Galleri Revenue Grew 52% Year-Over-Year to $25.4 Million Commercial Galleri Sales Surpassed 250,000 Tests Since Launch Cash Balance of $853.6 Million Provides Runway Into 2028 MENLO PARK, Calif.
, Nov. 12, 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 third quarter 2024.
Revenue in the third quarter was $28.7 million , representing 38% growth year over year, and revenue for Galleri was $25.4 million , representing 52% growth year over year.
Net loss for the quarter was $(125.7) million , which includes amortization of Illumina acquisition-related intangible items of $34.6 million and a restructuring charge of $19.
0 million . Gross loss was $(22.2) million .
Non-GAAP adjusted gross profit was $11.8 million and non-GAAP adjusted EBITDA was $(108.2) million .
1 "In our first operating quarter as a public company, GRAIL continued to deliver U.S. commercial growth, with more than 250,000 Galleri ® tests sold as of September 30 .
Over the quarter, we reduced our expense base and continued to advance our mission," said Bob Ragusa , Chief Executive Officer at GRAIL. "We will continue to focus on cost management as we work towards completing our registrational studies to support our U.S.
FDA PMA submission and pursuing broad reimbursement." For the three months ended September 30, 2024, as compared to the three months ended October 1, 2023, GRAI.