GRAIL Reports Q2 2025 Financial Results with 29% YoY Growth in Galleri Test Sales

GRAIL reported Q2 2025 financial results with total revenue up 11% YoY to $35.5mln, driven by a 21% increase in US Galleri test revenue to $34.2mln. The company sold over 45,000 Galleri tests, a 29% YoY growth, and achieved a net loss of $114mln. However, the adjusted EBITDA loss improved by 44% YoY to $78.3mln. GRAIL has collaborations with Everlywell and Rush University to expand test accessibility and maintains a solid liquidity position with $606.1mln in cash and equivalents.

In its second quarter (Q2) 2025 earnings report, GRAIL, Inc. (GRAL) showcased robust growth in its Galleri test sales and revenue, while also achieving notable improvements in its financial metrics. The company reported total revenue of $35.5 million, a 11% year-over-year (YoY) increase, driven primarily by a 21% YoY increase in U.S. Galleri test revenue to $34.2 million [1].

GRAIL sold over 45,000 Galleri tests in Q2 2025, marking a 29% YoY growth. This growth was fueled by the company's expanding partnerships, including a new collaboration with Everlywell, which allows the Galleri test to be requested directly via prescription on everlywell.com [2]. Additionally, Rush University System for Health became the first health system in the Chicago-area market to offer the Galleri test, further broadening accessibility.

Despite the impressive revenue growth, GRAIL reported a net loss of $114.0 million for the quarter. This net loss includes a $28.0 million impairment of Illumina acquisition-related intangible assets. However, the company's adjusted EBITDA loss improved by 44% YoY to $78.3 million, indicating a significant reduction in operating expenses [1].

GRAIL maintained a strong liquidity position, with $606.1 million in cash and equivalents at the end of the quarter. The company also provided an updated full-year 2025 cash burn guidance of "no more than $310 million," reflecting its ongoing efforts to manage expenses and optimize cash flow [1].

Management expressed satisfaction with the growing uptake of the Galleri test in the U.S. and emphasized the importance of their registrational milestones, including the PATHFINDER 2 study, which demonstrated enhanced cancer detection when Galleri was added to standard care screening [2].

In summary, GRAIL's Q2 2025 earnings report highlights the company's strong commercial momentum and expanding partnerships, while also showcasing its commitment to financial discipline and operational efficiency.

References:
[1] https://seekingalpha.com/news/4484350-grail-updates-2025-cash-burn-guidance-to-310m-amid-rising-galleri-test-adoption-and-expanded
[2] https://www.tradingview.com/news/tradingview:467adc83d4dd9:0-grail-reports-second-quarter-2025-financial-results/