Grail (GRAL) Operating Expenses (2023 - 2026)
Grail's (GRAL) quarterly Operating Expenses came in at $218.5 million in Q2 2026, up 12.38% on a YoY basis from $194.4 million in Q2 2025, and up 23.74% quarter-over-quarter from $176.5 million in Q1 2026.
Analysis
Grail (GRAL) Operating Expenses (2023 - 2026) Analysis & Trends
Grail (GRAL) has reported Operating Expenses for 4 consecutive years, with $218.5 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses rose 12.38% year-over-year to $218.5 million; the trailing twelve-month figure through Jun 2026 stood at $724.5 million (down 5.56% YoY), and the FY2025 full-year result was $709.3 million, down 69.36% from the prior year.
- Operating Expenses improved to $218.5 million in Q2 2026 per GRAL's latest filing, from $176.5 million in the prior quarter.
- Across five years, Operating Expenses topped out at $1.7 billion in Q2 2024 and bottomed at $161.5 million in Q3 2025.
- Historically, Operating Expenses has averaged $369.5 million across 4 years, with a median of $212.2 million in 2024.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses jumped 637.83% in 2024, then sank 88.38% in 2025.
- Over 4 years, Operating Expenses stood at $224.9 million in 2023, then decreased by 22.11% to $175.2 million in 2024, then fell by 4.1% to $168.0 million in 2025, then surged by 30.04% to $218.5 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $218.5 million, $176.5 million, and $168.0 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Natera | 53.05 Bn | 51.95 Bn | 486.15 Mn | 828.54 Mn |
| 2 | Quest Diagnostics | 27.19 Bn | 26.87 Bn | 1.03 Bn | 2.58 Bn |
| 3 | Labcorp Holdings | 25.93 Bn | 25.81 Bn | 1.11 Bn | 582.30 Mn |
| 4 | Guardant Health | 23.97 Bn | 22.91 Bn | 219.03 Mn | 464.10 Mn |
| 5 | Tempus AI | 13.64 Bn | 12.82 Bn | 274.25 Mn | 458.40 Mn |
| 6 | Caris Life Sciences | 8.47 Bn | 7.68 Bn | 182.38 Mn | 236.79 Mn |
| 7 | Sotera Health | 5.35 Bn | 4.99 Bn | 177.96 Mn | 68.16 Mn |
| 8 | BillionToOne | 4.96 Bn | 4.41 Bn | 77.11 Mn | 71.60 Mn |
| 9 | Adaptive Biotechnologies | 4.55 Bn | 4.21 Bn | 51.39 Mn | 87.32 Mn |
| 10 | Grail | 3.61 Bn | 2.75 Bn | 21.34 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 |