What is BillionToOne, Inc. 's free cash flow margin?

BillionToOne, Inc. (BLLN) reported free cash flow margin of -83.4% in Q4 2023.

What does free cash flow margin mean?

Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

BillionToOne, Inc. BLLN Free cash flow margin

Free cash flow margin at other companies

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9.8%+1.0pp

IlluminaILMN

22.2%+2.0pp

Guardant HealthGH

-22%-6.7pp

Natera, Inc.NTRA

4.2%-0.5pp

Tempus AI, Inc.TEM

-54.5%—

Lantheus HoldingsLNTH

24.4%-6.4pp

Other financials

Income statement

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Revenue$108.4M+83.8%

Gross profit$79.1M+108%

Operating income$17.8M+870%

Net income$18.0M+551%

EPS (diluted)$0.34+187%

Balance sheet

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Cash & equivalents$537.5M+181%

Total debt$144.2M—

Total equity$505.6M+300%

Total assets$700.7M—

Cash flow

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Operating cash flow$15.4M+488%

CapEx$4.5M+90.5%

Free cash flow$11.0M+3,842%

Valuation

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Market cap$4.84B—

Enterprise value$4.44B—

P/E163.1×—

P/S13.6×—

Profitability

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Gross margin70.4%—

Operating margin-96.9%—

Net margin8.4%—

Returns & leverage

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Return on equity23.5%—

Debt / equity0.3×—

Current ratio10.9×—

Where this comes from

Calculated from BillionToOne, Inc. ’s reported figures.

free cash flow/total revenue=-83.4%

Based on trailing twelve months.

The official record: BillionToOne, Inc. ’s 10-K, filed March 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is BillionToOne, Inc. 's free cash flow margin?: BillionToOne, Inc. (BLLN) reported free cash flow margin of -83.4% in Q4 2023.
What does free cash flow margin mean?: Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.