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Jun 30, 2025
Grail Inc Q2 2025 Earnings Report
GRAIL reported Q2 2025 results with revenue growth driven by Galleri test sales, but continued to post a significant net loss.
Key Takeaways
GRAIL saw Q2 2025 revenue rise 11% year-over-year to $35.5M, driven by strong U.S. Galleri sales. The company narrowed its net loss compared to the prior year, but remained unprofitable due to high operating expenses and impairment charges.
Total revenue grew 11% YoY to $35.5M
U.S. Galleri revenue increased 21% YoY to $34.2M
Galleri tests sold rose 29% YoY to over 45,000
Net loss was $114.0M, including a $28.0M intangible asset impairment
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Management remains optimistic about Galleri adoption and upcoming clinical trial presentations, but did not provide specific financial guidance.
Positive Outlook
- Strong U.S. Galleri uptake with over 45,000 tests sold in Q2
- 21% YoY growth in U.S. Galleri revenue
- Positive top-line PATHFINDER 2 results with higher cancer detection rates
- Consistent specificity and cancer signal origin accuracy across studies
- New collaboration with Everlywell to expand Galleri test access
Challenges Ahead
- Continued significant net losses
- High operating expenses
- Ongoing intangible asset impairments
- No specific revenue or profit guidance provided
- Regulatory and market adoption risks remain
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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