BillionToOne (NASDAQ: BLLN) posts Q1 profit and lifts 2026 revenue outlook
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
BillionToOne, Inc. reported sharply higher first quarter 2026 results, with total revenue of $108.4 million, up 84% from the first quarter of 2025. Growth was driven by a 44% increase in tests delivered and a 28% rise in overall average selling price.
Prenatal testing revenue reached $96.5 million, up 72%, while oncology testing revenue was $10.7 million, more than four times the prior year. Gross margin improved to 73% from 64%, supporting income from operations of $17.8 million versus a loss a year earlier. Net income was $17.97 million, or $0.34 per diluted share. The company raised its 2026 revenue outlook to a range of $450 million to $465 million, implying 48% to 52% growth over 2025, and expects to maintain profitability near current levels while continuing to invest.
Positive
- Revenue surged and profitability improved: Q1 2026 revenue grew 84% year over year to $108.4 million, gross margin expanded to 73%, and the company generated $17.8 million of operating income and $17.97 million of net income.
- Guidance raised with strong growth outlook: Full-year 2026 revenue guidance increased to $450–$465 million, implying 48–52% growth over 2025 while management expects to sustain profitability near current levels.
- Oncology and prenatal segments both strong: Prenatal revenue rose 72% to $96.5 million, and oncology revenue grew to $10.7 million, more than four times the $2.2 million reported in the prior-year quarter.
Negative
- None.
Insights
BillionToOne delivered strong Q1 growth, swung to profitability, and raised full-year 2026 revenue guidance.
BillionToOne posted Q1 2026 revenue of $108.4 million, up 84% year over year, with prenatal at $96.5 million and oncology at $10.7 million. Higher test volumes and a 28% increase in overall ASP supported the expansion.
Gross margin rose to 73% from 64%, while operating expenses increased 52% to $61.3 million. Even with heavier spending, income from operations reached $17.8 million, and net income was $17.97 million, or $0.34 per diluted share.
The company ended the quarter with cash and cash equivalents of $537.45 million. Management lifted 2026 revenue guidance to $450–$465 million, representing 48–52% growth over 2025, and signaled an intention to keep profitability near current levels while continuing significant investments.
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Total revenue Q1 2026: $108.4 million
Prenatal testing revenue: $96.5 million
Oncology testing revenue: $10.7 million
+5 more
8 metrics
Total revenue Q1 2026
$108.4 million
Three months ended March 31, 2026; up 84% year over year
Prenatal testing revenue
$96.5 million
Q1 2026; 72% growth vs Q1 2025
Oncology testing revenue
$10.7 million
Q1 2026; more than 4x $2.2 million in Q1 2025
Gross margin
73%
Q1 2026; compared with 64% in Q1 2025
Net income
$17.97 million
Three months ended March 31, 2026
Diluted EPS
$0.34 per share
Net income per diluted share in Q1 2026
2026 revenue guidance
$450–$465 million
Full-year 2026 outlook; 48–52% growth vs 2025
Cash and cash equivalents
$537.45 million
Balance as of March 31, 2026
Key Terms
Gross profit margin, Overall ASP, Adjusted EBITDA, Operating margin, +2 more
6 terms
Gross profit margin financial
"Gross profit margin was 73% in the first quarter of 2026, compared to 64% in the first quarter of 2025"
Gross profit margin shows how much money a company keeps from sales after paying for the goods or services it sold. It’s like checking how much profit is left over from each dollar earned before covering other costs. A higher margin indicates the company makes more money from its sales, which helps assess its profitability and efficiency.
Overall ASP financial
"The increase in total revenue was driven by a 44% increase in the number of total tests delivered and a 28% increase in Overall ASP."
Adjusted EBITDA financial
"We define Adjusted EBITDA as net income (loss) adjusted for income taxes, interest income, interest expense, depreciation and amortization expense, and certain other items"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Operating margin financial
"Operating margin was 16% in the first quarter of 2026."
Operating margin shows how much profit a company makes from its core business activities after paying for costs like wages and materials. It’s useful because it tells you how efficiently a company is running—higher margins mean it keeps more money from each dollar of sales, which can indicate better management or stronger products.
Non-GAAP financial measures financial
"We use certain non-GAAP financial measures to supplement our financial results, which are presented in accordance with GAAP."
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
Change in fair value of warrant liabilities financial
"Change in fair value of warrant liabilities | (358) | | | (56)"
Earnings Snapshot
Revenue: $108.4 million · Guidance included
Q1 2026
Revenue
$108.4 million
+84% year over year
Net income
$17.97 million
vs. $3.99 million net loss in Q1 2025
Diluted EPS
$0.34
vs. $(0.39) in Q1 2025
Gross margin
73%
up from 64% in Q1 2025
Adjusted EBITDA
$26.0 million
up from $1.8 million in Q1 2025
2026 revenue guidance
$450–$465 million
raised from $430–$445 million
Guidance
Full-year 2026 revenue expected between $450 million and $465 million, representing 48–52% growth over 2025, with profitability expected to remain near current levels.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 6, 2026
___________________________________
(Exact name of Registrant as specified in its charter)
___________________________________
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
(Address of principal executive offices including zip code)
Registrant’s telephone number, including area code: (650 ) 460-2551
(Former name or former address, if changed since last report)
___________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On May 6, 2026 , BillionToOne, Inc. (the “Company”) issued a press release announcing financial results for the quarter ended March 31, 2026. A copy of the Company’s press release is attached hereto as Exhibit 99.1.
The information in this Current Report on Form 8-K and the accompanying Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and is not to be incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended or the Exchange Act, regardless of any general incorporation language contained in such filing, unless otherwise expressly stated in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit | Description | ||||
| 99.1 | Press Release of BillionToOne, Inc. dated May 6, 2026 | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BillionToOne, Inc. | |||||||||||||||||
Date: | By: | /s/ Ross Taylor | |||||||||||||||
Name: | Ross Taylor | ||||||||||||||||
Title: | Chief Financial Officer | ||||||||||||||||
BillionToOne Reports First Quarter 2026 Results and Raises 2026 Revenue Guidance
MENLO PARK, CA, May 6, 2026 - BillionToOne, Inc. (NASDAQ: BLLN), a next-generation molecular diagnostics company with a mission to create powerful and accurate tests that are accessible to all, today reported its financial results for the first quarter ended March 31, 2026 and raised guidance for full year 2026.
Financial Highlights:
●Total revenue of $108.4 million in the first quarter of 2026, compared to $59.0 million in the first quarter of 2025, an increase of 84%.
●Prenatal clinical testing revenue was $96.5 million in the first quarter of 2026, an increase of 72% from the first quarter of 2025.
●Oncology clinical testing revenue was $10.7 million in the first quarter of 2026, more than four times the $2.2 million reported in the first quarter of 2025.
●Gross profit margin was 73% in the first quarter of 2026, compared to 64% in the first quarter of 2025, a 9 percentage-point increase year-over-year.
●188,000 tests delivered in the first quarter of 2026, compared to 131,000 tests delivered in the first quarter of 2025, an increase of 44%.
●Income from operations of $17.8 million in the first quarter of 2026, compared to a $2.3 million operating loss in the first quarter of 2025.
●Cash flow from operations minus capital expenditures was $11.0 million in the first quarter of 2026.
●Raising 2026 full year revenue guidance to be in a range of $450 million to $465 million, which represents 48% to 52% growth over 2025.
●Expects to operate the business such that it will continue to generate profitability approaching current levels, even with significant continued investments.
Recent Operating Highlights:
●In May, we announced the launch of Unity ConfirmTM, a circulating fetal cell-based, non-invasive confirmation assay designed to enable confirmation of high-risk screening results. The new assay isolates intact circulating fetal cells from a simple maternal blood draw using BillionToOne’s Fetal Cell CaptureTM technology. With the assay, clinicians can confirm a high-risk result from a maternal blood draw without putting the pregnancy at risk from invasive methods such as chorionic villus sampling (CVS) or amniocentesis.
"Our first quarter performance underscores the continued momentum we are building through our differentiated technology platform, category-defining products, and disciplined execution," said Dr. Oguzhan Atay, Co-Founder and CEO of BillionToOne. "In Q1 2026 we launched additional prenatal and oncology offerings and significantly expanded our payor contracts, reaching $300 million contracted lives in the U.S. We remain focused on addressing some of healthcare’s most complex challenges. As we move through 2026, we believe we are only beginning to realize the full potential of our platform.”
| Three Months Ended March 31, (Unaudited) | |||||||||||||||||
| 2026 | 2025 | % | |||||||||||||||
| Revenue ($ in millions) | |||||||||||||||||
| Prenatal | $ | 96.5 | $ | 56.1 | 72 | % | |||||||||||
| Oncology | $ | 10.7 | $ | 2.2 | 392 | % | |||||||||||
| Clinical trial support and other services | $ | 1.1 | $ | 0.7 | 61 | % | |||||||||||
| Total Revenue | $ | 108.4 | $ | 59.0 | 84 | % | |||||||||||
| Note: Numbers may not add due to rounding | |||||||||||||||||
| Three Months Ended March 31, (Unaudited) | |||||||||||||||||
| 2026 | 2025 | % | |||||||||||||||
| Total tests accessioned | 189,000 | 137,000 | 38 | % | |||||||||||||
| Total tests delivered | 188,000 | 131,000 | 44 | % | |||||||||||||
| Overall ASP | $ | 571 | $ | 445 | 28 | % | |||||||||||
First Quarter 2026 Financial Results
Total revenue was $108.4 million in the first quarter of 2026 compared to $59.0 million in the first quarter of 2025, an increase of 84%. The increase in total revenue was driven by a 44% increase in the number of total tests delivered and a 28% increase in Overall ASP. Both prenatal and oncology delivered strong test volume growth year-over-year.
Gross profit was $79.1 million in the first quarter of 2026, compared to $38.0 million in the first quarter of 2025, representing a gross margin of 73% in the first quarter of 2026 and 64% in the first quarter of 2025. An increase in Overall ASP drove the improvement in gross profit margin compared to the first quarter of 2025. Overall cost-per-test remained relatively stable in the first quarter of 2026 compared to last year, as improvements in cost-per-test for both of our oncology products and for our prenatal products were offset by the faster growth of our oncology products, which have higher costs-per-test.
Total operating expenses were $61.3 million in the first quarter of 2026, compared to $40.3 million in the first quarter of 2025 an increase of 52%.
Income from operations was $17.8 million in the first quarter of 2026, compared to a loss from operations of $2.3 million in the first quarter of 2025. Operating margin was 16% in the first quarter of 2026.
Net income in the first quarter of 2026 was $18.0 million, or $0.34 per diluted share, compared to a net loss of $4.0 million, or $(0.39) per diluted share, in the first quarter of 2025.
Financial Outlook
BillionToOne now expects full year 2026 total revenue of $450.0 million to $465.0 million, representing growth of 48% to 52% compared to full year 2025. This compares to the company’s previous guidance of $430 million to $445 million.
BillionToOne also expects to operate the business such that it will continue to generate profitability approaching current levels, even with significant continued investments.
Webcast and Conference Call Information
BillionToOne will host a conference call today, May 6, 2026, at 1:30pm Pacific Time / 4:30pm Eastern Time. Investors interested in listening to the conference call are required to register online. A live and archived webcast of the event for interested listeners can be accessed at
https://investors.billiontoone.com/.
About BillionToOne
Headquartered in Menlo Park, California, BillionToOne is a molecular diagnostics company with a mission to create powerful and accurate tests that are accessible to all. The company's patented Quantitative Counting Templates™ (QCT™) molecular counting platform is the only multiplex technology that can accurately count DNA molecules at the single-molecule level.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking statements in this press release include, but are not limited to, statements regarding revenue, income and other financial information for the full year of 2026. These statements are based on management’s current expectations, forecasts and assumptions, and actual outcomes and results could differ materially from these statements due to a number of factors, some of which are beyond BillionToOne’s control. These and additional risks and uncertainties that could affect BillionToOne’s financial and operating results and cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. These risks and uncertainties include those discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” and elsewhere in BillionToOne’s most recently filed quarterly report on Form 10-Q, the annual report on Form 10-K and other filings BillionToOne makes with the Securities and Exchange Commission from time to time. The forward-looking statements in this press release are based on information available to BillionToOne as of the date hereof, and BillionToOne disclaims any obligation to update any forward-looking statements provided to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as required by law. These forward-looking statements should not be relied upon as representing BillionToOne’s views as of any date subsequent to the date of this press release.
Non-GAAP financial measures
We use certain non-GAAP financial measures to supplement our financial results, which are presented in accordance with GAAP. These non-GAAP financial measures include EBITDA and Adjusted EBITDA. By excluding the impact of certain items that we believe do not directly reflect our underlying operations, we are of the opinion that EBITDA, and Adjusted EBITDA provide meaningful supplemental information regarding our performance. Accordingly, we believe these non-GAAP financial measures are useful to investors and others because they allow for additional information with respect to financial measures used by management in its financial and operational decision-making and forecasting. These metrics also provide investors and other users of our financial information with additional tools to compare business performance across companies and periods, while eliminating the effects of items that may vary for different companies for reasons unrelated to core operating performance. However, there are a number of limitations related to the use of non-GAAP financial measures, and these non-GAAP measures should be
considered in addition to, not as a substitute for or in isolation from, our financial results prepared in accordance with GAAP. Other companies, including companies in our industry, may calculate these non-GAAP financial measures differently or not at all, which reduces their usefulness as comparative measures. A reconciliation between GAAP and non-GAAP financial information is provided immediately following the financial tables. A reconciliation of the forecasted range for adjusted EBITDA for the full year 2026 is not included in this release due to the number of variables in the projected range and because we are currently unable to quantify accurately certain amounts that would be required to be included in the U.S. GAAP measure or the individual adjustments for such reconciliation.
EBITDA
We define EBITDA as net income (loss) adjusted for income taxes, interest income, interest expense, and depreciation and amortization expense.
Adjusted EBITDA
We define Adjusted EBITDA as net income (loss) adjusted for income taxes, interest income, interest expense, depreciation and amortization expense, and certain other items which include significant non-cash items events that are highly variable, significant in size, and that we do not believe are indicative of ongoing or future business operations, which include: stock-based compensation expense; change in fair value of term loan; and change in fair value of warrant liabilities.
BillionToOne, Inc.
Statements of Operations and Comprehensive Income (Loss)
(in thousands, except per share amounts, unaudited)
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Revenue | $ | 108,388 | $ | 58,963 | |||||||
| Cost of revenue | 29,292 | 20,991 | |||||||||
| Gross profit | 79,096 | 37,972 | |||||||||
| Operating expenses: | |||||||||||
| Research and development | 14,692 | 10,430 | |||||||||
| Selling, general and administrative | 46,570 | 29,857 | |||||||||
| Total operating expenses | 61,262 | 40,287 | |||||||||
| Income (loss) from operations | 17,834 | (2,315) | |||||||||
| Other income (expense): | |||||||||||
| Interest income | 4,645 | 1,506 | |||||||||
| Interest expense | (10) | (40) | |||||||||
| Change in fair value of term loan | (4,261) | (3,092) | |||||||||
| Other expense, net | 301 | 53 | |||||||||
| Total other (expense) income | 675 | (1,573) | |||||||||
| Income (loss) before provision for income taxes | 18,509 | (3,888) | |||||||||
| Provision for income taxes | 539 | 100 | |||||||||
| Net income (loss) and comprehensive income (loss) | $ | 17,970 | $ | (3,988) | |||||||
| Net income (loss) per share, basic and diluted: | |||||||||||
| Net income (loss) per share, basic | $ | 0.39 | $ | (0.39) | |||||||
| Net income (loss) per share, diluted | $ | 0.34 | $ | (0.39) | |||||||
| Weighted-average shares used in calculating net income (loss) per share, basic and diluted: | |||||||||||
| Weighted-average shares used in calculating net income (loss) per share, basic | 45,932,719 | 10,312,892 | |||||||||
| Weighted-average shares used in calculating net income (loss) per share, diluted | 53,028,360 | 10,312,892 | |||||||||
BillionToOne, Inc.
Balance Sheets
(in thousands, except share amounts, unaudited)
| March 31, 2026 | December 31, 2025 | ||||||||||
| Assets | |||||||||||
Current assets: | |||||||||||
| Cash and cash equivalents | $ | 537,450 | $ | 495,975 | |||||||
| Accounts receivable | 61,305 | 41,617 | |||||||||
| Inventories | 19,217 | 17,545 | |||||||||
| Prepaid expenses and other current assets | 6,166 | 5,421 | |||||||||
| Total current assets | 624,138 | 560,558 | |||||||||
Property and equipment, net | 22,277 | 20,361 | |||||||||
Operating lease right-of-use assets, net | 49,396 | 46,742 | |||||||||
Other non-current assets | 4,916 | 4,993 | |||||||||
| Total assets | $ | 700,727 | $ | 632,654 | |||||||
Liabilities and stockholders’ equity | |||||||||||
| Current liabilities: | |||||||||||
| Accounts payable | $ | 8,702 | $ | 7,184 | |||||||
| Accrued expenses and other current liabilities | 8,634 | 7,247 | |||||||||
| Accrued commissions | 3,581 | 3,912 | |||||||||
| Accrued compensation and employee benefits | 18,283 | 12,551 | |||||||||
| Common stock warrant liability | 8,924 | 9,282 | |||||||||
| Deferred revenue, current | 2,796 | 2,188 | |||||||||
| Operating lease liabilities, current | 5,818 | 5,079 | |||||||||
| Financing lease liabilities, current | 424 | 519 | |||||||||
| Total current liabilities | 57,162 | 47,962 | |||||||||
| Operating lease liabilities, non-current | 47,695 | 45,723 | |||||||||
| Financing lease liabilities, non-current | 245 | 348 | |||||||||
| Deferred revenue, non-current | — | 1,290 | |||||||||
| Long-term debt | 90,005 | 57,226 | |||||||||
| Total liabilities | 195,107 | 152,549 | |||||||||
Stockholders’ equity: | |||||||||||
Class A common stock, $0.00001 par value, 800,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 41,428,242 and 41,252,105 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively | — | — | |||||||||
| Class B common stock, $0.00001 par value; 10,000,000 shares authorized as of March 31, 2026 and December 31, 2025; 4,552,650 shares issued and outstanding as of March 31, 2026 and December 31, 2025 | — | — | |||||||||
Additional paid-in capital | 764,189 | 756,644 | |||||||||
| Accumulated other comprehensive loss | (1,792) | (1,792) | |||||||||
Accumulated deficit | (256,777) | (274,747) | |||||||||
Total stockholders’ equity | 505,620 | 480,105 | |||||||||
Total liabilities and stockholders’ equity | $ | 700,727 | $ | 632,654 | |||||||
BillionToOne, Inc.
Statements of Cash Flows
(in thousands, unaudited)
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
Cash flows from operating activities: | |||||||||||
Net income (loss) | $ | 17,970 | $ | (3,988) | |||||||
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||||||||||
Stock-based compensation | 6,510 | 2,374 | |||||||||
Depreciation and amortization | 1,738 | 1,793 | |||||||||
Amortization of operating right-of-use assets | 1,252 | 1,217 | |||||||||
Loss on disposal of fixed assets | 57 | 3 | |||||||||
Change in fair value of common stock warrant liability | (358) | (58) | |||||||||
Change in fair value of redeemable convertible preferred stock warrant liability | - | 2 | |||||||||
Change in fair value of term loan | 2,779 | 1,797 | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable | (19,688) | (4,881) | |||||||||
Inventories | (1,672) | (3,326) | |||||||||
Prepaid expenses and other current assets | (708) | 515 | |||||||||
Other non-current assets | 77 | (275) | |||||||||
Accounts payable | 1,686 | 3,218 | |||||||||
Accrued expenses and other current liabilities | 2,483 | 1,856 | |||||||||
Accrued commissions | (331) | 916 | |||||||||
Accrued compensation and employee benefits | 5,512 | 2,716 | |||||||||
Deferred revenue | (682) | (203) | |||||||||
Operating lease liabilities | (1,195) | (1,051) | |||||||||
| Net cash provided by operating activities | 15,430 | 2,625 | |||||||||
Cash flows from investing activities: | |||||||||||
Purchases of property and equipment | (4,471) | (2,347) | |||||||||
| Net cash used in investing activities | (4,471) | (2,347) | |||||||||
BillionToOne, Inc.
Statements of Cash Flows
(in thousands, unaudited)
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
Cash flows from financing activities: | |||||||||||
| Proceeds from issuance of debt | 30,000 | - | |||||||||
Principal payments on finance lease liabilities | (198) | (521) | |||||||||
Payment of deferred offering costs | (504) | - | |||||||||
Proceeds from exercise of stock options | 1,218 | 365 | |||||||||
| Net cash provided by (used in) financing activities | 30,516 | (156) | |||||||||
| Net increase in cash and cash equivalents | 41,475 | 122 | |||||||||
Cash and cash equivalents at beginning of period | 495,975 | 191,477 | |||||||||
Cash and cash equivalents at end of period | $ | 537,450 | $ | 191,599 | |||||||
Supplemental cash flow disclosure: | |||||||||||
Cash payments for interest | $ | 1,491 | $ | 1,334 | |||||||
Cash paid for income taxes | $ | 129 | $ | - | |||||||
Supplemental non-cash investing and financing activities: | |||||||||||
Purchases of property and equipment in accounts payable and accrued expenses and other current liabilities | $ | 1,632 | $ | 1,604 | |||||||
Deferred offering costs in accounts payable and accrued expenses and other current liabilities | $ | - | $ | 237 | |||||||
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 4,010 | $ | - | |||||||
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 2,368 | $ | 2,188 | |||||||
Operating cash flows from financing leases (interest paid) | $ | 10 | $ | 39 | |||||||
| Exercise of stock options for which cash had not been received | $ | 40 | $ | - | |||||||
Reconciliation of Net Income (Loss) to EBITDA
(in thousands, unaudited)
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Net income (loss) | $ | 17,970 | $ | (3,988) | |||||||
| Provision for income taxes | 539 | 100 | |||||||||
| Interest (income) | (4,645) | (1,506) | |||||||||
| Interest expense | 10 | 40 | |||||||||
| Depreciation and amortization | 1,738 | 1,793 | |||||||||
| EBITDA | $ | 15,612 | $ | (3,561) | |||||||
Reconciliation of Net Income (Loss) to Adjusted EBITDA
(in thousands, unaudited)
| Three Months Ended March 31, | |||||||||||
| 2026 | 2025 | ||||||||||
| Net income (loss) | $ | 17,970 | $ | (3,988) | |||||||
| Provision for income taxes | 539 | 100 | |||||||||
| Interest (income) | (4,645) | (1,506) | |||||||||
| Interest expense | 10 | 40 | |||||||||
| Depreciation and amortization | 1,738 | 1,793 | |||||||||
| Stock-based compensation expense | 6,510 | 2,374 | |||||||||
| Change in fair value of term loan | 4,261 | 3,092 | |||||||||
| Change in fair value of warrant liabilities | (358) | (56) | |||||||||
| Adjusted EBITDA | $ | 26,025 | $ | 1,849 | |||||||
Investor Contact
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Media Contact
billiontoone@moxiegrouppr.com
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FAQ
How did BillionToOne (BLLN) perform financially in Q1 2026?
BillionToOne reported Q1 2026 revenue of $108.4 million, an 84% increase from Q1 2025. Gross profit was $79.1 million with a 73% margin, and the company generated $17.8 million in operating income and $17.97 million in net income.
What were BillionToOne’s prenatal and oncology revenues in Q1 2026?
In Q1 2026, BillionToOne’s prenatal clinical testing revenue was $96.5 million, up 72% year over year. Oncology clinical testing revenue reached $10.7 million, more than four times the $2.2 million recorded in the first quarter of 2025.
Did BillionToOne (BLLN) raise its 2026 revenue guidance?
Yes. BillionToOne raised its 2026 revenue guidance to $450–$465 million, up from $430–$445 million previously. This new range represents expected growth of 48–52% compared to full-year 2025, while aiming to maintain profitability near current levels.
What profitability metrics did BillionToOne report for Q1 2026?
BillionToOne reported income from operations of $17.8 million and net income of $17.97 million in Q1 2026. Diluted earnings per share were $0.34, compared to a diluted loss per share of $0.39 in the first quarter of 2025.
How many tests did BillionToOne deliver in Q1 2026 and at what ASP?
BillionToOne delivered 188,000 tests in Q1 2026, up from 131,000 a year earlier, a 44% increase. The company’s overall average selling price (ASP) rose to $571, compared to $445 in the first quarter of 2025.
What was BillionToOne’s cash position at March 31, 2026?
As of March 31, 2026, BillionToOne held $537.45 million in cash and cash equivalents. Total assets were $700.7 million, and total stockholders’ equity stood at $505.6 million, reflecting a strengthened balance sheet.
What were BillionToOne’s EBITDA and Adjusted EBITDA for Q1 2026?
For Q1 2026, BillionToOne reported EBITDA of $15.6 million, versus a negative $3.6 million a year earlier. Adjusted EBITDA, which adds back items like stock-based compensation and fair value changes, was $26.0 million, up from $1.8 million in Q1 2025.