GRAIL Inc. (GRAL) income statement
NASDAQ · Healthcare · Medical - Diagnostics & Research · 910 employees · CEO Joshua J. Ofman
- Price
- $143.43 -9.75%
- Market cap
- $6.41B
- Enterprise value
- $6.44B
- Last report
- Q2 '26 filed 2026-08-06
- Next report
- 2026-11-04 EPS est. -$2.45
GRAIL Inc. (GRAL) reported revenue of $44.7M for Q2 '26 (+25.7% year on year), operating income of -$174M (-388.9% of revenue) and net income of -$110M. Over the last four quarters revenue was $165M.
Income statement
| Income statement | Trend | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.7M | $30.3M | $26.7M | $32M | $28.7M | $38.3M | $31.8M | $35.5M | $36.2M | $43.6M | $40.8M | $44.7M | |
| Cost of revenue | $47.8M | $49M | $48.6M | $49.9M | $50.9M | $54.2M | $51.8M | $53.3M | $49.9M | $54.7M | $21.2M | $57.3M | |
| Gross profit | -$27.1M | -$18.7M | -$21.9M | -$17.9M | -$22.2M | -$16M | -$19.9M | -$17.8M | -$13.7M | -$11.1M | $19.5M | -$12.6M | |
| Research & development | $80.1M | $84.1M | $102M | $94.2M | $78.2M | $48.3M | $53.6M | $46.6M | $48.6M | $46.9M | $48M | $47.4M | |
| Sales & marketing | $36.6M | $39.1M | $46.8M | $41M | $35.6M | $30.5M | $35M | $28.5M | $25.5M | $27.7M | $30.7M | $37.7M | |
| General & administrative | $50.2M | $52.7M | $57.1M | $67.3M | $47.4M | $42.1M | $45.1M | $37.9M | $37.4M | $38.7M | $42.8M | $50.7M | |
| Other operating expenses | $718M | $0 | $0 | $1.42B | $0 | $0 | $0 | $28M | $0 | $0 | $33.8M | $25.4M | |
| Operating expenses | $885M | $176M | $206M | $1.62B | $161M | $121M | $134M | $141M | $112M | $113M | $155M | $161M | |
| Operating income | -$912M | -$195M | -$227M | -$1.64B | -$184M | -$137M | -$154M | -$159M | -$125M | -$124M | -$136M | -$174M | |
| Interest income | $2.53M | $1.35M | $2.9M | $2.81M | $11.7M | $9.37M | $7.78M | $6.81M | $6.11M | $7.96M | $7.99M | $7.23M | |
| Other non-operating income (gains on investments, FX ...) | -$718M | -$1.56M | -$2.94M | -$1.42B | -$11.1M | -$9.94M | -$7.2M | -$28M | -$6.57M | -$7.89M | -$8.24M | -$7.08M | |
| Total non-operating income | $2.33M | $1.56M | $2.94M | $2.81M | $11.1M | $9.94M | $7.2M | $6M | $6.57M | $7.89M | $8.24M | $7.08M | |
| Income before tax | -$910M | -$193M | -$224M | -$1.64B | -$172M | -$127M | -$146M | -$153M | -$119M | -$117M | -$128M | -$167M | |
| Income tax | -$18.6M | -$188M | -$5.57M | -$53.1M | -$46.7M | -$29.9M | -$40.2M | -$38.9M | -$29.7M | -$17.3M | -$34.3M | -$56.5M | |
| Net income | -$891M | -$5.49M | -$219M | -$1.59B | -$126M | -$97.1M | -$106M | -$114M | -$89M | -$99.2M | -$93.2M | -$110M | |
| EPS (basic) | -$28.71 | -$0.18 | -$7.05 | -$51.06 | -$3.94 | -$2.89 | -$3.10 | -$3.18 | -$2.46 | -$2.44 | -$2.29 | -$2.56 | |
| EPS (diluted) | -$28.71 | -$0.18 | -$7.05 | -$51.06 | -$3.94 | -$2.89 | -$3.10 | -$3.18 | -$2.46 | -$2.44 | -$2.29 | -$2.56 | |
| Shares (basic, weighted) | 31.1M | 31.1M | 31.1M | 31M | 31.9M | 31.9M | 34.3M | 35.1M | 36.1M | 40.7M | 40.6M | 43.1M | |
| Shares (diluted, weighted) | 31.1M | 31.1M | 31.1M | 31M | 31.9M | 31.9M | 34.3M | 35.1M | 36.1M | 40.7M | 40.6M | 43.1M | |
| Depreciation & amortization | $39.8M | $39.9M | $40M | $39.4M | $39.2M | $39.4M | $39.3M | $39.2M | $39M | $38.9M | $38.8M | $38.7M | |
| EBITDA | -$154M | -$153M | -$184M | -$181M | -$133M | -$87.6M | -$107M | -$91.7M | -$79.7M | -$77.6M | -$88.7M | -$128M |
| Income statement | Trend | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $14.6M | $55.6M | $93.1M | $126M | $147M | |
| Cost of revenue | $0 | $0 | $0 | $115M | $172M | $189M | $204M | $210M | |
| Gross profit | $0 | $0 | $0 | -$100M | -$116M | -$95.6M | -$78M | -$62.6M | |
| Research & development | $223M | $167M | $193M | $460M | $330M | $339M | $322M | $196M | |
| Sales & marketing | $6.11M | $7.68M | $13.5M | $53.5M | $122M | $162M | $154M | $117M | |
| General & administrative | $58.2M | $80.9M | $110M | $181M | $174M | $200M | $214M | $159M | |
| Other operating expenses | $0 | $0 | $0 | $471M | $4.7B | $718M | $1.42B | $0 | |
| Operating expenses | $287M | $256M | $316M | $1.17B | $5.33B | $1.42B | $2.11B | $472M | |
| Operating income | -$287M | -$256M | -$316M | -$1.27B | -$5.44B | -$1.52B | -$2.19B | -$534M | |
| Interest income | $8.34M | $12.4M | $6.14M | $332K | $1.74M | $7.95M | $26.7M | $28.7M | |
| Other non-operating income (gains on investments, FX ...) | -$4M | -$2.22M | -$120K | -$90K | -$4.7B | -$718M | -$1.42B | $341K | |
| Total non-operating income | $12.3M | $10.6M | $4.29M | $90K | $1.5M | $7.75M | $26.8M | -$341K | |
| Income before tax | -$275M | -$245M | -$312M | -$1.27B | -$5.44B | -$1.51B | -$2.16B | -$535M | |
| Income tax | $485K | -$195K | $33K | -$17.5M | -$42.3M | -$42M | -$135M | -$126M | |
| Net income | -$276M | -$245M | -$312M | -$1.25B | -$5.4B | -$1.47B | -$2.03B | -$408M | |
| EPS (basic) | -$2.42 | -$1.99 | -$2.52 | -$40.18 | -$173.87 | -$47.20 | -$63.54 | -$11.11 | |
| EPS (diluted) | -$2.42 | -$1.99 | -$2.52 | -$40.18 | -$173.87 | -$47.20 | -$63.54 | -$11.11 | |
| Shares (basic, weighted) | 114M | 123M | 124M | 31.1M | 31.1M | 31.1M | 31.9M | 36.8M | |
| Shares (diluted, weighted) | 114M | 123M | 124M | 31.1M | 31.1M | 31.1M | 31.9M | 36.8M | |
| Depreciation & amortization | $14.1M | $10.3M | $7.56M | $58.4M | $155M | $159M | $158M | $156M | |
| EBITDA | -$269M | -$243M | -$309M | -$1.21B | -$588M | -$638M | -$610M | -$378M |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02