Guardant Health Inc (GH) said after close Monday that it lost $0.67 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $143 million, beating estimates by $5.7 million.
In the same quarter a year ago, the company lost $1.18 per share on revenue of $117.4 million.
The stock is down 6.99% to $25.80 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.
InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.
Prior to the report, InvestorsObserver gave the stock an overall score of 40. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
Guardant Health, based in Redwood City, California, provides cancer blood tests and analytics for clinical and research use, and the firm maintains research partnerships with large biopharmaceutical companies. The company offers Guardant 360, a blood-based (liquid biopsy) test for treatment selection in advanced stage cancer, and Guardant Omni, a broader gene panel for immuno-oncology research. The company's pipeline includes Guardant Reveal (formerly Lunar-1), for cancer recurrence detection in survivors, and Lunar-2, a liquid biopsy for early detection of cancer in higher-risk individuals, with an initial focus on colorectal cancer. Additionally, Guardant offers research development services. The United States accounts for 90% of total revenue, and other markets the remaining 10%.
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Guardant Health Inc Down 6.99% To $25.80 After Earnings Beat
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