GRAIL reported third quarter 2026 financial results with revenue of $37.5 million, missing the consensus estimate of $44.21 million. While total revenue grew 4% year-over-year, the core Galleri test revenue increased 14% to $37.3 million. Despite the revenue miss, the company reported a narrower-than-expected net loss per share of $2.21 compared to the estimated $2.78 loss, aided by a higher weighted-average share count.
Key Highlights
- Galleri test volume reached over 56,000 for the quarter, representing a 24% increase over the third quarter of 2025.
- The FDA Advisory Committee voted in favor of Galleri's approval in September, with a formal regulatory decision now anticipated by early first quarter 2027.
- Adjusted EBITDA loss widened to $92.6 million from $71.7 million in the prior year, driven by increased commercialization efforts and clinical trial expenses.
- The company maintains a strong liquidity position with $788.7 million in cash, cash equivalents, and short-term marketable securities as of September 30, 2026.