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Side-by-side financial comparison of Guardant Health, Inc. (GH) and IPG PHOTONICS CORP (IPGP). Click either name above to swap in a different company.
Guardant Health, Inc. is the larger business by last-quarter revenue ($281.3M vs $274.5M, roughly 1.0× IPG PHOTONICS CORP). IPG PHOTONICS CORP runs the higher net margin — 4.8% vs -45.7%, a 50.5% gap on every dollar of revenue. On growth, Guardant Health, Inc. posted the faster year-over-year revenue change (39.4% vs 17.1%). IPG PHOTONICS CORP produced more free cash flow last quarter ($10.9M vs $-54.2M). Over the past eight quarters, Guardant Health, Inc.'s revenue compounded faster (29.2% CAGR vs 4.4%).
Guardant Health, Inc. is an American biotechnology company based in Palo Alto, California. Co-founders Helmy Eltoukhy and AmirAli Talasaz serve as co-chief executive officers.
IPG Photonics Corporation is a manufacturer of fiber lasers. IPG Photonics developed and commercialized optical fiber lasers, which are used in a variety of applications including materials processing, medical applications and telecommunications. IPG has manufacturing facilities in the United States, Germany, Russia and Italy.
GH vs IPGP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $281.3M | $274.5M |
| Net Profit | $-128.5M | $13.3M |
| Gross Margin | 64.6% | 36.1% |
| Operating Margin | -43.0% | 1.2% |
| Net Margin | -45.7% | 4.8% |
| Revenue YoY | 39.4% | 17.1% |
| Net Profit YoY | -15.8% | 69.8% |
| EPS (diluted) | $-1.01 | $0.30 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $281.3M | $274.5M | ||
| Q3 25 | $265.2M | $250.8M | ||
| Q2 25 | $232.1M | $250.7M | ||
| Q1 25 | $203.5M | $227.8M | ||
| Q4 24 | $201.8M | $234.3M | ||
| Q3 24 | $191.5M | $233.1M | ||
| Q2 24 | $177.2M | $257.6M | ||
| Q1 24 | $168.5M | $252.0M |
| Q4 25 | $-128.5M | $13.3M | ||
| Q3 25 | $-92.7M | $7.5M | ||
| Q2 25 | $-99.9M | $6.6M | ||
| Q1 25 | $-95.2M | $3.8M | ||
| Q4 24 | $-111.0M | $7.8M | ||
| Q3 24 | $-107.8M | $-233.6M | ||
| Q2 24 | $-102.6M | $20.2M | ||
| Q1 24 | $-115.0M | $24.1M |
| Q4 25 | 64.6% | 36.1% | ||
| Q3 25 | 64.7% | 39.5% | ||
| Q2 25 | 65.0% | 37.3% | ||
| Q1 25 | 63.3% | 39.4% | ||
| Q4 24 | 61.6% | 38.6% | ||
| Q3 24 | 61.1% | 23.2% | ||
| Q2 24 | 59.1% | 37.3% | ||
| Q1 24 | 61.2% | 38.7% |
| Q4 25 | -43.0% | 1.2% | ||
| Q3 25 | -37.3% | 3.1% | ||
| Q2 25 | -45.9% | 0.0% | ||
| Q1 25 | -54.6% | 0.8% | ||
| Q4 24 | -62.4% | 6.0% | ||
| Q3 24 | -61.3% | -108.7% | ||
| Q2 24 | -56.8% | 4.7% | ||
| Q1 24 | -59.2% | 7.6% |
| Q4 25 | -45.7% | 4.8% | ||
| Q3 25 | -35.0% | 3.0% | ||
| Q2 25 | -43.0% | 2.6% | ||
| Q1 25 | -46.8% | 1.6% | ||
| Q4 24 | -55.0% | 3.3% | ||
| Q3 24 | -56.3% | -100.2% | ||
| Q2 24 | -57.9% | 7.8% | ||
| Q1 24 | -68.2% | 9.6% |
| Q4 25 | $-1.01 | $0.30 | ||
| Q3 25 | $-0.74 | $0.18 | ||
| Q2 25 | $-0.80 | $0.16 | ||
| Q1 25 | $-0.77 | $0.09 | ||
| Q4 24 | $-0.90 | $0.27 | ||
| Q3 24 | $-0.88 | $-5.33 | ||
| Q2 24 | $-0.84 | $0.45 | ||
| Q1 24 | $-0.94 | $0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $378.2M | $839.3M |
| Total DebtLower is stronger | $1.5B | — |
| Stockholders' EquityBook value | $-99.3M | $2.1B |
| Total Assets | $2.0B | $2.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $378.2M | $839.3M | ||
| Q3 25 | $580.0M | $870.4M | ||
| Q2 25 | $629.1M | $899.6M | ||
| Q1 25 | $698.6M | $926.9M | ||
| Q4 24 | $525.5M | $930.2M | ||
| Q3 24 | $585.0M | $1.0B | ||
| Q2 24 | $933.7M | $1.1B | ||
| Q1 24 | $1.0B | $1.1B |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-99.3M | $2.1B | ||
| Q3 25 | $-354.5M | $2.1B | ||
| Q2 25 | $-305.5M | $2.1B | ||
| Q1 25 | $-250.8M | $2.1B | ||
| Q4 24 | $-139.6M | $2.0B | ||
| Q3 24 | $-60.1M | $2.1B | ||
| Q2 24 | $-1.6M | $2.3B | ||
| Q1 24 | $68.3M | $2.3B |
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $1.3B | $2.4B | ||
| Q2 25 | $1.3B | $2.4B | ||
| Q1 25 | $1.3B | $2.3B | ||
| Q4 24 | $1.5B | $2.3B | ||
| Q3 24 | $1.5B | $2.4B | ||
| Q2 24 | $1.6B | $2.5B | ||
| Q1 24 | $1.7B | $2.6B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-26.4M | $28.8M |
| Free Cash FlowOCF − Capex | $-54.2M | $10.9M |
| FCF MarginFCF / Revenue | -19.3% | 4.0% |
| Capex IntensityCapex / Revenue | 9.9% | 6.5% |
| Cash ConversionOCF / Net Profit | — | 2.17× |
| TTM Free Cash FlowTrailing 4 quarters | $-233.1M | $-3.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-26.4M | $28.8M | ||
| Q3 25 | $-35.4M | $35.3M | ||
| Q2 25 | $-60.3M | $-2.2M | ||
| Q1 25 | $-62.7M | $13.4M | ||
| Q4 24 | $-64.5M | $73.8M | ||
| Q3 24 | $-51.1M | $66.1M | ||
| Q2 24 | $-94.0M | $53.5M | ||
| Q1 24 | $-30.3M | $54.6M |
| Q4 25 | $-54.2M | $10.9M | ||
| Q3 25 | $-45.8M | $14.6M | ||
| Q2 25 | $-65.9M | $-17.6M | ||
| Q1 25 | $-67.1M | $-11.4M | ||
| Q4 24 | $-83.4M | $50.6M | ||
| Q3 24 | $-55.3M | $43.0M | ||
| Q2 24 | $-99.1M | $29.2M | ||
| Q1 24 | $-37.2M | $26.5M |
| Q4 25 | -19.3% | 4.0% | ||
| Q3 25 | -17.3% | 5.8% | ||
| Q2 25 | -28.4% | -7.0% | ||
| Q1 25 | -33.0% | -5.0% | ||
| Q4 24 | -41.3% | 21.6% | ||
| Q3 24 | -28.9% | 18.4% | ||
| Q2 24 | -55.9% | 11.3% | ||
| Q1 24 | -22.1% | 10.5% |
| Q4 25 | 9.9% | 6.5% | ||
| Q3 25 | 3.9% | 8.3% | ||
| Q2 25 | 2.4% | 6.1% | ||
| Q1 25 | 2.2% | 10.9% | ||
| Q4 24 | 9.4% | 9.9% | ||
| Q3 24 | 2.2% | 9.9% | ||
| Q2 24 | 2.9% | 9.4% | ||
| Q1 24 | 4.1% | 11.1% |
| Q4 25 | — | 2.17× | ||
| Q3 25 | — | 4.73× | ||
| Q2 25 | — | -0.34× | ||
| Q1 25 | — | 3.58× | ||
| Q4 24 | — | 9.44× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.65× | ||
| Q1 24 | — | 2.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GH
| Oncology | $189.9M | 68% |
| Biopharma Data | $54.0M | 19% |
| Screening | $35.1M | 12% |
| Licensing Other | $2.2M | 1% |
IPGP
| Materials Processing | $232.8M | 85% |
| Laser And Non Laser Systems | $38.8M | 14% |
| Transferred Over Time | $5.3M | 2% |
