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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
iQSTEL Inc is the larger business by last-quarter revenue ($84.2M vs $43.6M, roughly 1.9× GRAIL, Inc.). iQSTEL Inc runs the higher net margin — -3.2% vs -227.5%, a 224.3% gap on every dollar of revenue. On growth, GRAIL, Inc. posted the faster year-over-year revenue change (14.0% vs -14.9%). iQSTEL Inc produced more free cash flow last quarter ($-1.2M vs $-63.9M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs 27.7%).
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.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
GRAL vs IQST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $84.2M |
| Net Profit | $-99.2M | $-2.7M |
| Gross Margin | — | 3.5% |
| Operating Margin | -285.4% | -2.9% |
| Net Margin | -227.5% | -3.2% |
| Revenue YoY | 14.0% | -14.9% |
| Net Profit YoY | -2.2% | -44.5% |
| EPS (diluted) | $-2.37 | $-0.92 |
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 | $43.6M | $84.2M | ||
| Q3 25 | $36.2M | $102.9M | ||
| Q2 25 | $35.5M | $72.2M | ||
| Q1 25 | $31.8M | $57.6M | ||
| Q4 24 | $38.3M | $98.9M | ||
| Q3 24 | $28.7M | $54.2M | ||
| Q2 24 | $32.0M | $78.6M | ||
| Q1 24 | $26.7M | $51.4M |
| Q4 25 | $-99.2M | $-2.7M | ||
| Q3 25 | $-89.0M | $-2.3M | ||
| Q2 25 | $-114.0M | $-2.3M | ||
| Q1 25 | $-106.2M | $-1.1M | ||
| Q4 24 | $-97.1M | $-1.9M | ||
| Q3 24 | $-125.7M | $-773.0K | ||
| Q2 24 | $-1.6B | $-2.0M | ||
| Q1 24 | $-218.9M | $-580.2K |
| Q4 25 | — | 3.5% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 3.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | -285.4% | -2.9% | ||
| Q3 25 | -346.2% | -0.5% | ||
| Q2 25 | -446.9% | -0.9% | ||
| Q1 25 | -482.5% | -1.0% | ||
| Q4 24 | -358.0% | -0.3% | ||
| Q3 24 | -640.5% | -0.1% | ||
| Q2 24 | -5133.8% | -0.4% | ||
| Q1 24 | -851.1% | -0.4% |
| Q4 25 | -227.5% | -3.2% | ||
| Q3 25 | -245.8% | -2.3% | ||
| Q2 25 | -320.7% | -3.3% | ||
| Q1 25 | -333.6% | -2.0% | ||
| Q4 24 | -253.8% | -1.9% | ||
| Q3 24 | -438.7% | -1.4% | ||
| Q2 24 | -4958.8% | -2.5% | ||
| Q1 24 | -819.3% | -1.1% |
| Q4 25 | $-2.37 | $-0.92 | ||
| Q3 25 | $-2.46 | $-0.68 | ||
| Q2 25 | $-3.18 | $-0.82 | ||
| Q1 25 | $-3.10 | $-0.44 | ||
| Q4 24 | $-1.49 | $-1.19 | ||
| Q3 24 | $-3.94 | $-0.40 | ||
| Q2 24 | $-51.06 | $-0.90 | ||
| Q1 24 | $-7.05 | $-0.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $249.7M | $2.2M |
| Total DebtLower is stronger | — | $4.1M |
| Stockholders' EquityBook value | $2.6B | $16.3M |
| Total Assets | $2.9B | $51.1M |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $249.7M | $2.2M | ||
| Q3 25 | $126.9M | $2.3M | ||
| Q2 25 | $127.4M | $2.0M | ||
| Q1 25 | $133.9M | $1.1M | ||
| Q4 24 | $214.2M | $2.5M | ||
| Q3 24 | $853.6M | $2.1M | ||
| Q2 24 | $958.8M | $797.2K | ||
| Q1 24 | $199.7M | $2.7M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $2.7M | ||
| Q2 25 | — | $4.5M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
| Q4 25 | $2.6B | $16.3M | ||
| Q3 25 | $2.2B | $17.9M | ||
| Q2 25 | $2.3B | $14.3M | ||
| Q1 25 | $2.4B | $11.6M | ||
| Q4 24 | $2.5B | $11.9M | ||
| Q3 24 | $2.6B | $8.1M | ||
| Q2 24 | $2.7B | $7.6M | ||
| Q1 24 | — | $8.4M |
| Q4 25 | $2.9B | $51.1M | ||
| Q3 25 | $2.6B | $46.9M | ||
| Q2 25 | $2.7B | $51.4M | ||
| Q1 25 | $2.8B | $42.0M | ||
| Q4 24 | $3.0B | $79.0M | ||
| Q3 24 | $3.1B | $32.4M | ||
| Q2 24 | $3.3B | $30.0M | ||
| Q1 24 | — | $22.1M |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.02× |
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 | $-63.8M | $-1.2M |
| Free Cash FlowOCF − Capex | $-63.9M | $-1.2M |
| FCF MarginFCF / Revenue | -146.5% | -1.5% |
| Capex IntensityCapex / Revenue | 0.2% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-299.9M | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-63.8M | $-1.2M | ||
| Q3 25 | $-63.2M | $-953.0K | ||
| Q2 25 | $-77.0M | $257.7K | ||
| Q1 25 | $-95.0M | $-1.9M | ||
| Q4 24 | — | $-403.7K | ||
| Q3 24 | $-104.6M | $625.0K | ||
| Q2 24 | $-171.8M | $-2.6M | ||
| Q1 24 | $-207.3M | $-536.9K |
| Q4 25 | $-63.9M | $-1.2M | ||
| Q3 25 | $-63.6M | $-969.2K | ||
| Q2 25 | $-77.3M | $211.7K | ||
| Q1 25 | $-95.1M | $-2.0M | ||
| Q4 24 | — | $-421.3K | ||
| Q3 24 | $-105.6M | $594.5K | ||
| Q2 24 | $-173.2M | $-2.6M | ||
| Q1 24 | $-209.8M | $-608.5K |
| Q4 25 | -146.5% | -1.5% | ||
| Q3 25 | -175.8% | -0.9% | ||
| Q2 25 | -217.6% | 0.3% | ||
| Q1 25 | -298.6% | -3.4% | ||
| Q4 24 | — | -0.4% | ||
| Q3 24 | -368.4% | 1.1% | ||
| Q2 24 | -541.7% | -3.4% | ||
| Q1 24 | -785.3% | -1.2% |
| Q4 25 | 0.2% | 0.0% | ||
| Q3 25 | 1.1% | 0.0% | ||
| Q2 25 | 1.0% | 0.1% | ||
| Q1 25 | 0.2% | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | 3.4% | 0.1% | ||
| Q2 24 | 4.3% | 0.0% | ||
| Q1 24 | 9.5% | 0.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRAL
| Screening Revenue | $42.3M | 97% |
| Developmental Services Revenue | $1.3M | 3% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
