{"id":815841,"date":"2025-02-20T16:10:26","date_gmt":"2025-02-20T21:10:26","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/grail-reports-fourth-quarter-and-full-year-2024-financial-results\/"},"modified":"2025-02-20T16:10:26","modified_gmt":"2025-02-20T21:10:26","slug":"grail-reports-fourth-quarter-and-full-year-2024-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/grail-reports-fourth-quarter-and-full-year-2024-financial-results\/","title":{"rendered":"GRAIL Reports Fourth Quarter and Full Year 2024 Financial Results"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n Sold More than 137,000 Galleri\u00ae<\/sup> Tests in 2024,\u00a0Growing U.S. Galleri Revenue 45% Year-Over-Year to $108.6 Million<\/span><\/i>
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\n Completed Study Visits for Two Registrational Studies in July to Support Modular PMA Submission for Galleri<\/i>
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\n On Track for Continued Commercial Growth in 2025 with TRICARE Coverage and Recent Announcement of Quest Integration <\/i>
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\n Moderated Cash Burn, Ending 2024 with a Cash Position of $767M<\/span>, Extending Runway into 2028<\/i>
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\n MENLO PARK, Calif.<\/span>
\n <\/span>, Feb. 20, 2025<\/span><\/span> \/PRNewswire\/ — GRAIL, Inc. (Nasdaq: GRAL), a healthcare company whose mission is to detect cancer early when it can be cured, today reported business and financial results for the fourth quarter and full year 2024 and provided business updates.<\/p>\n

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Fourth quarter revenue grew 26% year-over-year to $38.3 million<\/span>, and Galleri revenue grew 39% year over year to $31.6 million<\/span>. Net loss for the quarter was $97.1 million<\/span>, which includes amortization of Illumina acquisition-related intangible items of $34.6 million<\/span>. Gross loss was $16.0 million<\/span>. Non-GAAP adjusted gross profit was $17.9 million<\/span> and non-GAAP adjusted EBITDA was $(84.0) million<\/span>.1<\/sup><\/p>\n

For the full year, total revenue grew 35% year over year to $125.6 million<\/span>, and Galleri revenue grew 45% year over year to $108.6 million<\/span>. Net loss for the year was $2.0 billion<\/span>, which includes goodwill and intangible assets impairment of $1.4 billion<\/span> and amortization of Illumina acquisition-related intangible items of $138.3 million<\/span>. Gross loss was $78.0 million<\/span>. Non-GAAP adjusted gross profit was $57.8 million<\/span> and non-GAAP adjusted EBITDA was $(483.5) million<\/span>.1<\/sup><\/p>\n

Additionally, TRICARE Health Insurance recently added GRAIL’s Galleri multi-cancer early detection test as a covered benefit. The Galleri test will be covered for patients who are 50 years or older with an elevated risk for cancer. TRICARE is one of the largest health plans in the U.S. and serves active duty service members, National Guard and Reserve members, retirees and their families.<\/p>\n

“2024 was a transformational year for GRAIL as we completed the separation from Illumina in June 2024<\/span>, and completed study visits for our two registrational studies in July,” said Bob Ragusa<\/span>, Chief Executive Officer at GRAIL. “We executed a restructuring in the third and fourth quarters, and continue to focus on business efficiencies while also growing commercially. We plan to read out our registrational studies in 2025 and 2026 and complete our modular PMA submission in the first half of 2026.”<\/p>\n

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\n 1<\/sup>\u00a0See “Non-GAAP Disclosure” and the associated reconciliations for important information about our use of non-GAAP measures.<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

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For the three months ended December 31, 2024<\/span>, as compared to the three months ended December 31, 2023<\/span>, GRAIL reported:<\/p>\n