Second Quarter Revenue Grew 43% Year-Over-Year to $32.0 Million Portfolio Prioritization and Corporate Restructure Extends Cash Runway into 2028 MENLO PARK, Calif. , Aug.
13, 2024 /PRNewswire/ -- GRAIL, Inc. (Nasdaq: GRAL ), a healthcare company whose mission is to detect cancer early when it can be cured, today reported business and financial results for the second quarter 2024. Revenue in the second quarter was $32.
0 million , representing 43% growth year over year. Net loss for the quarter, which includes amortization and impairment of acquisition-related intangible items, was $(1.6) billion .
Our gross loss was $(17.9) million . Non-GAAP adjusted gross profit was $16.
0 million and Non-GAAP adjusted EBITDA was $(139.4) million . 1 "GRAIL completed the separation from Illumina on June 24, 2024 , and we are pleased to report our quarterly results for the first time as an independent public company.
In the second quarter of 2024, GRAIL continued to deliver U.S. commercial growth, and as of June 30 , we have sold more than 215,000 Galleri® tests.
We are focused on detecting cancer early, when it can be cured, and are committed to serving Galleri patients, providing support for ordering physicians, advancing our commercial and research partnerships, and building our clinical and real-world evidence base," said Bob Ragusa , Chief Executive Officer at GRAIL. "We have an unprecedented opportunity to establish a new standard of care by adding Galleri to existing single-cancer scre.