GRAIL, LLC (GRAL) financial statements
GRAIL, LLC reported revenue of $147M in fiscal 2025, up 38.4% a year over 3 years.
Net income was -$408M and the operating margin -382.0%, against -9798.2% in 2022.
Free cash flow was -$300M.
The diluted share count rose 18% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from GRAIL, LLC's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $56M | $93M | $126M | $147M |
| Research and development | $330M | $339M | $322M | $196M |
| Selling, general and admin | $296M | $363M | $368M | $276M |
| Operating income | -$5.4B | -$1.5B | -$2.2B | -$562M |
| Pre-tax income | -$5.4B | -$1.5B | -$2.2B | -$535M |
| Income tax | -$42M | -$42M | -$135M | -$126M |
| Net income | -$5.4B | -$1.5B | -$2.0B | -$408M |
| EPS (diluted) | -$173.89 | -$47.21 | -$63.54 | -$11.11 |
| Diluted shares | 31M | 31M | 32M | 37M |
| Operating margin | -9798.2% | -1627.6% | -1743.0% | -382.0% |
| Net margin | -9719.3% | -1574.2% | -1613.9% | -277.5% |
Balance sheet
Fiscal years, from GRAIL, LLC's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | $242M | $97M | $761M | $902M |
| Receivables | — | $17M | $20M | $18M |
| Total current assets | — | $156M | $820M | $954M |
| Property, plant and equipment | — | $85M | $69M | $52M |
| Goodwill | $1.5B | $889M | $0 | — |
| Total assets | — | $3.9B | $3.0B | $2.9B |
| Total current liabilities | — | $164M | $77M | $80M |
| Total liabilities | — | $268M | $480M | $344M |
| Shareholders' equity | — | — | $2.5B | $2.6B |
| Net debt | -$242M | -$97M | -$214M | -$250M |
Cash flow
Fiscal years, from GRAIL, LLC's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | -$561M | -$596M | -$577M | -$299M |
| Capital spending | $23M | $13M | $5M | $909,000 |
| Free cash flow | -$584M | -$609M | -$582M | -$300M |
| Stock-based compensation | $76M | $97M | $86M | $58M |
| Free cash flow margin | -1051.6% | -653.8% | -463.7% | -203.8% |
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Open GRAL in InvestinglyQuestions
What was GRAIL, LLC's revenue in 2025?
$147M in fiscal 2025, from its 10-K filing.
How much free cash flow does GRAIL, LLC generate?
-$300M in fiscal 2025 (operating cash flow minus capital spending).
From GRAIL, LLC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.