Dilution profile // every instrument, one screen, from SEC filings

Guardant Health, Inc. (GH)

CIK 1576280 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGHS-3ASR on file 2026-07-30
= is there a registration (S-1/S-3 family) on file without a later withdrawal
no structured fee data on the live registrations, so this is a yes/no, not a size
Overhead supply
LOWwarrants = 0% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
LOW+14% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
Cash need
LOW~68.4 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-10-312026-07-24

Latest: 134.2M shares as of Jul 24, 2026 (10-Q).

Cash runway

Self-funding

generates cash

Full breakdown: cash runway tool · source filing →

Warrants

Warrants outstanding: 0 underlying shares, as reported Dec 31, 2020 (10-K).

Reported exercise price: $0.14 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 134.2M = 134.2M O/S + 0 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Convertible Senior Notes Due 2031$600.0M$622.7M$62.221.25%~9.6M sh
Convertible Senior Notes Due 2027$490.7M$490.7M$46.090%~10.6M sh
Convertible Senior Notes Due 2033$402.5M$391.2M$121.50%~3.3M sh

If every note above converted at its tagged price: ~23.6M new shares on 134.2M currently outstanding. An estimate from principal ÷ conversion price, with inputs carrying different as-of dates; make-whole adjustments, capped calls and partial repurchases are not modeled.

Notes exactly as the company dimensioned them in its 10-Q filed Jul 30, 2026. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding134.2MJul 24, 2026
+ Warrants (aggregate, as tagged) (if exercised)0Dec 31, 2020
+ Convertible Senior Notes Due 2031 (if fully converted)9.6MJun 30, 2026
+ Convertible Senior Notes Due 2027 (if fully converted)10.6MJun 30, 2026
+ Convertible Senior Notes Due 2033 (if fully converted)3.3MJun 30, 2026
Fully diluted estimate157.8M+17.6% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

S-3ASRJul 30, 2026fee exhibit found but no total offering amount (fees deferred, typical for automatic shelves)filing →

Last 12 months: 3 executed · 1 registered.

REGISTEREDJul 30, 2026Automatic shelf registration — effective immediately (large filers)S-3ASR
EXECUTEDNov 7, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDNov 6, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
MARKETINGNov 5, 2025Free-writing prospectus — offering being marketedFWP
EXECUTEDNov 4, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
MARKETINGNov 4, 2025Free-writing prospectus — offering being marketedFWP
EXECUTEDFeb 14, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDFeb 7, 2025Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDAug 23, 2024Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDDec 21, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDMay 24, 2023Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
REGISTEREDMay 22, 2023Automatic shelf registration — effective immediately (large filers)S-3ASR

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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