v3.25.3
RELATED PARTY TRANSACTIONS
 9 Months Ended
Sep. 30, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Illumina Purchases and Sales
The Company was a subsidiary of Illumina, Inc. between August 19, 2021 to June 23, 2024. Subsequent to the Spin-Off, Illumina retained a 14.5% stake in the Company. As of September 30, 2025, Illumina held 4,502,126 shares of common stock representing a 12.5% stake in the Company. Illumina is both a customer of the Company and a major supplier of the Company’s reagents and capital equipment. Goods and services transactions with Illumina are invoiced and paid when due.
Goods and services transactions with Illumina have been reflected in the unaudited condensed consolidated financial statements as follows:
(in thousands)September 30,
2025		December 31,
2024
Accounts receivable
$34 $65 
Supplies
975 3,130 
Prepaid expenses and other current assets
62 77 
Property and equipment, net
1,636 2,227 
Accounts payable
54 — 
Accrued liabilities
94 104 
Three Months Ended
Nine Months Ended
(in thousands)September 30,
2025		September 30,
2024		September 30,
2025		September 30,
2024
Screening revenue
$50 $129 $179 $366 
Cost of screening revenue
1,237 3,658 3,924 9,784 
Cost of development services revenue
78 143 260 259 
Operating expenses—Research and development
973 6,588 2,947 16,700 
Operating expenses—General and administrative
— 1 — 104 
In June 2024, the Company entered into an amendment to its Supply and Commercialization Agreement with Illumina. Under the terms of the amended agreement, regardless of whether its products incorporate any Illumina technology, the Company has agreed to pay to Illumina a high single-digit royalty, subject to certain reductions, in perpetuity on net sales generated by its products or revenues otherwise generated or received by the Company, subject to certain exceptions, in the field of oncology. Per the terms of the Separation and Distribution Agreement with Illumina, the royalty arrangement is suspended until the earlier of December 24, 2026 or any earlier change of control of the Company, at which time a high-single digit royalty payments will be payable.
Contributions from Member, Net
The following related party transactions between the Company and Illumina have been included in these unaudited condensed consolidated financial statements. As there was no intercompany loan agreement between Illumina and GRAIL and because these transactions had no history of being settled and were not settled per the terms of the Separation and Distribution Agreement, the total net effect of these transactions are reflected in the condensed consolidated statements of cash flows as cash provided by financing activities and in the condensed consolidated balance sheets as contributions from member, net, in member’s equity. The following table presents the components of the net transfers to and from Illumina prior to the Spin-Off:
Nine Months Ended
(in thousands)September 30,
2024
Cash funding received from Illumina$1,244,300 
Total contributions from member, net$1,244,300