Q4 2024 Guardant Health Inc Earnings Call Transcript
Key Points
- Guardant Health Inc (GH) reported a 30% year-over-year revenue growth in Q4 2024, reaching $202 million, with full-year revenue totaling $739 million, a 31% increase.
- The company achieved significant improvements in ASP for its Guardant 360 test, reaching $3000, four years ahead of its target, due to reimbursement wins.
- Guardant Health Inc (GH) received FDA approval and Medicare coverage for its Shield blood test for CRC, opening a large market for early cancer detection.
- The company successfully reduced costs for its Reveal test by over 50%, which will save tens of millions of dollars in 2025.
- Guardant Health Inc (GH) expanded its biopharma partnerships to over 180, contributing to a 31% revenue growth in its biopharma segment in 2024.
- Despite strong demand, Guardant Health Inc (GH) managed Reveal volumes ahead of Medicare reimbursement to manage cash burden, indicating potential limitations in meeting market demand.
- The company faces challenges in expanding commercial payer coverage for its Guardant 360 test, as not all national payers cover every test run.
- There is uncertainty regarding the timing of ADLT status designation for Shield, which affects the ASP guidance.
- The company anticipates a back-end loaded volume growth for Shield in 2025 due to the time required to ramp up the productivity of newly hired sales reps.
- Guardant Health Inc (GH) is still in early conversations with commercial payers for Shield, indicating potential delays in broader market adoption outside of Medicare.
Good afternoon.
Thank you for attending today's Guardant Health Q4 2024 earnings call. My name is Tamia, and I will be your moderator for today's call. (Event Instructions) I would now like to pass the conference over to your host, Za Khurshid, VP of Investor Relations. You may proceed.
Thank you. Earlier today, Garden Health released financial results for the quarter and year ended December 31, 2024.
Joining me today from Garden are Helmy Eltoukhy, co-CEO Amir Ali Talaas, co-CEO, and Mike Bell, Chief Financial Officer.
Before we begin, I'd like to remind you that during this call, management we'll be making forward-looking statements within the meaning of federal securities laws. These statements involve material risks and uncertainties that could cause actual results or events to materially differ from those anticipated. This call will also include a discussion of non-gap financial measures. Which are adjusted to exclude certain specified items. Additional
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