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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and SolarMax Technology, Inc. (SMXT). Click either name above to swap in a different company.
SolarMax Technology, Inc. is the larger business by last-quarter revenue ($46.6M vs $43.6M, roughly 1.1× GRAIL, Inc.). SolarMax Technology, Inc. runs the higher net margin — -1.9% vs -227.5%, a 225.6% gap on every dollar of revenue. On growth, SolarMax Technology, Inc. posted the faster year-over-year revenue change (623.5% vs 14.0%).
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.
SolarMax Technology, Inc. develops, manufactures and sells high-efficiency solar PV modules and clean energy systems. It serves residential, commercial and industrial clients in North America and key Asia-Pacific markets, offering installation and after-sales support to boost low-carbon energy use.
GRAL vs SMXT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $46.6M |
| Net Profit | $-99.2M | $-872.2K |
| Gross Margin | — | 2.7% |
| Operating Margin | -285.4% | -2.7% |
| Net Margin | -227.5% | -1.9% |
| Revenue YoY | 14.0% | 623.5% |
| Net Profit YoY | -2.2% | 77.7% |
| 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 | $46.6M | ||
| Q3 25 | $36.2M | $30.6M | ||
| Q2 25 | $35.5M | $6.9M | ||
| Q1 25 | $31.8M | $6.9M | ||
| Q4 24 | $38.3M | $6.4M | ||
| Q3 24 | $28.7M | $6.3M | ||
| Q2 24 | $32.0M | — | ||
| Q1 24 | $26.7M | — |
| Q4 25 | $-99.2M | $-872.2K | ||
| Q3 25 | $-89.0M | $-2.3M | ||
| Q2 25 | $-114.0M | $-1.9M | ||
| Q1 25 | $-106.2M | $-1.3M | ||
| Q4 24 | $-97.1M | $-3.9M | ||
| Q3 24 | $-125.7M | $-9.6M | ||
| Q2 24 | $-1.6B | — | ||
| Q1 24 | $-218.9M | — |
| Q4 25 | — | 2.7% | ||
| Q3 25 | — | 3.1% | ||
| Q2 25 | — | 8.8% | ||
| Q1 25 | — | 20.5% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -285.4% | -2.7% | ||
| Q3 25 | -346.2% | -6.9% | ||
| Q2 25 | -446.9% | -25.7% | ||
| Q1 25 | -482.5% | -16.7% | ||
| Q4 24 | -358.0% | -27.9% | ||
| Q3 24 | -640.5% | -158.4% | ||
| Q2 24 | -5133.8% | — | ||
| Q1 24 | -851.1% | — |
| Q4 25 | -227.5% | -1.9% | ||
| Q3 25 | -245.8% | -7.4% | ||
| Q2 25 | -320.7% | -27.6% | ||
| Q1 25 | -333.6% | -18.7% | ||
| Q4 24 | -253.8% | -60.6% | ||
| Q3 24 | -438.7% | -152.0% | ||
| Q2 24 | -4958.8% | — | ||
| Q1 24 | -819.3% | — |
| Q4 25 | $-2.37 | $-0.02 | ||
| Q3 25 | $-2.46 | $-0.04 | ||
| Q2 25 | $-3.18 | $-0.04 | ||
| Q1 25 | $-3.10 | $-0.03 | ||
| Q4 24 | $-1.49 | $-0.07 | ||
| Q3 24 | $-3.94 | $-0.21 | ||
| Q2 24 | $-51.06 | — | ||
| Q1 24 | $-7.05 | — |
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 | $8.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $-12.2M |
| Total Assets | $2.9B | $91.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $249.7M | $8.0M | ||
| Q3 25 | $126.9M | $5.7M | ||
| Q2 25 | $127.4M | $1.9M | ||
| Q1 25 | $133.9M | $6.8M | ||
| Q4 24 | $214.2M | $7.1M | ||
| Q3 24 | $853.6M | $8.6M | ||
| Q2 24 | $958.8M | — | ||
| Q1 24 | $199.7M | — |
| Q4 25 | $2.6B | $-12.2M | ||
| Q3 25 | $2.2B | $-11.8M | ||
| Q2 25 | $2.3B | $-15.1M | ||
| Q1 25 | $2.4B | $-15.9M | ||
| Q4 24 | $2.5B | $-15.1M | ||
| Q3 24 | $2.6B | $-10.9M | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.9B | $91.3M | ||
| Q3 25 | $2.6B | $58.7M | ||
| Q2 25 | $2.7B | $38.2M | ||
| Q1 25 | $2.8B | $38.6M | ||
| Q4 24 | $3.0B | $38.6M | ||
| Q3 24 | $3.1B | $43.0M | ||
| Q2 24 | $3.3B | — | ||
| Q1 24 | — | — |
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 | $-2.5M |
| 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.
| Q4 25 | $-63.8M | $-2.5M | ||
| Q3 25 | $-63.2M | $3.4M | ||
| Q2 25 | $-77.0M | $220.7K | ||
| Q1 25 | $-95.0M | $-601.1K | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | $-104.6M | $203.6K | ||
| Q2 24 | $-171.8M | — | ||
| Q1 24 | $-207.3M | — |
| 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 24 | $-209.8M | — |
| 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 24 | -785.3% | — |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.4% | 0.0% | ||
| Q2 24 | 4.3% | — | ||
| Q1 24 | 9.5% | — |
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% |
SMXT
| Yabucoa | $35.9M | 77% |
| Other | $10.7M | 23% |
