GRAIL, Inc.
For the period ended Dec 31, 2025. Filed Mar 12, 2026.
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FY2025 · Filed Mar 12, 2026
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Consolidated Statements of Operations
(Amounts in thousands, except per share data)
| Year Ended | |||
|---|---|---|---|
| December 31,2025 | December 31,2024 | December 31,2023 | |
| Revenue | |||
| Screening revenue(1) | $138,601 | $108,627 | $74,999 |
| Development services revenue | 8,571 | 16,968 | 18,106 |
| Total revenue | 147,172 | 125,595 | 93,105 |
| Costs and operating expenses | |||
| Cost of screening revenue (exclusive of amortization of intangible assets)(2) | 73,251 | 63,284 | 47,966 |
| Cost of development services revenue(3) | 2,605 | 6,444 | 6,861 |
| Cost of revenue — amortization of intangible assets | 133,889 | 133,889 | 133,889 |
| Research and development(4) | 195,794 | 322,380 | 338,745 |
| Sales and marketing | 116,693 | 153,958 | 162,292 |
| General and administrative(5) | 159,103 | 213,862 | 200,268 |
| Goodwill and intangible assets impairment | 28,000 | 1,420,936 | 718,466 |
| Total costs and operating expenses | 709,335 | 2,314,753 | 1,608,487 |
| Loss from operations | (562,163) | (2,189,158) | (1,515,382) |
| Other income | |||
| Interest income | 28,652 | 26,733 | 7,954 |
| Other income (expense), net | (993) | 64 | (208) |
| Total other income, net | 27,659 | 26,797 | 7,746 |
| Loss before income taxes | (534,504) | (2,162,361) | (1,507,636) |
| Benefit from income taxes | 126,153 | 135,356 | 41,951 |
| Net loss | $(408,351) | $(2,027,005) | $(1,465,685) |
| Net loss per share — Basic and Diluted | $(11.11) | $(63.54) | $(47.21) |
| Weighted-average shares of common stock used in computing net loss per share: | 36,753,751 | 31,901,259 | 31,049,148 |
(1) Includes related party screening revenue of $208, $460 and $652, respectively.
(2) Includes related party cost of screening revenue of $4,617, $13,091 and $8,532, respectively.
(3) Includes related party cost of development services revenue of $275, $637 and $238, respectively.
(4) Includes related party research and development expenses of $3,306, $18,843 and $19,508, respectively.
(5) Includes related party general and administrative expenses ofnil, $104 and $206, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.