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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $43.6M, roughly 1.1× GRAIL, Inc.). STEM, INC. runs the higher net margin — -33.9% vs -227.5%, a 193.6% gap on every dollar of revenue. On growth, GRAIL, Inc. posted the faster year-over-year revenue change (14.0% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs 27.7%).
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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
GRAL vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $47.1M |
| Net Profit | $-99.2M | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | -285.4% | -17.7% |
| Net Margin | -227.5% | -33.9% |
| Revenue YoY | 14.0% | -15.6% |
| Net Profit YoY | -2.2% | 68.8% |
| EPS (diluted) | $-2.37 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $36.2M | $38.2M | ||
| Q2 25 | $35.5M | $38.4M | ||
| Q1 25 | $31.8M | $32.5M | ||
| Q4 24 | $38.3M | $55.8M | ||
| Q3 24 | $28.7M | $29.3M | ||
| Q2 24 | $32.0M | $34.0M | ||
| Q1 24 | $26.7M | $25.5M |
| Q4 25 | $-99.2M | $-16.0M | ||
| Q3 25 | $-89.0M | $-23.8M | ||
| Q2 25 | $-114.0M | $202.5M | ||
| Q1 25 | $-106.2M | $-25.0M | ||
| Q4 24 | $-97.1M | $-51.1M | ||
| Q3 24 | $-125.7M | $-148.3M | ||
| Q2 24 | $-1.6B | $-582.3M | ||
| Q1 24 | $-218.9M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | -285.4% | -17.7% | ||
| Q3 25 | -346.2% | -33.6% | ||
| Q2 25 | -446.9% | -34.8% | ||
| Q1 25 | -482.5% | -65.0% | ||
| Q4 24 | -358.0% | -84.4% | ||
| Q3 24 | -640.5% | -493.2% | ||
| Q2 24 | -5133.8% | -1705.5% | ||
| Q1 24 | -851.1% | -267.0% |
| Q4 25 | -227.5% | -33.9% | ||
| Q3 25 | -245.8% | -62.2% | ||
| Q2 25 | -320.7% | 527.8% | ||
| Q1 25 | -333.6% | -76.9% | ||
| Q4 24 | -253.8% | -91.6% | ||
| Q3 24 | -438.7% | -506.3% | ||
| Q2 24 | -4958.8% | -1712.6% | ||
| Q1 24 | -819.3% | -283.9% |
| Q4 25 | $-2.37 | $-4.40 | ||
| Q3 25 | $-2.46 | $-2.84 | ||
| Q2 25 | $-3.18 | $-1.79 | ||
| Q1 25 | $-3.10 | $-0.15 | ||
| Q4 24 | $-1.49 | $-15.29 | ||
| Q3 24 | $-3.94 | $-18.24 | ||
| Q2 24 | $-51.06 | $-71.81 | ||
| Q1 24 | $-7.05 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $-249.4M |
| Total Assets | $2.9B | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $249.7M | $48.9M | ||
| Q3 25 | $126.9M | $43.1M | ||
| Q2 25 | $127.4M | $40.8M | ||
| Q1 25 | $133.9M | $58.6M | ||
| Q4 24 | $214.2M | $56.3M | ||
| Q3 24 | $853.6M | $75.4M | ||
| Q2 24 | $958.8M | $89.6M | ||
| Q1 24 | $199.7M | $112.8M |
| Q4 25 | $2.6B | $-249.4M | ||
| Q3 25 | $2.2B | $-235.7M | ||
| Q2 25 | $2.3B | $-214.1M | ||
| Q1 25 | $2.4B | $-417.5M | ||
| Q4 24 | $2.5B | $-398.4M | ||
| Q3 24 | $2.6B | $-344.1M | ||
| Q2 24 | $2.7B | $-203.2M | ||
| Q1 24 | — | $371.6M |
| Q4 25 | $2.9B | $308.9M | ||
| Q3 25 | $2.6B | $362.6M | ||
| Q2 25 | $2.7B | $379.2M | ||
| Q1 25 | $2.8B | $405.1M | ||
| Q4 24 | $3.0B | $437.4M | ||
| Q3 24 | $3.1B | $537.8M | ||
| Q2 24 | $3.3B | $691.5M | ||
| Q1 24 | — | $1.3B |
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 | $8.2M |
| 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 | $8.2M | ||
| Q3 25 | $-63.2M | $11.4M | ||
| Q2 25 | $-77.0M | $-21.3M | ||
| Q1 25 | $-95.0M | $8.5M | ||
| Q4 24 | — | $-14.7M | ||
| Q3 24 | $-104.6M | $-9.4M | ||
| Q2 24 | $-171.8M | $-11.9M | ||
| Q1 24 | $-207.3M | $-621.0K |
| 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% | — | ||
| Q2 24 | 4.3% | — | ||
| Q1 24 | 9.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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% |
STEM
Segment breakdown not available.
