NASDAQ : GRAL
GRAIL, Inc. — Financial statements
Healthcare · Diagnostics & Research · United States
Last price 143.43 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 6.41B
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Financial statements
GRAIL, Inc. (GRAL) reported revenue of 165.26M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 165.26M | 147.17M | 125.59M | 93.11M | 55.55M | 14.61M |
| Cost of Revenue | 83.12M | 75.86M | 69.73M | 54.83M | 38.11M | 11.54M |
| Gross Profit | 82.15M | 71.32M | 55.87M | 38.28M | 17.44M | 3.08M |
| Selling, General & Admin | 291.19M | 275.89M | 336.43M | 345.24M | 296.44M | 234.06M |
| Research & Development | 190.93M | 195.73M | 313.30M | 338.75M | 329.58M | 282.51M |
| Amortization of Goodwill & Intangibles | 133.89M | 133.89M | 133.89M | 133.89M | 133.89M | 44.63M |
| Operating Expenses | 616.01M | 605.51M | 783.62M | 817.87M | 759.90M | 561.20M |
| Operating Income | -533.86M | -534.20M | -727.75M | -779.60M | -742.46M | -558.12M |
| Interest & Investment Income | 29.28M | 28.65M | 26.73M | 7.95M | 1.74M | 332.00K |
| Currency Exchange Gain (Loss) | 1.50M | 64.00K | -242.00K | |||
| Other Non Operating Income (Expenses) | -993.00K | -993.00K | -208.00K | -238.00K | ||
| EBT Excluding Unusual Items | -504.08M | -506.54M | -700.95M | -771.85M | -740.96M | -558.03M |
| Merger & Restructuring Charges | 34.00K | 34.00K | -40.47M | -17.32M | -707.22M | |
| Impairment of Goodwill | -888.94M | -608.47M | -4.70B | |||
| Asset Writedown | -25.42M | -28.00M | -532.00M | -110.00M | ||
| Pretax Income | -529.47M | -534.50M | -2.16B | -1.51B | -5.44B | -1.27B |
| Income Tax Expense | -137.88M | -126.15M | -135.36M | -41.95M | -42.29M | -17.48M |
| Net Income | -391.59M | -408.35M | -2.03B | -1.47B | -5.40B | -1.25B |
| Net Income to Common | -391.59M | -408.35M | -2.03B | -1.47B | -5.40B | -1.25B |
| Shares Outstanding (Basic) | 40.17M | 36.75M | 31.90M | 31.05M | 31.05M | |
| Shares Outstanding (Diluted) | 40.17M | 36.75M | 31.90M | 31.05M | 31.05M | |
| EPS (Basic) | -9.75 | -11.11 | -63.54 | -47.21 | -173.89 | |
| EPS (Diluted) | -9.75 | -11.11 | -63.54 | -47.21 | -173.89 | |
| Free Cash Flow | -296.16M | -299.92M | -582.36M | -608.69M | -584.17M | -758.06M |
| Free Cash Flow Per Share | -7.37 | -8.16 | -18.25 | -19.60 | -18.81 | |
| Gross Margin | 49.71% | 48.46% | 44.48% | 41.11% | 31.40% | 21.05% |
| Operating Margin | -323.04% | -362.98% | -579.44% | -837.33% | -1,336.56% | -3,819.61% |
| Profit Margin | -236.95% | -277.46% | -1,613.92% | -1,574.23% | -9,719.35% | -8,539.39% |
| Free Cash Flow Margin | -179.21% | -203.79% | -463.68% | -653.76% | -1,051.62% | -5,187.90% |
| EBITDA | -378.49M | -377.85M | -569.70M | -620.90M | -587.70M | -499.67M |
| EBITDA Margin | -229.02% | -256.74% | ||||
| D&A For EBITDA | 155.37M | 156.34M | 158.06M | 158.70M | 154.76M | 58.45M |
| EBIT | -533.86M | -534.20M | -727.75M | -779.60M | -742.46M | -558.12M |
| Revenue as Reported | 165.26M | 147.17M | 125.59M | 93.11M | 55.55M | 14.61M |
| Advertising Expenses | 15.10M | 17.70M | 21.90M | 24.50M | 7.60M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 55.65M | 249.73M | 214.23M | 97.29M | 241.60M | 221.16M |
| Short-Term Investments | 805.96M | 654.70M | 549.24M | |||
| Cash & Short-Term Investments | 861.61M | 904.43M | 763.47M | 97.29M | 241.60M | 221.16M |
| Accounts Receivable | 19.76M | 18.30M | 20.31M | 16.94M | 15.56M | 6.88M |
| Other Receivables | 6.79M | 4.14M | 1.22M | |||
| Receivables | 19.76M | 18.30M | 20.31M | 23.74M | 19.70M | 8.10M |
| Prepaid Expenses | 15.59M | 15.11M | 17.45M | 13.35M | 14.59M | 7.80M |
| Other Current Assets | 17.76M | 16.02M | 18.63M | 21.70M | 19.75M | 5.67M |
| Total Current Assets | 914.72M | 953.85M | 819.86M | 156.06M | 295.63M | 242.73M |
| Property, Plant & Equipment | 133.25M | 103.88M | 135.43M | 169.38M | 198.72M | 216.37M |
| Goodwill | 888.94M | 1.50B | 6.20B | |||
| Other Intangible Assets | 1.78B | 1.85B | 2.02B | 2.69B | 2.94B | 3.07B |
| Other Long-Term Assets | 14.32M | 13.73M | 11.12M | 12.21M | 10.67M | 7.10M |
| Total Assets | 2.84B | 2.92B | 2.98B | 3.91B | 4.94B | 9.74B |
| Accounts Payable | 7.24M | 2.08M | 4.84M | 19.67M | 17.48M | 17.65M |
| Accrued Expenses | 64.50M | 63.95M | 57.24M | 128.32M | 101.01M | 61.92M |
| Current Portion of Leases | 10.70M | 11.71M | 13.26M | 14.81M | 13.34M | 13.81M |
| Current Unearned Revenue | 1.11M | 1.93M | 1.58M | 809.00K | 600.00K | 1.80M |
| Other Current Liabilities | 2.51M | 2.71M | ||||
| Total Current Liabilities | 83.54M | 79.67M | 76.92M | 163.61M | 134.94M | 97.89M |
| Long-Term Leases | 80.61M | 43.15M | 54.88M | 69.60M | 82.67M | 96.75M |
| Long-Term Deferred Tax Liabilities | 133.71M | 218.58M | 345.86M | 32.92M | 71.08M | 110.14M |
| Other Long-Term Liabilities | 3.17M | 2.75M | 2.24M | 1.50M | 3.13M | 2.62M |
| Total Liabilities | 301.03M | 344.15M | 479.90M | 267.63M | 291.82M | 307.40M |
| Common Stock | 45.00K | 40.00K | 34.00K | 11.42B | 10.96B | 10.34B |
| Additional Paid-In Capital | 12.96B | 12.79B | 12.31B | |||
| Retained Earnings | -10.42B | -10.21B | -9.80B | -7.78B | -6.31B | -911.54M |
| Comprehensive Income & Other | 1.84M | 2.65M | 1.45M | 1.07M | 894.00K | 315.00K |
| Total Common Equity | 2.54B | 2.58B | 2.50B | 3.65B | 4.65B | 9.43B |
| Shareholders' Equity | 2.54B | 2.58B | 2.50B | 3.65B | 4.65B | 9.43B |
| Total Liabilities & Equity | 2.84B | 2.92B | 2.98B | 3.91B | 4.94B | 9.74B |
| Total Debt | 91.31M | 54.86M | 68.14M | 84.41M | 96.01M | 110.56M |
| Net Cash (Debt) | 770.30M | 849.57M | 695.33M | 12.88M | 145.59M | 110.60M |
| Net Cash Per Share | 19.18 | 23.12 | 21.80 | 0.41 | 4.69 | |
| Filing Date Shares Outstanding | 44.67M | 41.02M | 33.90M | 31.05M | 31.05M | |
| Total Common Shares Outstanding | 44.67M | 40.33M | 33.89M | 31.05M | 31.05M | |
| Working Capital | 831.18M | 874.18M | 742.94M | -7.54M | 160.69M | 144.85M |
| Book Value Per Share | 56.93 | 63.92 | 73.86 | 117.43 | ||
| Tangible Book Value | 761.26M | 727.31M | 486.51M | 70.03M | 213.20M | 158.80M |
| Tangible Book Value Per Share | 17.04 | 18.03 | 14.35 | 2.26 | ||
| Machinery | 60.62M | 60.81M | 53.81M | 46.71M | 18.20M | |
| Construction In Progress | 804.00K | 1.30M | 7.97M | 10.65M | 23.70M | |
| Leasehold Improvements | 59.77M | 59.76M | 58.44M | 55.41M | 55.21M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -391.59M | -408.35M | -2.03B | -1.47B | -5.40B | -1.25B |
| Depreciation & Amortization | 155.37M | 156.34M | 158.06M | 158.70M | 154.76M | 58.45M |
| Asset Writedown & Restructuring Costs | 25.42M | 28.00M | 1.42B | 718.47M | 4.70B | |
| Loss (Gain) From Sale of Investments | -22.18M | -21.22M | -3.17M | 498.00K | ||
| Stock-Based Compensation | 64.25M | 58.28M | 86.08M | 97.23M | 75.73M | 496.94M |
| Provision & Write-off of Bad Debts | 551.00K | 332.00K | ||||
| Other Operating Activities | -138.31M | -124.81M | -187.78M | -112.23M | -78.67M | -17.83M |
| Change in Accounts Receivable | -4.00M | 1.69M | -3.37M | -1.38M | -8.68M | -6.88M |
| Change in Inventory | 1.77M | 2.62M | 3.07M | -1.94M | -14.08M | -5.67M |
| Change in Accounts Payable | 1.05M | -2.73M | -14.63M | 2.89M | 2.34M | 1.30M |
| Change in Other Net Operating Assets | 12.90M | 10.84M | -9.35M | 8.15M | 5.95M | 32.85M |
| Operating Cash Flow | -294.75M | -299.01M | -577.16M | -595.80M | -561.31M | -688.13M |
| Capital Expenditures | -1.41M | -909.00K | -5.21M | -12.89M | -22.86M | -69.93M |
| Investment in Securities | -308.63M | -84.14M | -545.80M | 414.74M | ||
| Investing Cash Flow | -310.04M | -85.05M | -551.01M | -12.89M | -22.86M | 344.81M |
| Short-Term Debt Issued | 1.24B | 464.00M | 609.00M | 1.02B | ||
| Total Debt Issued | 1.24B | 464.00M | 609.00M | 1.02B | ||
| Net Debt Issued (Repaid) | 1.24B | 464.00M | 609.00M | 1.02B | ||
| Issuance of Common Stock | 536.93M | 423.32M | 5.98M | |||
| Repurchase of Common Stock | -4.18M | -4.32M | ||||
| Other Financing Activities | -234.00K | -625.92M | ||||
| Financing Cash Flow | 536.93M | 423.32M | 1.24B | 463.77M | 604.82M | 394.74M |
| Foreign Exchange Rate Adjustments | -297.00K | -147.00K | -62.00K | 305.00K | -511.00K | -199.00K |
| Net Cash Flow | -68.16M | 39.12M | 116.07M | -144.62M | 20.13M | 51.23M |
| Free Cash Flow | -296.16M | -299.92M | -582.36M | -608.69M | -584.17M | -758.06M |
| Free Cash Flow Margin | -179.21% | -203.79% | -463.68% | -653.76% | -1,051.62% | -5,187.90% |
| Free Cash Flow Per Share | -7.37 | -8.16 | -18.25 | -19.60 | -18.81 | |
| Levered Free Cash Flow | -103.58M | -108.89M | -298.66M | -221.75M | -251.33M | 318.03M |
| Unlevered Free Cash Flow | -103.58M | -108.89M | -298.66M | -221.75M | -251.33M | 318.03M |
| Change in Working Capital | 11.73M | 12.41M | -24.28M | 7.72M | -14.46M | 21.59M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.97B | 3.34B | 599.77M | |||
| Enterprise Value | 5.20B | 2.85B | -181.59M | |||
| Last Close Price | 143.43 | 85.59 | 17.85 | |||
| PS Ratio | 36.15 | 22.67 | 4.78 | |||
| PB Ratio | 2.52 | 1.29 | 0.24 | |||
| P/TBV Ratio | 7.85 | 4.59 | 1.23 | |||
| EV/Sales Ratio | 31.49 | 19.40 | ||||
| Debt / Equity Ratio | 0.04 | 0.02 | 0.03 | 0.02 | 0.02 | 0.01 |
| Net Debt / Equity Ratio | -0.30 | -0.33 | -0.28 | -0.00 | -0.03 | -0.01 |
| Net Debt / EBITDA Ratio | 2.04 | 2.25 | 1.22 | 0.02 | 0.25 | 0.22 |
| Net Debt / FCF Ratio | 2.60 | 2.83 | 1.19 | 0.02 | 0.25 | 0.15 |
| Asset Turnover | 0.06 | 0.05 | 0.04 | 0.02 | 0.01 | 0.00 |
| Quick Ratio | 10.55 | 11.58 | 10.19 | 0.74 | 1.94 | 2.34 |
| Current Ratio | 10.95 | 11.97 | 10.66 | 0.95 | 2.19 | 2.48 |
| Return on Equity (ROE) | -16.12% | -16.07% | -65.92% | -35.35% | -76.71% | -24.97% |
| Return on Assets (ROA) | -12.03% | -11.31% | -13.19% | -11.01% | -6.32% | -6.68% |
| Return on Capital Employed (ROCE) | -19.30% | -18.80% | -25.00% | -20.80% | -15.50% | -5.80% |
| Earnings Yield | -7.29% | -12.24% | -337.96% | |||
| FCF Yield | -4.96% | -8.99% | -97.10% | |||
| Buyback Yield / Dilution | -18.48% | -15.21% | -2.74% |