Filing Flows › Grail (GRAL) › Q4 2025
Grail (GRAL) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 12, 2026
Grail (GRAL) reported revenue of $43.6M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +20% from the quarter before. Operating margin was -285.4%, net loss $99.2M (227.5% of revenue).
Grail, Q4 2025: revenue $43.6M (+14% year over year), operating margin -285.4%, net loss $99.2M, operating cash flow −$63.8M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $43.6M | +20% | +14% |
| Operating profit | −$124M | — | — |
| Net earnings | −$99.2M | — | — |
| Operating cash flow | −$63.8M | — | — |
What changed
Revenue was $43.6M in Q4 2025, up 14% year over year and up 20% from the previous quarter. Screening revenue was the largest line at 97% of revenue.
Operating costs exceeded revenue by $124.4M, an operating margin of -285.4%. Total costs fell 4% while revenue rose 14%. The quarter ended with a net loss of $99.2M, wider than the previous quarter's $89.0M loss.
Operating cash flow was −$63.8M. Non-cash charges added back $34.5M of depreciation and amortization and $13.8M of share-based compensation. Working capital and other items used $12.8M. Capital expenditures of $94K exceeded it, leaving free cash flow of −$63.9M.
Questions
What was Grail's revenue in the fourth quarter 2025?
Grail (GRAL) reported revenue of $43.6M for the fourth quarter 2025 (Q4 2025), +14% from a year earlier and +20% from the quarter before.
Was Grail profitable in the fourth quarter 2025?
Operating loss was $124M (-285.4% of revenue) and net loss $99.2M.
Source: Grail 10-K on SEC EDGAR.