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| 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 |