Earnings Releases·Nov 4, 2026, 4:05 PM ET

GRAIL — Third Quarter 2026 Earnings Summary

Total revenue increased 4% year-over-year to $37.5 million for Q3 2026, driven by a 14% rise in Galleri test revenue to $37.3 million, while net loss widened 16% to $103.6 million and non-GAAP adjusted gross margin declined to 42%.
The company anticipates an FDA decision regarding the Galleri test by early Q1 2027, following a favorable vote by the FDA's Molecular and Clinical Genetics Panel in September.
Commercial momentum remains strong with Galleri test volume growing 36% year-over-year to over 174,000 tests in the first nine months of 2026, supported by cash and short-term marketable securities totaling $788.7 million.
Management highlighted significant clinical data from the NHS-Galleri trial and PATHFINDER 2 study, noting a >20% reduction in Stage IV diagnoses and robust performance, though the test remains pending final FDA clearance.