NET LOSS PER SHARE

6 Months Ended

Jun. 30, 2024

Prior to the completion of the Spin-Off from Illumina, the Company had no common shares issued and outstanding. In connection with the Spin-Off, on June 24, 2024, there were 31.0 million shares of GRAIL common stock distributed to Illumina stockholders. This share amount is utilized for the calculation of basic and diluted earnings per share for all periods presented prior to the Spin-Off. For the three and six months ended June 30, 2024 and July 2, 2023, these shares are treated as issued and outstanding for purposes of calculating historical earnings per share. Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share, as the inclusion of all potential shares of common stock outstanding would have been anti-dilutive. For the three and six months ended June 30, 2024 and July 2, 2023 the amount of common stock equivalents excluded from the calculation of diluted net loss per share for the periods presented was 6.7 million shares of common stock equivalents.

The following table presents the calculation of the Company’s basic and diluted net loss per share attributable to common stockholders:


	Three Months Ended				Six Months Ended
(in thousands, except share and per share data)	June 30, 2024		July 2, 2023		June 30, 2024		July 2, 2023
Numerator
Net loss	$	(1,585,337)	$	(193,044)	$	(1,804,251)	$	(386,710)
Denominator
Weighted average shares of common stock—basic and diluted	31,049,148		31,049,148		31,049,148		31,049,148
Net loss per share attributable to common stockholders
Basic	$	(51.06)	$(6.22)		$	(58.11)	$(12.45)
Diluted	$	(51.06)	$(6.22)		$	(58.11)	$(12.45)