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Grail vs Exagen: GRAL and XGN compared
Grail is the larger company: $37.5M of revenue in its latest quarter (Q3 2026) against $19.9M for Exagen (Q2 2026). Exagen is growing faster (+16% against +4% a year earlier). Exagen is more profitable, with an operating margin of -8.6% against -385.3%.
Where the money goes: GRAL and XGN
Grail (GRAL) · Q3 2026
Grail, Q3 2026: revenue $37.5M (+4% year over year), operating margin -385.3%, net loss $104M, operating cash flow −$74.7M. The chart follows the revenue to costs, profit and cash.
Exagen (XGN) · Q2 2026
Exagen, Q2 2026: revenue $19.9M (+16% year over year), operating margin -8.6%, net loss $3.2M, operating cash flow $4.0M. The chart follows the revenue to costs, profit and cash.
| Grail (GRAL) | Exagen (XGN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $37.5M | $19.9M |
| Revenue growth, Y/Y | +4% | +16% |
| Operating margin | -385.3% | -8.6% |
| Net earnings | −$104M | −$3.2M |
| Net margin | -275.9% | -16.0% |
| Operating cash flow | −$74.7M | $4.0M |
| Free cash flow | — | $3.4M |
| Market value | $6.0B | — |
| Analysts’ mean target | $132.56 | — |
Where the revenue comes from
Grail
- Screening revenue: $37.3M (99%)
- Development Services: $266K (1%)
Questions
Which is bigger, Grail or Exagen?
Grail is the larger company: $37.5M of revenue in its latest quarter (Q3 2026) against $19.9M for Exagen (Q2 2026).
Is Grail or Exagen growing faster?
Exagen is growing faster (+16% against +4% a year earlier).
Which is more profitable, Grail or Exagen?
Exagen is more profitable, with an operating margin of -8.6% against -385.3%.
More: Grail earnings · how Grail makes money · Exagen earnings · how Exagen makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Aug 4, 2026). Fiscal quarters can end on different dates. Not investment advice.