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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and SMARTFINANCIAL INC. (SMBK). Click either name above to swap in a different company.
SMARTFINANCIAL INC. is the larger business by last-quarter revenue ($53.8M vs $43.6M, roughly 1.2× GRAIL, Inc.). SMARTFINANCIAL INC. runs the higher net margin — 25.4% vs -227.5%, a 252.9% gap on every dollar of revenue. Over the past eight quarters, GRAIL, Inc.'s revenue compounded faster (27.7% CAGR vs 15.4%).
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.
SmartFinancial Inc. is a U.S.-based bank holding company that operates its wholly owned subsidiary SmartBank. It offers a full range of retail and commercial banking products including deposit accounts, personal and business loans, mortgage services, and wealth management solutions, primarily serving individual customers and small-to-medium enterprises across the Southeastern United States.
GRAL vs SMBK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $53.8M |
| Net Profit | $-99.2M | $13.7M |
| Gross Margin | — | — |
| Operating Margin | -285.4% | — |
| Net Margin | -227.5% | 25.4% |
| Revenue YoY | 14.0% | — |
| Net Profit YoY | -2.2% | 21.6% |
| EPS (diluted) | $-2.37 | $0.81 |
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 | — | $53.8M | ||
| Q4 25 | $43.6M | $53.3M | ||
| Q3 25 | $36.2M | $51.1M | ||
| Q2 25 | $35.5M | $49.2M | ||
| Q1 25 | $31.8M | $46.8M | ||
| Q4 24 | $38.3M | $46.8M | ||
| Q3 24 | $28.7M | $44.2M | ||
| Q2 24 | $32.0M | $40.4M |
| Q1 26 | — | $13.7M | ||
| Q4 25 | $-99.2M | $13.7M | ||
| Q3 25 | $-89.0M | $13.7M | ||
| Q2 25 | $-114.0M | $11.7M | ||
| Q1 25 | $-106.2M | $11.3M | ||
| Q4 24 | $-97.1M | $9.6M | ||
| Q3 24 | $-125.7M | $9.1M | ||
| Q2 24 | $-1.6B | $8.0M |
| Q1 26 | — | — | ||
| Q4 25 | -285.4% | 31.3% | ||
| Q3 25 | -346.2% | 33.2% | ||
| Q2 25 | -446.9% | 29.0% | ||
| Q1 25 | -482.5% | 29.0% | ||
| Q4 24 | -358.0% | 26.5% | ||
| Q3 24 | -640.5% | 24.3% | ||
| Q2 24 | -5133.8% | 25.6% |
| Q1 26 | — | 25.4% | ||
| Q4 25 | -227.5% | 25.7% | ||
| Q3 25 | -245.8% | 26.8% | ||
| Q2 25 | -320.7% | 23.8% | ||
| Q1 25 | -333.6% | 24.0% | ||
| Q4 24 | -253.8% | 20.6% | ||
| Q3 24 | -438.7% | 20.7% | ||
| Q2 24 | -4958.8% | 19.8% |
| Q1 26 | — | $0.81 | ||
| Q4 25 | $-2.37 | $0.81 | ||
| Q3 25 | $-2.46 | $0.81 | ||
| Q2 25 | $-3.18 | $0.69 | ||
| Q1 25 | $-3.10 | $0.67 | ||
| Q4 24 | $-1.49 | $0.57 | ||
| Q3 24 | $-3.94 | $0.54 | ||
| Q2 24 | $-51.06 | $0.48 |
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 | $346.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $562.2M |
| Total Assets | $2.9B | $5.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $346.1M | ||
| Q4 25 | $249.7M | $464.4M | ||
| Q3 25 | $126.9M | $557.1M | ||
| Q2 25 | $127.4M | $365.1M | ||
| Q1 25 | $133.9M | $423.0M | ||
| Q4 24 | $214.2M | $387.6M | ||
| Q3 24 | $853.6M | $192.9M | ||
| Q2 24 | $958.8M | $342.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.3M | ||
| Q2 25 | — | $7.0M | ||
| Q1 25 | — | $7.6M | ||
| Q4 24 | — | $8.1M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | — | $12.7M |
| Q1 26 | — | $562.2M | ||
| Q4 25 | $2.6B | $552.4M | ||
| Q3 25 | $2.2B | $538.4M | ||
| Q2 25 | $2.3B | $519.0M | ||
| Q1 25 | $2.4B | $505.8M | ||
| Q4 24 | $2.5B | $491.3M | ||
| Q3 24 | $2.6B | $489.0M | ||
| Q2 24 | $2.7B | $472.5M |
| Q1 26 | — | $5.9B | ||
| Q4 25 | $2.9B | $5.9B | ||
| Q3 25 | $2.6B | $5.8B | ||
| Q2 25 | $2.7B | $5.5B | ||
| Q1 25 | $2.8B | $5.4B | ||
| Q4 24 | $3.0B | $5.3B | ||
| Q3 24 | $3.1B | $4.9B | ||
| Q2 24 | $3.3B | $4.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | — | 0.02× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | 0.03× |
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 | $61.7M | ||
| Q3 25 | $-63.2M | $16.9M | ||
| Q2 25 | $-77.0M | $14.0M | ||
| Q1 25 | $-95.0M | $14.3M | ||
| Q4 24 | — | $52.7M | ||
| Q3 24 | $-104.6M | $12.4M | ||
| Q2 24 | $-171.8M | $16.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-63.9M | $59.3M | ||
| Q3 25 | $-63.6M | $16.6M | ||
| Q2 25 | $-77.3M | $13.2M | ||
| Q1 25 | $-95.1M | $13.4M | ||
| Q4 24 | — | $46.3M | ||
| Q3 24 | $-105.6M | $11.3M | ||
| Q2 24 | $-173.2M | $15.4M |
| Q1 26 | — | — | ||
| Q4 25 | -146.5% | 111.3% | ||
| Q3 25 | -175.8% | 32.4% | ||
| Q2 25 | -217.6% | 26.9% | ||
| Q1 25 | -298.6% | 28.5% | ||
| Q4 24 | — | 98.9% | ||
| Q3 24 | -368.4% | 25.7% | ||
| Q2 24 | -541.7% | 38.2% |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 4.5% | ||
| Q3 25 | 1.1% | 0.6% | ||
| Q2 25 | 1.0% | 1.6% | ||
| Q1 25 | 0.2% | 2.0% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | 3.4% | 2.4% | ||
| Q2 24 | 4.3% | 2.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.50× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | — | 5.47× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 2.07× |
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% |
SMBK
| Net Interest Income | $45.9M | 85% |
| Noninterest Income | $7.9M | 15% |
