Guardant Health Reports Record Second Quarter Earnings for FY2023
August 10, 2023
🌥️Earnings Overview
On August 3 2023, GUARDANT HEALTH ($NASDAQ:GH) released their earnings report for the second quarter of FY2023, ending June 30 2023. Total revenue increased by 25.7% year over year, totaling USD 137.2 million. Net income for the quarter was significantly better than the prior year, at USD -72.8 million compared to -229.4 million.
Share Price
The company’s stock opened at $35.8 and closed at $35.5, down 1.7% from its previous closing price of 36.1. The decrease signals that investors may be cautious about the future of the company’s financial performance. The quarterly report highlighted impressive growth in their core business, especially in the liquid biopsy market. Guardant Health‘s impressive earnings report indicates that the company is well-positioned for future growth as it continues to expand its presence in the liquid biopsy market.
With its strong financial performance and innovative products, Guardant Health is quickly becoming a major player in the industry. Investors are optimistic that the company’s stock will continue to show strength going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Guardant Health. More…
| Total Revenues | Net Income | Net Margin |
| 510.16 | -508.23 | -99.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Guardant Health. More…
| Operations | Investing | Financing |
| -337.37 | 28 | 366.01 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Guardant Health. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.84k | 1.55k | 2.49 |
Key Ratios Snapshot
Some of the financial key ratios for Guardant Health are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.6% | – | -98.8% |
| FCF Margin | ROE | ROA |
| -75.1% | -254.0% | -17.1% |
Analysis
GoodWhale has conducted a fundamental analysis of GUARDANT HEALTH and found the company to be a high risk investment in terms of financial and business aspects. Our Risk Rating system assessed the company’s balance sheet, cashflow statement, non-financial and financial journals and revealed four distinct risk warnings that investors should be aware of. To get a better understanding of the company’s financial profile, we encourage potential investors to register on GoodWhale.com and view the detailed risk warnings that our analysis has identified. More…
Peers
The competition in the market for cancer detection and treatment is heating up. Guardant Health Inc, a leading player in the field, is up against some stiff competition from the likes of Aclaris Therapeutics Inc, Inoviq Ltd, and Biomark Diagnostics Inc. All these companies are vying for a share of the pie in this rapidly growing market. While Guardant Health Inc has a strong product portfolio and a good track record, its competitors are not far behind and are also making inroads into this market. It remains to be seen who will emerge victorious in this battle.
– Aclaris Therapeutics Inc ($NASDAQ:ACRS)
Aclaris Therapeutics Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of drugs for the treatment of dermatological and immuno-inflammatory diseases. The company’s lead product candidates include ATI-502 for the treatment of seborrheic keratosis, and ATI-501 for the treatment of vitiligo. Aclaris Therapeutics Inc has a market cap of 1.11B as of 2022, a Return on Equity of -25.42%.
– Inoviq Ltd ($ASX:IIQ)
Inoviq Ltd is a publicly traded company with a market capitalization of 50.61M as of 2022. The company’s return on equity (ROE) is -13.68%. Inoviq Ltd is engaged in the development and commercialization of innovative drugs and therapies. The company’s products are designed to improve the lives of patients with serious medical conditions. Inoviq’s products are available in more than 60 countries worldwide.
– Biomark Diagnostics Inc ($OTCPK:BMKDF)
Biomark Diagnostics Inc is a company that provides diagnostic testing services. The company has a market capitalization of 10.88 million as of 2022 and a return on equity of 179.57%. The company’s diagnostic testing services include tests for cancer, cardiovascular disease, and infectious diseases. Biomark Diagnostics Inc is headquartered in the United States.
Summary
Investors should take note of Guardant Health‘s strong second quarter performance in FY2023, with a 25.7% year-over-year increase in total revenue and a dramatic improvement in net income, from a loss of USD -229.4 million to USD -72.8 million. This shows improved operational efficiency and financial stability, presenting an attractive long-term investment opportunity for those interested in the biotechnology sector. Guardant Health has positioned itself as a leader in the field of precision medicine and this latest financial performance could further bolster its standing.
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