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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and NETSTREIT Corp. (NTST). Click either name above to swap in a different company.
NETSTREIT Corp. is the larger business by last-quarter revenue ($57.1M vs $43.6M, roughly 1.3× GRAIL, Inc.). NETSTREIT Corp. runs the higher net margin — 10.0% vs -227.5%, a 237.5% gap on every dollar of revenue. On growth, NETSTREIT Corp. posted the faster year-over-year revenue change (24.3% vs 14.0%). Over the past eight quarters, GRAIL, Inc.'s revenue compounded faster (27.7% CAGR vs 20.1%).
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.
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
GRAL vs NTST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $57.1M |
| Net Profit | $-99.2M | $5.7M |
| Gross Margin | — | — |
| Operating Margin | -285.4% | 34.1% |
| Net Margin | -227.5% | 10.0% |
| Revenue YoY | 14.0% | 24.3% |
| Net Profit YoY | -2.2% | 235.9% |
| EPS (diluted) | $-2.37 | $0.32 |
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.
| Q1 26 | — | $57.1M | ||
| Q4 25 | $43.6M | $52.5M | ||
| Q3 25 | $36.2M | $48.3M | ||
| Q2 25 | $35.5M | $48.3M | ||
| Q1 25 | $31.8M | $45.9M | ||
| Q4 24 | $38.3M | $44.1M | ||
| Q3 24 | $28.7M | $41.4M | ||
| Q2 24 | $32.0M | $39.6M |
| Q1 26 | — | $5.7M | ||
| Q4 25 | $-99.2M | $1.3M | ||
| Q3 25 | $-89.0M | $618.0K | ||
| Q2 25 | $-114.0M | $3.3M | ||
| Q1 25 | $-106.2M | $1.7M | ||
| Q4 24 | $-97.1M | $-5.4M | ||
| Q3 24 | $-125.7M | $-5.3M | ||
| Q2 24 | $-1.6B | $-2.3M |
| Q1 26 | — | 34.1% | ||
| Q4 25 | -285.4% | 2.6% | ||
| Q3 25 | -346.2% | 1.3% | ||
| Q2 25 | -446.9% | 6.8% | ||
| Q1 25 | -482.5% | 3.7% | ||
| Q4 24 | -358.0% | -12.3% | ||
| Q3 24 | -640.5% | -12.8% | ||
| Q2 24 | -5133.8% | -5.8% |
| Q1 26 | — | 10.0% | ||
| Q4 25 | -227.5% | 2.5% | ||
| Q3 25 | -245.8% | 1.3% | ||
| Q2 25 | -320.7% | 6.8% | ||
| Q1 25 | -333.6% | 3.7% | ||
| Q4 24 | -253.8% | -12.3% | ||
| Q3 24 | -438.7% | -12.8% | ||
| Q2 24 | -4958.8% | -5.8% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $-2.37 | $0.01 | ||
| Q3 25 | $-2.46 | $0.01 | ||
| Q2 25 | $-3.18 | $0.04 | ||
| Q1 25 | $-3.10 | $0.02 | ||
| Q4 24 | $-1.49 | $-0.07 | ||
| Q3 24 | $-3.94 | $-0.07 | ||
| Q2 24 | $-51.06 | $-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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $1.5B |
| Total Assets | $2.9B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $249.7M | — | ||
| Q3 25 | $126.9M | — | ||
| Q2 25 | $127.4M | — | ||
| Q1 25 | $133.9M | — | ||
| Q4 24 | $214.2M | — | ||
| Q3 24 | $853.6M | — | ||
| Q2 24 | $958.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $926.6M | ||
| Q1 25 | — | $913.3M | ||
| Q4 24 | — | $868.3M | ||
| Q3 24 | — | $778.7M | ||
| Q2 24 | — | $726.2M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $2.6B | $1.4B | ||
| Q3 25 | $2.2B | $1.3B | ||
| Q2 25 | $2.3B | $1.3B | ||
| Q1 25 | $2.4B | $1.3B | ||
| Q4 24 | $2.5B | $1.3B | ||
| Q3 24 | $2.6B | $1.3B | ||
| Q2 24 | $2.7B | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $2.9B | $2.6B | ||
| Q3 25 | $2.6B | $2.5B | ||
| Q2 25 | $2.7B | $2.3B | ||
| Q1 25 | $2.8B | $2.3B | ||
| Q4 24 | $3.0B | $2.3B | ||
| Q3 24 | $3.1B | $2.2B | ||
| Q2 24 | $3.3B | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.84× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.55× |
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 | — |
| Free Cash FlowOCF − Capex | $-63.9M | — |
| FCF MarginFCF / Revenue | -146.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-299.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-63.8M | $109.5M | ||
| Q3 25 | $-63.2M | $28.0M | ||
| Q2 25 | $-77.0M | $30.6M | ||
| Q1 25 | $-95.0M | $22.1M | ||
| Q4 24 | — | $90.2M | ||
| Q3 24 | $-104.6M | $25.1M | ||
| Q2 24 | $-171.8M | $25.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-63.9M | — | ||
| Q3 25 | $-63.6M | — | ||
| Q2 25 | $-77.3M | — | ||
| Q1 25 | $-95.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-105.6M | — | ||
| Q2 24 | $-173.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | -146.5% | — | ||
| Q3 25 | -175.8% | — | ||
| Q2 25 | -217.6% | — | ||
| Q1 25 | -298.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -368.4% | — | ||
| Q2 24 | -541.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | 4.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 82.46× | ||
| Q3 25 | — | 45.27× | ||
| Q2 25 | — | 9.36× | ||
| Q1 25 | — | 13.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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% |
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
