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Guardant Health vs Veracyte: revenue, profit, margins and growth compared

Guardant Health brought in $982M of revenue in fiscal 2025, Veracyte $517.1M in fiscal 2025. Revenue changed by +32.9% at Guardant Health and +16.0% at Veracyte on the year before, so Guardant Health grew faster. Guardant Health kept -42.4% of its revenue as net profit, Veracyte 12.8%. Free cash flow was -$233.1M at Guardant Health and $126.6M at Veracyte.

Side by side, latest fiscal year

GHVCYT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$982M$517.1M
Revenue growth+32.9%+16.0%
Net income-$416.3M$66.4M
Net margin-42.4%12.8%
Free cash flow-$233.1M$126.6M
Free cash flow margin-23.7%24.5%
Earnings per share (diluted)-$3.32$0.82
Cash$378.2M$362.6M
Debt$1.5Bn/a
Price to earningsn/a55.4
Market value$23.8B$3.7B
Dividend yieldn/an/a
Rank by revenue in sector#146 of 523 · Health care#190 of 523 · Health care

Over the years

Revenue
GH FY2018: $90.6MGH FY2019: $214.4MGH FY2020: $286.7MGH FY2021: $373.7MGH FY2022: $449.5MGH FY2023: $563.9MGH FY2024: $739MGH FY2025: $982MVCYT FY2018: $92MVCYT FY2019: $120.4MVCYT FY2020: $117.5MVCYT FY2021: $219.5MVCYT FY2022: $296.5MVCYT FY2023: $361.1MVCYT FY2024: $445.8MVCYT FY2025: $517.1MFY18FY19FY20FY21FY22FY23FY24FY25
GH $982MVCYT $517.1M
Net income
GH FY2018: -$85.1MGH FY2019: -$75.7MGH FY2020: -$253.8MGH FY2021: -$384.8MGH FY2022: -$654.6MGH FY2023: -$479.4MGH FY2024: -$436.4MGH FY2025: -$416.3MVCYT FY2018: -$23MVCYT FY2019: -$12.6MVCYT FY2020: -$34.9MVCYT FY2021: -$75.6MVCYT FY2022: -$36.6MVCYT FY2023: -$74.4MVCYT FY2024: $24.1MVCYT FY2025: $66.4MFY18FY19FY20FY21FY22FY23FY24FY25
GH -$416.3MVCYT $66.4M
Net margin
GH FY2018: -93.8%GH FY2019: -35.3%GH FY2020: -88.5%GH FY2021: -103.0%GH FY2022: -145.6%GH FY2023: -85.0%GH FY2024: -59.0%GH FY2025: -42.4%VCYT FY2018: -25.0%VCYT FY2019: -10.5%VCYT FY2020: -29.7%VCYT FY2021: -34.4%VCYT FY2022: -12.3%VCYT FY2023: -20.6%VCYT FY2024: 5.4%VCYT FY2025: 12.8%FY18FY19FY20FY21FY22FY23FY24FY25
GH -42.4%VCYT 12.8%
Revenue growth
GH FY2019: +136.5%GH FY2020: +33.8%GH FY2021: +30.3%GH FY2022: +20.3%GH FY2023: +25.5%GH FY2024: +31.0%GH FY2025: +32.9%VCYT FY2019: +30.8%VCYT FY2020: -2.4%VCYT FY2021: +86.8%VCYT FY2022: +35.1%VCYT FY2023: +21.8%VCYT FY2024: +23.5%VCYT FY2025: +16.0%FY19FY20FY21FY22FY23FY24FY25
GH +32.9%VCYT +16.0%
Free cash flow
GH FY2018: -$92.4MGH FY2019: -$65.9MGH FY2020: -$140.1MGH FY2021: -$284.1MGH FY2022: -$386.9MGH FY2023: -$345.5MGH FY2024: -$274.9MGH FY2025: -$233.1MVCYT FY2018: -$15.4MVCYT FY2019: -$6MVCYT FY2020: -$12.5MVCYT FY2021: -$37MVCYT FY2022: -$1MVCYT FY2023: $34.3MVCYT FY2024: $63.8MVCYT FY2025: $126.6MFY18FY19FY20FY21FY22FY23FY24FY25
GH -$233.1MVCYT $126.6M

Fiscal years as each company reports them; the two may end in different months.

Questions about Guardant Health and Veracyte

Which is bigger by revenue, Guardant Health or Veracyte?

Guardant Health is bigger by revenue: $982M in fiscal 2025, against $517.1M for Veracyte in fiscal 2025.

Which keeps more of its revenue as profit, Guardant Health or Veracyte?

Guardant Health had a net margin of -42.4% in fiscal 2025; Veracyte had 12.8% in fiscal 2025.

Which grew revenue faster, Guardant Health or Veracyte?

In their latest fiscal years revenue changed by +32.9% at Guardant Health and +16.0% at Veracyte.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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