Grail (GRAL) Operating Expenses (2023 - 2026)
Grail (GRAL) posted Operating Expenses of $176.5 million for Q1 2026, up 5.08% quarter-over-quarter from $168.0 million in Q4 2025, and down 4.8% year-on-year from $185.4 million in Q1 2025.
Grail (GRAL) Operating Expenses (2023 - 2026) Analysis & Trends
Grail (GRAL) has reported Operating Expenses for 4 consecutive years, with $176.5 million the latest figure, recorded in Q1 2026.
- Operating Expenses for Q1 2026 came in at $176.5 million, down 4.8% year-over-year; the trailing twelve-month figure through Mar 2026 was $700.4 million (down 68.81% YoY), and the FY2025 annual result was $709.3 million, down 69.36% from the prior year.
- Operating Expenses was $176.5 million for Q1 2026 at Grail, up from $168.0 million in the prior quarter.
- Over five years, Operating Expenses peaked at $1.7 billion in Q2 2024 and troughed at $161.5 million in Q3 2025.
- Average Operating Expenses over 4 years is $382.1 million, with a median of $203.3 million recorded in 2024.
- Year-over-year, Operating Expenses surged 637.83% in 2024 and slumped 88.38% in 2025.
- Over 4 years, Operating Expenses stood at $224.9 million in 2023, then slipped by 22.11% to $175.2 million in 2024, then retreated by 4.1% to $168.0 million in 2025, then climbed by 5.08% to $176.5 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $176.5 million in Q1 2026, $168.0 million in Q4 2025, and $161.5 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Waters | 31,055.11 Bn | 31,054.65 Bn | 1.11 Bn | 1.31 Bn |
| 2 | Thermo Fisher Scientific | 191.02 Bn | 187.77 Bn | 7.74 Bn | 9.14 Bn |
| 3 | Danaher | 137.16 Bn | 131.47 Bn | 3.59 Bn | 2.25 Bn |
| 4 | Idexx Laboratories | 42.82 Bn | 42.62 Bn | 722.74 Mn | 360.15 Mn |
| 5 | Natera | 39.09 Bn | 37.99 Bn | 696.04 Mn | 790.16 Mn |
| 6 | Agilent Technologies | 37.61 Bn | 35.81 Bn | 990.00 Mn | 1.44 Bn |
| 7 | Iqvia Holdings | 34.23 Bn | 32.25 Bn | 1.36 Bn | 553.00 Mn |
| 8 | Illumina | 28.14 Bn | 26.98 Bn | 721.00 Mn | 512.00 Mn |
| 9 | Mettler Toledo International | 26.40 Bn | 26.33 Bn | 555.82 Mn | 316.87 Mn |
| 10 | Grail | 2.77 Bn | 1.94 Bn | 10.12 Mn | 176.55 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |