GRAIL, Inc.GRALEarnings & Financial Report
GRAIL, Inc. is an American biotechnology company based in Menlo Park, California founded in 2015 seeking to develop an early cancer screening test for people who do not have symptoms. As a startup it was a subsidiary of Illumina, which bought it outright in 2021.
Revenue
$38.3M
Gross Profit
N/A
Operating Profit
$-136.9M
Net Profit
$-97.1M
Gross Margin
N/A
Operating Margin
-358.0%
Net Margin
-253.8%
YoY Growth
84.6%
EPS
$-1.49
GRAIL, Inc. Q4 FY2024 Financial Summary
GRAIL, Inc. reported revenue of $38.3M (up 84.6% YoY) for Q4 FY2024, with a net profit of $-97.1M (up 89.1% YoY) (-253.8% margin).
Key Financial Metrics
| Total Revenue | $38.3M |
|---|---|
| Net Profit | $-97.1M |
| Gross Margin | N/A |
| Operating Margin | -358.0% |
| Report Period | Q4 FY2024 |
Revenue Breakdown
GRAIL, Inc. Q4 FY2024 revenue of $38.3M breaks down across 2 segments, led by Other at $21.3M (55.6% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Other | $21.3M | 55.6% |
| Developmental Services Revenue | $17.0M | 44.4% |
GRAIL, Inc. Revenue by Segment — Quarterly Trend
GRAIL, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Other and Developmental Services Revenue) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Developmental Services Revenue | $1.3M | $3.4M | $1.2M | $2.7M |
GRAIL, Inc. Annual Revenue by Year
GRAIL, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $147.2M).
| Year | Annual Revenue |
|---|---|
| 2025 | $147.2M |
| 2024 | $125.6M |
GRAIL, Inc. Quarterly Revenue & Net Profit History
GRAIL, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $43.6M | +14.0% | $-99.2M | -227.5% |
| Q3 FY2025 | $36.2M | +26.3% | $-89.0M | -245.8% |
| Q2 FY2025 | $35.5M | +11.2% | $-114.0M | -320.7% |
| Q1 FY2025 | $31.8M | +19.1% | $-106.2M | -333.6% |
| Q4 FY2024 | $38.3M | +84.6% | $-97.1M | -253.8% |
| Q3 FY2024 | $28.7M | — | $-125.7M | -438.7% |
| Q2 FY2024 | $32.0M | +42.6% | $-1.6B | -4958.8% |
| Q1 FY2024 | $26.7M | — | $-218.9M | -819.3% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $26.7M | $32.0M | $28.7M | $38.3M | $31.8M | $35.5M | $36.2M | $43.6M |
| YoY Growth | N/A | 42.6% | N/A | 84.6% | 19.1% | 11.2% | 26.3% | 14.0% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | N/A | $3.27B | $3.12B | $2.98B | $2.85B | $2.70B | $2.60B | $2.92B |
| Liabilities | N/A | $574.5M | $530.3M | $479.9M | $433.9M | $387.9M | $361.1M | $344.2M |
| Equity | N/A | $2.70B | $2.59B | $2.50B | $2.41B | $2.31B | $2.24B | $2.58B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $-207.3M | $-171.8M | $-104.6M | $-95.0M | $-77.0M | $-63.2M | $-63.8M |