your badges 52W Range $62–$150 50% of range Analyst Rating STRONG BUY 14 analysts Price Target $124 +17% upside P/E 151.3 ROE 6.5% Net Profit Margin 9.5%

BLLN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $105.90
Market Cap (MRQ) $4.96B
P/E (TTM) 151.3
EPS (TTM) $0.70
Revenue (TTM) $397M
ROE 6.5%
Debt/Equity 0.1
52W Range $62–$150

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10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$305M
2023-12-31 → 2025-12-31
EPS$0.14
2023-12-31 → 2025-12-31
Free Cash Flow$16M
2025-12-31 → 2025-12-31
Net margin9.5%
2025-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend BLLN 5Y avg Peer Median Verdict
P/E (TTM) 151.3 · · ·
P/S (TTM) 12.5 · · ·
P/B (MRQ) 9.2 · · ·
EV / EBITDA -19.1 · · ·
Price / FCF (TTM) 149.5 · · ·
Price / Cash Flow (TTM) 109.3 · · ·
EV / Revenue -1.4 · · ·
EV / FCF -27.9 · · ·
Price / Tangible Book 0.0 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 131.1%
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 $0.15 $0.19 -20.2%
March 31, 2026 $0.34 $0.05 598.2%
Dec. 31, 2025 $0.11 $0.09 27.0%
Sept. 30, 2025 $0.10 $0.52 -80.6%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 17
Metric Trend 202520242023
Revenue $305M$153M$72M
Cost of Revenue $97M$72M$54M
Gross Profit $208M$81M$17M
R&D Expense $49M$37M$22M
SG&A Expense $143M$91M$64M
Operating Expenses $192M$128M$87M
Operating Income $16M$-47M$-69M
Interest Income $8M$6M$3M
Other Non-op $-7M$-1M$-442.0K
Pretax Income $8M$-42M$-83M
Income Tax $305.0K$29.0K$9.0K
Net Income $7M$-42M$-83M
EPS (Basic) $0.18$-4.12$-8.45
EPS (Diluted) $0.14$-4.12$-8.45
Shares (Basic) 15,875,09110,079,9259,782,770
Shares (Diluted) 21,230,75210,079,9259,782,770
EBITDA $23M··
Balance Sheet 24
Metric Trend 202520242023
Cash & Equivalents $496M$191M·
Receivables $42M$25M·
Inventory $18M$9M·
Prepaid Expense $5M$3M·
Current Assets $561M$228M·
PP&E (Net) $20M$17M·
PP&E (Gross) $44M$34M·
Accum. Depreciation $23M$17M·
Other Non-current Assets $5M$5M·
Total Assets $633M$302M·
Accounts Payable $7M$4M·
Current Liabilities $48M$28M·
Capital Leases $46M$51M·
Other Non-current Liabilities $0$3M·
Total Liabilities $153M$134M·
Long-term Debt $57M$51M·
Total Debt $57M··
Common Stock $0$0·
Paid-in Capital $757M$31M·
Retained Earnings $-275M$-282M·
AOCI $-2M$0·
Stockholders' Equity $480M$-252M$-219M
Liabilities + Equity $633M$302M·
Shares Outstanding 45,804,75510,925,95010,572,061
Cash Flow 13
Metric Trend 202520242023
D&A $7M$7M$6M
Stock-based Comp $16M$8M$5M
Deferred Tax $0$0$0
Other Non-cash $-6M··
Operating Cash Flow $25M$-41M$-54M
CapEx $9M$5M$6M
Investing Cash Flow $-9M$-5M$83M
Stock Repurchased $0$546.0K$0
Net Stock Activity $0··
Financing Cash Flow $289M$141M$13M
Net Change in Cash $304M$94M$43M
Taxes Paid $487.0K$9.0K$0
Free Cash Flow $16M··
Profitability 8
Metric Trend 202520242023
Gross Margin 68.3%··
Operating Margin 5.2%··
Net Margin 2.4%··
Pretax Margin 2.5%··
EBITDA Margin 7.5%··
ROA 1.6%··
ROE 6.5%··
ROIC 2.9%··
Liquidity & Solvency 4
Metric Trend 202520242023
Current Ratio 11.7··
Quick Ratio 11.2··
Debt / Equity 0.1··
LT Debt / Equity 0.1··
Efficiency 3
Metric Trend 202520242023
Asset Turnover 0.7··
Inventory Turnover 7.4··
Receivables Turnover 9.2··
Per Share 3
Metric Trend 202520242023
Revenue / Share $14.37··
Cash Flow / Share $1.16··
EPS (TTM) $0.14··
Growth Rates 1
Metric Trend 202520242023
Revenue YoY 100.0%112.7%·
Valuation (TTM) 13
Metric Trend 202520242023
Revenue TTM $305M··
Net Income TTM $7M··
Market Cap $0··
Enterprise Value $-439M··
P/E 584.6··
P/S 0.0··
P / Tangible Book 0.0··
P / Cash Flow 0.0··
P / FCF 0.0··
EV / EBITDA -19.1··
EV / FCF -27.9··
EV / Revenue -1.4··
Earnings Yield 0.17%··

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

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Metric 2025-12-312024-12-312023-12-31
Revenue $305M $153M $72M
Gross Margin % 68.3% · ·
Operating Margin % 5.2% · ·
Net Income $7M $-42M $-83M
Diluted EPS $0.14 $-4.12 $-8.45

Institutional owners (13F) 162 filers · $1.7B total · As of June 30, 2026

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Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 162
Value held $1.7B
New positions 81
Exited positions 11
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
81 (+46 vs prior Q) 11 (-16 vs prior Q) 50 (+21 vs prior Q) 12 (-2 vs prior Q) +3.9M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
ADAMS STREET PARTNERS LLC $205,337,371 1,711,430 12.32% Shares
BAILLIE GIFFORD & CO $108,152,370 901,420 6.49% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $100,899,581 840,970 6.05% Shares
Invesco Ltd. $100,256,968 835,614 6.02% Shares
VANGUARD CAPITAL MANAGEMENT LLC $95,920,171 799,468 5.75% Shares
NEUBERGER BERMAN GROUP LLC $91,690,517 764,215 5.50% Shares
BAMCO INC /NY/ $89,036,318 742,093 5.34% Shares
MILLENNIUM MANAGEMENT LLC $50,995,339 425,032 3.06% Shares
FULLER & THALER ASSET MANAGEMENT, INC. $50,219,447 418,565 3.01% Shares
EMERALD ADVISERS, LLC $45,095,443 375,858 2.71% Shares
NEXT CENTURY GROWTH INVESTORS LLC $43,728,750 364,467 2.62% Shares
UBS Group AG $41,307,554 344,287 2.48% Shares
JPMORGAN CHASE & CO $41,013,056 340,371 2.46% Shares
AMERIPRISE FINANCIAL INC $38,497,422 320,612 2.31% Shares
OBERWEIS ASSET MANAGEMENT INC/ $35,877,619 299,030 2.15% Shares
WELLS FARGO & COMPANY/MN $32,581,049 271,554 1.95% Shares
WASATCH ADVISORS LP $29,179,224 369,638 1.75% Shares
VANGUARD GROUP INC $28,837,797 352,368 1.73% Shares
Napean Trading & Investment Co (Singapore) PTE Ltd $27,995,293 233,333 1.68% Shares
EMERALD MUTUAL FUND ADVISERS TRUST $24,474,720 203,990 1.47% Shares
ALLIANCEBERNSTEIN L.P. $20,690,411 262,103 1.24% Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $18,991,938 240,587 1.14% Shares
Penn Capital Management Company, LLC $15,549,648 129,602 0.93% Shares
BNP PARIBAS FINANCIAL MARKETS $14,700,789 122,527 0.88% Shares
GOLDMAN SACHS GROUP INC $14,436,593 120,325 0.87% Shares
NEW YORK STATE COMMON RETIREMENT FUND $14,130,165 117,771 0.85% Shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC $14,045,219 117,063 0.84% Shares
BlackRock, Inc. $13,711,434 114,281 0.82% Shares
FRED ALGER MANAGEMENT, LLC $13,692,478 114,123 0.82% Shares
RENAISSANCE TECHNOLOGIES LLC $11,590,068 96,600 0.70% Shares
GEODE CAPITAL MANAGEMENT, LLC $10,553,783 87,934 0.63% Shares
PERCEPTIVE ADVISORS LLC $10,415,704 86,812 0.62% Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND $9,994,334 83,300 0.60% Shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ $9,475,661 78,977 0.57% Shares
Blue Water Life Science Advisors, LP $8,398,600 70,000 0.50% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $7,738,710 64,500 0.46% Put option
TD Asset Management Inc $7,616,570 63,482 0.46% Shares
BANK OF AMERICA CORP /DE/ $7,083,619 59,040 0.42% Shares
Verition Fund Management LLC $6,838,860 57,000 0.41% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $6,550,668 54,598 0.39% Shares
Ensign Peak Advisors, Inc $6,170,211 51,427 0.37% Shares
Jump Financial, LLC $5,555,074 46,300 0.33% Shares
MARSHALL WACE, LLP $5,358,546 44,662 0.32% Shares
Fox Hill Wealth Management $5,245,998 43,724 0.31% Shares
F/m Investments LLC $5,231,128 43,600 0.31% Shares
Weiss Asset Management LP $5,165,979 43,057 0.31% Shares
VANGUARD FIDUCIARY TRUST CO $5,144,023 42,874 0.31% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $5,002,806 41,697 0.30% Shares
REGENTS OF THE UNIVERSITY OF CALIFORNIA $4,903,103 40,863 0.29% Shares
STATE STREET CORP $4,285,446 35,718 0.26% Shares

Show all 162 institutional owners →

Activists & 5%+ owners 1 position

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Hummingbird Ventures Management NV, Hummingbird Opportunity Fund II CommV, Hummingbird Ventures III CommV, Hummingbird Dragons CommV, Hummingbird Collective CommV, HB&Q NV, Firat Ileri, Barend Van den Brande, Lukas Decoster Jan. 20, 2026 19.60% Initial filing Passive investment SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 13 insiders · 8 officers · 7 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Oguzhan Atay Chairman and CEO Sept. 28, 2026 M 154,502 0 78 $-22,953,731
Ross Taylor Chief Financial Officer Nov. 7, 2025 J · 0 0 $0
David Tsao Chief Technology Officer Sept. 24, 2026 M 1,000 1 26 $-8,803,625
John Roderick Ten Bosch SVP of Laboratory Operations Sept. 24, 2026 S 22,219 1 11 $-1,674,895
Thomas P. Lynch General Counsel, Chief Compliance Officer and Secretary Sept. 17, 2026 M 700 1 17 $-5,867,856
Shan Riku Sakakibara Chief Product Officer Sept. 10, 2026 G 196,500 0 10 $-3,226,640
Nancy Joann Johnson Senior Vice President of Sales and Commercial Operations July 16, 2026 S 6,900 1 12 $-2,910,287
John Lister Chief Administrative Officer Nov. 7, 2025 J · 0 0 $0
Krishna Kittu Kolluri Director Aug. 26, 2026 J 57,839 0 0 $0
Anthony Pagano Director June 10, 2026 A 7,913 0 0 $0
Firat Ileri Director June 10, 2026 A 40,331 0 0 $0
Akshay Rai Director June 10, 2026 A 14,026 1 0 $150,000
Thomas S Bremner Director June 10, 2026 A 11,350 6 0 $2,499,960

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 12 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
SPIT · RBB Fund, Inc. 1.21% 2,901 NS July 31, 2026 N-PORT
BKSE · BNY Mellon ETF Trust 0.13% 811 NS July 31, 2026 N-PORT
VBK · VANGUARD INDEX FUNDS 0.04% 151,792 SH Aug. 19, 2026 Daily
BBSC · J.P. Morgan Exchange-Traded Fund Tr… 0.03% 1,573 NS July 31, 2026 N-PORT
VB · VANGUARD INDEX FUNDS 0.03% 523,186 SH Aug. 19, 2026 Daily
VBR · VANGUARD INDEX FUNDS 0.03% 165,992 SH Aug. 19, 2026 Daily
ISCG · iShares Trust 0.02% 1,968 SH Sept. 11, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.01% 52,910 SH Aug. 19, 2026 Daily
ITOT · iShares Trust 0.00% 8,024 SH Sept. 11, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 724,284 SH Aug. 19, 2026 Daily
ISCB · iShares Trust · 256 SH Sept. 11, 2026 Daily
SMLF · iShares Trust · 30,691 SH Sept. 11, 2026 Daily

BLLN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 14 analysts BUY
Median target $127.50 +20.4%
6 42.9% Strong Buy
5 35.7% Buy
3 21.4% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

8 analysts · 2026-09-28

Mean target $123.75 +16.9%

Now Current price $105.90
Low$90.00 Mean$123.75 High$145.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
BLLN $0 584.6 100.0% 2.4% 6.5% 68.3%
HIMS · 63.7 59.0% 5.5% 23.3% 73.8%
CHE · 23.3 4.1% 10.5% 24.4% ·
RDNT $5.28B -285.4 11.5% -0.91% -1.9% ·
LFST $2.73B · 13.9% 0.68% 0.65% ·
CRVL $2.78B 25.5 7.0% 11.5% 29.1% 24.3%
OPCH $5.00B 25.1 13.0% 3.7% 15.4% 19.3%
AVAH $1.70B 7.7 20.2% 9.2% 246.6% 33.3%
GRDN · · 17.9% 3.4% 24.8% 20.2%
CVS $100.87B 57.1 7.8% 0.44% 2.4% ·

Latest News Recent headlines mentioning this company

23
Jim Cramer on BillionToOne: “I Say Buy It” Yahoo Finance · 4 months, 2 weeks ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Aug 5, 2026