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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Item 8. Consolidated Statements of Cash Flows
(Amounts in thousands)
| Year Ended | |||
|---|---|---|---|
| December 31,2024 | December 31,2023 | January 1,2023 | |
| Cash flows from operating activities | |||
| Net loss | $(2,027,005) | $(1,465,685) | $(5,399,098) |
| Adjustments to reconcile net loss to net cash used by operating activities: | |||
| Amortization of intangibles assets | 138,333 | 138,333 | 138,333 |
| Depreciation | 19,723 | 20,364 | 16,430 |
| Stock-based compensation expense | 86,084 | 97,235 | 75,729 |
| Cash payment for equity awards | (53,807) | (76,910) | (41,009) |
| Deferred income taxes | (134,251) | (38,153) | (39,063) |
| Amortization of discount on marketable securities | (3,167) | — | — |
| Goodwill and intangible assets impairment | 1,420,936 | 718,466 | 4,700,431 |
| Other | 276 | 2,829 | 1,398 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable(1) | (3,370) | (1,383) | (8,676) |
| Supplies(2) | 3,073 | (1,940) | (14,082) |
| Operating lease right-of-use assets and liabilities, net | 1,747 | 6,712 | 4,924 |
| Prepaid expenses and other assets(3) | 1,823 | (908) | (10,526) |
| Accounts payable(4) | (14,635) | 2,889 | 2,340 |
| Accrued and other liabilities(5) | (12,916) | 2,351 | 11,556 |
| Net cash used by operating activities | (577,156) | (595,800) | (561,313) |
| Cash flows from investing activities | |||
| Purchases of property and equipment(6) | (5,208) | (12,887) | (22,859) |
| Purchases of marketable securities | (545,803) | — | — |
| Net cash used by investing activities | (551,011) | (12,887) | (22,859) |
| Cash flows from financing activities | |||
| Cash funding received from Illumina | 1,244,300 | 464,000 | 609,000 |
| Taxes paid related to net share settlement of equity awards | — | (234) | (4,183) |
| Net cash provided by financing activities | 1,244,300 | 463,766 | 604,817 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (62) | 305 | (511) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 116,071 | (144,616) | 20,134 |
| Cash, cash equivalents and restricted cash — beginning of period | 101,512 | 246,128 | 225,994 |
| Cash, cash equivalents and restricted cash — end of period | $217,583 | $101,512 | $246,128 |
| Represented by: | |||
| Cash and cash equivalents | $214,234 | $97,287 | $241,596 |
| Restricted cash | 3,349 | 4,225 | 4,532 |
| Total | $217,583 | $101,512 | $246,128 |
| Supplemental cash flow information: | |||
| Property and equipment included in accounts payable and accrued liabilities | — | (1,326) | (1,940) |
| Operating cash flows from operating leases, net | (19,272) | (18,733) | (17,536) |
(1) Includes changes in related party accounts receivable of $15, $133 and $(92), respectively.
(2) Includes changes in related party supplies of $2,725, $(871) and $(2,214), respectively.
(3) Includes changes in related party prepaid and other current assets of $(36), $27 and $761, respectively.
(4) Includes changes in related party accounts payable of $(168), $(2,965) and $2,331, respectively.
(5) Includes changes in related party accrued liabilities of $9, $91 and $(2,400), respectively.
(6) Includes related party purchases of property and equipment of $—, $(2,644) and $(1,755), respectively.
See accompanying notes to Consolidated financial statements.
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