BLLN BillionToOne, Inc. - Class A common stock

NASDAQ · Health Care · View on SEC EDGAR ↗
$90.12
Price · Aug 19, 2026
Fundamentals as of Aug 5, 2026
52W Range
$62–$150
32% of range
Analyst Rating
STRONG BUY
14 analysts
Price Target
$120
+33% upside
P/E (TTM)
584.6
ROE
6.5%
Net Profit Margin
2.4%

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

Price
$90.12
Market Cap
$0
P/E (TTM)
584.6
EPS (TTM)
$0.14
Revenue (TTM)
$305M
Div Yield
—
ROE
6.5%
Debt/Equity
0.1
52W Range
$62 – $150

BLLN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

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

Revenue & Net Income $305M
3-point trend, +325.4%
2023-12-31 → 2025-12-31
EPS $0.14
3-point trend, +101.7%
2023-12-31 → 2025-12-31
Free Cash Flow $16M
2025-12-31 → 2025-12-31
Margins 2.4%
2025-12-31 → 2025-12-31

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

Metric
5Y trend
BLLN
Peer Median
P/E (TTM)
584.6
52.3
P/S (TTM)
0.0
2.2
EV / EBITDA
-19.1
—
Price / FCF
0.0
—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
BLLN
Peer Median
Gross Margin
68.3%
20.3%
Operating Margin
5.2%
—
Net Profit Margin
2.4%
1.6%
ROA
1.6%
1.4%
ROE
6.5%
3.4%
ROIC
2.9%
—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
BLLN
Peer Median
Debt / Equity
0.1
—
Current Ratio
11.7
1.6
Quick Ratio
11.2
—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
BLLN
Peer Median
Revenue YoY
3-point trend, +325.4%
100.0%
—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
BLLN
Peer Median
EPS (Diluted)
3-point trend, +101.7%
$0.14
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
BLLN
Peer Median

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

BUY 14 analysts
  • Strong Buy 6 42.9%
  • Buy 5 35.7%
  • Hold 3 21.4%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

7 analysts · 2026-08-17
Median target $125.00 +38.7%
Mean target $119.71 +32.8%

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

Avg Surprise
-0.03%
Period EPS Actual EPS Est Surprise
June 30, 2026 $0.15 $0.19 -0.04%
March 31, 2026 $0.34 $0.05 0.29%
Dec. 31, 2025 $0.11 $0.09 0.02%
Sept. 30, 2025 $0.10 $0.52 -0.42%

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

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%
RDNT $5.28B -285.4 11.5% -0.91% -1.9% —
LFST $2.73B — 13.9% 0.68% 0.65% —
OPCH $5.00B 25.1 13.0% 3.7% 15.4% 19.3%
CRVL $2.78B 25.5 7.0% 11.5% 29.1% 24.3%
AVAH $1.70B 7.7 20.2% 9.2% 246.6% 33.3%
PRVA $2.93B 131.7 22.3% 1.1% 3.3% —
GRDN — — 17.9% 3.4% 24.8% 20.2%
CVS $100.87B 57.1 7.8% 0.44% 2.4% —

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

Income Statement 17
Annual Income Statement data for BLLN
Metric Trend 202520242023
Revenue 3-point trend, +325.4% $305M $153M $72M
Cost of Revenue 3-point trend, +77.6% $97M $72M $54M
Gross Profit 3-point trend, +1104.4% $208M $81M $17M
R&D Expense 3-point trend, +120.3% $49M $37M $22M
SG&A Expense 3-point trend, +122.2% $143M $91M $64M
Operating Expenses 3-point trend, +121.7% $192M $128M $87M
Operating Income 3-point trend, +123.1% $16M $-47M $-69M
Interest Income 3-point trend, +124.2% $8M $6M $3M
Other Non-op 3-point trend, -1576.5% $-7M $-1M $-442.0K
Pretax Income 3-point trend, +109.4% $8M $-42M $-83M
Income Tax 3-point trend, +3288.9% $305.0K $29.0K $9.0K
Net Income 3-point trend, +109.0% $7M $-42M $-83M
EPS (Basic) 3-point trend, +102.1% $0.18 $-4.12 $-8.45
EPS (Diluted) 3-point trend, +101.7% $0.14 $-4.12 $-8.45
Shares (Basic) 3-point trend, +62.3% 15,875,091 10,079,925 9,782,770
Shares (Diluted) 3-point trend, +117.0% 21,230,752 10,079,925 9,782,770
EBITDA $23M · ·
Balance Sheet 24
Annual Balance Sheet data for BLLN
Metric Trend 202520242023
Cash & Equivalents 2-point trend, +159.0% $496M $191M ·
Receivables 2-point trend, +68.4% $42M $25M ·
Inventory 2-point trend, +100.9% $18M $9M ·
Prepaid Expense 2-point trend, +87.1% $5M $3M ·
Current Assets 2-point trend, +146.1% $561M $228M ·
PP&E (Net) 2-point trend, +19.0% $20M $17M ·
PP&E (Gross) 2-point trend, +27.3% $44M $34M ·
Accum. Depreciation 2-point trend, +35.7% $23M $17M ·
Other Non-current Assets 2-point trend, -7.4% $5M $5M ·
Total Assets 2-point trend, +109.4% $633M $302M ·
Accounts Payable 2-point trend, +66.9% $7M $4M ·
Current Liabilities 2-point trend, +69.0% $48M $28M ·
Capital Leases 2-point trend, -10.0% $46M $51M ·
Other Non-current Liabilities 2-point trend, -100.0% $0 $3M ·
Total Liabilities 2-point trend, +13.6% $153M $134M ·
Long-term Debt 2-point trend, +11.2% $57M $51M ·
Total Debt $57M · ·
Common Stock Flat — no change across 2 periods $0 $0 ·
Paid-in Capital 2-point trend, +2377.1% $757M $31M ·
Retained Earnings 2-point trend, +2.6% $-275M $-282M ·
AOCI 2-point trend, -1792000.00 $-2M $0 ·
Stockholders' Equity 3-point trend, +319.2% $480M $-252M $-219M
Liabilities + Equity 2-point trend, +109.4% $633M $302M ·
Shares Outstanding 3-point trend, +333.3% 45,804,755 10,925,950 10,572,061
Cash Flow 13
Annual Cash Flow data for BLLN
Metric Trend 202520242023
D&A 3-point trend, +16.9% $7M $7M $6M
Stock-based Comp 3-point trend, +227.9% $16M $8M $5M
Deferred Tax Flat — no change across 3 periods $0 $0 $0
Other Non-cash $-6M · ·
Operating Cash Flow 3-point trend, +145.8% $25M $-41M $-54M
CapEx 3-point trend, +43.8% $9M $5M $6M
Investing Cash Flow 3-point trend, -110.8% $-9M $-5M $83M
Stock Repurchased 3-point trend, +0.00 $0 $546.0K $0
Net Stock Activity $0 · ·
Financing Cash Flow 3-point trend, +2054.6% $289M $141M $13M
Net Change in Cash 3-point trend, +615.3% $304M $94M $43M
Taxes Paid 3-point trend, +487000.00 $487.0K $9.0K $0
Free Cash Flow $16M · ·
Profitability 8
Annual Profitability data for BLLN
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
Annual Liquidity & Solvency data for BLLN
Metric Trend 202520242023
Current Ratio 11.7 · ·
Quick Ratio 11.2 · ·
Debt / Equity 0.1 · ·
LT Debt / Equity 0.1 · ·
Efficiency 3
Annual Efficiency data for BLLN
Metric Trend 202520242023
Asset Turnover 0.7 · ·
Inventory Turnover 7.4 · ·
Receivables Turnover 9.2 · ·
Per Share 3
Annual Per Share data for BLLN
Metric Trend 202520242023
Revenue / Share $14.37 · ·
Cash Flow / Share $1.16 · ·
EPS (TTM) $0.14 · ·
Growth Rates 1
Annual Growth Rates data for BLLN
Metric Trend 202520242023
Revenue YoY 2-point trend, -11.3% 100.0% 112.7% ·
Valuation (TTM) 13
Annual Valuation (TTM) data for BLLN
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% · ·

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

Income Statement
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
Balance Sheet
2025-12-312024-12-312023-12-31
Debt / Equity 0.1——
Current Ratio 11.7——
Quick Ratio 11.2——
Cash Flow
2025-12-312024-12-312023-12-31
Free Cash Flow $16M——

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Institutional owners (13F) 163 filers · $1.4B total · As of June 30, 2026

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.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
86 (+55 vs prior Q) 11 (-16 vs prior Q) 44 (+20 vs prior Q) 15 (-4 vs prior Q) +4.8M

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 14.40% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $100,899,581 840,970 7.08% Shares
Invesco Ltd. $100,256,968 835,614 7.03% Shares
VANGUARD CAPITAL MANAGEMENT LLC $95,920,171 799,468 6.73% Shares
NEUBERGER BERMAN GROUP LLC $91,690,517 764,215 6.43% Shares
BAMCO INC /NY/ $89,036,318 742,093 6.24% Shares
MILLENNIUM MANAGEMENT LLC $50,995,339 425,032 3.58% Shares
FULLER & THALER ASSET MANAGEMENT, INC. $50,219,447 418,565 3.52% Shares
EMERALD ADVISERS, LLC $45,095,443 375,858 3.16% Shares
NEXT CENTURY GROWTH INVESTORS LLC $43,728,750 364,467 3.07% Shares
OBERWEIS ASSET MANAGEMENT INC/ $35,877,619 299,030 2.52% Shares
AMERIPRISE FINANCIAL INC $35,679,093 297,372 2.50% Shares
WELLS FARGO & COMPANY/MN $30,794,667 256,665 2.16% Shares
WASATCH ADVISORS LP $29,179,224 369,638 2.05% Shares
Napean Trading & Investment Co (Singapore) PTE Ltd $27,995,293 233,333 1.96% Shares
VANGUARD GROUP INC $26,563,136 324,574 1.86% Shares
EMERALD MUTUAL FUND ADVISERS TRUST $24,474,720 203,990 1.72% Shares
ALLIANCEBERNSTEIN L.P. $20,690,411 262,103 1.45% Shares
Penn Capital Management Company, LLC $15,549,648 129,602 1.09% Shares
BNP PARIBAS FINANCIAL MARKETS $14,700,789 122,527 1.03% Shares
NEW YORK STATE COMMON RETIREMENT FUND $14,130,165 117,771 0.99% Shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC $14,045,219 117,063 0.98% Shares
FRED ALGER MANAGEMENT, LLC $13,692,478 114,123 0.96% Shares
RENAISSANCE TECHNOLOGIES LLC $11,590,068 96,600 0.81% Shares
GOLDMAN SACHS GROUP INC $11,158,020 92,999 0.78% Shares
PERCEPTIVE ADVISORS LLC $10,415,704 86,812 0.73% Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND $9,994,334 83,300 0.70% Shares
GEODE CAPITAL MANAGEMENT, LLC $9,318,589 77,639 0.65% Shares
Blue Water Life Science Advisors, LP $8,398,600 70,000 0.59% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $7,738,710 64,500 0.54% Put option
TD Asset Management Inc $7,616,570 63,482 0.53% Shares
BAILLIE GIFFORD & CO $7,436,480 61,981 0.52% Shares
UBS Group AG $6,999,033 58,335 0.49% Shares
Verition Fund Management LLC $6,838,860 57,000 0.48% Shares
Ensign Peak Advisors, Inc $6,170,211 51,427 0.43% Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $5,893,897 74,663 0.41% Shares
Jump Financial, LLC $5,555,074 46,300 0.39% Shares
F/m Investments LLC $5,231,128 43,600 0.37% Shares
Weiss Asset Management LP $5,165,979 43,057 0.36% Shares
VANGUARD FIDUCIARY TRUST CO $5,144,023 42,874 0.36% Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE $5,002,806 41,697 0.35% Shares
REGENTS OF THE UNIVERSITY OF CALIFORNIA $4,903,103 40,863 0.34% Shares
STATE STREET CORP $4,285,446 35,718 0.30% Shares
BANK OF AMERICA CORP /DE/ $4,205,299 35,050 0.29% Shares
MARSHALL WACE, LLP $3,917,826 32,654 0.27% Shares
Universal- Beteiligungs- und Servicegesellschaft mbH $3,903,190 32,532 0.27% Shares
BlackRock, Inc. $3,808,405 31,742 0.27% Shares
TWO SIGMA INVESTMENTS, LP $3,620,516 30,176 0.25% Shares
Trexquant Investment LP $3,372,038 28,105 0.24% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $3,251,458 27,100 0.23% Call option
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $3,192,908 26,612 0.22% Shares
D. E. Shaw & Co., Inc. $3,117,200 25,981 0.22% Shares
SEVEN GRAND MANAGERS, LLC $2,999,500 25,000 0.21% Shares
Quantbot Technologies LP $2,957,627 24,651 0.21% Shares
ROYAL BANK OF CANADA $2,940,000 24,507 0.21% Shares
OpenArc Corporate Advisory, LLC $2,937,350 24,482 0.21% Shares
JANE STREET GROUP, LLC $2,759,540 23,000 0.19% Call option
CITADEL ADVISORS LLC $2,591,568 21,600 0.18% Call option
TUDOR INVESTMENT CORP ET AL $2,581,610 21,517 0.18% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $2,566,492 21,391 0.18% Shares
One Wealth Advisors, LLC $2,392,641 19,942 0.17% Shares
XTX Topco Ltd $2,177,877 18,152 0.15% Shares
FIRST TRUST ADVISORS LP $2,099,410 17,498 0.15% Shares
BARCLAYS PLC $2,093,171 17,446 0.15% Shares
POLEN CAPITAL MANAGEMENT LLC $2,036,661 16,975 0.14% Shares
Vontobel Holding Ltd. $1,814,458 15,123 0.13% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $1,809,298 15,080 0.13% Shares
Scientech Research LLC $1,738,510 14,490 0.12% Shares
DEUTSCHE BANK AG\ $1,636,527 13,640 0.11% Shares
OSAIC HOLDINGS, INC. $1,610,617 13,426 0.11% Shares
SIERRA SUMMIT ADVISORS LLC $1,429,082 11,911 0.10% Shares
Caerus Investment Advisors, LLC $1,374,124 11,453 0.10% Shares
Bellevue Group AG $1,266,269 10,554 0.09% Shares
SEI INVESTMENTS CO $1,150,488 9,589 0.08% Shares
Cresset Asset Management, LLC $1,095,297 9,129 0.08% Shares
JANE STREET GROUP, LLC $1,091,818 9,100 0.08% Put option
Squarepoint Ops LLC $1,052,585 8,773 0.07% Shares
CreativeOne Wealth, LLC $956,721 7,974 0.07% Shares
FIFTH THIRD BANCORP $901,107 7,510 0.06% Shares
BLAIR WILLIAM & CO/IL $837,220 6,978 0.06% Shares
LPL Financial LLC $815,264 6,795 0.06% Shares
Entropy Technologies, LP $803,866 6,700 0.06% Shares
Steward Partners Investment Advisory, LLC $777,470 6,480 0.05% Shares
CITADEL ADVISORS LLC $743,876 6,200 0.05% Put option
TWO SIGMA SECURITIES, LLC $718,920 5,992 0.05% Shares
BRANDYWINE MANAGERS, LLC $689,885 5,750 0.05% Shares
CERTUITY, LLC $640,989 5,342 0.04% Shares
Green Alpha Advisors, LLC $623,536 5,197 0.04% Shares
Jasper Ridge Partners, L.P. $615,137 5,127 0.04% Shares
MIC Capital Management UK LLP $586,942 4,892 0.04% Shares
SummitTX Capital, L.P. $529,712 4,415 0.04% Shares
Pathstone Holdings, LLC $518,561 4,346 0.04% Shares
LAVELLE CAPITAL LP $490,238 4,086 0.03% Shares
Quadrature Capital Ltd $476,681 3,973 0.03% Shares
CONNABLE OFFICE INC $461,923 3,850 0.03% Shares
Yorktown Management & Research Co Inc $413,931 3,450 0.03% Shares
GREENUP STREET WEALTH MANAGEMENT LLC $406,901 3,391 0.03% Shares
FIRST MANHATTAN CO. LLC. $403,373 3,362 0.03% Shares
CANADA PENSION PLAN INVESTMENT BOARD $395,934 3,300 0.03% Shares
ENVESTNET ASSET MANAGEMENT INC $390,175 3,252 0.03% Shares

Company insiders 13 insiders · 4 officers · 5 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Ross Taylor Chief Financial Officer Nov. 7, 2025 J — 0 0 $0
Nancy Joann Johnson Senior Vice President of Sales and Commercial Operations July 16, 2026 S 6,900 1 6 $-1,796,863
Thomas P. Lynch General Counsel, Chief Compliance Officer and Secretary Nov. 7, 2025 J 700 1 0 $6,000
John Lister Chief Administrative Officer Nov. 7, 2025 J — 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
Krishna Kittu Kolluri Director June 10, 2026 A 11,350 0 0 $0
David Tsao — Aug. 10, 2026 M 1,000 1 22 $-5,411,600
John Roderick Ten Bosch — Aug. 10, 2026 S 27,884 1 7 $-1,074,198
Oguzhan Atay — Aug. 5, 2026 M 0 0 57 $-14,812,934
Shan Riku Sakakibara — July 31, 2026 S 200,000 0 9 $-2,826,640

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

Activists & 5%+ owners 1 position

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.

ETF ownership Held by 14 ETFs

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
LFSC · RBB Fund, Inc. 2.73% 29,023 NS May 31, 2026 N-PORT
BKSE · BNY Mellon ETF Trust 0.07% 768 NS April 30, 2026 N-PORT
SMLF · iShares Trust 0.07% 30,403 SH Aug. 8, 2026 Daily
VBK · VANGUARD INDEX FUNDS 0.04% 151,792 SH Aug. 8, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.03% 523,186 SH Aug. 8, 2026 Daily
VBR · VANGUARD INDEX FUNDS 0.03% 165,992 SH Aug. 8, 2026 Daily
ISCG · iShares Trust 0.02% 1,962 SH Aug. 8, 2026 Daily
ONEQ · Fidelity Commonwealth Trust 0.01% 13,106 NS May 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.01% 52,910 SH Aug. 8, 2026 Daily
SCHA · SCHWAB STRATEGIC TRUST 0.01% 22,376 NS May 31, 2026 N-PORT
ISCB · iShares Trust 0.01% 256 SH Aug. 8, 2026 Daily
ITOT · iShares Trust 0.00% 8,025 SH Aug. 8, 2026 Daily
SCHB · SCHWAB STRATEGIC TRUST 0.00% 2,500 NS May 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.00% 724,284 SH Aug. 8, 2026 Daily