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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
GRAIL, Inc. is the larger business by last-quarter revenue ($43.6M vs $36.5M, roughly 1.2× SmartRent, Inc.). SmartRent, Inc. runs the higher net margin — -8.9% vs -227.5%, a 218.6% gap on every dollar of revenue. On growth, GRAIL, Inc. posted the faster year-over-year revenue change (14.0% vs 3.1%). SmartRent, Inc. produced more free cash flow last quarter ($7.7M vs $-63.9M). Over the past eight quarters, GRAIL, Inc.'s revenue compounded faster (27.7% CAGR vs -15.0%).
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.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
GRAL vs SMRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $36.5M |
| Net Profit | $-99.2M | $-3.2M |
| Gross Margin | — | 38.6% |
| Operating Margin | -285.4% | -10.9% |
| Net Margin | -227.5% | -8.9% |
| Revenue YoY | 14.0% | 3.1% |
| Net Profit YoY | -2.2% | 71.6% |
| EPS (diluted) | $-2.37 | $-0.02 |
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 | $36.5M | ||
| Q3 25 | $36.2M | $36.2M | ||
| Q2 25 | $35.5M | $38.3M | ||
| Q1 25 | $31.8M | $41.3M | ||
| Q4 24 | $38.3M | $35.4M | ||
| Q3 24 | $28.7M | $40.5M | ||
| Q2 24 | $32.0M | $48.5M | ||
| Q1 24 | $26.7M | $50.5M |
| Q4 25 | $-99.2M | $-3.2M | ||
| Q3 25 | $-89.0M | $-6.3M | ||
| Q2 25 | $-114.0M | $-10.9M | ||
| Q1 25 | $-106.2M | $-40.2M | ||
| Q4 24 | $-97.1M | $-11.4M | ||
| Q3 24 | $-125.7M | $-9.9M | ||
| Q2 24 | $-1.6B | $-4.6M | ||
| Q1 24 | $-218.9M | $-7.7M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 38.5% |
| Q4 25 | -285.4% | -10.9% | ||
| Q3 25 | -346.2% | -19.4% | ||
| Q2 25 | -446.9% | -30.5% | ||
| Q1 25 | -482.5% | -99.9% | ||
| Q4 24 | -358.0% | -36.6% | ||
| Q3 24 | -640.5% | -29.0% | ||
| Q2 24 | -5133.8% | -14.3% | ||
| Q1 24 | -851.1% | -20.1% |
| Q4 25 | -227.5% | -8.9% | ||
| Q3 25 | -245.8% | -17.3% | ||
| Q2 25 | -320.7% | -28.3% | ||
| Q1 25 | -333.6% | -97.2% | ||
| Q4 24 | -253.8% | -32.3% | ||
| Q3 24 | -438.7% | -24.5% | ||
| Q2 24 | -4958.8% | -9.5% | ||
| Q1 24 | -819.3% | -15.2% |
| Q4 25 | $-2.37 | $-0.02 | ||
| Q3 25 | $-2.46 | $-0.03 | ||
| Q2 25 | $-3.18 | $-0.06 | ||
| Q1 25 | $-3.10 | $-0.21 | ||
| Q4 24 | $-1.49 | $-0.06 | ||
| Q3 24 | $-3.94 | $-0.05 | ||
| Q2 24 | $-51.06 | $-0.02 | ||
| Q1 24 | $-7.05 | $-0.04 |
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 | $104.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $232.1M |
| Total Assets | $2.9B | $320.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $249.7M | $104.5M | ||
| Q3 25 | $126.9M | $100.0M | ||
| Q2 25 | $127.4M | $105.0M | ||
| Q1 25 | $133.9M | $125.6M | ||
| Q4 24 | $214.2M | $142.5M | ||
| Q3 24 | $853.6M | $163.4M | ||
| Q2 24 | $958.8M | $187.4M | ||
| Q1 24 | $199.7M | $204.7M |
| Q4 25 | $2.6B | $232.1M | ||
| Q3 25 | $2.2B | $234.4M | ||
| Q2 25 | $2.3B | $238.8M | ||
| Q1 25 | $2.4B | $250.7M | ||
| Q4 24 | $2.5B | $289.4M | ||
| Q3 24 | $2.6B | $305.1M | ||
| Q2 24 | $2.7B | $329.4M | ||
| Q1 24 | — | $333.1M |
| Q4 25 | $2.9B | $320.9M | ||
| Q3 25 | $2.6B | $335.8M | ||
| Q2 25 | $2.7B | $354.0M | ||
| Q1 25 | $2.8B | $366.1M | ||
| Q4 24 | $3.0B | $420.2M | ||
| Q3 24 | $3.1B | $448.6M | ||
| Q2 24 | $3.3B | $475.3M | ||
| Q1 24 | — | $485.5M |
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 | $7.7M |
| Free Cash FlowOCF − Capex | $-63.9M | $7.7M |
| FCF MarginFCF / Revenue | -146.5% | 21.0% |
| Capex IntensityCapex / Revenue | 0.2% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-299.9M | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-63.8M | $7.7M | ||
| Q3 25 | $-63.2M | $-2.1M | ||
| Q2 25 | $-77.0M | $-14.9M | ||
| Q1 25 | $-95.0M | $-12.2M | ||
| Q4 24 | — | $-12.0M | ||
| Q3 24 | $-104.6M | $-3.7M | ||
| Q2 24 | $-171.8M | $-13.9M | ||
| Q1 24 | $-207.3M | $-3.3M |
| Q4 25 | $-63.9M | $7.7M | ||
| Q3 25 | $-63.6M | $-2.2M | ||
| Q2 25 | $-77.3M | $-16.2M | ||
| Q1 25 | $-95.1M | $-14.3M | ||
| Q4 24 | — | $-13.3M | ||
| Q3 24 | $-105.6M | $-3.9M | ||
| Q2 24 | $-173.2M | $-14.1M | ||
| Q1 24 | $-209.8M | $-3.4M |
| Q4 25 | -146.5% | 21.0% | ||
| Q3 25 | -175.8% | -6.1% | ||
| Q2 25 | -217.6% | -42.3% | ||
| Q1 25 | -298.6% | -34.7% | ||
| Q4 24 | — | -37.5% | ||
| Q3 24 | -368.4% | -9.7% | ||
| Q2 24 | -541.7% | -29.1% | ||
| Q1 24 | -785.3% | -6.7% |
| Q4 25 | 0.2% | 0.0% | ||
| Q3 25 | 1.1% | 0.2% | ||
| Q2 25 | 1.0% | 3.3% | ||
| Q1 25 | 0.2% | 5.3% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | 3.4% | 0.6% | ||
| Q2 24 | 4.3% | 0.5% | ||
| Q1 24 | 9.5% | 0.1% |
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% |
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
