BillionToOne, Inc.
The stored financial sources have not been reconciled. Differences can involve reporting periods, currencies, continuing operations or income attributable to different owners. A model rating is withheld until the figures are compared on a consistent basis.
BLLN · Price history
Price at last available close
$116.19
−$5.53 (-4.54%) 1M
2026-10-28
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Company & revenue
About BillionToOne, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
BillionToOne, Inc. is a specialized diagnostics company that innovates by precisely quantifying biological data to create advanced molecular diagnostic solutions. Central to their operations is a cutting-edge molecular counting platform, meticulously engineered to identify and measure individual DNA molecules, thereby significantly enhancing the precision of disease detection. Their product portfolio includes: UNITY Complete: A non-invasive prenatal screen that assesses a fetus's risk for aneuploidies, recessive genetic conditions, and fetal antigens, all from a simple maternal blood sample.
How they make money
BillionToOne generates revenue primarily through the sale of its proprietary molecular diagnostic testing services. The company utilizes its molecular counting platform to perform non-invasive prenatal screening and liquid biopsy tests, billing healthcare providers, patients, and third-party payors for these diagnostic services.
Products & services
The company offers UNITY Complete, a non-invasive prenatal screen for fetal risk assessment, and Northstar Select and Northstar Response, which are liquid biopsy tests for cancer mutation detection and therapy monitoring.
Brands & revenue mix
Non-invasive prenatal screening test.
Separate brand revenue is not available in this research.Source
Liquid biopsy test for mutation detection.
Separate brand revenue is not available in this research.Source
Methylation-based assay for therapy monitoring.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
The company's 2025 10-K filing indicates that it does not have a single customer that accounts for more than 10% of its total revenue, reflecting a diversified base of healthcare providers and payors.
Suppliers, materials & equipment
- Laboratory reagents and sequencing equipment providers — The company relies on third-party suppliers for essential laboratory reagents, consumables, and next-generation sequencing equipment used in its diagnostic assays.Source
Competitors
- Natera, Inc. — Competes in the non-invasive prenatal testing and oncology diagnostics markets.Source
Strengths
- Proprietary molecular counting platform technologySource
Sources
Company-specific research
Questions worth answering for BLLN
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can BLLN maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is BLLN's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •How is BLLN likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
- •What future growth or profitability would be needed to justify BLLN's current valuation?
- •What does the current fundamental change risk warning mean for the reliability or interpretation of BLLN's score?
Essential Investment Snapshot
Market Cap
$5.44B
EPS
$0.69
52-Week High
$150.44
52-Week Low
$61.96
Beta
0.34
Analyst Target
$128.00
Shares Outstanding
45.8M
Total Debt
$143.9M
Dividend
No current dividend
Liquidation Value / Share
$11.72
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Building upward momentum
Normal movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Community Sentiment
0 active · 0 total callsNo personal call yet on BLLN.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Proprietary molecular counting platform technology.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Medical - Diagnostics & Research industry.
- −Dependence on third-party payor reimbursement policies.
- −Intense competition in the molecular diagnostics industry.
- −Diluted weighted-average shares increased 21.8% year over year.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
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Score Changes
Score changes will appear once more historical records are available.
Price vs. Value
OvervaluedCurrent Price
$115.38
Model Intrinsic Value
$26.57
Difference
+$88.81
+334.3% vs IV
Margin of Safety
-334.3%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Large reported revenue change: +100.0%
Revenue changed sharply from 2024 to 2025. This can reflect a real business change, acquisition, divestiture, discontinued operations, restatement, or reporting-basis change. Compare the underlying filing before treating it as normal growth or decline.
TTM may combine quarters from before and after the event, so its trend can also be distorted.
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Revenue | $397.4M | $305.1M | $152.6M | $71.7M |
| Cost of Revenue | $114.2M | $96.7M | $71.7M | $54.4M |
| Gross Profit | $283.2M | $208.5M | $80.9M | $17.3M |
| Research & Development | $59.2M | $49.4M | $36.6M | $22.4M |
| SG&A Expenses | $180.7M | $143.1M | $91.5M | $64.4M |
| Operating Expenses | $239.9M | $192.4M | $128.1M | $86.8M |
| EBITDA | $50.2M | $19.8M | -$27.5M | -$72.9M |
| Operating Income | $43.3M | $16.0M | -$47.1M | -$69.5M |
| Interest Expense | $41K | $95K | $2.4M | $3.3M |
| Income Before Tax | $37.9M | $7.8M | -$41.5M | -$82.7M |
| Income Tax Expense | $194K | $305K | $29K | $9K |
| Net Income | $37.7M | $7.5M | -$41.6M | -$82.7M |
| Basic EPS | $0.72 | $0.06 | $-0.93 | $-1.85 |
| Basic Shares | 46.40M | 45.80M | 44.72M | 44.72M |
| Diluted Shares | 54.46M | 45.80M | 44.72M | 44.72M |
Earnings Summary
Revenue
$109.4M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.15
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+34.9%
Cash Change
+190.3%
Margin Change
+7.7 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Cash position grew
What Weakened
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, cash levels, net income margin. Pressure indicators included EPS growth, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 64.4%. EPS declined 2827.3%. Cash increased 190.3%. Total debt increased 34.9%. Net income margin improved by 7.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
23
Smart Money
23
Number of Gurus
1
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
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Start 7-Day Free TrialHistorical Trends
8 historical recordsHistorical Score Chart
3 of 8 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Medical - Diagnostics & ResearchNews
BillionToOne (BLLN) Reports Next Week: Wall Street Expects Earnings Growth
BillionToOne to Participate in Two Upcoming Investor Conferences
Billiontoone (NASDAQ:BLLN) CEO Sells $516,184.50 in Stock
BillionToOne to Report Third Quarter 2026 Financial Results on November 4, 2026
Rumor Mill · BLLN
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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