vs
Side-by-side financial comparison of GRAIL, Inc. (GRAL) and READING INTERNATIONAL INC (RDI). Click either name above to swap in a different company.
READING INTERNATIONAL INC is the larger business by last-quarter revenue ($50.3M vs $43.6M, roughly 1.2× GRAIL, Inc.). READING INTERNATIONAL INC runs the higher net margin — -5.1% vs -227.5%, a 222.4% gap on every dollar of revenue. On growth, GRAIL, Inc. posted the faster year-over-year revenue change (14.0% vs -14.2%). READING INTERNATIONAL INC produced more free cash flow last quarter ($4.1M vs $-63.9M). Over the past eight quarters, GRAIL, Inc.'s revenue compounded faster (27.7% CAGR vs 5.6%).
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.
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
GRAL vs RDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $50.3M |
| Net Profit | $-99.2M | $-2.6M |
| Gross Margin | — | — |
| Operating Margin | -285.4% | -1.9% |
| Net Margin | -227.5% | -5.1% |
| Revenue YoY | 14.0% | -14.2% |
| Net Profit YoY | -2.2% | -14.5% |
| EPS (diluted) | $-2.37 | $-0.11 |
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 | $50.3M | ||
| Q3 25 | $36.2M | $52.2M | ||
| Q2 25 | $35.5M | $60.4M | ||
| Q1 25 | $31.8M | $40.2M | ||
| Q4 24 | $38.3M | $58.6M | ||
| Q3 24 | $28.7M | $60.1M | ||
| Q2 24 | $32.0M | $46.8M | ||
| Q1 24 | $26.7M | $45.1M |
| Q4 25 | $-99.2M | $-2.6M | ||
| Q3 25 | $-89.0M | $-4.2M | ||
| Q2 25 | $-114.0M | $-2.7M | ||
| Q1 25 | $-106.2M | $-4.8M | ||
| Q4 24 | $-97.1M | $-2.2M | ||
| Q3 24 | $-125.7M | $-7.0M | ||
| Q2 24 | $-1.6B | $-12.8M | ||
| Q1 24 | $-218.9M | $-13.2M |
| Q4 25 | -285.4% | -1.9% | ||
| Q3 25 | -346.2% | -0.6% | ||
| Q2 25 | -446.9% | 4.8% | ||
| Q1 25 | -482.5% | -17.2% | ||
| Q4 24 | -358.0% | 2.6% | ||
| Q3 24 | -640.5% | -0.6% | ||
| Q2 24 | -5133.8% | -16.4% | ||
| Q1 24 | -851.1% | -16.7% |
| Q4 25 | -227.5% | -5.1% | ||
| Q3 25 | -245.8% | -8.0% | ||
| Q2 25 | -320.7% | -4.4% | ||
| Q1 25 | -333.6% | -11.8% | ||
| Q4 24 | -253.8% | -3.8% | ||
| Q3 24 | -438.7% | -11.7% | ||
| Q2 24 | -4958.8% | -27.4% | ||
| Q1 24 | -819.3% | -29.4% |
| Q4 25 | $-2.37 | $-0.11 | ||
| Q3 25 | $-2.46 | $-0.18 | ||
| Q2 25 | $-3.18 | $-0.12 | ||
| Q1 25 | $-3.10 | $-0.21 | ||
| Q4 24 | $-1.49 | $-0.11 | ||
| Q3 24 | $-3.94 | $-0.31 | ||
| Q2 24 | $-51.06 | $-0.57 | ||
| Q1 24 | $-7.05 | $-0.59 |
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 | $10.5M |
| Total DebtLower is stronger | — | $185.1M |
| Stockholders' EquityBook value | $2.6B | $-18.2M |
| Total Assets | $2.9B | $434.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $249.7M | $10.5M | ||
| Q3 25 | $126.9M | $8.1M | ||
| Q2 25 | $127.4M | $9.1M | ||
| Q1 25 | $133.9M | $5.9M | ||
| Q4 24 | $214.2M | $12.4M | ||
| Q3 24 | $853.6M | $10.1M | ||
| Q2 24 | $958.8M | $9.3M | ||
| Q1 24 | $199.7M | $7.5M |
| Q4 25 | — | $185.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $202.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.6B | $-18.2M | ||
| Q3 25 | $2.2B | $-12.1M | ||
| Q2 25 | $2.3B | $-7.7M | ||
| Q1 25 | $2.4B | $-8.1M | ||
| Q4 24 | $2.5B | $-4.4M | ||
| Q3 24 | $2.6B | $1.6M | ||
| Q2 24 | $2.7B | $6.5M | ||
| Q1 24 | — | $18.0M |
| Q4 25 | $2.9B | $434.9M | ||
| Q3 25 | $2.6B | $435.2M | ||
| Q2 25 | $2.7B | $438.1M | ||
| Q1 25 | $2.8B | $441.0M | ||
| Q4 24 | $3.0B | $471.0M | ||
| Q3 24 | $3.1B | $495.7M | ||
| Q2 24 | $3.3B | $494.9M | ||
| Q1 24 | — | $494.9M |
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 | $4.3M |
| Free Cash FlowOCF − Capex | $-63.9M | $4.1M |
| FCF MarginFCF / Revenue | -146.5% | 8.2% |
| Capex IntensityCapex / Revenue | 0.2% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-299.9M | $-2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-63.8M | $4.3M | ||
| Q3 25 | $-63.2M | $295.0K | ||
| Q2 25 | $-77.0M | $1.6M | ||
| Q1 25 | $-95.0M | $-7.7M | ||
| Q4 24 | — | $8.0M | ||
| Q3 24 | $-104.6M | $1.3M | ||
| Q2 24 | $-171.8M | $-10.4M | ||
| Q1 24 | $-207.3M | $-2.8M |
| Q4 25 | $-63.9M | $4.1M | ||
| Q3 25 | $-63.6M | $-246.0K | ||
| Q2 25 | $-77.3M | $1.2M | ||
| Q1 25 | $-95.1M | $-8.0M | ||
| Q4 24 | — | $7.0M | ||
| Q3 24 | $-105.6M | $-1.1M | ||
| Q2 24 | $-173.2M | $-10.6M | ||
| Q1 24 | $-209.8M | $-4.7M |
| Q4 25 | -146.5% | 8.2% | ||
| Q3 25 | -175.8% | -0.5% | ||
| Q2 25 | -217.6% | 1.9% | ||
| Q1 25 | -298.6% | -19.8% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | -368.4% | -1.8% | ||
| Q2 24 | -541.7% | -22.7% | ||
| Q1 24 | -785.3% | -10.4% |
| Q4 25 | 0.2% | 0.3% | ||
| Q3 25 | 1.1% | 1.0% | ||
| Q2 25 | 1.0% | 0.6% | ||
| Q1 25 | 0.2% | 0.6% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | 3.4% | 4.0% | ||
| Q2 24 | 4.3% | 0.5% | ||
| Q1 24 | 9.5% | 4.3% |
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% |
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
