Guardant Health, Inc. reported total revenue of $203.5 million for the first quarter of 2025, a 21% increase from $168.5 million in the corresponding prior year period. The company's net loss was $95.2 million, or $0.77 per share, with a non-GAAP net loss of $61.1 million, or $0.49 per share.
The company raised its full-year 2025 revenue guidance to a range of $880 million to $890 million, representing 19% to 20% growth over 2024, up from the prior range of $850 million to $860 million. Oncology revenue grew 20% to $150.6 million, driven by a 25% increase in test volume.
Screening revenue from the Shield test was $5.7 million from approximately 9,000 tests, and biopharma and data revenue grew 21% to $45.4 million. Non-GAAP gross margin improved to 65% from 63% year-over-year, with both Reveal and Shield achieving positive gross margins due to reduced testing costs. The company expects free cash flow burn to be $225 million to $235 million, with the core business (excluding screening) on track to reach free cash flow breakeven in Q4 2025.
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