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Side-by-side financial comparison of Guardant Health, Inc. (GH) and Merchants Bancorp (MBIN). Click either name above to swap in a different company.
Guardant Health, Inc. is the larger business by last-quarter revenue ($281.3M vs $175.2M, roughly 1.6× Merchants Bancorp). Merchants Bancorp runs the higher net margin — 38.6% vs -45.7%, a 84.3% gap on every dollar of revenue. Over the past eight quarters, Guardant Health, Inc.'s revenue compounded faster (29.2% CAGR vs 4.8%).
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.
Ameris Bancorp is an American bank holding company headquartered in Atlanta, Georgia. Through its bank subsidiary, Ameris Bank, the company operates full-service branches in Georgia, Alabama, Florida, North Carolina and South Carolina, and mortgage-only locations in Georgia, Alabama, Florida, North Carolina, South Carolina, Virginia, Maryland, and Tennessee. The company offers online and mobile banking options for both consumers and businesses.
GH vs MBIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $281.3M | $175.2M |
| Net Profit | $-128.5M | $67.7M |
| Gross Margin | 64.6% | — |
| Operating Margin | -43.0% | — |
| Net Margin | -45.7% | 38.6% |
| Revenue YoY | 39.4% | — |
| Net Profit YoY | -15.8% | 16.3% |
| EPS (diluted) | $-1.01 | $1.25 |
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.
| Q1 26 | — | $175.2M | ||
| Q4 25 | $281.3M | $185.3M | ||
| Q3 25 | $265.2M | $171.1M | ||
| Q2 25 | $232.1M | $179.2M | ||
| Q1 25 | $203.5M | $145.9M | ||
| Q4 24 | $201.8M | $193.8M | ||
| Q3 24 | $191.5M | $149.6M | ||
| Q2 24 | $177.2M | $159.5M |
| Q1 26 | — | $67.7M | ||
| Q4 25 | $-128.5M | — | ||
| Q3 25 | $-92.7M | $54.7M | ||
| Q2 25 | $-99.9M | $38.0M | ||
| Q1 25 | $-95.2M | $58.2M | ||
| Q4 24 | $-111.0M | — | ||
| Q3 24 | $-107.8M | $61.3M | ||
| Q2 24 | $-102.6M | $76.4M |
| Q1 26 | — | — | ||
| Q4 25 | 64.6% | — | ||
| Q3 25 | 64.7% | — | ||
| Q2 25 | 65.0% | — | ||
| Q1 25 | 63.3% | — | ||
| Q4 24 | 61.6% | — | ||
| Q3 24 | 61.1% | — | ||
| Q2 24 | 59.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | -43.0% | 39.9% | ||
| Q3 25 | -37.3% | 37.8% | ||
| Q2 25 | -45.9% | 27.3% | ||
| Q1 25 | -54.6% | 52.4% | ||
| Q4 24 | -62.4% | 66.0% | ||
| Q3 24 | -61.3% | 54.4% | ||
| Q2 24 | -56.8% | 62.2% |
| Q1 26 | — | 38.6% | ||
| Q4 25 | -45.7% | — | ||
| Q3 25 | -35.0% | 32.0% | ||
| Q2 25 | -43.0% | 21.2% | ||
| Q1 25 | -46.8% | 39.9% | ||
| Q4 24 | -55.0% | — | ||
| Q3 24 | -56.3% | 41.0% | ||
| Q2 24 | -57.9% | 47.9% |
| Q1 26 | — | $1.25 | ||
| Q4 25 | $-1.01 | $1.28 | ||
| Q3 25 | $-0.74 | $0.97 | ||
| Q2 25 | $-0.80 | $0.60 | ||
| Q1 25 | $-0.77 | $0.93 | ||
| Q4 24 | $-0.90 | $1.84 | ||
| Q3 24 | $-0.88 | $1.17 | ||
| Q2 24 | $-0.84 | $1.49 |
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 | $83.2M |
| Total DebtLower is stronger | $1.5B | $32.0M |
| Stockholders' EquityBook value | $-99.3M | $2.3B |
| Total Assets | $2.0B | $20.3B |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $83.2M | ||
| Q4 25 | $378.2M | — | ||
| Q3 25 | $580.0M | — | ||
| Q2 25 | $629.1M | — | ||
| Q1 25 | $698.6M | — | ||
| Q4 24 | $525.5M | — | ||
| Q3 24 | $585.0M | — | ||
| Q2 24 | $933.7M | — |
| Q1 26 | — | $32.0M | ||
| 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 26 | — | $2.3B | ||
| Q4 25 | $-99.3M | $2.3B | ||
| Q3 25 | $-354.5M | $2.2B | ||
| Q2 25 | $-305.5M | $2.2B | ||
| Q1 25 | $-250.8M | $2.2B | ||
| Q4 24 | $-139.6M | $2.2B | ||
| Q3 24 | $-60.1M | $1.9B | ||
| Q2 24 | $-1.6M | $1.9B |
| Q1 26 | — | $20.3B | ||
| Q4 25 | $2.0B | $19.4B | ||
| Q3 25 | $1.3B | $19.4B | ||
| Q2 25 | $1.3B | $19.1B | ||
| Q1 25 | $1.3B | $18.8B | ||
| Q4 24 | $1.5B | $18.8B | ||
| Q3 24 | $1.5B | $18.7B | ||
| Q2 24 | $1.6B | $18.2B |
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| Free Cash FlowOCF − Capex | $-54.2M | — |
| FCF MarginFCF / Revenue | -19.3% | — |
| Capex IntensityCapex / Revenue | 9.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-233.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-26.4M | $-341.2M | ||
| Q3 25 | $-35.4M | $29.8M | ||
| Q2 25 | $-60.3M | $-121.2M | ||
| Q1 25 | $-62.7M | $148.0M | ||
| Q4 24 | $-64.5M | $-835.3M | ||
| Q3 24 | $-51.1M | $-492.6M | ||
| Q2 24 | $-94.0M | $51.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-54.2M | $-362.2M | ||
| Q3 25 | $-45.8M | $24.0M | ||
| Q2 25 | $-65.9M | $-125.7M | ||
| Q1 25 | $-67.1M | $141.2M | ||
| Q4 24 | $-83.4M | $-853.7M | ||
| Q3 24 | $-55.3M | $-497.2M | ||
| Q2 24 | $-99.1M | $45.8M |
| Q1 26 | — | — | ||
| Q4 25 | -19.3% | -195.5% | ||
| Q3 25 | -17.3% | 14.0% | ||
| Q2 25 | -28.4% | -70.1% | ||
| Q1 25 | -33.0% | 96.8% | ||
| Q4 24 | -41.3% | -440.6% | ||
| Q3 24 | -28.9% | -332.4% | ||
| Q2 24 | -55.9% | 28.7% |
| Q1 26 | — | — | ||
| Q4 25 | 9.9% | 11.3% | ||
| Q3 25 | 3.9% | 3.4% | ||
| Q2 25 | 2.4% | 2.5% | ||
| Q1 25 | 2.2% | 4.7% | ||
| Q4 24 | 9.4% | 9.5% | ||
| Q3 24 | 2.2% | 3.0% | ||
| Q2 24 | 2.9% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.54× | ||
| Q2 25 | — | -3.19× | ||
| Q1 25 | — | 2.54× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -8.04× | ||
| Q2 24 | — | 0.67× |
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% |
MBIN
| Net Interest Income | $128.6M | 73% |
| Noninterest Income | $46.6M | 27% |
