GH - Guardant Health Inc. (GH) Q4 2023 Earnings Call Transcript
2024-02-22 23:43:08 ET
Guardant Health, Inc. (GH)
Q4 2023 Results Earnings Conference Call
February 23, 2024, 04:30 PM ET
Company Participants
Carrie Mendivil - Investor Relations, Gilmartin Group LLC
Helmy Eltoukhy - Chairman and co-Chief Executive Officer
AmirAli Talasaz - Co-Chief Executive Officer
Michael Bell - Chief Financial Officer
Conference Call Participants
Mark Massaro - BTIG
Puneet Souda - Leerink Partners
Dan Leonard - UBS
Tejas Savant - Morgan Stanley
Daniel Arias - Stifel Financial
Matthew Sykes - Goldman Sachs
Eve Burstein - Bernstein Research
Daniel Brennan - TD Cowen
Jack Meehan - Nephron Research
Doug Schenkel - Wolfe Research
Casey Woodring - J.P. Morgan
Andrew Cooper - Raymond James
Presentation
Operator
Good afternoon. Thank you for attending the Guardant Health Q4 2024 Earnings Call. My name is Victoria and I'll be your moderator today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. I would now like to pass the conference over to the host, Carrie Mendivil. Thank you. You may proceed, Carrie.
Carrie Mendivil
Thank you. Earlier today, Guardant Health released financial results for the quarter and year ended December 31, 2023. Joining me today from Guardant are Helmy Eltoukhy, Co-CEO; AmirAli Talasaz, Co-CEO; and Mike Bell, Chief Financial Officer.
Before we begin, I'd like to remind you that, during this call, management will make 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-GAAP financial measures, which are adjusted to exclude certain specified items. Additional information regarding material risks and uncertainties as well as the reconciliation to the most directly comparable GAAP financial measures are available in the press release Guardant issued today as well as in our Form 10-K and other filings with the SEC. Guardant disclaims any intention or obligation to update or revise financial projections and forward-looking statements whether because of new information, future events or otherwise. The information in this conference call is accurate only as of the live broadcast.
With that, I'd like to turn the call over to Helmy.
Helmy Eltoukhy
Thanks, Carrie. Good afternoon and thank you for joining our fourth quarter and full year 2023 earnings call. I will start off our call today by providing an update on our progress over 2023 and go into more detail across Therapy Selection and MRD. I will then turn the call over to AmirAli for an update on screening. And finally, Mike will provide a more detailed look at our financials and outlook for 2024.
Starting on slide 3. We made substantial progress in each area of our business throughout the year. Starting with Therapy Selection, after years of investing in our infrastructure, I'm very pleased that Therapy Selection reached cashflow breakeven at the end of the year, marking a major achievement for Guardant.
This follows a series of pivotal reimbursement wins throughout 2023. We now have coverage from all major US commercial health insurers for Guardant360, surpassing 300 million covered lives. We also surpassed 200 million covered lives for TissueNext, received national reimbursement in Japan for Guardant360 and received Medicare reimbursement for Guardant Response. We also exceeded 475 EMR integrated accounts as of year-end, outpacing our prior targets. ...
Guardant Health, Inc. (GH) Q4 2023 Earnings Call Transcript