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BillionToOne, Inc.

BLLN

BillionToOne is a molecular diagnostics company that utilizes a proprietary single-molecule next-generation sequencing (smNGS) platform to quantify genetic targets with extreme precision.

Market cap
$6.54B+48.6%
Revenue$397.4M+90.1%
Net income$37.7M+223%
Free cash flow$33.2M+223%
EPS (diluted)$0.70+123%
Trailing twelve months · change vs. prior year

Earnings

Next report

Oct 6, 2026 (in 2 months)
Revenue estimate$117.4M
EPS estimate$0.23

Financials

Q2 2026

Income statement

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Revenue$109.4M+64.4%
Gross profit$77.1M+77.4%
Operating income$5.5M+438%
Net income$8.1M+3,374%
EPS (diluted)$0.15+850%

Balance sheet

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Cash & equivalents$548.6M+190%
Total debt$143.9M
Total equity$536.8M+315%
Total assets$729.7M

Cash flow

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Operating cash flow$9.1M+673%
CapEx$4.0M+40.9%
Free cash flow$5.1M+401%

Valuation & ratios

Valuation

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Market cap$6.54B+48.6%
Enterprise value$6.14B
P/E173.5×
P/S16.5×

Profitability

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Gross margin71.3%+10.3pp
Operating margin10.9%+7.0pp
Net margin9.5%+5.9pp
FCF margin8.3%

Returns & leverage

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Debt / equity0.3×
Current ratio11.7×

Segments

By product

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Prenatal$94.2M+54.9%
Oncology$13.7M+176%
Clinical trial support and other services$1.5M+98.6%

Competitors

Profile

BillionToOne is a molecular diagnostics company that utilizes a proprietary single-molecule next-generation sequencing (smNGS) platform to quantify genetic targets with extreme precision. The company leverages its patented Quantitative Counting Templates (QCTs) to overcome technical noise in cell-free DNA analysis, enabling high-sensitivity liquid biopsies. Its core value proposition lies in providing actionable clinical insights from simple blood draws for prenatal care and oncology.

Competitive position

BillionToOne is a leader in the NIPT market for recessive conditions and a high-growth challenger in the oncology liquid biopsy space through its unique single-molecule quantification technology.

GeographiesUnited States
Customer segmentsHealthcare Providers, Specialty Clinics, Hospitals
Business modelDirect-to-clinician diagnostic services, Laboratory Developed Tests (LDT), Precision medicine platform
SuppliersNGS sequencing hardware manufacturers, Reagent and chemical suppliers, Bioinformatics software providers
CustomersPhysicians, Medical centers, Health insurance payors, Patients

FAQ

What is BillionToOne, Inc.'s market cap?
BillionToOne, Inc. (BLLN) has a market capitalization of $6.5B and trades on NASDAQ.
What is BillionToOne, Inc.'s revenue and profitability?
BillionToOne, Inc. generated $397.4M in trailing twelve-month revenue with net income of $37.7M, representing a net margin of 9.5%. Gross margin stands at 71.3%, with free cash flow of $33.2M. These figures are based on the Q2 2026 filing.
Who are BillionToOne, Inc.'s competitors?
BillionToOne, Inc.'s key competitors include Natera, Inc., Guardant Health, Inc., Illumina, Inc., and others. These companies compete in similar markets and product categories.
Where is BillionToOne, Inc. headquartered?
BillionToOne, Inc. is headquartered in United States of America. It has been publicly traded since 2025.