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MARKETS / NASDAQ / GRAL
NASDAQ · SERVICES-MEDICAL LABORATORIES · SMALL CAP

Grail, Inc. GRAL

4 fiscal years on record · USD · FY2025 reported · SEC filings only
$147.2M
▲ 17.2% YoY
$-408.4M
$-299.9M
In brief

What this company does

GRAIL, Inc. offers Galleri, a multi-cancer early detection test that can screen for many types of cancer and predict the specific organ or tissue type where a cancer signal originated, from a blood draw. Galleri is offered as a laboratory-developed test through the company's CAP-accredited, CLIA-certified laboratory. As of December 31, 2025, the company had approximately 910 full-time employees. The company's headquarters are in Menlo Park, California, with operations in Durham, North Carolina, Washington, D.C., and London, United Kingdom. On June 24, 2024, GRAIL, LLC was converted into a Delaware corporation and renamed GRAIL, Inc. as part of a spin-off in which Illumina distributed 85.5% of GRAIL's common stock to Illumina's stockholders, and GRAIL became an independent, publicly traded company.

Written from the business description in GRAIL, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth
USD 147.2M
Revenue, FY2025 · full 4-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.1 · Net income -0.4
-2B-4B2022202320242025
Compound annual growth
+38.4%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−277 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -382.0% · Net -277.5%
-5000%2022202320242025
ROE
FY2025 · ROE -16.1%
-50%2022202320242025

Each USD of equity lost 16 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -299.9
-250.0M-500.0M2022202320242025

Total assetsUSD 2.9B
EquityUSD 2.6B
CashUSD 249.7M
Current ratio11.97×

Equity funds 88% of total assets.

The 4-year record
4 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 2025202420232022
Revenue $B0.10.10.10.1
Operating income $B−0.6−2.2−1.5−5.4
EBITDA $B−0.5−2.2−1.5−5.4
Income tax $B−0.1−0.1−0.0−0.0
Net income $B−0.4−2.0−1.5−5.4
Free cash flow $B−0.3−0.6−0.6−0.6
EPS, diluted $−11.11−63.54−47.21−173.89
Dividend / sh $····
Payout %····
ROE %−16.1−81.0··
Shares out B·0.030.00·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 14 reconciliationsAUDITED

Reconciled in 4 of 19 fiscal years. 62 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Medical Laboratories
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categoryemerging growth company
Data on record since2022

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