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Side-by-side financial comparison of GRAIL, Inc. (GRAL) and TSS, Inc. (TSSI). Click either name above to swap in a different company.
TSS, Inc. is the larger business by last-quarter revenue ($60.9M vs $43.6M, roughly 1.4× GRAIL, Inc.). TSS, Inc. runs the higher net margin — 20.0% vs -227.5%, a 247.4% gap on every dollar of revenue. On growth, TSS, Inc. posted the faster year-over-year revenue change (21.8% vs 14.0%). TSS, Inc. produced more free cash flow last quarter ($15.8M vs $-63.9M). Over the past eight quarters, TSS, Inc.'s revenue compounded faster (95.8% 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.
GRAL vs TSSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.6M | $60.9M |
| Net Profit | $-99.2M | $12.2M |
| Gross Margin | — | 17.6% |
| Operating Margin | -285.4% | 1.5% |
| Net Margin | -227.5% | 20.0% |
| Revenue YoY | 14.0% | 21.8% |
| Net Profit YoY | -2.2% | 535.7% |
| EPS (diluted) | $-2.37 | $0.44 |
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 | $60.9M | ||
| Q3 25 | $36.2M | $41.9M | ||
| Q2 25 | $35.5M | $44.0M | ||
| Q1 25 | $31.8M | $99.0M | ||
| Q4 24 | $38.3M | $50.0M | ||
| Q3 24 | $28.7M | $70.1M | ||
| Q2 24 | $32.0M | $12.2M | ||
| Q1 24 | $26.7M | $15.9M |
| Q4 25 | $-99.2M | $12.2M | ||
| Q3 25 | $-89.0M | $-1.5M | ||
| Q2 25 | $-114.0M | $1.5M | ||
| Q1 25 | $-106.2M | $3.0M | ||
| Q4 24 | $-97.1M | $1.9M | ||
| Q3 24 | $-125.7M | $2.6M | ||
| Q2 24 | $-1.6B | $1.4M | ||
| Q1 24 | $-218.9M | $15.0K |
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 11.1% | ||
| Q2 25 | — | 17.8% | ||
| Q1 25 | — | 9.3% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | — | 11.3% | ||
| Q2 24 | — | 37.3% | ||
| Q1 24 | — | 17.1% |
| Q4 25 | -285.4% | 1.5% | ||
| Q3 25 | -346.2% | -2.2% | ||
| Q2 25 | -446.9% | 5.1% | ||
| Q1 25 | -482.5% | 4.2% | ||
| Q4 24 | -358.0% | 0.0% | ||
| Q3 24 | -640.5% | 5.4% | ||
| Q2 24 | -5133.8% | 14.0% | ||
| Q1 24 | -851.1% | 1.6% |
| Q4 25 | -227.5% | 20.0% | ||
| Q3 25 | -245.8% | -3.6% | ||
| Q2 25 | -320.7% | 3.4% | ||
| Q1 25 | -333.6% | 3.0% | ||
| Q4 24 | -253.8% | 3.8% | ||
| Q3 24 | -438.7% | 3.8% | ||
| Q2 24 | -4958.8% | 11.5% | ||
| Q1 24 | -819.3% | 0.1% |
| Q4 25 | $-2.37 | $0.44 | ||
| Q3 25 | $-2.46 | $-0.06 | ||
| Q2 25 | $-3.18 | $0.06 | ||
| Q1 25 | $-3.10 | $0.12 | ||
| Q4 24 | $-1.49 | $0.08 | ||
| Q3 24 | $-3.94 | $0.10 | ||
| Q2 24 | $-51.06 | $0.06 | ||
| Q1 24 | $-7.05 | $0.00 |
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 | $85.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $76.6M |
| Total Assets | $2.9B | $184.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $249.7M | $85.5M | ||
| Q3 25 | $126.9M | $70.7M | ||
| Q2 25 | $127.4M | — | ||
| Q1 25 | $133.9M | — | ||
| Q4 24 | $214.2M | $23.2M | ||
| Q3 24 | $853.6M | $46.4M | ||
| Q2 24 | $958.8M | $8.3M | ||
| Q1 24 | $199.7M | $14.4M |
| Q4 25 | $2.6B | $76.6M | ||
| Q3 25 | $2.2B | $63.4M | ||
| Q2 25 | $2.3B | $9.5M | ||
| Q1 25 | $2.4B | $9.4M | ||
| Q4 24 | $2.5B | $7.1M | ||
| Q3 24 | $2.6B | $7.7M | ||
| Q2 24 | $2.7B | $5.2M | ||
| Q1 24 | — | $3.7M |
| Q4 25 | $2.9B | $184.9M | ||
| Q3 25 | $2.6B | $165.4M | ||
| Q2 25 | $2.7B | $139.5M | ||
| Q1 25 | $2.8B | $113.5M | ||
| Q4 24 | $3.0B | $96.6M | ||
| Q3 24 | $3.1B | $67.3M | ||
| Q2 24 | $3.3B | $28.9M | ||
| Q1 24 | — | $26.8M |
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 | $16.3M |
| Free Cash FlowOCF − Capex | $-63.9M | $15.8M |
| FCF MarginFCF / Revenue | -146.5% | 25.9% |
| Capex IntensityCapex / Revenue | 0.2% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | $-299.9M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-63.8M | $16.3M | ||
| Q3 25 | $-63.2M | $-18.4M | ||
| Q2 25 | $-77.0M | $16.3M | ||
| Q1 25 | $-95.0M | $20.6M | ||
| Q4 24 | — | $-21.6M | ||
| Q3 24 | $-104.6M | $38.6M | ||
| Q2 24 | $-171.8M | $-4.3M | ||
| Q1 24 | $-207.3M | $2.6M |
| Q4 25 | $-63.9M | $15.8M | ||
| Q3 25 | $-63.6M | $-24.9M | ||
| Q2 25 | $-77.3M | $5.4M | ||
| Q1 25 | $-95.1M | $5.8M | ||
| Q4 24 | — | $-28.4M | ||
| Q3 24 | $-105.6M | $38.6M | ||
| Q2 24 | $-173.2M | $-6.0M | ||
| Q1 24 | $-209.8M | $2.6M |
| Q4 25 | -146.5% | 25.9% | ||
| Q3 25 | -175.8% | -59.3% | ||
| Q2 25 | -217.6% | 12.3% | ||
| Q1 25 | -298.6% | 5.8% | ||
| Q4 24 | — | -56.7% | ||
| Q3 24 | -368.4% | 55.1% | ||
| Q2 24 | -541.7% | -49.4% | ||
| Q1 24 | -785.3% | 16.4% |
| Q4 25 | 0.2% | 0.9% | ||
| Q3 25 | 1.1% | 15.3% | ||
| Q2 25 | 1.0% | 24.8% | ||
| Q1 25 | 0.2% | 15.0% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | 3.4% | 0.1% | ||
| Q2 24 | 4.3% | 13.8% | ||
| Q1 24 | 9.5% | 0.2% |
| Q4 25 | — | 1.34× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 11.02× | ||
| Q1 25 | — | 6.93× | ||
| Q4 24 | — | -11.32× | ||
| Q3 24 | — | 14.60× | ||
| Q2 24 | — | -3.09× | ||
| Q1 24 | — | 176.40× |
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% |
TSSI
| Procurement Revenues Segment | $43.2M | 71% |
| System Integration Services Segment | $14.2M | 23% |
| Facilities Segment | $3.5M | 6% |
