GRAIL, Inc. GRAL
Our mission is to detect cancer early, when it can be cured.
We are an innovative commercial-stage healthcare company focused on shifting the paradigm in early cancer detection at population scale. We believe screening individuals for many types of cancer with a single test represents a significant opportunity to reduce the global burden of cancer. Our multi-cancer early detection test ("Galleri") can screen for many types of cancer, accurately predicting the specific organ or tissue type where the cancer signal originated (the "Cancer Signal of Origin", or "CSO"), with high positive predictive values ("PPV") and low false positive rates, all from a simple blood draw. Galleri has detected some of the most aggressive cancers in early stages including, among others, endometrial, esophageal, gastrointestinal, head and neck, liver, pancreatic, and rectal cancers. We have conducted what we believe is the largest clinical program in genomic medicine to date with data from over 385,000 participants that we believe demonstrate the clinical validation and clinical utility of Galleri in its intended use population. We have deep operational experience with over 800,000 tests processed across this clinical program and from our commercial experience, including through partnerships with leading healthcare systems, employers, digital health platforms, payors, and life insurance providers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $147.2M | $125.6M | $93.1M | $55.5M | — |
| R&D | $195.8M | $322.4M | $338.7M | $329.6M | — |
| SG&A | $159.1M | $213.9M | $200.3M | $174.1M | — |
| Total operating expenses | $709.3M | $2.31B | $1.61B | $5.50B | — |
| Operating income | -$562.2M | -$2.19B | -$1.52B | -$5.44B | — |
| Pre-tax income | -$534.5M | -$2.16B | -$1.51B | -$5.44B | — |
| Income tax | $126.2M | $135.4M | $42.0M | $42.3M | — |
| Net income | -$408.4M | -$2.03B | -$1.47B | -$5.40B | — |
| EPS, basic | -11.11 | -63.54 | -47.21 | -173.89 | — |
| EPS, diluted | -11.11 | -63.54 | -47.21 | -173.89 | — |
| Shares, diluted (wtd. avg.) | 36.8M | 31.9M | 31.0M | 31.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $249.7M | $214.2M | $97.3M | $246.1M | $226.0M |
| Receivables | $18.3M | $20.3M | $16.9M | — | — |
| Total current assets | $953.8M | $819.9M | $156.1M | — | — |
| Property, plant and equipment | $51.8M | $69.1M | $85.0M | — | — |
| Goodwill | — | $0 | $888.9M | $1.50B | $6.20B |
| Other intangibles | $1.85B | $2.02B | $2.69B | — | — |
| Total assets | $2.92B | $2.98B | $3.91B | — | — |
| Accounts payable | $2.1M | $4.8M | $19.7M | — | — |
| Total current liabilities | $79.7M | $76.9M | $163.6M | — | — |
| Total liabilities | $344.2M | $479.9M | $267.6M | — | — |
| Retained earnings | -$10.21B | -$9.80B | -$7.78B | — | — |
| Total equity | $2.58B | $2.50B | — | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$299.0M | -$577.2M | -$595.8M | -$561.3M | — |
| Depreciation and amortisation | $18.0M | $19.7M | $20.4M | $16.4M | — |
| Stock-based compensation | $58.3M | $86.1M | $97.2M | $75.7M | — |
| Capital expenditure | $909.0K | $5.2M | $12.9M | $22.9M | — |
| Investing cash flow | -$85.0M | -$551.0M | -$12.9M | -$22.9M | — |
| Financing cash flow | $423.3M | $1.24B | $463.8M | $604.8M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-017319.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | — | $55.5M | $93.1M | $125.6M | $147.2M |
| Gross profit | — | — | — | — | — |
| Net income | — | -$5.40B | -$1.47B | -$2.03B | -$408.4M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Other event Item 8.01
- Results announced Item 2.02
- Other event Item 8.01
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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