Grail (GRAL) EBITDA (2023 - 2026)
Grail's (GRAL) quarterly EBITDA came in at -$173.8 million in Q2 2026, down 9.4% on a YoY basis from -$191.8 million in Q2 2025, and down 28.0% quarter-over-quarter from -$135.8 million in Q1 2026.
Analysis
Grail (GRAL) EBITDA (2023 - 2026) Analysis & Trends
Grail (GRAL) has reported EBITDA for 4 consecutive years, with -$173.8 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, EBITDA fell 9.4% year-over-year to -$173.8 million; the trailing twelve-month figure through Jun 2026 stood at -$559.2 million (up 11.64% YoY), and the FY2025 full-year result was -$562.2 million, up 74.32% from the prior year.
- EBITDA eased to -$173.8 million in Q2 2026 per GRAL's latest filing, from -$135.8 million in the prior quarter.
- Across five years, EBITDA topped out at -$124.4 million in Q4 2025 and bottomed at -$1.6 billion in Q2 2024.
- Historically, EBITDA has averaged -$336.3 million across 4 years, with a median of -$173.8 million in 2026.
- The sharpest annual moves came in 2024 and 2025: EBITDA slumped 703.11% in 2024, then surged 90.32% in 2025.
- Over 4 years, EBITDA stood at -$194.6 million in 2023, then gained by 29.63% to -$136.9 million in 2024, then gained by 9.15% to -$124.4 million in 2025, then plunged by 39.68% to -$173.8 million in 2026.
- According to Business Quant data, EBITDA over the past three periods registered -$173.8 million, -$135.8 million, and -$124.4 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Natera | 53.05 Bn | 51.95 Bn | 486.15 Mn | -75.79 Mn |
| 2 | Quest Diagnostics | 27.19 Bn | 26.87 Bn | 1.03 Bn | 459.00 Mn |
| 3 | Labcorp Holdings | 25.93 Bn | 25.81 Bn | 1.11 Bn | 451.60 Mn |
| 4 | Guardant Health | 23.97 Bn | 22.91 Bn | 219.03 Mn | -129.12 Mn |
| 5 | Tempus AI | 13.64 Bn | 12.82 Bn | 274.25 Mn | -75.91 Mn |
| 6 | Caris Life Sciences | 8.47 Bn | 7.68 Bn | 182.38 Mn | 26.93 Mn |
| 7 | Sotera Health | 5.35 Bn | 4.99 Bn | 177.96 Mn | 109.81 Mn |
| 8 | BillionToOne | 4.96 Bn | 4.41 Bn | 77.11 Mn | 5.50 Mn |
| 9 | Adaptive Biotechnologies | 4.55 Bn | 4.21 Bn | 51.39 Mn | -15.77 Mn |
| 10 | Grail | 3.61 Bn | 2.75 Bn | 21.34 Mn | -173.78 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -173.78 Mn |
| Mar 31, 2026 | -135.77 Mn |
| Dec 31, 2025 | -124.41 Mn |
| Sep 30, 2025 | -125.29 Mn |
| Jun 30, 2025 | -158.85 Mn |
| Mar 31, 2025 | -153.61 Mn |
| Dec 31, 2024 | -136.94 Mn |
| Sep 30, 2024 | -183.51 Mn |
| Jun 30, 2024 | -1.64 Bn |
| Mar 31, 2024 | -227.42 Mn |
| Dec 31, 2023 | -194.59 Mn |
| Oct 1, 2023 | -912.39 Mn |
| Jun 30, 2023 | -204.37 Mn |