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Guardant Health cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$37.2M in Q3 2026 · −$232M over twelve months

Operating cash flow−$23.7M
Capital spending−$13.5M
Free cash flow−$37.2M
Cash conversion cycle43 days

Analysis

In Q3 2026, Guardant Health generated −$23.7M of operating cash flow and spent $13.5M on capital projects, leaving free cash flow of −$37.2M. That is $8.6M more than in Q3 2025 (−$45.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$173M; the largest uses were operating cash flow ($173M), other investing ($59.0M), capital spending ($58.7M); besides operations, cash came from other financing ($739M), shares issued ($54.1M); the cash balance rose by $456M.

Operating cash flow was −$23.7M against net income of −$124M. The largest differences: stock-based pay +$62.4M, receivables −$42.5M, prepaid and other assets +$23.9M.

Its cash conversion cycle was 43 days (receivables 42 + inventory 73 − payables 72).

Free cash flow

Guardant Health: free cash flow by quarterGuardant Health: free cash flow by quarter−$83.4MQ4 2024−$67.1MQ1 2025−$65.9MQ2 2025−$45.8MQ3 2025−$54.2MQ4 2025−$71.2MQ1 2026−$69.5MQ2 2026−$37.2MQ3 2026
Operating cash flow less capital spending.
Guardant Health: operating cash flow against capital spendingGuardant Health: operating cash flow against capital spendingOperating cash flowCapital spending−$64.5M$18.9MQ4 2024−$62.7M$4.5MQ1 2025−$60.3M$5.6MQ2 2025−$35.4M$10.3MQ3 2025−$26.4M$27.8MQ4 2025−$65.6M$5.6MQ1 2026−$57.8M$11.8MQ2 2026−$23.7M$13.5MQ3 2026
Latest (Q3 2026): Operating cash flow −$23.7M, Capital spending $13.5M.

Capital allocation, year by year

Guardant Health: where the cash came from (up) and went (down), by fiscal yearGuardant Health: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$209MFY2021: Net borrowing −$146KFY2021: Shares issued $8.1MFY2021: Capital spending −$75.0M$8.1MFY2021FY2022: Operating cash flow −$309MFY2022: Net borrowing −$71KFY2022: Shares issued $2.6MFY2022: Capital spending −$77.5M$2.6MFY2022FY2023: Operating cash flow −$325MFY2023: Shares issued $494MFY2023: Capital spending −$20.5M$494MFY2023FY2024: Operating cash flow −$240MFY2024: Shares issued $3.1MFY2024: Capital spending −$35.1M$3.1MFY2024FY2025: Operating cash flow −$185MFY2025: Net borrowing $402MFY2025: Shares issued $364MFY2025: Capital spending −$48.3MFY2025: Acquisitions −$59.0MFY2025: Buybacks −$45.0M$767MFY2025
Over these 5 years operating cash flow totalled −$1.3B; the largest uses were operating cash flow ($1.3B) and capital spending ($256M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.0B
Debt$1.5B
Net debt$476M
Cash runway4.4 years

Guardant Health is burning cash: its operations consume cash, a free cash flow of −$232M a year at the current rate against $1.0B of cash and investments: a runway of about 4.4 years before any new financing.

Where the cash came from and went

Guardant Health: sources (+) and uses (−) of cash, Q3 2026Guardant Health: sources (+) and uses (−) of cash, Q3 2026Operating cash flow−$23.7MCash drawn (+) / kept (−)$21.7MShares issued$19.4MCapital spending−$13.5MTaxes on employees’ shares−$9.8MOther financing$5.5MExchange rates$440K
Guardant Health: sources (+) and uses (−) of cash, TTM to Q3 2026Guardant Health: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$739MCash drawn (+) / kept (−)−$456MOperating cash flow−$173MOther investing−$59.0MCapital spending−$58.7MShares issued$54.1MTaxes on employees’ shares−$44.1MNot reconciled−$851K

From profit to cash

Guardant Health: net income to operating cash flow, Q3 2026Guardant Health: net income to operating cash flow, Q3 2026Net income−$124MDepreciation & amortization$10.2MStock-based pay$62.4MOther non-cash−$1.3MReceivables−$42.5MInventory$12.0MDeferred revenue−$6.9MPrepaid and other assets$23.9MOperating cash flow−$23.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202642737243
Q2 202638746646
Q1 202641735658
Q4 202541823489
Q3 202543863297
Q2 202548905386
Q1 202550895386
Q4 202445853298

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$23.7M−$13.5M—$19.4M$21.7M−$37.2M
Q2 2026−$57.8M−$11.8M—$17.9M−$66.3M−$69.5M
Q1 2026−$65.6M−$5.6M—$3.7M−$612M−$71.2M
Q4 2025−$26.4M−$27.8M—$13.2M$200M−$54.2M
Q3 2025−$35.4M−$10.3M—$3.7M$46.0M−$45.8M
Q2 2025−$60.3M−$5.6M—$1.6M$68.4M−$65.9M
Q1 2025−$62.7M−$4.5M−$45.0M$768K−$174M−$67.1M
Q4 2024−$64.5M−$18.9M—$522K$58.6M−$83.4M

Guardant Health: income statement and cash flow

Guardant Health, Q3 2026: revenue $361M (+36% year over year), operating margin -36.8%. The chart follows the revenue to costs, profit and cash.

Guardant Health: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.