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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and NORTHERN TECHNOLOGIES INTERNATIONAL CORP (NTIC). Click either name above to swap in a different company.
GRAIL, Inc. is the larger business by last-quarter revenue ($43.6M vs $23.3M, roughly 1.9× NORTHERN TECHNOLOGIES INTERNATIONAL CORP). NORTHERN TECHNOLOGIES INTERNATIONAL CORP runs the higher net margin — 1.0% vs -227.5%, a 228.5% gap on every dollar of revenue. On growth, GRAIL, Inc. posted the faster year-over-year revenue change (14.0% vs 9.2%). NORTHERN TECHNOLOGIES INTERNATIONAL CORP produced more free cash flow last quarter ($-479.7K vs $-63.9M). Over the past eight quarters, GRAIL, Inc.'s revenue compounded faster (27.7% CAGR vs 5.8%).
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.
Maxar Technologies Inc., was an American space technology company, specializing in geospatial intelligence, Earth observation, and on-orbit satellite servicing, satellite products, and related services. DigitalGlobe and MDA Holdings Company merged to become Maxar Technologies on October 5, 2017.
GRAL vs NTIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $23.3M |
| Net Profit | $-99.2M | $237.8K |
| Gross Margin | — | 36.0% |
| Operating Margin | -285.4% | 4.0% |
| Net Margin | -227.5% | 1.0% |
| Revenue YoY | 14.0% | 9.2% |
| Net Profit YoY | -2.2% | -57.6% |
| EPS (diluted) | $-2.37 | $0.03 |
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 | $23.3M | ||
| Q3 25 | $36.2M | $22.3M | ||
| Q2 25 | $35.5M | $21.5M | ||
| Q1 25 | $31.8M | $19.1M | ||
| Q4 24 | $38.3M | $21.3M | ||
| Q3 24 | $28.7M | $23.3M | ||
| Q2 24 | $32.0M | $20.7M | ||
| Q1 24 | $26.7M | $20.8M |
| Q4 25 | $-99.2M | $237.8K | ||
| Q3 25 | $-89.0M | $-1.1M | ||
| Q2 25 | $-114.0M | $121.8K | ||
| Q1 25 | $-106.2M | $434.3K | ||
| Q4 24 | $-97.1M | $561.1K | ||
| Q3 24 | $-125.7M | $1.8M | ||
| Q2 24 | $-1.6B | $976.6K | ||
| Q1 24 | $-218.9M | $1.7M |
| Q4 25 | — | 36.0% | ||
| Q3 25 | — | 37.9% | ||
| Q2 25 | — | 38.4% | ||
| Q1 25 | — | 35.6% | ||
| Q4 24 | — | 38.3% | ||
| Q3 24 | — | 43.8% | ||
| Q2 24 | — | 38.2% | ||
| Q1 24 | — | 40.0% |
| Q4 25 | -285.4% | 4.0% | ||
| Q3 25 | -346.2% | 4.2% | ||
| Q2 25 | -446.9% | 4.0% | ||
| Q1 25 | -482.5% | -1.7% | ||
| Q4 24 | -358.0% | 5.2% | ||
| Q3 24 | -640.5% | 11.8% | ||
| Q2 24 | -5133.8% | 7.4% | ||
| Q1 24 | -851.1% | 10.6% |
| Q4 25 | -227.5% | 1.0% | ||
| Q3 25 | -245.8% | -4.9% | ||
| Q2 25 | -320.7% | 0.6% | ||
| Q1 25 | -333.6% | 2.3% | ||
| Q4 24 | -253.8% | 2.6% | ||
| Q3 24 | -438.7% | 7.9% | ||
| Q2 24 | -4958.8% | 4.7% | ||
| Q1 24 | -819.3% | 8.2% |
| Q4 25 | $-2.37 | $0.03 | ||
| Q3 25 | $-2.46 | $-0.11 | ||
| Q2 25 | $-3.18 | $0.01 | ||
| Q1 25 | $-3.10 | $0.04 | ||
| Q4 24 | $-1.49 | $0.06 | ||
| Q3 24 | $-3.94 | $0.19 | ||
| Q2 24 | $-51.06 | $0.10 | ||
| Q1 24 | $-7.05 | $0.17 |
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 | $6.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $72.4M |
| Total Assets | $2.9B | $104.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $249.7M | $6.4M | ||
| Q3 25 | $126.9M | $7.3M | ||
| Q2 25 | $127.4M | $6.8M | ||
| Q1 25 | $133.9M | $5.1M | ||
| Q4 24 | $214.2M | $5.6M | ||
| Q3 24 | $853.6M | $5.0M | ||
| Q2 24 | $958.8M | $5.8M | ||
| Q1 24 | $199.7M | $4.8M |
| Q4 25 | $2.6B | $72.4M | ||
| Q3 25 | $2.2B | $72.1M | ||
| Q2 25 | $2.3B | $72.4M | ||
| Q1 25 | $2.4B | $69.7M | ||
| Q4 24 | $2.5B | $70.2M | ||
| Q3 24 | $2.6B | $71.2M | ||
| Q2 24 | $2.7B | $68.9M | ||
| Q1 24 | — | $68.4M |
| Q4 25 | $2.9B | $104.0M | ||
| Q3 25 | $2.6B | $102.7M | ||
| Q2 25 | $2.7B | $99.3M | ||
| Q1 25 | $2.8B | $93.7M | ||
| Q4 24 | $3.0B | $94.0M | ||
| Q3 24 | $3.1B | $94.7M | ||
| Q2 24 | $3.3B | $89.3M | ||
| Q1 24 | — | $87.3M |
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 | $341.9K |
| Free Cash FlowOCF − Capex | $-63.9M | $-479.7K |
| FCF MarginFCF / Revenue | -146.5% | -2.1% |
| Capex IntensityCapex / Revenue | 0.2% | 3.5% |
| Cash ConversionOCF / Net Profit | — | 1.44× |
| TTM Free Cash FlowTrailing 4 quarters | $-299.9M | $-1.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-63.8M | $341.9K | ||
| Q3 25 | $-63.2M | $-1.4M | ||
| Q2 25 | $-77.0M | $609.7K | ||
| Q1 25 | $-95.0M | $803.7K | ||
| Q4 24 | — | $2.4M | ||
| Q3 24 | $-104.6M | — | ||
| Q2 24 | $-171.8M | $1.9M | ||
| Q1 24 | $-207.3M | — |
| Q4 25 | $-63.9M | $-479.7K | ||
| Q3 25 | $-63.6M | $-1.4M | ||
| Q2 25 | $-77.3M | $-171.2K | ||
| Q1 25 | $-95.1M | $293.1K | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | $-105.6M | — | ||
| Q2 24 | $-173.2M | $869.4K | ||
| Q1 24 | $-209.8M | — |
| Q4 25 | -146.5% | -2.1% | ||
| Q3 25 | -175.8% | -6.3% | ||
| Q2 25 | -217.6% | -0.8% | ||
| Q1 25 | -298.6% | 1.5% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | -368.4% | — | ||
| Q2 24 | -541.7% | 4.2% | ||
| Q1 24 | -785.3% | — |
| Q4 25 | 0.2% | 3.5% | ||
| Q3 25 | 1.1% | 0.2% | ||
| Q2 25 | 1.0% | 3.6% | ||
| Q1 25 | 0.2% | 2.7% | ||
| Q4 24 | — | 5.7% | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 4.3% | 5.2% | ||
| Q1 24 | 9.5% | — |
| Q4 25 | — | 1.44× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 5.01× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 4.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.99× | ||
| 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% |
NTIC
| Inside The USA To Unaffiliated Customers | $7.5M | 32% |
| Natur Tec | $6.0M | 26% |
| Acobal | $3.6M | 15% |
| Other | $2.7M | 12% |
| BR | $2.1M | 9% |
| Zerust OY | $1.4M | 6% |
