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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and IRONWOOD PHARMACEUTICALS INC (IRWD). Click either name above to swap in a different company.
IRONWOOD PHARMACEUTICALS INC is the larger business by last-quarter revenue ($47.7M vs $43.6M, roughly 1.1× GRAIL, Inc.). IRONWOOD PHARMACEUTICALS INC runs the higher net margin — -4.8% vs -227.5%, a 222.7% gap on every dollar of revenue. On growth, GRAIL, Inc. posted the faster year-over-year revenue change (14.0% vs -47.3%). IRONWOOD PHARMACEUTICALS INC produced more free cash flow last quarter ($74.6M vs $-63.9M). Over the past eight quarters, GRAIL, Inc.'s revenue compounded faster (27.7% CAGR vs -20.2%).
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.
Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
GRAL vs IRWD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $47.7M |
| Net Profit | $-99.2M | $-2.3M |
| Gross Margin | — | — |
| Operating Margin | -285.4% | 14.3% |
| Net Margin | -227.5% | -4.8% |
| Revenue YoY | 14.0% | -47.3% |
| Net Profit YoY | -2.2% | -200.9% |
| EPS (diluted) | $-2.37 | $0.01 |
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 | $47.7M | ||
| Q3 25 | $36.2M | $122.1M | ||
| Q2 25 | $35.5M | $85.2M | ||
| Q1 25 | $31.8M | $41.1M | ||
| Q4 24 | $38.3M | $90.5M | ||
| Q3 24 | $28.7M | $91.6M | ||
| Q2 24 | $32.0M | $94.4M | ||
| Q1 24 | $26.7M | $74.9M |
| Q4 25 | $-99.2M | $-2.3M | ||
| Q3 25 | $-89.0M | $40.1M | ||
| Q2 25 | $-114.0M | $23.6M | ||
| Q1 25 | $-106.2M | $-37.4M | ||
| Q4 24 | $-97.1M | $2.3M | ||
| Q3 24 | $-125.7M | $3.6M | ||
| Q2 24 | $-1.6B | $-860.0K | ||
| Q1 24 | $-218.9M | $-4.2M |
| Q4 25 | -285.4% | 14.3% | ||
| Q3 25 | -346.2% | 61.8% | ||
| Q2 25 | -446.9% | 53.2% | ||
| Q1 25 | -482.5% | -70.7% | ||
| Q4 24 | -358.0% | 34.8% | ||
| Q3 24 | -640.5% | 28.0% | ||
| Q2 24 | -5133.8% | 26.5% | ||
| Q1 24 | -851.1% | 14.7% |
| Q4 25 | -227.5% | -4.8% | ||
| Q3 25 | -245.8% | 32.8% | ||
| Q2 25 | -320.7% | 27.7% | ||
| Q1 25 | -333.6% | -90.9% | ||
| Q4 24 | -253.8% | 2.5% | ||
| Q3 24 | -438.7% | 4.0% | ||
| Q2 24 | -4958.8% | -0.9% | ||
| Q1 24 | -819.3% | -5.6% |
| Q4 25 | $-2.37 | $0.01 | ||
| Q3 25 | $-2.46 | $0.23 | ||
| Q2 25 | $-3.18 | $0.14 | ||
| Q1 25 | $-3.10 | $-0.23 | ||
| Q4 24 | $-1.49 | $0.03 | ||
| Q3 24 | $-3.94 | $0.02 | ||
| Q2 24 | $-51.06 | $-0.01 | ||
| Q1 24 | $-7.05 | $-0.03 |
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 | $215.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $-261.8M |
| Total Assets | $2.9B | $396.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $249.7M | $215.5M | ||
| Q3 25 | $126.9M | $140.4M | ||
| Q2 25 | $127.4M | $92.9M | ||
| Q1 25 | $133.9M | $108.5M | ||
| Q4 24 | $214.2M | $88.6M | ||
| Q3 24 | $853.6M | $88.2M | ||
| Q2 24 | $958.8M | $105.5M | ||
| Q1 24 | $199.7M | $121.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | $199.5M | ||
| Q2 25 | — | $199.3M | ||
| Q1 25 | — | $199.2M | ||
| Q4 24 | — | $199.0M | ||
| Q3 24 | — | $198.8M | ||
| Q2 24 | — | $198.6M | ||
| Q1 24 | — | $398.3M |
| Q4 25 | $2.6B | $-261.8M | ||
| Q3 25 | $2.2B | $-264.2M | ||
| Q2 25 | $2.3B | $-308.2M | ||
| Q1 25 | $2.4B | $-334.1M | ||
| Q4 24 | $2.5B | $-301.3M | ||
| Q3 24 | $2.6B | $-311.3M | ||
| Q2 24 | $2.7B | $-321.7M | ||
| Q1 24 | — | $-330.5M |
| Q4 25 | $2.9B | $396.9M | ||
| Q3 25 | $2.6B | $396.1M | ||
| Q2 25 | $2.7B | $342.9M | ||
| Q1 25 | $2.8B | $327.2M | ||
| Q4 24 | $3.0B | $350.9M | ||
| Q3 24 | $3.1B | $389.5M | ||
| Q2 24 | $3.3B | $395.6M | ||
| Q1 24 | — | $438.8M |
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 | $-63.8M | $74.6M |
| Free Cash FlowOCF − Capex | $-63.9M | $74.6M |
| FCF MarginFCF / Revenue | -146.5% | 156.3% |
| Capex IntensityCapex / Revenue | 0.2% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-299.9M | $127.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-63.8M | $74.6M | ||
| Q3 25 | $-63.2M | $47.6M | ||
| Q2 25 | $-77.0M | $-15.1M | ||
| Q1 25 | $-95.0M | $20.0M | ||
| Q4 24 | — | $15.2M | ||
| Q3 24 | $-104.6M | $9.9M | ||
| Q2 24 | $-171.8M | $33.5M | ||
| Q1 24 | $-207.3M | $45.0M |
| Q4 25 | $-63.9M | $74.6M | ||
| Q3 25 | $-63.6M | $47.6M | ||
| Q2 25 | $-77.3M | $-15.1M | ||
| Q1 25 | $-95.1M | $19.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-105.6M | $9.9M | ||
| Q2 24 | $-173.2M | $33.4M | ||
| Q1 24 | $-209.8M | $44.9M |
| Q4 25 | -146.5% | 156.3% | ||
| Q3 25 | -175.8% | 39.0% | ||
| Q2 25 | -217.6% | -17.7% | ||
| Q1 25 | -298.6% | 48.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | -368.4% | 10.8% | ||
| Q2 24 | -541.7% | 35.4% | ||
| Q1 24 | -785.3% | 60.0% |
| Q4 25 | 0.2% | 0.0% | ||
| Q3 25 | 1.1% | 0.0% | ||
| Q2 25 | 1.0% | 0.0% | ||
| Q1 25 | 0.2% | 0.1% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | 3.4% | 0.0% | ||
| Q2 24 | 4.3% | 0.1% | ||
| Q1 24 | 9.5% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | — | -0.64× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.74× | ||
| Q3 24 | — | 2.71× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
IRWD
Segment breakdown not available.
