Grail (GRAL) Operating Expenses (2023 - 2026)

Grail's (GRAL) quarterly Operating Expenses came in at $176.5 million in Q1 2026, down 4.8% YoY from $185.4 million in Q1 2025, and up 5.08% on a QoQ basis from $168.0 million in Q4 2025.

Grail (GRAL) Operating Expenses (2023 - 2026) Analysis & Trends

Grail (GRAL) has 4 years of Operating Expenses data on file, last reported at $176.5 million in Q1 2026.

  • Quarterly Operating Expenses fell 4.8% year-over-year to $176.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $700.4 million (down 68.81% YoY) and the FY2025 annual result came in at $709.3 million, down 69.36% from the prior year.
  • Operating Expenses grew to $176.5 million in Q1 2026, from $168.0 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $1.7 billion in Q2 2024 to a low of $161.5 million in Q3 2025.
  • A 4-year average of $382.1 million and a median of $203.3 million in 2024 frame the typical range for Operating Expenses.
  • Annual changes were most pronounced in 2024 — Operating Expenses soared 637.83% — and 2025, when it plunged 88.38%.
  • Tracing GRAL's Operating Expenses over 4 years: stood at $224.9 million in 2023, then fell by 22.11% to $175.2 million in 2024, then dropped by 4.1% to $168.0 million in 2025, then rose by 5.08% to $176.5 million in 2026.
  • The last three Operating Expenses figures came in at $176.5 million (Q1 2026), $168.0 million (Q4 2025), and $161.5 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Thermo Fisher Scientific 213.77 Bn 209.71 Bn 8.34 Bn 9.91 Bn
2 Danaher 139.78 Bn 135.43 Bn 3.61 Bn 2.48 Bn
3 Idexx Laboratories 46.04 Bn 45.85 Bn 779.09 Mn 353.52 Mn
4 Agilent Technologies 39.68 Bn 37.88 Bn 990.00 Mn 1.44 Bn
5 Iqvia Holdings 39.34 Bn 37.26 Bn 1.44 Bn 637.00 Mn
6 Natera 38.75 Bn 37.65 Bn 696.04 Mn 790.16 Mn
7 Illumina 29.90 Bn 28.73 Bn 770.00 Mn 525.00 Mn
8 Mettler Toledo International 28.58 Bn 28.53 Bn 650.22 Mn 321.77 Mn
9 Quest Diagnostics 26.18 Bn 25.55 Bn 1.03 Bn 2.58 Bn
10 Grail 3.01 Bn 2.19 Bn 19.54 Mn 176.55 Mn

Historic Data

Download Data
DateValue
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