GRAIL Past Earnings Performance
Past criteria checks 0/6
GRAIL has been growing earnings at an average annual rate of 20.5%, while the Biotechs industry saw earnings growing at 34.1% annually. Revenues have been growing at an average rate of 30.8% per year.
Key information
20.46%
Earnings growth rate
28.05%
EPS growth rate
| Biotechs Industry Growth | 17.04% |
| Revenue growth rate | 30.82% |
| Return on equity | -15.40% |
| Net Margin | -236.95% |
| Last Earnings Update | 30 Jun 2026 |
Recent past performance updates
Recent updates
Narrative Update • Sep 03
GRAL: Regulatory And Reimbursement Uncertainty Will Drive Future Downside Risk
Analysts have raised the GRAIL fair value estimate from $56 to $60, citing Street research that points to larger addressable markets, solid test volume trends, and mixed but generally constructive sector views reflected in recent price target updates between $60 and $88. Analyst Commentary Street research on GRAIL over the past few months shows a mix of optimism about long term opportunities and caution about near term execution and valuation.
Narrative Update • Aug 17
GRAL: Future Returns Will Depend On Trial Decisions And Reimbursement Progress
GRAIL's updated analyst price target has risen from $66 to about $72, with analysts pointing to a larger addressable diagnostics market, stronger volume trends, and expectations for higher future P/E multiples, while also acknowledging slightly tighter profit margin assumptions and sector wide risk sentiment. Analyst Commentary Recent research on GRAIL gives a split picture, with some bullish analysts lifting price targets and others staying cautious on execution risk and reimbursement timelines.Seeking Alpha • Aug 12
GRAIL: Looking Beyond The NHS-Galleri Headline
Summary GRAIL faces a binary FDA approval event for Galleri, with significant stock movement expected based on the outcome. Despite disappointing NHS-Galleri trial results, I believe the true value of the test would have been apparent with a longer monitoring period. While GRAL has a solid cash position, commercialization delays could see the company having to raise a large amount of capital on unfavorable terms. GRAL's valuation remains modest relative to peers and the size of the MCED opportunity, meaning positive news from the AdCom in September could see the stock move significantly higher. Read the full article on Seeking AlphaNarrative Update • Aug 03
GRAL: Regulatory And Lawsuit Overhang Will Drive Future Downside Risk
GRAIL's analyst price target has shifted modestly in recent weeks, with research citing large addressable markets, strong volume trends, better pricing, and ongoing payor and regulatory uncertainty that keeps some firms on the sidelines while others lift targets into the $60 to $88 range. Analyst Commentary Recent Street research on GRAIL highlights a split view.
Narrative Update • Jul 20
GRAL: Future Reimbursement Progress Will Drive Confidence Despite Trial And Legal Headwinds
GRAIL's analyst price target has shifted from $80 to $88, with analysts citing large addressable markets, strong volume trends, and improving pricing, while still acknowledging a more challenging near-term risk and reward setup and a mixed sector backdrop. Analyst Commentary Recent Street research on Grail reflects a mix of optimism around the company’s testing portfolio and caution around sector and reimbursement risks.Narrative Update • Jul 06
GRAL: Future Reimbursement Progress Will Drive Confidence After Trial Setback
The updated analyst price target for GRAIL has shifted from $130 to $80, reflecting a more cautious stance from analysts who highlight regulatory uncertainty around multi cancer early detection tests and the need for clearer reimbursement support before the story can fully play out. Analyst Commentary Recent Street research on Grail has centered on how quickly the company can broaden use of its Galleri multi cancer early detection test beyond the self pay market and into reimbursed channels.Narrative Update • Jun 22
GRAL: Future Returns Will Hinge On Trial Outcomes And Reimbursement Clarity
The GRAIL analyst price target has been modestly reset, slipping from $66.86 to $66.00 as analysts factor in a slightly higher discount rate and ongoing uncertainty around regulatory review and payor reimbursement for the Galleri test. Analyst Commentary Recent Street research on GRAIL points to a cautious but engaged stance, with Goldman Sachs and several other firms sitting at the middle of the spectrum as they weigh the commercial opportunity for the Galleri test against open questions on regulation and reimbursement.Analysis Article • Jun 20
GRAIL (GRAL) Stock Could Be 4.7% Undervalued After NHS Galleri Trial Setback
GRAIL (GRAL) is under pressure after disclosing that its NHS Galleri trial did not achieve the expected statistically significant reduction in late stage cancers, triggering multiple securities class action lawsuits and sharp investor concern. See our latest analysis for GRAIL. The failed NHS Galleri trial and subsequent lawsuits came after a sharp one day drop earlier in the year. Since then, the stock has shown mixed momentum, with a 90 day share price return of 36.08%, a year to date share...Narrative Update • Jun 04
GRAL: Future Returns Will Reflect Trial Evidence And Reimbursement Progress
GRAIL's analyst price target has been reduced by about $1 per share as analysts factor in more balanced assumptions on reimbursement progress, profitability, and long-term P/E expectations, following a mix of cautious initiations and price target changes across the Street. Analyst Commentary Recent Street research on GRAIL points to a more balanced stance, with a mix of cautious initiations, price target reductions, and a smaller number of positive adjustments that keep expectations in check.Analysis Article • May 08
Here's What Analysts Are Forecasting For GRAIL, Inc. (NASDAQ:GRAL) After Its First-Quarter Results
A week ago, GRAIL, Inc. ( NASDAQ:GRAL ) came out with a strong set of first-quarter numbers that could potentially lead...Narrative Update • May 07
GRAL: Future Returns Will Reflect Trial Outcomes And Reimbursement Progress
Narrative Update on GRAIL Analysts have trimmed their average price target for GRAIL by incorporating lower profit margin assumptions and a slightly higher future P/E of about 101x, following mixed reactions to recent study readouts and reimbursement uncertainty. Analyst Commentary Recent research updates on GRAIL reflect a split tape, with some firms trimming price targets after the NHS Galleri readout and reimbursement uncertainty, while others still see room for upside based on the company’s test portfolio and addressable market.Narrative Update • Apr 19
GRAL: Future Returns Will Depend On Upcoming FDA Approval Decision
Analysts have trimmed GRAIL's average price target to about $67.71 from $72.40. They cited updated models that factor in recent price target cuts following the NHS-Galleri topline readout and lingering uncertainty around broad reimbursement, even as revenue growth and margin assumptions are slightly adjusted.Narrative Update • Apr 05
GRAL: Future Returns Will Hinge On Upcoming Regulatory And Coverage Milestones
Narrative Update on GRAIL The analyst price target for GRAIL has been reduced by $11.00. This change reflects recent cuts across firms citing the NHS Galleri study missing its primary endpoint and greater uncertainty around broad reimbursement, even as analysts still reference GRAIL's position in multi cancer early detection and upcoming regulatory and coverage milestones.Narrative Update • Mar 21
GRAL: Future Returns Will Depend On NHS Study Outcome
Narrative Update: GRAIL Analyst Price Target Shift The updated analyst fair value estimate for GRAIL has moved from $88.00 to $83.40 as analysts factor in lower published price targets following the NHS Galleri study missing its primary endpoint and increased uncertainty around broad reimbursement, while still modeling higher revenue, stronger profit margins, and a lower future P/E multiple. Analyst Commentary Recent Street research shows a mix of optimism and caution around GRAIL, with several firms revising price targets after the NHS Galleri study update and recent quarterly results.New Narrative • Mar 08
Clinical Trial Setbacks And Reimbursement Delays Will Eventually Support Early Cancer Detection Potential
Catalysts About GRAIL GRAIL focuses on multi cancer early detection through its Galleri screening test and related clinical programs. What are the underlying business or industry changes driving this perspective?Narrative Update • Mar 06
GRAL: Future Returns Will Hinge On NHS Study And FDA Decision
The analyst fair value estimate for Grail has been trimmed from $114.50 to $88.00 as analysts factor in lower revenue growth and profit margin assumptions following the NHS Galleri readout and increased uncertainty around broad reimbursement. Analyst Commentary Street research on Grail has shifted meaningfully following the NHS Galleri top line readout, with several firms reducing price targets and reassessing the risk and reward profile around Galleri adoption and reimbursement.New Narrative • Feb 22
NHS Trial Momentum And Medicare Pathway Will Support Long Term Multi Cancer Screening Adoption
Catalysts About GRAIL GRAIL develops and commercializes Galleri, a blood based multi cancer early detection test aimed at finding cancers at earlier stages. What are the underlying business or industry changes driving this perspective?Narrative Update • Feb 20
GRAL: Future Returns Will Hinge On Upcoming NHS Trial Readout
The average analyst price target for Grail has edged down by $0.50 to about $114.50, as analysts balance optimism around upcoming trial readouts and potential regulatory milestones with a more cautious stance after the stock's very large move earlier in 2025 and ongoing execution risks. Analyst Commentary Recent research on Grail reflects a mix of enthusiasm for its position in multi cancer early detection and caution around valuation and execution timelines.Narrative Update • Feb 04
GRAL: Future Returns Will Depend On NHS Readout And Execution Consistency
Narrative Update Analysts have lifted their price target on GRAIL from $105 to $115, citing refreshed models that reflect updated assumptions for growth, margins and future P/E. Recent research highlights steady execution, the long term Galleri opportunity, and the absence of thesis changing developments in recent results.Narrative Update • Jan 20
GRAL: Future Returns Will Hinge On NHS Trial And Execution Risks
Analysts have nudged their price target on GRAIL up to $110 from $85, citing steady execution, a modest Q4 revenue beat, and the longer term opportunity for the Galleri test, despite the inherent risks that come with new technologies. Analyst Commentary Analysts see GRAIL's recent results as an incremental step rather than a major reset, with views split between confidence in execution and caution around key milestones like the NHS Galleri trial readout.Narrative Update • Jan 06
GRAL: Long Term MCED Opportunity And Execution Risks Will Shape Future Returns
Analysts have raised their price target range for GRAIL to about $85 from around $38, citing updated post-Q3 estimates and what they view as a significant long-term commercial opportunity for the Galleri multi-cancer early detection test, while also highlighting the risks associated with this type of novel technology. Analyst Commentary Bullish Takeaways Bullish analysts see the increase in the price target range to about $85 as a reflection of what they view as a sizeable commercial runway for the Galleri multi cancer early detection test over the long term.Narrative Update • Dec 16
GRAL: Future MCED Policy Shifts Will Drive Upside Despite Execution Risks
Analysts have raised their price target on GRAIL to $105 from $96.67, citing updated post earnings estimates and growing confidence in the long term commercial potential of the Galleri multi cancer early detection platform, despite ongoing technology and regulatory risks. Analyst Commentary Recent Street research reflects a meaningful reset in expectations for GRAIL, with multiple price target increases grounded in updated post earnings models and a clearer view of Galleri's commercial runway.Narrative Update • Dec 01
GRAL: Risks From Clinical Data and Execution Will Remain a Key Concern
Analysts have raised their price target for GRAIL from approximately $90 to $97 per share, citing strengthened confidence in the company’s long-term growth prospects. This outlook is driven by recent developments and opportunities in multi-cancer early detection.Narrative Update • Nov 17
GRAL: Confidence Will Increase With Upcoming Clinical Data and Legislative Progress
Analysts have raised their price target for GRAIL from $61.50 to $90.00. This change reflects increased confidence in the company’s long-term prospects and growth potential, following recent updates and a positive outlook on its multi-cancer early detection technology.Narrative Update • Nov 01
GRAL: Execution Risks Remain High Amid PATHFINDER 2 Progress And Regulatory Shifts
Analysts have raised GRAIL's fair value estimate from $56.50 to $61.50 per share, citing greater confidence in the company's platforms, ongoing clinical milestones, and evolving market opportunities as key drivers for the upward revision. Analyst Commentary Bullish Takeaways Bullish analysts highlight growing confidence in GRAIL's platforms.Narrative Update • Oct 18
FDA Approval And NHS Studies Will Transform Cancer Detection
Analysts have raised their price target on GRAIL significantly, from $43 to $75. They cite growing confidence in the company's platforms, anticipated improvements in test performance, and the potential impact of future legislative changes as reasons for this adjustment.Narrative Update • Oct 04
FDA Approval And NHS Studies Will Transform Cancer Detection
Analysts have raised their price target for GRAIL from $40.50 to $56.50. They cite strengthened confidence in the company's platforms, positive expectations for future study results, and anticipation of supportive legislative developments.New Narrative • Jun 15
Overvaluation Risks And NHS Trials Will Spur Future Resilience
Market optimism may overestimate Galleri's near-term adoption and pricing power due to regulatory, payer, and competitive pressures.Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How GRAIL makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Jun 26 | 165 | -392 | 291 | 191 |
| 31 Mar 26 | 156 | -395 | 269 | 190 |
| 31 Dec 25 | 147 | -408 | 276 | 196 |
| 30 Sep 25 | 142 | -406 | 251 | 188 |
| 30 Jun 25 | 134 | -443 | 271 | 218 |
| 31 Mar 25 | 131 | -1,914 | 313 | 265 |
| 31 Dec 24 | 126 | -2,027 | 336 | 313 |
| 30 Sep 24 | 118 | -2,117 | 370 | 358 |
| 30 Jun 24 | 110 | -2,883 | 373 | 360 |
| 31 Mar 24 | 100 | -1,491 | 357 | 354 |
| 31 Dec 23 | 93 | -1,466 | 345 | 339 |
| 01 Jan 23 | 56 | -5,399 | 296 | 330 |
| 02 Jan 22 | 15 | -1,248 | 234 | 283 |
| 30 Jun 21 | 1 | -387 | 172 | 216 |
| 31 Mar 21 | 0 | -350 | 148 | 204 |
| 31 Dec 20 | 0 | -312 | 124 | 193 |
| 30 Sep 20 | 0 | -284 | 113 | 174 |
| 30 Jun 20 | 0 | -264 | 105 | 165 |
| 31 Mar 20 | 0 | -254 | 97 | 165 |
| 31 Dec 19 | 0 | -245 | 89 | 165 |
Quality Earnings: GRAL is currently unprofitable.
Growing Profit Margin: GRAL is currently unprofitable.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: GRAL is unprofitable, but has reduced losses over the past 5 years at a rate of 20.5% per year.
Accelerating Growth: Unable to compare GRAL's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: GRAL is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (64.6%).
Return on Equity
High ROE: GRAL has a negative Return on Equity (-15.4%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/09/12 01:27 |
| End of Day Share Price | 2026/09/11 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Learn about the who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
GRAIL, Inc. is covered by 14 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Catherine Ramsey Schulte | Baird |
| Robert Bamberger | Baird |
| Kyle Mikson | Canaccord Genuity |