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GRAIL Inc
(NASDAQ:GRAL)
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Rating:52Neutral
Price Target:
$63.00
▲(21.83% Upside)
Action:Reiterated
Date:06/23/26
The score is held back primarily by weak financial performance (ongoing losses, negative gross margin, and continued cash burn) despite a low-debt balance sheet. Earnings-call momentum (strong test/revenue growth and improving unit economics with solid cash) provides a meaningful offset, while technicals are mixed and valuation remains challenged due to negative earnings and no dividend support.
Positive Factors
Strong cash runway
A cash balance of $823.1M provides multi-year runway to fund commercialization, trials and regulatory processes. That funding reduces near-term dilution risk and supports sustained investment in sales, evidence generation and integrations while the business scales toward profitability.
Negative Factors
Negative gross margins and deep losses
Persistently negative gross profit and a very large net loss margin indicate the business is not yet delivering sustainable unit economics. Without durable margin improvement, continued losses will erode equity and require ongoing financing, complicating the path to profitability over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash runway
A cash balance of $823.1M provides multi-year runway to fund commercialization, trials and regulatory processes. That funding reduces near-term dilution risk and supports sustained investment in sales, evidence generation and integrations while the business scales toward profitability.
Read all positive factors
GRAIL Inc Key Performance Indicators (KPIs)
GRAIL Inc (GRAL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.93B
Dividend YieldN/A
Average Volume (3M)782.51K
Price to Earnings (P/E)―
Beta (1Y)2.50
Revenue Growth19.44%
EPS Growth82.94%
CountryUS
Employees910
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-10.37
Shares Outstanding42,916,590
10 Day Avg. Volume664,493
30 Day Avg. Volume782,511
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)1.22
Price to Sales (P/S)21.37
P/FCF Ratio-10.52
Enterprise Value/Market Cap0.86
Enterprise Value/Revenue16.23
Enterprise Value/Gross Profit-109.64
Enterprise Value/Ebitda-7.50
Forecast
1Y Price Target
$65.57Price Target Upside26.81% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)-10.35
Revenue Forecast (FY)$179.56M
GRAIL Inc Business Overview & Revenue Model
Company Description
GRAIL, Inc., a commercial-stage healthcare company, provides multi-cancer early detection testing and services in the United States and internationally. It offers Galleri, a cancer screening test for asymptomatic individuals over 50 years of age; ...
How the Company Makes Money
GRAIL primarily generates revenue by selling its blood-based cancer screening test(s) (including the Galleri multi-cancer early detection test) to customers who order and pay for the test. Revenue is recognized when testing services are delivered ...
GRAIL Inc Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 18, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial momentum and meaningful clinical and regulatory progress: test volumes grew 50% YoY, screening revenue rose 37% YoY, adjusted gross profit improved 38% YoY, PMA was accepted, and large trial datasets and upcoming ASCO readouts support the evidence base. At the same time, the NHS-Galleri primary combined endpoint was not met, ASP pressure and continued operating losses persist, media scrutiny and competitive activity create near-term headwinds, and regulatory/timing uncertainties (including possible FDA AdCom and CMS coverage) remain. Overall, positives around volume growth, margins improvement, cash runway, partnerships and regulatory progress outweigh the challenges, but the company still faces execution and perception risks that will need to be addressed in coming quarters.Positive Updates
Strong Volume and Screening Revenue Growth
Galleri tests sold: >56,000 in Q1 2026, a 50% year-over-year increase. Galleri screening revenue: $39.8M, up 37% year-over-year. Total revenue: $40.8M, up 28% year-over-year (includes $1.0M development services).
Negative Updates
Primary Endpoint Not Met in NHS-Galleri
The combined primary endpoint (reduction in Stage III and IV cancers over 3 rounds) in NHS-Galleri was not statistically significant because an increase in Stage III detection offset the decrease in Stage IV detection, resulting in a null result on the combined endpoint.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Volume and Screening Revenue Growth
Galleri tests sold: >56,000 in Q1 2026, a 50% year-over-year increase. Galleri screening revenue: $39.8M, up 37% year-over-year. Total revenue: $40.8M, up 28% year-over-year (includes $1.0M development services).
Read all positive updates
Company Guidance
Management reiterated 2026 revenue guidance of 22%–32% growth (a 10‑point range) despite a strong Q1 print—Q1 revenue $40.8M (+28% YoY) including $39.8M screening revenue (+37% YoY) on >56,000 Galleri tests (+50% YoY)—and explained the conservatism by pointing to uncertain uptake from new digital partners (e.g., Function, Hims & Hers), timing of the sales‑force expansion (territories rising from ~90 to 120, majority of new reps to be onboarded by midyear), Epic Aura integration rollout to ~450 eligible health systems (go‑live beginning in Q3), and regulatory/coverage timing. Q1 financials included adjusted gross profit $19.7M (+38% YoY), adjusted EBITDA -$79.9M (improved $18.8M, +19% YoY), net loss $93.2M (12% improvement) and cash of $823.1M; operational metrics cited ~1,300 new prescribers in Q1, ~2,000 providers using Quest/Athena electronic ordering (driving >30,000 tests via those integrations), self‑pay representing ~2/3+ of volume, and an expectation of only modest further ASP declines (with mix effects possible); the company said it will reevaluate guidance after Q2.GRAIL Inc Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 156.12M | 147.17M | 125.59M | 93.11M | 55.55M | 14.61M |
| Gross Profit | -23.10M | -62.57M | -78.02M | -95.61M | -116.45M | -100.00M |
| EBITDA | -337.75M | -378.16M | -610.17M | -638.22M | -587.70M | -1.21B |
| Net Income | -395.32M | -408.35M | -2.03B | -1.47B | -5.40B | -1.25B |
Balance Sheet | ||||||
| Total Assets | 2.80B | 2.92B | 2.98B | 4.56B | 5.60B | 9.74B |
| Cash, Cash Equivalents and Short-Term Investments | 823.11M | 904.43M | 763.47M | 97.29M | 241.60M | 221.16M |
| Total Debt | 51.03M | 98.01M | 68.14M | 84.41M | 96.01M | 110.56M |
| Total Liabilities | 302.79M | 344.15M | 479.90M | 910.74M | 955.94M | 307.40M |
| Stockholders Equity | 2.50B | 2.58B | 2.50B | 3.65B | 4.65B | 9.43B |
Cash Flow | ||||||
| Free Cash Flow | -291.43M | -299.01M | -582.36M | -608.69M | -584.17M | -758.06M |
| Operating Cash Flow | -290.98M | -299.01M | -577.16M | -595.80M | -561.31M | -688.13M |
| Investing Cash Flow | -193.10M | -85.05M | -551.01M | -12.89M | -22.86M | 344.81M |
| Financing Cash Flow | 423.32M | 423.32M | 1.24B | 463.77M | 604.82M | 394.74M |
GRAIL Inc Technical Analysis
Positive
51.71
Price Trends
60.25
Positive
61.00
Positive
72.16
Negative
Market Momentum
0.78
Negative
56.70
Neutral
82.01
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GRAL, the sentiment is Positive. The current price of 51.71 is below the 20-day moving average (MA) of 62.31, below the 50-day MA of 60.25, and below the 200-day MA of 72.16, indicating a neutral trend. The MACD of 0.78 indicates Negative momentum. The RSI at 56.70 is Neutral, neither overbought nor oversold. The STOCH value of 82.01 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GRAL.
GRAIL Inc Risk Analysis
GRAIL Inc disclosed 75 risk factors in its most recent earnings report. GRAIL Inc reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
GRAIL Inc Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $26.60B | 32.05 | 33.99% | ― | 1.25% | ― | |
73 Outperform | $38.88B | -168.67 | -15.13% | ― | 36.59% | -11.94% | |
59 Neutral | $1.90B | -3.84 | -11.82% | ― | 10.95% | -26.52% | |
52 Neutral | $2.93B | -6.61 | -16.42% | ― | 19.44% | 82.94% | |
52 Neutral | $539.30M | -1.35 | -109.09% | ― | -0.28% | -286.80% | |
52 Neutral | $19.89B | -44.46 | 184.27% | ― | 39.56% | -0.63% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
GRAL
GRAIL Inc
68.27
19.04
38.68%
ILMN
Illumina
175.83
77.68
79.14%
MYGN
Myriad Genetics
5.71
0.18
3.25%
NEO
NeoGenomics
14.59
7.18
96.90%
NTRA
Natera
271.45
110.73
68.90%
GH
Guardant Health
150.03
99.32
195.86%
GRAIL Inc Corporate Events
Executive/Board ChangesShareholder Meetings
GRAIL Shareholders Reelect Directors and Ratify Auditor
Positive
Jun 22, 2026
At GRAIL, Inc.’s Annual Meeting of Stockholders held on June 18, 2026, shareholders elected two Class II directors, Sarah Krevans and Steven Mizell, to serve on the board until the 2029 annual meeting, with both candidates receiving strong s...
Business Operations and StrategyExecutive/Board Changes
GRAIL Names Joshua Ofman CEO, Enhances Leadership Compensation
Positive
Jun 1, 2026
On June 1, 2026, GRAIL’s board appointed Dr. Joshua Ofman as chief executive officer and principal executive officer, approving an amended offer letter that raises his annual base salary to $800,000 and sets his variable compensation target ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.