Grail (GRAL) Operating Expenses (2023 - 2026)
Grail's Operating Expenses came in at $218.47 million for Q2 2026, up 12.4% from $194.4 million a year earlier and up 23.7% from the prior quarter.
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Analysis
Grail (GRAL) Operating Expenses (2023 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Grail reported Operating Expenses of $724.51 million, down 5.6% year-over-year; for FY2025, it was $709.34 million, down 69.4% from FY2024.
- Operating Expenses carries a three-year compound annual growth rate of -49.5% (FY2022 to FY2025).
- Going back by year, Operating Expenses was $2.31 billion in FY2024 (+43.9%), $1.61 billion in FY2023 (-70.7%) and $5.5 billion in FY2022.
- The Q2 2026 figure represents the highest quarterly Operating Expenses since Q2 2024.
- Year-over-year, Operating Expenses increased in 1 of the last eight quarters, with an average decline of 29.4%.
- The fastest year-over-year change in Operating Expenses over five years came in Q2 2024 (growth of 637.8%), and the weakest in Q2 2025 (a decline of 88.4%).
- Business Quant data shows GRAL's Operating Expenses at $176.55 million (Q1 2026), $168.01 million (Q4 2025) and $161.49 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 100.89 Bn | 96.90 Bn | - | 17.74 Bn |
| 2 | Natera | 56.39 Bn | 52.08 Bn | 485.19 Mn | 828.54 Mn |
| 3 | Quest Diagnostics | 26.08 Bn | 24.21 Bn | 1.03 Bn | 2.58 Bn |
| 4 | Labcorp Holdings | 26.01 Bn | 23.76 Bn | 1.11 Bn | 582.30 Mn |
| 5 | Tenet Healthcare | 22.37 Bn | 11.38 Bn | - | - |
| 6 | Guardant Health | 21.03 Bn | 17.09 Bn | 219.03 Mn | 464.10 Mn |
| 7 | Fresenius Medical Care AG | 12.90 Bn | 4.86 Bn | 1.52 Bn | 901.58 Mn |
| 8 | Encompass Health | 12.62 Bn | 12.28 Bn | - | 1.31 Bn |
| 9 | BrightSpring Health Services | 12.53 Bn | 10.86 Bn | 492.75 Mn | 362.36 Mn |
| 10 | Grail | 5.08 Bn | 1.95 Bn | 20.91 Mn | 218.47 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 218.47 Mn |
| Mar 31, 2026 | 176.55 Mn |
| Dec 31, 2025 | 168.01 Mn |
| Sep 30, 2025 | 161.49 Mn |
| Jun 30, 2025 | 194.40 Mn |
| Mar 31, 2025 | 185.44 Mn |
| Dec 31, 2024 | 175.19 Mn |
| Sep 30, 2024 | 212.16 Mn |
| Jun 30, 2024 | 1.67 Bn |
| Mar 31, 2024 | 254.14 Mn |
| Dec 31, 2023 | 224.92 Mn |
| Oct 1, 2023 | 933.11 Mn |
| Jun 30, 2023 | 226.78 Mn |
API Access
Grail Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=GRAL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "GRAL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=GRAL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();