GRAIL Inc
For the period ended Dec 31, 2024. Filed Mar 5, 2025.
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FY2024 · Filed Mar 5, 2025
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Consolidated Statements of Operations
(Amounts in thousands, except per share data)
| Year Ended | |||
|---|---|---|---|
| December 31,2024 | December 31,2023 | January 1,2023 | |
| Revenue: | |||
| Screening revenue(1) | $108,627 | $74,999 | $39,817 |
| Development services revenue | 16,968 | 18,106 | 15,733 |
| Total revenue | 125,595 | 93,105 | 55,550 |
| Costs and operating expenses: | |||
| Cost of screening revenue (exclusive of amortization of intangible assets)(2) | 63,284 | 47,966 | 32,140 |
| Cost of development services revenue(3) | 6,444 | 6,861 | 5,968 |
| Cost of revenue — amortization of intangible assets | 133,889 | 133,889 | 133,889 |
| Research and development(4) | 322,380 | 338,745 | 329,576 |
| Sales and marketing | 153,958 | 162,292 | 122,328 |
| General and administrative(5) | 213,862 | 200,268 | 174,108 |
| Goodwill and intangible assets impairment | 1,420,936 | 718,466 | 4,700,431 |
| Total costs and operating expenses | 2,314,753 | 1,608,487 | 5,498,440 |
| Loss from operations | (2,189,158) | (1,515,382) | (5,442,890) |
| Other income: | |||
| Interest income | 26,733 | 7,954 | 1,740 |
| Other income (expense), net | 64 | (208) | (238) |
| Total other income, net | 26,797 | 7,746 | 1,502 |
| Loss before income taxes | (2,162,361) | (1,507,636) | (5,441,388) |
| Benefit from income taxes | 135,356 | 41,951 | 42,290 |
| Net loss | $(2,027,005) | $(1,465,685) | $(5,399,098) |
| Net loss per share — Basic and Diluted | $(63.54) | $(47.21) | $(173.89) |
| Weighted-average shares of common stock used in computing net loss per share: | 31,901,259 | 31,049,148 | 31,049,148 |
(1) Includes related party screening revenue of $460, $652 and $694, respectively.
(2) Includes related party cost of screening revenue of $13,091, $8,532 and $4,142, respectively.
(3) Includes related party cost of development services revenue of $637, $238 and $227, respectively.
(4) Includes related party research and development expenses of $18,843, $19,508 and $18,780, respectively.
(5) Includes related party general and administrative expenses of $104, $206 and $614, respectively.
See accompanying notes to consolidated financial statements
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