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Side-by-side financial comparison of Guardant Health, Inc. (GH) and ONTO INNOVATION INC. (ONTO). Click either name above to swap in a different company.
Guardant Health, Inc. is the larger business by last-quarter revenue ($281.3M vs $218.2M, roughly 1.3× ONTO INNOVATION INC.). ONTO INNOVATION INC. runs the higher net margin — 12.9% vs -45.7%, a 58.6% gap on every dollar of revenue. On growth, Guardant Health, Inc. posted the faster year-over-year revenue change (39.4% vs -13.5%). ONTO INNOVATION INC. produced more free cash flow last quarter ($82.0M vs $-54.2M). Over the past eight quarters, Guardant Health, Inc.'s revenue compounded faster (29.2% CAGR vs 2.6%).
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.
Onto Innovation Inc. is an American semiconductor company formed in 2019 from the merger of Rudolph Technologies, Inc. and Nanometrics Incorporated. It is a provider of process and process control equipment and software for microelectronic manufacturing industries.
GH vs ONTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $281.3M | $218.2M |
| Net Profit | $-128.5M | $28.2M |
| Gross Margin | 64.6% | 50.7% |
| Operating Margin | -43.0% | 10.9% |
| Net Margin | -45.7% | 12.9% |
| Revenue YoY | 39.4% | -13.5% |
| Net Profit YoY | -15.8% | -46.8% |
| EPS (diluted) | $-1.01 | $0.57 |
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 | — | ||
| Q3 25 | $265.2M | $218.2M | ||
| Q2 25 | $232.1M | $253.6M | ||
| Q1 25 | $203.5M | $266.6M | ||
| Q4 24 | $201.8M | $263.9M | ||
| Q3 24 | $191.5M | $252.2M | ||
| Q2 24 | $177.2M | $242.3M | ||
| Q1 24 | $168.5M | $228.8M |
| Q4 25 | $-128.5M | — | ||
| Q3 25 | $-92.7M | $28.2M | ||
| Q2 25 | $-99.9M | $33.9M | ||
| Q1 25 | $-95.2M | $64.1M | ||
| Q4 24 | $-111.0M | $48.8M | ||
| Q3 24 | $-107.8M | $53.1M | ||
| Q2 24 | $-102.6M | $52.9M | ||
| Q1 24 | $-115.0M | $46.9M |
| Q4 25 | 64.6% | — | ||
| Q3 25 | 64.7% | 50.7% | ||
| Q2 25 | 65.0% | 48.2% | ||
| Q1 25 | 63.3% | 53.7% | ||
| Q4 24 | 61.6% | 50.2% | ||
| Q3 24 | 61.1% | 54.1% | ||
| Q2 24 | 59.1% | 52.9% | ||
| Q1 24 | 61.2% | 51.7% |
| Q4 25 | -43.0% | — | ||
| Q3 25 | -37.3% | 10.9% | ||
| Q2 25 | -45.9% | 12.7% | ||
| Q1 25 | -54.6% | 23.7% | ||
| Q4 24 | -62.4% | 16.1% | ||
| Q3 24 | -61.3% | 21.0% | ||
| Q2 24 | -56.8% | 20.2% | ||
| Q1 24 | -59.2% | 18.7% |
| Q4 25 | -45.7% | — | ||
| Q3 25 | -35.0% | 12.9% | ||
| Q2 25 | -43.0% | 13.4% | ||
| Q1 25 | -46.8% | 24.0% | ||
| Q4 24 | -55.0% | 18.5% | ||
| Q3 24 | -56.3% | 21.0% | ||
| Q2 24 | -57.9% | 21.9% | ||
| Q1 24 | -68.2% | 20.5% |
| Q4 25 | $-1.01 | — | ||
| Q3 25 | $-0.74 | $0.57 | ||
| Q2 25 | $-0.80 | $0.69 | ||
| Q1 25 | $-0.77 | $1.30 | ||
| Q4 24 | $-0.90 | $0.98 | ||
| Q3 24 | $-0.88 | $1.07 | ||
| Q2 24 | $-0.84 | $1.07 | ||
| Q1 24 | $-0.94 | $0.94 |
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 | $603.1M |
| Total DebtLower is stronger | $1.5B | — |
| Stockholders' EquityBook value | $-99.3M | $2.0B |
| Total Assets | $2.0B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $378.2M | — | ||
| Q3 25 | $580.0M | $603.1M | ||
| Q2 25 | $629.1M | $217.5M | ||
| Q1 25 | $698.6M | $203.7M | ||
| Q4 24 | $525.5M | $212.9M | ||
| Q3 24 | $585.0M | $188.7M | ||
| Q2 24 | $933.7M | $172.6M | ||
| Q1 24 | $1.0B | $190.9M |
| 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 | — | ||
| Q3 25 | $-354.5M | $2.0B | ||
| Q2 25 | $-305.5M | $2.0B | ||
| Q1 25 | $-250.8M | $1.9B | ||
| Q4 24 | $-139.6M | $1.9B | ||
| Q3 24 | $-60.1M | $1.9B | ||
| Q2 24 | $-1.6M | $1.8B | ||
| Q1 24 | $68.3M | $1.8B |
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.3B | $2.2B | ||
| Q2 25 | $1.3B | $2.1B | ||
| Q1 25 | $1.3B | $2.1B | ||
| Q4 24 | $1.5B | $2.1B | ||
| Q3 24 | $1.5B | $2.1B | ||
| Q2 24 | $1.6B | $2.0B | ||
| Q1 24 | $1.7B | $2.0B |
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 | $83.4M |
| Free Cash FlowOCF − Capex | $-54.2M | $82.0M |
| FCF MarginFCF / Revenue | -19.3% | 37.6% |
| Capex IntensityCapex / Revenue | 9.9% | 0.6% |
| Cash ConversionOCF / Net Profit | — | 2.95× |
| TTM Free Cash FlowTrailing 4 quarters | $-233.1M | $261.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-26.4M | — | ||
| Q3 25 | $-35.4M | $83.4M | ||
| Q2 25 | $-60.3M | $57.9M | ||
| Q1 25 | $-62.7M | $92.0M | ||
| Q4 24 | $-64.5M | $56.0M | ||
| Q3 24 | $-51.1M | $67.2M | ||
| Q2 24 | $-94.0M | $65.3M | ||
| Q1 24 | $-30.3M | $57.1M |
| Q4 25 | $-54.2M | — | ||
| Q3 25 | $-45.8M | $82.0M | ||
| Q2 25 | $-65.9M | $44.2M | ||
| Q1 25 | $-67.1M | $83.7M | ||
| Q4 24 | $-83.4M | $51.4M | ||
| Q3 24 | $-55.3M | $59.2M | ||
| Q2 24 | $-99.1M | $53.0M | ||
| Q1 24 | $-37.2M | $50.2M |
| Q4 25 | -19.3% | — | ||
| Q3 25 | -17.3% | 37.6% | ||
| Q2 25 | -28.4% | 17.4% | ||
| Q1 25 | -33.0% | 31.4% | ||
| Q4 24 | -41.3% | 19.5% | ||
| Q3 24 | -28.9% | 23.5% | ||
| Q2 24 | -55.9% | 21.9% | ||
| Q1 24 | -22.1% | 21.9% |
| Q4 25 | 9.9% | — | ||
| Q3 25 | 3.9% | 0.6% | ||
| Q2 25 | 2.4% | 5.4% | ||
| Q1 25 | 2.2% | 3.1% | ||
| Q4 24 | 9.4% | 1.8% | ||
| Q3 24 | 2.2% | 3.2% | ||
| Q2 24 | 2.9% | 5.1% | ||
| Q1 24 | 4.1% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.95× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.27× | ||
| Q2 24 | — | 1.23× | ||
| Q1 24 | — | 1.22× |
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% |
ONTO
| Systems And Software Revenue | $173.8M | 80% |
| Parts Revenue | $23.9M | 11% |
| Service Revenue | $20.5M | 9% |
