BillionToOne, Inc. BLLN
BillionToOne is transforming healthcare by redefining molecular diagnostics. Our revolutionary single molecule next-generation sequencing (smNGS) platform achieves what was once thought impossible—detecting and precisely quantifying genetic targets with single-molecule sensitivity. At the heart of this technological breakthrough lies our patented Quantitative Counting Templates (QCTs), enabling measurements at the physical limit of detection—the single DNA molecule. This leap forward addresses a fundamental limitation in healthcare—the inability to detect sparse but clinically crucial disease signals in cell-free DNA (cfDNA).
Our superior technology platform has enabled us to build category-defining prenatal and oncology products. Our products reveal actionable insights from a simple blood draw that are fundamentally changing how diseases are diagnosed and treated, leading to a paradigm shift in personalized medicine, overcoming the technical noise that restrains the traditional next-generation sequencing (NGS) testing methods used by other diagnostic companies. We believe our novel smNGS platform technologies combined with our AI-enhanced integrated workflow, allows us to push the technology frontier forward and deliver on the full promise of non-invasive liquid biopsy.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $305.1M | $152.6M | $71.7M | — |
| Cost of revenue | $96.7M | $71.7M | $54.4M | — |
| Gross profit | $208.5M | $80.9M | $17.3M | — |
| R&D | $49.4M | $36.6M | $22.4M | — |
| SG&A | $143.1M | $91.5M | $64.4M | — |
| Total operating expenses | $192.4M | $128.1M | $86.8M | — |
| Operating income | $16.0M | -$47.1M | -$69.5M | — |
| Interest expense | $95.0K | $2.4M | $3.3M | — |
| Pre-tax income | $7.8M | -$41.5M | -$82.7M | — |
| Income tax | $305.0K | $29.0K | $9.0K | — |
| Net income | $7.5M | -$41.6M | -$82.7M | — |
| EPS, basic | 0.18 | -4.12 | -8.45 | — |
| EPS, diluted | 0.14 | -4.12 | -8.45 | — |
| Shares, diluted (wtd. avg.) | 21.2M | 10.1M | 9.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $496.0M | $191.5M | $97.3M | $54.7M |
| Receivables | $41.6M | $24.7M | — | — |
| Inventory | $17.5M | $8.7M | — | — |
| Total current assets | $560.6M | $227.8M | — | — |
| Property, plant and equipment | $20.4M | $17.1M | — | — |
| Total assets | $632.7M | $302.1M | — | — |
| Accounts payable | $7.2M | $4.3M | — | — |
| Short-term debt | $0 | $0 | — | — |
| Total current liabilities | $48.0M | $28.4M | — | — |
| Long-term debt | $57.2M | $51.5M | — | — |
| Total liabilities | $152.5M | $134.3M | — | — |
| Retained earnings | -$274.7M | -$282.2M | — | — |
| Total equity | $480.1M | -$251.7M | -$219.1M | -$141.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | $24.6M | -$41.4M | -$53.7M | — |
| Depreciation and amortisation | $6.9M | $7.0M | $5.9M | — |
| Stock-based compensation | $15.9M | $8.4M | $4.9M | — |
| Capital expenditure | $8.9M | $5.4M | $6.2M | — |
| Investing cash flow | -$8.9M | -$5.4M | $82.8M | — |
| Financing cash flow | $288.8M | $141.0M | $13.4M | — |
| Buybacks | $0 | $546.0K | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0002070849-26-000017.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | — | $71.7M | $152.6M | $305.1M |
| Gross profit | — | $17.3M | $80.9M | $208.5M |
| Net income | — | -$82.7M | -$41.6M | $7.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Material agreement signed Item 1.01
- New debt or obligation Item 2.03
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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