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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and Inspirato Inc (ISPO). Click either name above to swap in a different company.
Inspirato Inc is the larger business by last-quarter revenue ($55.5M vs $43.6M, roughly 1.3× GRAIL, Inc.). Inspirato Inc runs the higher net margin — -8.1% vs -227.5%, a 219.3% gap on every dollar of revenue. On growth, GRAIL, Inc. posted the faster year-over-year revenue change (14.0% vs -19.6%). Inspirato Inc produced more free cash flow last quarter ($-3.0M vs $-63.9M). Over the past eight quarters, GRAIL, Inc.'s revenue compounded faster (27.7% CAGR vs -11.4%).
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.
Inspirato Inc is a luxury travel and hospitality subscription service provider catering primarily to high-net-worth consumers across North America. It offers curated premium villa rentals, exclusive resort access, customized trip planning, and corporate travel incentive solutions for enterprise clients.
GRAL vs ISPO — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $55.5M |
| Net Profit | $-99.2M | $-4.5M |
| Gross Margin | — | 31.4% |
| Operating Margin | -285.4% | -8.0% |
| Net Margin | -227.5% | -8.1% |
| Revenue YoY | 14.0% | -19.6% |
| Net Profit YoY | -2.2% | -204.4% |
| EPS (diluted) | $-2.37 | $-0.36 |
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 | — | ||
| Q3 25 | $36.2M | $55.5M | ||
| Q2 25 | $35.5M | $63.1M | ||
| Q1 25 | $31.8M | $65.9M | ||
| Q4 24 | $38.3M | $63.1M | ||
| Q3 24 | $28.7M | $69.1M | ||
| Q2 24 | $32.0M | $67.4M | ||
| Q1 24 | $26.7M | $80.2M |
| Q4 25 | $-99.2M | — | ||
| Q3 25 | $-89.0M | $-4.5M | ||
| Q2 25 | $-114.0M | $-5.3M | ||
| Q1 25 | $-106.2M | $1.6M | ||
| Q4 24 | $-97.1M | $-2.3M | ||
| Q3 24 | $-125.7M | $4.3M | ||
| Q2 24 | $-1.6B | $-8.7M | ||
| Q1 24 | $-218.9M | $1.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | 31.4% | ||
| Q2 25 | — | 27.5% | ||
| Q1 25 | — | 38.8% | ||
| Q4 24 | — | 34.7% | ||
| Q3 24 | — | 71.5% | ||
| Q2 24 | — | 24.0% | ||
| Q1 24 | — | 39.5% |
| Q4 25 | -285.4% | — | ||
| Q3 25 | -346.2% | -8.0% | ||
| Q2 25 | -446.9% | -8.3% | ||
| Q1 25 | -482.5% | 2.5% | ||
| Q4 24 | -358.0% | -3.2% | ||
| Q3 24 | -640.5% | 9.8% | ||
| Q2 24 | -5133.8% | -22.8% | ||
| Q1 24 | -851.1% | 3.0% |
| Q4 25 | -227.5% | — | ||
| Q3 25 | -245.8% | -8.1% | ||
| Q2 25 | -320.7% | -8.4% | ||
| Q1 25 | -333.6% | 2.5% | ||
| Q4 24 | -253.8% | -3.6% | ||
| Q3 24 | -438.7% | 6.3% | ||
| Q2 24 | -4958.8% | -12.9% | ||
| Q1 24 | -819.3% | 1.6% |
| Q4 25 | $-2.37 | — | ||
| Q3 25 | $-2.46 | $-0.36 | ||
| Q2 25 | $-3.18 | $-0.42 | ||
| Q1 25 | $-3.10 | $0.12 | ||
| Q4 24 | $-1.49 | $0.98 | ||
| Q3 24 | $-3.94 | $0.62 | ||
| Q2 24 | $-51.06 | $-2.33 | ||
| Q1 24 | $-7.05 | $-0.18 |
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 | $13.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $-134.0M |
| Total Assets | $2.9B | $228.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $249.7M | — | ||
| Q3 25 | $126.9M | $13.7M | ||
| Q2 25 | $127.4M | $16.7M | ||
| Q1 25 | $133.9M | $16.4M | ||
| Q4 24 | $214.2M | $21.8M | ||
| Q3 24 | $853.6M | $13.5M | ||
| Q2 24 | $958.8M | $18.8M | ||
| Q1 24 | $199.7M | $22.6M |
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.2B | $-134.0M | ||
| Q2 25 | $2.3B | $-129.7M | ||
| Q1 25 | $2.4B | $-125.2M | ||
| Q4 24 | $2.5B | $-129.9M | ||
| Q3 24 | $2.6B | $-134.6M | ||
| Q2 24 | $2.7B | $-35.2M | ||
| Q1 24 | — | $-27.5M |
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.6B | $228.3M | ||
| Q2 25 | $2.7B | $252.6M | ||
| Q1 25 | $2.8B | $270.1M | ||
| Q4 24 | $3.0B | $273.9M | ||
| Q3 24 | $3.1B | $273.3M | ||
| Q2 24 | $3.3B | $301.7M | ||
| Q1 24 | — | $313.0M |
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 | $-2.2M |
| Free Cash FlowOCF − Capex | $-63.9M | $-3.0M |
| FCF MarginFCF / Revenue | -146.5% | -5.4% |
| Capex IntensityCapex / Revenue | 0.2% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-299.9M | $-31.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-63.8M | — | ||
| Q3 25 | $-63.2M | $-2.2M | ||
| Q2 25 | $-77.0M | $1.1M | ||
| Q1 25 | $-95.0M | $-6.6M | ||
| Q4 24 | — | $-15.8M | ||
| Q3 24 | $-104.6M | $-13.7M | ||
| Q2 24 | $-171.8M | $-1.8M | ||
| Q1 24 | $-207.3M | $-7.2M |
| Q4 25 | $-63.9M | — | ||
| Q3 25 | $-63.6M | $-3.0M | ||
| Q2 25 | $-77.3M | $468.0K | ||
| Q1 25 | $-95.1M | $-7.5M | ||
| Q4 24 | — | $-21.2M | ||
| Q3 24 | $-105.6M | $-14.8M | ||
| Q2 24 | $-173.2M | $-3.7M | ||
| Q1 24 | $-209.8M | $-8.5M |
| Q4 25 | -146.5% | — | ||
| Q3 25 | -175.8% | -5.4% | ||
| Q2 25 | -217.6% | 0.7% | ||
| Q1 25 | -298.6% | -11.4% | ||
| Q4 24 | — | -33.7% | ||
| Q3 24 | -368.4% | -21.5% | ||
| Q2 24 | -541.7% | -5.5% | ||
| Q1 24 | -785.3% | -10.6% |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 1.1% | 1.4% | ||
| Q2 25 | 1.0% | 1.0% | ||
| Q1 25 | 0.2% | 1.3% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | 3.4% | 1.6% | ||
| Q2 24 | 4.3% | 2.8% | ||
| Q1 24 | 9.5% | 1.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -4.09× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -3.16× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -5.70× |
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% |
ISPO
| Residence And Hotel Travel | $25.9M | 47% |
| Subscription | $19.4M | 35% |
| Experiences And Bespoke Travel | $8.0M | 14% |
| Rewards And Other Revenue | $2.3M | 4% |
