GRAIL INC (NASDAQ:GRAL) Q3 2025 Earnings: Tops Revenue and EPS Estimates as Galleri Sales Climb

GRAIL INC (NASDAQ:GRAL) has released its financial results for the third quarter of 2025, presenting a performance that has resonated with investors, as evidenced by the stock's immediate after-market movement. The company, a commercial-stage healthcare firm focused on early cancer detection, reported figures that notably surpassed analyst expectations on key financial metrics, providing a fresh data point for the market to evaluate its growth trajectory and path toward profitability.

Earnings and Revenue Versus Expectations

The quarterly report card shows a clear beat on Wall Street's projections. The company's performance against estimates is detailed below.

• Revenue: The company reported revenue of $36.19 million, exceeding the analyst consensus estimate of $35.394 million.
• Earnings Per Share (EPS): The non-GAAP loss per share was reported at -$2.46, which was significantly better than the anticipated loss of -$3.59 per share that analysts had forecast.

This dual beat on both the top and bottom lines indicates not only stronger-than-expected sales but also a more controlled rate of cash burn than the market had priced in. For a growth-stage company like GRAIL, demonstrating progress toward narrowing losses is often viewed as a critical milestone by investors.

Market Reaction and Recent Performance

The market's initial response to the earnings release has been decisively positive. Following the announcement, the stock experienced an after-market surge of approximately 2.4%. This immediate price action suggests that investors were pleasantly surprised by the quarterly results and are re-evaluating the company's near-term financial health. Over the past month, the stock had already climbed over 12%, indicating building positive sentiment leading into the earnings report, which was then confirmed by the strong figures.

Key Highlights from the Quarter

Beyond the raw financial numbers, the company's press release highlighted several operational achievements that underpin its revenue growth.

• Galleri Test Sales: U.S. revenue from its flagship Galleri test, a multi-cancer early detection screening, grew 28% year-over-year to $32.6 million.
• Test Volume: The number of Galleri tests sold saw an even stronger increase, rising 39% compared to the same period last year to over 45,000 tests.

This growth in volume and revenue underscores the commercial adoption of the Galleri test. However, the press release also contained news of a regulatory timeline adjustment. The company now anticipates submitting its Pre-Market Approval (PMA) application to the FDA in the first quarter of 2026. While a delay from prior expectations, the market's focus appears to be squarely on the strong commercial execution demonstrated in the quarterly results.

Looking Ahead

With the third quarter in the books, attention now turns to the future. Analyst estimates for the upcoming quarter and full year provide a benchmark for GRAIL's continued progress.

• Q4 2025 Estimates: Analysts are projecting sales of $42.432 million and an EPS of -$4.00.
• Full-Year 2025 Estimates: For the entire fiscal year, the consensus sales estimate stands at $146.85 million.

The company did not provide its own formal financial outlook in the press release to compare against these figures. Therefore, the market's sustained reaction will depend on GRAIL's ability to maintain its current commercial momentum and meet or exceed these future expectations as it navigates the critical FDA submission process.

For a more detailed breakdown of historical earnings and future analyst estimates, you can review the data here.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. The information presented should not be taken as a recommendation to buy or sell any security. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions.