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Side-by-side financial comparison of Guardant Health, Inc. (GH) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
Guardant Health, Inc. is the larger business by last-quarter revenue ($281.3M vs $192.7M, roughly 1.5× SPS COMMERCE INC). SPS COMMERCE INC runs the higher net margin — 13.4% vs -45.7%, a 59.1% gap on every dollar of revenue. On growth, Guardant Health, Inc. posted the faster year-over-year revenue change (39.4% vs 12.7%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $-54.2M). Over the past eight quarters, Guardant Health, Inc.'s revenue compounded faster (29.2% CAGR vs 13.5%).
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.
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
GH vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $281.3M | $192.7M |
| Net Profit | $-128.5M | $25.8M |
| Gross Margin | 64.6% | 70.4% |
| Operating Margin | -43.0% | 18.0% |
| Net Margin | -45.7% | 13.4% |
| Revenue YoY | 39.4% | 12.7% |
| Net Profit YoY | -15.8% | 47.2% |
| EPS (diluted) | $-1.01 | $0.69 |
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 | $192.7M | ||
| Q3 25 | $265.2M | $189.9M | ||
| Q2 25 | $232.1M | $187.4M | ||
| Q1 25 | $203.5M | $181.5M | ||
| Q4 24 | $201.8M | $170.9M | ||
| Q3 24 | $191.5M | $163.7M | ||
| Q2 24 | $177.2M | $153.6M | ||
| Q1 24 | $168.5M | $149.6M |
| Q4 25 | $-128.5M | $25.8M | ||
| Q3 25 | $-92.7M | $25.6M | ||
| Q2 25 | $-99.9M | $19.7M | ||
| Q1 25 | $-95.2M | $22.2M | ||
| Q4 24 | $-111.0M | $17.6M | ||
| Q3 24 | $-107.8M | $23.5M | ||
| Q2 24 | $-102.6M | $18.0M | ||
| Q1 24 | $-115.0M | $18.0M |
| Q4 25 | 64.6% | 70.4% | ||
| Q3 25 | 64.7% | 69.5% | ||
| Q2 25 | 65.0% | 68.1% | ||
| Q1 25 | 63.3% | 68.7% | ||
| Q4 24 | 61.6% | 67.5% | ||
| Q3 24 | 61.1% | 68.5% | ||
| Q2 24 | 59.1% | 66.1% | ||
| Q1 24 | 61.2% | 65.6% |
| Q4 25 | -43.0% | 18.0% | ||
| Q3 25 | -37.3% | 16.4% | ||
| Q2 25 | -45.9% | 14.1% | ||
| Q1 25 | -54.6% | 14.3% | ||
| Q4 24 | -62.4% | 14.5% | ||
| Q3 24 | -61.3% | 15.6% | ||
| Q2 24 | -56.8% | 15.1% | ||
| Q1 24 | -59.2% | 10.3% |
| Q4 25 | -45.7% | 13.4% | ||
| Q3 25 | -35.0% | 13.5% | ||
| Q2 25 | -43.0% | 10.5% | ||
| Q1 25 | -46.8% | 12.2% | ||
| Q4 24 | -55.0% | 10.3% | ||
| Q3 24 | -56.3% | 14.3% | ||
| Q2 24 | -57.9% | 11.7% | ||
| Q1 24 | -68.2% | 12.0% |
| Q4 25 | $-1.01 | $0.69 | ||
| Q3 25 | $-0.74 | $0.67 | ||
| Q2 25 | $-0.80 | $0.52 | ||
| Q1 25 | $-0.77 | $0.58 | ||
| Q4 24 | $-0.90 | $0.46 | ||
| Q3 24 | $-0.88 | $0.62 | ||
| Q2 24 | $-0.84 | $0.48 | ||
| Q1 24 | $-0.94 | $0.48 |
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 | $151.4M |
| Total DebtLower is stronger | $1.5B | — |
| Stockholders' EquityBook value | $-99.3M | $973.9M |
| Total Assets | $2.0B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $378.2M | $151.4M | ||
| Q3 25 | $580.0M | $133.7M | ||
| Q2 25 | $629.1M | $107.6M | ||
| Q1 25 | $698.6M | $94.9M | ||
| Q4 24 | $525.5M | $241.0M | ||
| Q3 24 | $585.0M | $205.8M | ||
| Q2 24 | $933.7M | $271.8M | ||
| Q1 24 | $1.0B | $290.8M |
| 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 | $973.9M | ||
| Q3 25 | $-354.5M | $958.9M | ||
| Q2 25 | $-305.5M | $949.8M | ||
| Q1 25 | $-250.8M | $920.9M | ||
| Q4 24 | $-139.6M | $854.7M | ||
| Q3 24 | $-60.1M | $829.4M | ||
| Q2 24 | $-1.6M | $703.4M | ||
| Q1 24 | $68.3M | $683.0M |
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.5B | $1.0B | ||
| Q3 24 | $1.5B | $1.0B | ||
| Q2 24 | $1.6B | $854.5M | ||
| Q1 24 | $1.7B | $839.8M |
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 | $45.9M |
| Free Cash FlowOCF − Capex | $-54.2M | $38.2M |
| FCF MarginFCF / Revenue | -19.3% | 19.8% |
| Capex IntensityCapex / Revenue | 9.9% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $-233.1M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-26.4M | $45.9M | ||
| Q3 25 | $-35.4M | $60.6M | ||
| Q2 25 | $-60.3M | $32.3M | ||
| Q1 25 | $-62.7M | $40.0M | ||
| Q4 24 | $-64.5M | $40.6M | ||
| Q3 24 | $-51.1M | $53.3M | ||
| Q2 24 | $-94.0M | $29.4M | ||
| Q1 24 | $-30.3M | $34.1M |
| Q4 25 | $-54.2M | $38.2M | ||
| Q3 25 | $-45.8M | $54.6M | ||
| Q2 25 | $-65.9M | $25.7M | ||
| Q1 25 | $-67.1M | $33.8M | ||
| Q4 24 | $-83.4M | $34.3M | ||
| Q3 24 | $-55.3M | $48.1M | ||
| Q2 24 | $-99.1M | $24.4M | ||
| Q1 24 | $-37.2M | $30.5M |
| Q4 25 | -19.3% | 19.8% | ||
| Q3 25 | -17.3% | 28.7% | ||
| Q2 25 | -28.4% | 13.7% | ||
| Q1 25 | -33.0% | 18.6% | ||
| Q4 24 | -41.3% | 20.1% | ||
| Q3 24 | -28.9% | 29.4% | ||
| Q2 24 | -55.9% | 15.9% | ||
| Q1 24 | -22.1% | 20.4% |
| Q4 25 | 9.9% | 4.0% | ||
| Q3 25 | 3.9% | 3.2% | ||
| Q2 25 | 2.4% | 3.6% | ||
| Q1 25 | 2.2% | 3.4% | ||
| Q4 24 | 9.4% | 3.6% | ||
| Q3 24 | 2.2% | 3.2% | ||
| Q2 24 | 2.9% | 3.3% | ||
| Q1 24 | 4.1% | 2.4% |
| Q4 25 | — | 1.78× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | — | 1.63× | ||
| Q1 24 | — | 1.89× |
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% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
