield test is being made more accessible through strategic alliances with major labs like Quest Diagnostics and PathGroup. Additionally, access was expanded to individuals age 45 and older through the VA Community Care Network, covering over 9 million beneficiaries.

The Shield Multi-Cancer Detection (MCD) capabilities, which showed 60% overall sensitivity and 89% accuracy for cancer site of origin in validation data, broadens the appeal beyond just colorectal cancer screening.

You should track the Shield adoption numbers closely; they are a key driver for the raised full-year 2025 total revenue guidance to $965 million to $970 million.

Guardant Health, Inc. (GH) - Canvas Business Model: Cost Structure

You're looking at the spending profile for Guardant Health, Inc. (GH) as they push for scale, especially with the Shield test. The cost structure is heavily weighted toward getting the commercial engine running and continuing to build out the pipeline. Honestly, it's a classic growth-stage investment pattern where operating expenses are high relative to current revenue, but the goal is to drive future volume and margin expansion.

The company has been consistently raising its full-year spending outlook to fund this growth. For the full-year 2025, Guardant Health, Inc. (GH) is guiding total non-GAAP operating expenses to be in the range of $865 million to $875 million. This reflects a deliberate step-up from earlier guidance, which was $840 million to $850 million as of Q2 2025, and $815 million to $825 million at the start of the year. This increase is directly tied to the commercial ramp for Shield.

When you break down those operating costs, research and development (R&D) remains a significant fixed investment area for the new product pipeline. For the twelve months ending September 30, 2025, Guardant Health, Inc. (GH)'s research and development expenses totaled $0.359B. To give you a sense of the quarterly spend, the Sales and Marketing expense for the second quarter of 2025 was $119,588 thousand, and the R&D expense for that same quarter was $87,449 thousand.

On the flip side of the cost equation, the Cost of Goods Sold (COGS) related to testing is showing improvement, which is key to long-term profitability. The company has guided the full-year 2025 non-GAAP gross margin to be in the range of 64% to 65%. This is an improvement from the 62% to 63% range guided earlier in the year. For context, the non-GAAP gross margin achieved in the third quarter of 2025 was 66%, up from 63% in the prior year period. This margin expansion is helped by operational efficiencies, such as the 50% reduction in COGS achieved for the Reveal test in 2024, and favorable pricing for Shield, which saw its Medicare rate rise to $1,495 starting April 1, 2025, due to its Advanced Diagnostic Laboratory Test (ADLT) status.

Here's a quick look at the most recently reported quarterly operating expense breakdown from Q3 2025, which shows where that investment is going:

Expense Category (Non-GAAP)	Q3 2025 Amount (in millions)	Year-over-Year Change
Non-GAAP Operating Expenses Total	$228.9 million	Increased 22%
Sales and Marketing (Implied from GAAP OpEx context)	Significant driver of OpEx increase	Driven by Shield commercial team expansion
Research and Development (TTM ending Sep 30, 2025)	$359 million	Increased 4.48% YoY

The high investment in commercial infrastructure and marketing for Shield's launch is evident in the operating expense structure. The company is prioritizing market penetration now, which means absorbing higher costs in the near term to secure future revenue streams. The key cost drivers you need to watch are:

• High spending on commercial team expansion for Shield.
• Marketing activities supporting the Shield product launch.
• Ongoing Research and Development for the product pipeline.
• Cost of Revenue for testing, though improving with scale.

Finance: draft 13-week cash view by Friday.

Guardant Health, Inc. (GH) - Canvas Business Model: Revenue Streams

You're looking at the core ways Guardant Health, Inc. brings in money as of late 2025. It's a mix of established diagnostic services and a rapidly scaling early detection product. Honestly, the momentum in Q3 2025 suggests they are hitting their stride on the guidance they just raised.

The primary driver remains the Oncology test revenue, which includes flagship products like Guardant360 and Reveal. Management now expects this segment to grow approximately 25% year over year for the full 2025 fiscal year, up from prior expectations. This acceleration is supported by strong volume, with oncology test volume accelerating to greater than 30% growth in 2025 compared to 20% growth in 2024. To be fair, the third quarter saw a 31% year-over-year increase in Oncology revenue, hitting $184.4 million on approximately 74,000 tests.

Next up is the Screening test revenue from Shield. This is the growth story of the year, with guidance for the full year 2025 now set between $71 million to $73 million. That's a significant jump, reflecting strong adoption; in Q3 2025 alone, Shield brought in $24.1 million from about 24,000 tests. If onboarding takes 14+ days, churn risk rises, but the volume numbers suggest they are managing the process well enough to hit these targets.

The third stream is Biopharma and Data revenue, which comes from partnerships and data licensing activities. This segment is expected to see continued growth in the mid-teens range. In the third quarter of 2025, this revenue component was $54.7 million, marking an 18% year-over-year increase.

Here's the quick math on how these streams combine for the full-year outlook:

Revenue Stream Component	Full-Year 2025 Guidance/Projection	Q3 2025 Actual Revenue ($M)
Oncology Test Revenue (Guardant360, Reveal)	Expected growth ~25% Y/Y	$184.4
Screening Test Revenue (Shield)	$71 million to $73 million	$24.11
Biopharma and Data Revenue	Expected growth mid-teens	$54.73
Total Full-Year 2025 Revenue Guidance	$965 million to $970 million	$265.2 (Total Q3 2025)

You can see the breakdown of the key revenue-generating activities that feed these streams:

• Guardant360 Liquid, Tissue, and Reveal volumes are accelerating.
• Oncology test volume growth was 40% year-over-year in Q3 2025.
• Shield volume reached approximately 24,000 tests in Q3 2025.
• Two additional companion diagnostic approvals were secured in Q3.

The overall confidence in these streams led Guardant Health, Inc. to raise its total full-year 2025 revenue guidance to a range of $965 million to $970 million, representing approximately 31% year-over-year growth. Finance: draft 13-week cash view by Friday.