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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and Katapult Holdings, Inc. (KPLT). Click either name above to swap in a different company.
Katapult Holdings, Inc. is the larger business by last-quarter revenue ($73.9M vs $43.6M, roughly 1.7× GRAIL, Inc.). Katapult Holdings, Inc. runs the higher net margin — 26.8% vs -227.5%, a 254.3% gap on every dollar of revenue. On growth, Katapult Holdings, Inc. posted the faster year-over-year revenue change (17.3% vs 14.0%). Katapult Holdings, Inc. produced more free cash flow last quarter ($-12.0M vs $-63.9M). Over the past eight quarters, GRAIL, Inc.'s revenue compounded faster (27.7% CAGR vs 6.6%).
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.
Katapult Holdings, Inc. is a U.S.-based fintech company that provides accessible point-of-sale lease-to-purchase solutions for consumers with limited or no traditional credit history. It partners with a wide network of e-commerce platforms and brick-and-mortar retail merchants across segments including electronics, furniture and home goods to offer flexible payment plans for customers to obtain needed products.
GRAL vs KPLT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $73.9M |
| Net Profit | $-99.2M | $19.8M |
| Gross Margin | — | 15.6% |
| Operating Margin | -285.4% | -1.4% |
| Net Margin | -227.5% | 26.8% |
| Revenue YoY | 14.0% | 17.3% |
| Net Profit YoY | -2.2% | 307.3% |
| EPS (diluted) | $-2.37 | $3.69 |
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 | $73.9M | ||
| Q3 25 | $36.2M | $74.0M | ||
| Q2 25 | $35.5M | $71.9M | ||
| Q1 25 | $31.8M | $71.9M | ||
| Q4 24 | $38.3M | $63.0M | ||
| Q3 24 | $28.7M | $60.3M | ||
| Q2 24 | $32.0M | $58.9M | ||
| Q1 24 | $26.7M | $65.1M |
| Q4 25 | $-99.2M | $19.8M | ||
| Q3 25 | $-89.0M | $-4.9M | ||
| Q2 25 | $-114.0M | $-7.8M | ||
| Q1 25 | $-106.2M | $-5.7M | ||
| Q4 24 | $-97.1M | $-9.6M | ||
| Q3 24 | $-125.7M | $-8.9M | ||
| Q2 24 | $-1.6B | $-6.9M | ||
| Q1 24 | $-218.9M | $-570.0K |
| Q4 25 | — | 15.6% | ||
| Q3 25 | — | 19.7% | ||
| Q2 25 | — | 15.5% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 19.8% | ||
| Q2 24 | — | 16.9% | ||
| Q1 24 | — | 25.3% |
| Q4 25 | -285.4% | -1.4% | ||
| Q3 25 | -346.2% | 3.3% | ||
| Q2 25 | -446.9% | -2.0% | ||
| Q1 25 | -482.5% | -0.7% | ||
| Q4 24 | -358.0% | -7.7% | ||
| Q3 24 | -640.5% | -7.4% | ||
| Q2 24 | -5133.8% | -4.5% | ||
| Q1 24 | -851.1% | 5.8% |
| Q4 25 | -227.5% | 26.8% | ||
| Q3 25 | -245.8% | -6.7% | ||
| Q2 25 | -320.7% | -10.9% | ||
| Q1 25 | -333.6% | -7.9% | ||
| Q4 24 | -253.8% | -15.2% | ||
| Q3 24 | -438.7% | -14.7% | ||
| Q2 24 | -4958.8% | -11.7% | ||
| Q1 24 | -819.3% | -0.9% |
| Q4 25 | $-2.37 | $3.69 | ||
| Q3 25 | $-2.46 | $-0.94 | ||
| Q2 25 | $-3.18 | $-1.63 | ||
| Q1 25 | $-3.10 | $-1.23 | ||
| Q4 24 | $-1.49 | $-2.17 | ||
| Q3 24 | $-3.94 | $-2.05 | ||
| Q2 24 | $-51.06 | $-1.61 | ||
| Q1 24 | $-7.05 | $-0.13 |
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 | $22.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $-38.1M |
| Total Assets | $2.9B | $107.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $249.7M | $22.4M | ||
| Q3 25 | $126.9M | $3.4M | ||
| Q2 25 | $127.4M | $3.7M | ||
| Q1 25 | $133.9M | $6.0M | ||
| Q4 24 | $214.2M | $3.5M | ||
| Q3 24 | $853.6M | $25.9M | ||
| Q2 24 | $958.8M | $33.7M | ||
| Q1 24 | $199.7M | $31.2M |
| Q4 25 | $2.6B | $-38.1M | ||
| Q3 25 | $2.2B | $-58.4M | ||
| Q2 25 | $2.3B | $-54.1M | ||
| Q1 25 | $2.4B | $-51.7M | ||
| Q4 24 | $2.5B | $-46.8M | ||
| Q3 24 | $2.6B | $-40.3M | ||
| Q2 24 | $2.7B | $-32.9M | ||
| Q1 24 | — | $-27.5M |
| Q4 25 | $2.9B | $107.9M | ||
| Q3 25 | $2.6B | $85.9M | ||
| Q2 25 | $2.7B | $90.6M | ||
| Q1 25 | $2.8B | $88.5M | ||
| Q4 24 | $3.0B | $93.2M | ||
| Q3 24 | $3.1B | $92.0M | ||
| Q2 24 | $3.3B | $106.6M | ||
| Q1 24 | — | $106.6M |
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 | $-11.9M |
| Free Cash FlowOCF − Capex | $-63.9M | $-12.0M |
| FCF MarginFCF / Revenue | -146.5% | -16.2% |
| Capex IntensityCapex / Revenue | 0.2% | 0.0% |
| Cash ConversionOCF / Net Profit | — | -0.60× |
| TTM Free Cash FlowTrailing 4 quarters | $-299.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-63.8M | $-11.9M | ||
| Q3 25 | $-63.2M | $4.0M | ||
| Q2 25 | $-77.0M | $-6.6M | ||
| Q1 25 | $-95.0M | $3.4M | ||
| Q4 24 | — | $-32.6M | ||
| Q3 24 | $-104.6M | $-5.4M | ||
| Q2 24 | $-171.8M | $-628.0K | ||
| Q1 24 | $-207.3M | $2.0M |
| Q4 25 | $-63.9M | $-12.0M | ||
| Q3 25 | $-63.6M | $4.0M | ||
| Q2 25 | $-77.3M | — | ||
| Q1 25 | $-95.1M | $3.4M | ||
| Q4 24 | — | $-32.6M | ||
| Q3 24 | $-105.6M | $-5.4M | ||
| Q2 24 | $-173.2M | $-653.0K | ||
| Q1 24 | $-209.8M | — |
| Q4 25 | -146.5% | -16.2% | ||
| Q3 25 | -175.8% | 5.4% | ||
| Q2 25 | -217.6% | — | ||
| Q1 25 | -298.6% | 4.7% | ||
| Q4 24 | — | -51.8% | ||
| Q3 24 | -368.4% | -9.0% | ||
| Q2 24 | -541.7% | -1.1% | ||
| Q1 24 | -785.3% | — |
| Q4 25 | 0.2% | 0.0% | ||
| Q3 25 | 1.1% | 0.0% | ||
| Q2 25 | 1.0% | 0.0% | ||
| Q1 25 | 0.2% | 0.0% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 3.4% | 0.0% | ||
| Q2 24 | 4.3% | 0.0% | ||
| Q1 24 | 9.5% | 0.0% |
| Q4 25 | — | -0.60× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
KPLT
Segment breakdown not available.
