Grail Q1 Revenues Rise 28 Percent on Galleri Test Growth
The early cancer detection firm reported Galleri test volume growth of 50 percent year over year, to more than 56,000 tests.
Grail said after the close of the market on May 5 that its first quarter revenues rose 28 percent year over year.
The Menlo Park, California-based multi-cancer early detection (MCED) company reported Q1 2026 revenue of $40.8 million, up from $31.8 million in Q1 2025, beating the consensus Wall Street estimate of $39.2 million.
Screening revenue, which consists primarily of sales of the Galleri MCED test, grew 37 percent to $39.8 million from $29.1 million a year ago, as Galleri test volume rose 50 percent year over year to more than 56,000 tests. Development services revenue fell 65 percent to $953,000 from $2.7 million a year ago.
In Wednesday morning trading on the Nasdaq, shares of Grail were up 15 percent.
The company’s net loss for the quarter was $93.2 million, or $2.29 per share, compared to a loss of $106.2 million, or $3.10 per share, in Q1 2025, beating the consensus Wall Street estimate of $2.66 loss per share.
Grail’s R&D expenses fell 10 percent to $48.0 million from $53.6 million in Q1 2025. Sales and marketing expenses declined 12 percent to $30.7 million from $35.0 million a year ago. General and administrative expenses fell 5 percent to $42.8 million from $45.1 million a year ago.
“Grail continues to execute commercially, with strong volume growth in Q1,” CEO Bob Ragusa said in a statement. “We are looking forward to our upcoming presentations of detailed results from our 35,000 [subject] PATHFINDER 2 study and the 140,000 [subject] NHS-Galleri trial, which were accepted for presentation at the 2026 ASCO Annual Meeting in late May.”
As of March 31, Grail had $69.3 million in cash and cash equivalents, $753.8 million in short-term marketable securities and $7.0 million in restricted cash.