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Stocks · Health care · Services-Medical Laboratories

BillionToOne, Inc.

BLLN Clue Score76
United States Fiscal year ends December CIK 0002070849
$98.09 +2.81% Close, 9 Oct 2026
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Price $98.09 −9.96% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 6 Nov 2025. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2023Revenue71.7Operating income−69.5Net income−82.7EPS, diluted−8.45Fiscal year 2024Revenue152.6 +112.7%Operating income−47.1Net income−41.6EPS, diluted−4.12Fiscal year 2025Revenue305.1 +100.0%Operating income16.0Net income7.5EPS, diluted0.14
FY2023FY2024FY2025
Revenue 71.7 152.6 305.1
Growth +112.7% +100.0%
Operating income −69.5 −47.1 16.0
Net income −82.7 −41.6 7.5
Growth
EPS, diluted −8.45 −4.12 0.14

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2023Gross margin24.1%Operating margin−96.9%Net margin−115.3%Free cash flow margin−83.4%Fiscal year 2024Gross margin53.0%Operating margin−30.9%Net margin−27.2%Free cash flow margin−30.7%Fiscal year 2025Gross margin68.3%Operating margin5.3%Net margin2.4%Free cash flow margin5.2%
FY2023FY2024FY2025
Gross margin 24.1% 53.0% 68.3%
Operating margin −96.9% −30.9% 5.3%
Net margin −115.3% −27.2% 2.4%
Free cash flow margin −83.4% −30.7% 5.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2023Operating cash flow−53.7Capital expenditure−6.2Free cash flow−59.8Buybacks0.0Fiscal year 2024Operating cash flow−41.4Capital expenditure−5.4Free cash flow−46.8Buybacks−0.5Fiscal year 2025Operating cash flow24.6Capital expenditure−8.9Free cash flow15.7Buybacks0.0
FY2023FY2024FY2025
Operating cash flow −53.7 −41.4 24.6
Capital expenditure −6.2 −5.4 −8.9
Free cash flow −59.8 −46.8 15.7
Growth
Buybacks 0.0 −0.5 0.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2023Cash97.3Shareholders’ equity−219.1Fiscal year 2024Cash191.5Total debt51.5Net cash (debt)140.0Shareholders’ equity−251.7Fiscal year 2025Cash496.0Total debt57.2Net cash (debt)438.7Shareholders’ equity480.1Debt to equity0.12
FY2023FY2024FY2025
Cash 97.3 191.5 496.0
Total debt n/a 51.5 57.2
Net cash (debt) n/a 140.0 438.7
Shareholders’ equity −219.1 −251.7 480.1
Debt to equity n/a n/a 0.12

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025† 31 Dec 2025
Revenue and profit
71.7 152.6 305.1
Growth +112.7% +100.0%
54.4 71.7 96.7
17.3 80.9 208.5
Growth +367.5% +157.6%
22.4 36.6 49.4
64.4 91.5 143.1
−69.5 −47.1 16.0
Growth
−82.7 −41.5 7.8
0.0 0.0 0.3
−82.7 −41.6 7.5
Growth
Per share
−8.45 −4.12 0.18
−8.45 −4.12 0.14
Growth
9.8 10.1 15.9
9.8 10.1 21.2
Growth +3.0% +110.6%

† The diluted share count jumps at 2025, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • A net loss in 2 of 3 years on file.