GRAL at a glance
GRAIL, Inc. (GRAL, SEC CIK 1699031) filed its latest 10-K annual report on March 12, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on August 5, 2026 and Form 4 insider filings as recently as September 23, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), GRAIL, Inc. (GRAL) reported revenue of $147.2 million (up 17.2% from FY2024) and a net loss of $408.4 million. Diluted EPS was -$11.11.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding GRAIL, Inc. (GRAL) shares worth $963.4 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Ofman Joshua J. on September 21, 2026 of 1,400 shares at $97.84 per share.
- In the last 90 days, GRAL insiders reported 0 open-market purchases ($0) and 13 open-market sales ($7.5M) on Form 4, a net sale of $7.5M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $147.2M
- +17.2% vs prior year
- Insiders · 90 days
- 0 buys · 13 sells
- Net −$7.5M
- 13F holders
- 31 funds
- $963.4M · −2 vs prior quarter
- Latest 8-K
- Aug 5, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Commercial-stage healthcare company focused on multi-cancer early detection (MCED) via Galleri blood-based screening test
- New emphasis: 2026 PMA submission to FDA based on PATHFINDER 2 and NHS-Galleri Trial data; Medicare coverage pathway established under new federal law
- Strategic shift: Scaling commercial operations with automated Galleri version launched late 2024; expanding international presence in Israel, Canada, South Korea
- Notable metric: Over 475,000 Galleri tests sold by end of 2025, processing >800,000 total tests across clinical and commercial programs
- Distinctive fact: NHS-Galleri Trial results in 140,000+ participants showed >20% stage 4 cancer diagnosis reduction despite missing primary endpoint, informing ongoing UK NHS evaluation
Risk Factors
- Regulatory risk from Illumina Supply Agreement royalties commencing December 24, 2026, potentially increasing costs and impacting margins
- U.S. market concentration with majority Galleri sales domestically, risk from limited broad reimbursement and pricing pressure from discounts and rebates
- Operational risk from scaled platform leveraged by demand growth, but reduced investment in DAC and other product development beyond Galleri
- Competitive risk from need to drive Galleri awareness post-positive study results, facing market competition in cancer screening tests
- Financial risk from goodwill and intangible assets impairment review triggered by valuation changes since Illumina acquisition and pushdown accounting adjustments
Management Discussion & Analysis
- Revenue not explicitly stated; commercial Galleri tests sold: 475,000 through 2025, including 185,000 in 2025
- Net losses $408.4M (2025) vs $2.0B (2024) vs $1.5B (2023); Adjusted EBITDA $(320.6)M (2025) vs $(483.5)M (2024)
- Equity raises: $311.3M net from $325M PIPE in Oct 2025; $107.5M net from ATM program shares in 2025; $110M equity investment from Samsung pending
- Management expects continued operating losses due to R&D and commercialization investment; FDA PMA submission ongoing with trial results supporting product performance
AI summary of the GRAL 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Risk Factors
- New securities litigation risk triggered by June 2026 Robbins class action alleging NHS-Galleri trial misstatements
- New governance risk from June 2026 Augitto derivative action alleging fiduciary-duty breaches over NHS-Galleri disclosures
- Regulatory and clinical risk: NHS-Galleri Trial missed its primary endpoint for statistically significant combined Stage 3 and 4 reduction
- Market risk: February 2026 trial announcement caused a next-day stock-price decline
- Shareholder activism risk following adverse NHS-Galleri results, potentially affecting strategy, capital allocation, or governance
AI summary of the GRAL 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 results for quarter ended June 30, 2026
- Press release issued August 5, 2026
Item EX-99.1: Item EX-99.1
- Q2 revenue rose 26% to $44.7M; Galleri revenue increased 24% to $42.6M on test volume growth of 35% to over 61,000
- First-half Galleri revenue reached $82.5M, up 30%, while volume exceeded 117,000, up 42%
Item 5.07: Submission of Matters to a Vote of Security Holders
- 35,076,394 shares represented, establishing quorum from 42,916,593 eligible shares
- Sarah Krevans and Steven Mizell elected Class II directors through 2029
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Joshua Ofman became GRAIL’s principal executive officer effective June 1, 2026
- Annual base salary set at $800,000, with target variable compensation increased to 100% from 60%
Item 8.01: Other Events
- Investor presentation posted May 31, 2026, providing updated company information for shareholders
- Exhibit 99.1 contains the substantive presentation and should be reviewed for financial or strategic disclosures
AI summaries of GRAL 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for GRAL
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Ofman Joshua J. | Sell | Sep 21, 2026 | 1,400 | $97.84 |
| Ofman Joshua J. | Sell | Sep 21, 2026 | 37,752 | $94.98 |
| Ofman Joshua J. | Sell | Sep 21, 2026 | 6,200 | $96.43 |
| Ofman Joshua J. | Sell | Sep 21, 2026 | 2,125 | $92.32 |
| Ofman Joshua J. | M | Sep 21, 2026 | 26,452 | $14.00 |
| Freidin Aaron | Sell | Sep 21, 2026 | 521 | $95.00 |
| Freidin Aaron | Sell | Sep 21, 2026 | 1,800 | $93.92 |
| Ofman Joshua J. | Sell | Sep 21, 2026 | 1,454 | $93.61 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $125.6M | $147.2M |
| Operating Income | -$1.5B | -$2.2B | -$562.2M |
| Net Income | -$1.5B | -$2.0B | -$408.4M |
| Op. Margin | - | -1743.0% | -382.0% |
| Net Margin | - | -1613.9% | -277.5% |
| Balance Sheet | |||
| Total Assets | - | $3.0B | $2.9B |
| Equity | - | $2.5B | $2.6B |
| ROE | - | -81.0% | -15.8% |
| Per Share | |||
| EPS | - | $-63.54 | $-11.11 |
| Cash Flow | |||
| Operating CF | -$595.8M | -$577.2M | -$299.0M |
| CapEx | $12.9M | $5.2M | $909K |
Source: XBRL data in GRAIL, Inc. (GRAL)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate GRAL share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $963.4M |
| Q1 2026 | 33 | $645.7M |
| Q4 2025 | 31 | $1.06B |
| Q3 2025 | 31 | $582.0M |
| Q2 2025 | 29 | $526.0M |
| Q1 2025 | 24 | $170.3M |
| Q4 2024 | 20 | $91.3M |
| Q3 2024 | 15 | $29.5M |
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Source: 13F-HR filings on SEC EDGAR (aggregated from 214 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
GRAL filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 23, 2026 | - | - | - |
| 4 | Sep 23, 2026 | - | - | - |
| 4 | Aug 31, 2026 | - | - | - |
| 4 | Aug 31, 2026 | - | - | - |
| SC 13G | Aug 7, 2026 | - | - | |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 4 | Jul 16, 2026 | - | - | - |
| 4 | Jul 16, 2026 | - | - | - |
| 4 | Jul 16, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 8-K | Jun 22, 2026 | - | Analysis | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 5, 2026 | - | - | |
| 4 | Jun 3, 2026 | - | - | |
| 8-K | Jun 1, 2026 | - | Analysis | |
| 10-Q | May 7, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | May 5, 2026 | - | Analysis | - |
| 4 | Apr 17, 2026 | - | - | - |
| 4 | Apr 17, 2026 | - | - | - |
| 4 | Apr 17, 2026 | - | - | - |
| 4 | Apr 9, 2026 | - | - | - |
| 4 | Apr 9, 2026 | - | - | - |
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GRAL SEC filings: frequently asked questions
Are GRAL insiders buying or selling?
In the last 90 days, GRAIL, Inc. (GRAL) officers, directors and 10% owners reported no open-market purchases and 13 open-market sales worth $7.5 million by 2 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold GRAL stock?
As of June 30, 2026, the largest GRAIL, Inc. (GRAL) holders among the 13F filers tracked by SignalX were BlackRock ($244.2 million), State Street Corp ($162.9 million), Vanguard Capital Management LLC ($112.0 million), Morgan Stanley ($99.8 million), Goldman Sachs Group ($51.1 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was GRAL's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), GRAIL, Inc. (GRAL) reported revenue of $147.2 million (up 17.2% from FY2024) and a net loss of $408.4 million. Diluted EPS was -$11.11. The figures come from the XBRL data in the 10-K.
What are the main risks in GRAL's latest 10-K?
In the 10-K filed March 12, 2026, GRAIL, Inc. (GRAL) flagged: Regulatory risk from Illumina Supply Agreement royalties commencing December 24, 2026, potentially increasing costs and impacting margins. U.S. market concentration with majority Galleri sales domestically, risk from limited broad reimbursement and pricing pressure from discounts and rebates. (AI summary of the Risk Factors section.)
What did GRAL report in its latest 8-K?
GRAIL, Inc. (GRAL) filed an 8-K on August 5, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Q2 2026 results for quarter ended June 30, 2026.
What are the latest GRAL SEC filings?
GRAIL, Inc. (GRAL) filed its latest 10-K annual report on March 12, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on August 5, 2026 and a Form 4 insider filing on September 23, 2026.
What is GRAL's SEC CIK number?
GRAIL, Inc. (GRAL)'s SEC Central Index Key (CIK) is 1699031. EDGAR lists every GRAL filing under that number.
Ask anything about GRAL
The research agent reads GRAL's filings, financials, insider trades and 13F holders, then answers with sources.