Guardant Health (NASDAQ: GH) reported Q1 EPS of ($0.46), $0.41 better than the analyst estimate of ($0.87). Revenue for the quarter came in at $168.5 million versus the consensus estimate of $150.04 million.

GUIDANCE:

Guardant Health sees FY2024 revenue of $675-685 million, versus the consensus of $663.7 million, representing growth of 20% to 21% compared to full year 2023 This compares to the prior range of $655 to $670 million, representing growth of 16% to 19%. Guardant Health now expects full year 2024 non-GAAP gross margin excluding screening to be in the range of 61% to 63%, compared to the prior range of 60% to 62%. Guardant Health now expects total non-GAAP operating expenses to be in the range of $720 to $730 million, representing a flat to 1% decrease compared to 2023, an improvement compared to the prior range of $740 to $750 million. Guardant Health now expects free cash flow to be in the range of $(275) to $(285) million in 2024, an improvement compared to the prior range of $(320) to $(330) million.

For earnings history and earnings-related data on Guardant Health (GH) click here.