Filing Flows › Guardant Health (GH) › Q3 2025
Guardant Health (GH) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 29, 2025
Guardant Health (GH) reported revenue of $265M for the third quarter 2025 (Q3 2025), +39% from a year earlier and +14% from the quarter before. Operating margin was -37.3%, net loss $92.7M (35.0% of revenue).
Guardant Health, Q3 2025: revenue $265M (+38% year over year), operating margin -37.3%, net loss $92.7M, operating cash flow −$35.4M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $265M | +14% | +39% |
| Operating profit | −$99.0M | — | — |
| Net earnings | −$92.7M | — | — |
| Operating cash flow | −$35.4M | — | — |
What changed
Revenue was $265.2M in Q3 2025, up 39% year over year and up 14% from the previous quarter. Oncology was the largest line at 70% of revenue. Oncology added $43.2M year over year (up 31%), 59% of the total change. Licensing and other declined 29%.
Operating costs exceeded revenue by $99.0M, an operating margin of -37.3%. Total costs grew 18% against revenue growth of 39%. The fastest-growing cost line was Sales & marketing (+30%). The quarter ended with a net loss of $92.7M, narrower than the previous quarter's $99.9M loss.
Operating cash flow was −$35.4M. Non-cash charges added back $9.4M of depreciation and amortization and $42.8M of share-based compensation. Working capital and other items added $5.1M. Capital expenditures of $10.3M exceeded it, leaving free cash flow of −$45.8M.
Questions
What was Guardant Health's revenue in the third quarter 2025?
Guardant Health (GH) reported revenue of $265M for the third quarter 2025 (Q3 2025), +39% from a year earlier and +14% from the quarter before.
Was Guardant Health profitable in the third quarter 2025?
Operating loss was $99.0M (-37.3% of revenue) and net loss $92.7M.
Source: Guardant Health 10-Q on SEC EDGAR.