Grail (GRAL) Gross Margin (2023 - 2026)
Grail's (GRAL) quarterly Gross Margin came in at 47.75% in Q2 2026, up 218.0% on a YoY basis from 15.02% in Q2 2025, and little changed quarter-over-quarter from 47.91% in Q1 2026.
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Grail (GRAL) Gross Margin (2023 - 2026) Analysis & Trends
Grail (GRAL) has reported Gross Margin for 4 consecutive years, with 47.75% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin rose 218.0% year-over-year to 47.75%; the trailing twelve-month figure through Jun 2026 stood at 49.21% (up 152.0% YoY), and the FY2025 full-year result was 50.23%, up 61.0% from the prior year.
- Gross Margin steadied at 47.75% in Q2 2026 per GRAL's latest filing, from 47.91% in the prior quarter.
- Across five years, Gross Margin topped out at 60.24% in Q2 2023 and bottomed at 44.26% in Q3 2024.
- Historically, Gross Margin has averaged 50.25% across 4 years, with a median of 48.28% in 2024.
- The sharpest annual moves came in 2024 and 2025: Gross Margin sank 963 bps in 2024, then jumped 1178 bps in 2025.
- Over 4 years, Gross Margin stood at 54.46% in 2023, then slipped by 2 bps to 53.46% in 2024, then grew by 5 bps to 56.04% in 2025, then decreased by 15 bps to 47.75% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 47.75%, 47.91%, and 56.04% for Q2 2026, Q1 2026, and Q3 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Natera | 53.05 Bn | 51.95 Bn | 486.15 Mn | 64.58% |
| 2 | Quest Diagnostics | 27.19 Bn | 26.87 Bn | 1.03 Bn | 33.75% |
| 3 | Labcorp Holdings | 25.93 Bn | 25.81 Bn | 1.11 Bn | 29.80% |
| 4 | Guardant Health | 23.97 Bn | 22.91 Bn | 219.03 Mn | 65.39% |
| 5 | Tempus AI | 13.64 Bn | 12.82 Bn | 274.25 Mn | 71.70% |
| 6 | Caris Life Sciences | 8.47 Bn | 7.68 Bn | 182.38 Mn | 69.16% |
| 7 | Sotera Health | 5.35 Bn | 4.99 Bn | 177.96 Mn | 55.38% |
| 8 | BillionToOne | 4.96 Bn | 4.41 Bn | 77.11 Mn | 70.45% |
| 9 | Adaptive Biotechnologies | 4.55 Bn | 4.21 Bn | 51.39 Mn | 71.82% |
| 10 | Grail | 3.61 Bn | 2.75 Bn | 21.34 Mn | 47.75% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 47.75% |
| Mar 31, 2026 | 47.91% |
| Sep 30, 2025 | 56.04% |
| Jun 30, 2025 | 45.57% |
| Mar 31, 2025 | 46.22% |
| Dec 31, 2024 | 53.46% |
| Sep 30, 2024 | 44.26% |
| Jun 30, 2024 | 50.61% |
| Mar 31, 2024 | 48.65% |
| Dec 31, 2023 | 54.46% |
| Oct 1, 2023 | 47.80% |
| Jun 30, 2023 | 60.24% |