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Financials · BLLN

BillionToOne Inc. (BLLN) financials

For the twelve months ended Sep 30, 2026, BillionToOne Inc. reported $436.87M of revenue and $49.39M of net income.

Revenue, TTM
$436.87M
Revenue growth, YoY
+71.9%
Net income, TTM
$49.39M
Net margin
11.3%
Free cash flow, TTM
$33.90M
Cash
$561.51M
Total debt
$88.98M
P/E
110.21
P/S
12.46
Market cap
$5.44B
Annual revenue$305.11M
FY2023FY2025
Annual net income$7.45M
FY2023FY2025
Annual free cash flow$15.71M
FY2023FY2025

BLLN revenue and earnings growth

BLLN revenueQ3 2026$122.98M

Quarter YoY
+47.2%
QoQ
+12.4%
FY YoY
+100.0%

BLLN revenue was $122.98M in fiscal Q3 2026 (ended Sep 30, 2026), up 47.2% from a year earlier and up 12.4% from the prior quarter. For the full fiscal 2025 it was $305.11M, up 100.0% from fiscal 2024.

BLLN net incomeQ3 2026$17.39M

Quarter YoY
+204.5%
QoQ
+115.9%

BLLN net income was $17.39M in fiscal Q3 2026 (ended Sep 30, 2026), up 204.5% from a year earlier and up 115.9% from the prior quarter. For the full fiscal 2025 it was $7.45M, compared with -$41.57M in fiscal 2024.

BLLN EPSQ3 2026$0.32

QoQ
+113.3%

BLLN diluted EPS was $0.32 in fiscal Q3 2026 (ended Sep 30, 2026), up 113.3% from the prior quarter. For the full fiscal 2025 it was $0.14.

BLLN free cash flowQ3 2026$8.60M

Quarter YoY
+9.2%
QoQ
+69.1%

BLLN free cash flow was $8.60M in fiscal Q3 2026 (ended Sep 30, 2026), up 9.2% from a year earlier and up 69.1% from the prior quarter. For the full fiscal 2025 it was $15.71M, compared with -$46.78M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Revenue$305.11M$152.58M$71.73M
Cost of revenue$96.65M$71.67M$54.42M
Gross profit$208.46M$80.92M$17.31M
Research and development$49.38M$36.60M$22.41M
Selling, general and admin$143.05M$91.47M$64.39M
Operating income$16.02M-$47.15M-$69.50M
Interest expense$95.0K$2.39M$3.27M
Pre-tax income$7.76M-$41.54M-$82.67M
Income tax$305.0K$29.0K$9.0K
Net income$7.45M-$41.57M-$82.68M
EPS, basic$0.18-$4.12-$8.45
EPS, diluted$0.14-$4.12-$8.45
Diluted shares21.2M10.1M9.8M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Cash and equivalents$495.98M$191.48M$97.27M
Receivables$41.62M$24.71M-
Inventory$17.55M$8.73M-
Current assets$560.56M$227.82M-
Total assets$632.65M$302.06M-
Current liabilities$47.96M$28.39M-
Short-term debt$0$0-
Long-term debt$57.23M$51.48M-
Total debt$57.23M$51.48M-
Total liabilities$152.55M$134.31M-
Shareholders' equity$480.11M-$251.66M-$219.05M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Operating cash flow$24.59M-$41.38M-$53.67M
Capital expenditures$8.88M$5.40M$6.17M
Free cash flow$15.71M-$46.78M-$59.85M
Investing cash flow-$8.92M-$5.43M$82.84M
Financing cash flow$288.82M$141.02M$13.40M
Share repurchases$0$546.0K$0
Stock-based compensation$15.91M$8.36M$4.85M
Depreciation and amortization$6.90M$7.00M$5.90M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
Revenue growth, YoY100.0%112.7%-
Gross margin68.3%53.0%24.1%
Operating margin5.3%-30.9%-96.9%
Net margin2.4%-27.2%-115.3%
Free cash flow margin5.2%-30.7%-83.4%
Return on equity1.6%--
Return on assets1.2%-13.8%-
Current ratio11.698.03-
Debt to equity0.12--

Source: XBRL data BillionToOne Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

BLLN peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
BLLN$436.87M+71.9%$49.39M11.3%$5.44B
UNH$449.66B+3.3%$15.88B3.5%$353.17B
ELV$201.83B+3.6%$5.13B2.5%$91.96B
CI$286.32B+6.8%$5.99B2.1%$77.58B
HUM$154.19B+22.0%$1.25B0.8%$52.08B
NTRA$2.91B+37.4%-$164.71M-5.7%$44.78B
CNC$203.90B+9.7%$1.46B0.7%$34.53B
ILMN$4.54B+5.8%$895.00M19.7%$32.22B
LH$14.59B+6.0%$1.00B6.9%$29.77B

BLLN FAQ

8 questions
  • What is BLLN revenue?
    BillionToOne Inc. (BLLN) reported $436.87M of revenue for the twelve months ended Sep 30, 2026. That is up 71.9% from the year before. Revenue for fiscal 2025 was $305.11M.
  • Is BLLN profitable?
    Yes. BillionToOne Inc. earned $49.39M in net income for the twelve months ended Sep 30, 2026, a net margin of 11.3%.
  • How much cash and debt does BLLN have?
    BillionToOne Inc. reported $561.51M in cash and cash equivalents and $88.98M of debt on its most recent balance sheet in SEC filings.
  • How fast is BLLN revenue growing?
    BillionToOne Inc.'s revenue changed +100.0% in fiscal 2025, to $305.11M.
  • What is BLLN gross margin?
    BillionToOne Inc.'s gross profit was $311.95M on $436.87M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 71.4%.
  • What is BLLN free cash flow?
    BillionToOne Inc. generated $33.90M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $47.91M less capital expenditures.
  • When did BLLN last report financial results?
    The latest statements here come from BillionToOne Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
  • Where does this BLLN financial data come from?
    Quantisnow builds these statements from the structured XBRL data BillionToOne Inc. files with the SEC. It is provided for information only and is not investment advice.