Filing Flows › Guardant Health (GH) › Q2 2025
Guardant Health (GH) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Guardant Health (GH) reported revenue of $232M for the second quarter 2025 (Q2 2025), +31% from a year earlier and +14% from the quarter before. Operating margin was -45.9%, net loss $99.9M (43.0% of revenue).
Guardant Health, Q2 2025: revenue $232M (+31% year over year), operating margin -45.9%, net loss $99.9M, operating cash flow −$60.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $232M | +14% | +31% |
| Operating profit | −$106M | — | — |
| Net earnings | −$99.9M | — | — |
| Operating cash flow | −$60.3M | — | — |
What changed
Revenue was $232.1M in Q2 2025, up 31% year over year and up 14% from the previous quarter. Oncology was the largest line at 68% of revenue. Oncology added $28.4M year over year (up 22%), 52% of the total change. Licensing and other declined 15%.
Operating costs exceeded revenue by $106.4M, an operating margin of -45.9%. Total costs grew 22% against revenue growth of 31%. The fastest-growing cost line was Sales & marketing (+46%). The quarter ended with a net loss of $99.9M, wider than the previous quarter's $95.2M loss.
Operating cash flow was −$60.3M. Non-cash charges added back $10.0M of depreciation and amortization and $42.5M of share-based compensation. Working capital and other items used $12.9M. Capital expenditures of $5.6M exceeded it, leaving free cash flow of −$65.9M.
Questions
What was Guardant Health's revenue in the second quarter 2025?
Guardant Health (GH) reported revenue of $232M for the second quarter 2025 (Q2 2025), +31% from a year earlier and +14% from the quarter before.
Was Guardant Health profitable in the second quarter 2025?
Operating loss was $106M (-45.9% of revenue) and net loss $99.9M.
Source: Guardant Health 10-Q on SEC EDGAR.