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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

Ratios

Percentages worked out from the filed figures; debt to equity in times. 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
Margins
24.1% 53.0% 68.3%
−96.9% −30.9% 5.3%
−115.3% −27.2% 2.5%
−115.3% −27.2% 2.4%
−83.4% −30.7% 5.2%
Spending
31.2% 24.0% 16.2%
89.8% 59.9% 46.9%
8.6% 3.5% 2.9%
n/a n/a 3.9%
Returns
n/a n/a 1.6%
n/a −13.8% 1.2%
Balance and payout
n/a n/a 0.12
n/a 44.5% 24.1%
n/a n/a 0.0%