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GRAIL GRAL

Grail reports $103.57 million net loss for Q3 2026

Form
10-Q
Filed
Importance
Notable
  1. Revenue: $37.54 million for the three months ended Sep 30, 2026
  2. Net loss: $103.57 million for the three months ended Sep 30, 2026
  3. Diluted EPS: -$2.21 for the three months ended Sep 30, 2026
  4. Cash and equivalents: $28.98 million at Sep 30, 2026

Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.

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The reading, claim by claim

  1. For the quarter, the financial statements source reports revenue of $37.5 million and net income of -$103.6 million, with revenue up 3.7% from a year earlier.
  2. In the statements of operations (amounts in thousands), screening revenue was $37,269 thousand for the three months ended September 30, 2026, against $32,807 thousand a year earlier.
  3. Development services revenue was $266 thousand, against $3,387 thousand.
  4. Loss from operations was $144,619 thousand.
  5. Net loss per share, basic and diluted, was $(2.21) for the three months, against $(2.46) a year earlier.
  6. For the nine months ended September 30, 2026, total revenue was $123,007 thousand and net loss was $307,002 thousand, with a loss per share of $(6.84).
  7. On the balance sheet (amounts in thousands), cash and cash equivalents were $28,976 thousand at September 30, 2026, against $249,727 thousand at December 31, 2025.
  8. Short-term marketable securities were $759,700 thousand, against $654,703 thousand.
  9. Total assets were $2,730,562 thousand.
  10. The statement of stockholders' equity shows 1,570,308 shares of common stock issued in the second quarter of 2026 under the Samsung Stock Purchase Agreement.
  11. Shares outstanding were 44,753,179 at September 30, 2026, against 40,331,360 at December 31, 2025.
  12. Total stockholders' equity was $2,453,519 thousand.
  13. The filing refers to its Annual Report on Form 10-K filed on March 12, 2026 for the year ended December 31, 2025 for risk factors.
  14. Its forward-looking statements note covers topics such as the anticipated regulatory decision timeline and the sufficiency of cash on hand.

14 of 14 claims matched the filing text.

From the filing

Item 1. Financial Statements

Condensed Consolidated Balance Sheets 4

Condensed Consolidated Statements of Operations 5

Condensed Consolidated Statements of Comprehensive Loss 6

Condensed Consolidated Statements of Stockholders' Equity 7

Condensed Consolidated Statements of Cash Flows 9

Notes to Condensed Consolidated Statements 10

Item 6. Exhibits

Signatures

Cautionary Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q (this "Form 10-Q") contains forward-looking statements. In some cases, you can identify these statements by forward-looking words such as "aim," "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "should," "would," or "will," the negative of these terms, and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties, and assumptions about us, may include expec tations and projections of our future financial performance, future tests or products, technology, clinical studies, regulatory landscape, compliance and strategy, potential market opportunity and reimbursement, increased competition, anticipated growth strategies including commercialization pathway, pricing strategies and expected benefits on our promotional pricing program, international expansion, sufficiency of cash on hand to finance our business14, seasonality, cost savings, facilities plans and lease commencement, budgets and strategies, restructuring and stock-based compensation costs, legal proceedings, impact of recent regulatory updates on our operations, anticipated regulatory decision timeline14, and anticipated trends in our business.

These statements are only predictions based on our current expectations and projections about future events and trends. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially and adversely from those expressed or implied by the forward-looking statements, including those factors discussed under Item 1A. "Risk Factors" in this Form 10-Q and in our Annual Report on Form 10-K (filed on March 12, 2026) for the year ended December 31, 202513 (the "2025 Form 10-K"). You should specifically consider the numerous risks described under these sections. Moreover, we operate in a dynamic and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results, level of activity, performance, or achievements to differ materially and adversely from those contained in any forward-looking statements we may make.

Forward-looking statements relate to the future and, accordingly, are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Although we believe the expectations and projections expressed or implied by the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, or achievements. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Except to the extent required by law, we undertake no obligation to update any of these forward-looking statements after the date of this Form 10-Q to conform our prior statements to actual results or revised expectations or to reflect new information or the occurrence of unanticipated events.

Part I - Financial Information

Item 1. Financial Statements

GRAIL, Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited) (amounts in thousands, except share and per share data)
September 30, 2026December 31, 2025
Assets
Current assets:
Cash and cash equivalents7$28,9767$249,7277
Short-term marketable securities8759,7008654,7038
Accounts receivable, net18,99818,295
Supplies18,47516,017
Prepaid expenses and other current assets16,64915,107
Total current assets842,798953,849
Property and equipment, net42,69151,813
Operating lease right-of-use assets84,07352,070
Restricted cash6,9436,974
Intangible assets, net1,746,8061,850,556
Other non-current assets7,2516,753
Total assets9$2,730,5629$2,922,0159
Liabilities and stockholders' equity
Current liabilities:
Accounts payable$10,209$2,083
Accrued liabilities76,30563,945
Operating lease liabilities, current portion6,27211,715
Other current liabilities1,5461,927
Total current liabilities94,33279,670
Operating lease liabilities, net of current portion79,57643,148
Deferred tax liability, net99,742218,583
Other non-current liabilities3,3932,752
Total liabilities277,043344,153
Preferred stock, par value of $0.001 per share; 50,000,000 shares authorized, no shares issued and outstanding as of September 30, 2026 and December 31, 2025——
Common stock $0.001 par value per share, 1,500,000,000 shares authorized as of September 30, 2026 and December 31, 2025 and 44,753,179 and 40,331,360 shares issued and outstanding as of September 30, 2026 and December 31, 2025114540
Additional paid-in capital12,970,36312,786,848
Accumulated other comprehensive income1,7942,655
Accumulated deficit(10,518,683)(10,211,681)
Total stockholders' equity122,453,519122,577,86212
Total liabilities and stockholders' equity$2,730,562$2,922,015

See accompanying notes to condensed consolidated financial statements.

GRAIL, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited) (amounts in thousands, except share and per share data)
Three Months Ended Nine Months Ended
September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Revenue:
Screening revenue2$37,2692$32,8072$119,7432$96,3192
Development services revenue326633,38733,26437,2563
Total revenue137,535136,1946123,0076103,5756
Costs and operating expenses:
Cost of screening revenue (exclusive of amortization of intangible assets)22,03215,91066,62352,379
Cost of development services revenue1415449512,216
Cost of revenue — amortization of intangible assets33,47333,473100,417100,417
Research and development44,07348,647139,523148,898
Sales and marketing41,69525,503110,02089,021
General and administrative40,74037,408134,217120,396
Intangible and other assets impairment——25,42328,000
Total costs and operating expenses182,154161,485577,174541,327
Loss from operations4(144,619)4(125,291)4(454,167)4(437,752)4
Other income:
Interest income7,8436,10723,05920,695
Other income (expense), net(545)466(444)(929)
Total other income, net7,2986,57322,61519,766
Loss before income taxes(137,321)(118,718)(431,552)(417,986)
Benefit from income taxes33,75329,741124,550108,811
Net loss6$(103,568)6$(88,977)6$(307,002)6$(309,175)6
Net loss per share — Basic and Diluted5$(2.21)5$(2.46)5$(6.84)5$(8.73)5
Weighted-average shares of common stock used in computing net loss per share:46,777,72936,124,25644,858,89335,415,266

See accompanying notes to condensed consolidated financial statements.

GRAIL, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(unaudited) (amounts in thousands)
Three Months Ended Nine Months Ended
September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Net loss$(103,568)$(88,977)$(307,002)$(309,175)
Other comprehensive income (loss):
Change in net unrealized gain (loss) on marketable securities(198)172(794)(137)
Foreign currency translation adjustment152(19)(67)1,142
Comprehensive loss$(103,614)$(88,824)$(307,863)$(308,170)

See accompanying notes to condensed consolidated financial statements.

GRAIL, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(unaudited) (amounts in thousands, except share data)

Common Stock

Shares Amount Additional Paid-in Capital Accumulated

Other

Comprehensive

Income/(Loss)

Accumulated

Deficit Total Stockholders' Equity

Balance at December 31, 2025 40,331,360 $ 40 $ 12,786,848 $ 2,655 $ ( 10,211,681 ) $ 2,577,862 Net loss — — — — ( 93,187 ) ( 93,187 ) Stock-based compensation expense — — 16,793 — — 16,793 Other comprehensive loss — — — ( 782 ) — ( 782 ) Release of restricted stock units 802,859 1 ( 1 ) — — — Balance at March 31, 2026 41,134,219 41 12,803,640 1,873 ( 10,304,868 ) 2,500,686 Net loss — — — — ( 110,247 ) ( 110,247 ) Stock-based compensation expense — — 19,557 — — 19,557 Issuance of common stock under ESPP 87,446 — 4,593 — — 4,593 Other comprehensive loss — — — ( 33 ) — ( 33 ) Release of restricted stock units 1,874,261 2 ( 2 ) — — — Issuance of common stock and recognition of the Samsung Stock Purchase Agreement, including the deferred asset, net of tax benefit and issuance costs 1,570,308 2 128,096 — — 128,09810 Balance at June 30, 2026 44,666,234 45 12,955,884 1,840 ( 10,415,115 ) 2,542,654 Net loss — — — — ( 103,568 ) ( 103,568 ) Stock-based compensation expense — — 14,109 — — 14,109 Other comprehensive loss — — — ( 46 ) — ( 46 ) Issuance of common stock pursuant to exercise of performance stock options 26,452 — 370 — — 370

Release of restricted stock units 60,493 — — — — —

Balance at September 30, 2026 44,753,179 $ 45 $ 12,970,363 $ 1,794 $ ( 10,518,683 ) $ 2,453,519

GRAIL, Inc.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

(unaudited) (amounts in thousands, except share data)

Common Stock

Shares Amount Additional Paid-in Capital Accumulated

Other

Comprehensive

Income Accu

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Data on this page was fetched . The filing on SEC.gov is the record.