Guardant Health Inc. shares surged 7.65% in after-hours trading on Thursday following the release of its second-quarter financial results, which showcased a significant revenue beat and an upward revision to its full-year revenue outlook.

The precision oncology company reported Q2 revenue of $335 million, easily surpassing the consensus estimate of $314.2 million and representing a 44% increase from the prior year. While adjusted loss per share of $0.42 slightly missed the analyst expectation of $0.41, investors focused on the robust top-line growth and the raised guidance. Guardant Health now expects full-year 2026 revenue between $1.34 billion and $1.36 billion, up from its previous forecast of $1.30 billion to $1.32 billion and above the FactSet consensus of $1.31 billion. The company also provided a 2026 screening revenue forecast of $218-$230 million, driven by Shield test volume of 270,000-285,000 tests.

The strong quarterly performance was driven by a 38% increase in oncology revenue, fueled by a 63% surge in oncology test volume, and a more than 250% jump in screening revenue, with Shield test volume rising to 66,000 from 16,000 in the year-ago period. Recent FDA approvals and expanded insurance coverage for the Shield blood test were cited as key growth catalysts by co-CEOs.