BillionToOne, Inc.
BLLN Healthcare Diagnostics & Research
BillionToOne, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $305.1 million, up 100.0% from fiscal 2024. In the quarter to June 2026, revenue grew 64.4%, EPS grew 817.3%, free cash flow grew 400.7% and total debt rose 74.2%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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BillionToOne, Inc. (BLLN) Piotroski F-score
BillionToOne, Inc.'s Piotroski F-score for fiscal 2025 cannot be worked out: total assets not reported.
Piotroski F-score, annual
Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 0.62% | — | Pass | 1 |
| Positive operating cash flow | 24.60m | (41.37m) | Pass | 1 |
| Rising return on assets | 0.62% | — | n/a | — |
| Cash flow above net income | 21.68m | 195.00k | Pass | 1 |
| Falling long-term leverage | 0.12 | — | n/a | — |
| Rising current ratio | 11.69 | 8.03 | Pass | 1 |
| No new shares issued | 15,875,100 | 10,079,900 | Fail | 0 |
| Rising gross margin | 68.32% | 53.03% | Pass | 1 |
| Rising asset turnover | 0.65 | — | n/a | — |
| Piotroski F-score | n/a — total assets not reported | — | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| VCYT Veracyte, Inc. compare | 8 |
| QGEN QIAGEN N.V. compare | 8 |
| SHC Sotera Health Company compare | 7 |
| ADPT Adaptive Biotechnologies Corporation compare | 6 |
| GRAL GRAIL, Inc. compare | 6 |
| CDNA CareDx, Inc. compare | 5 |
| TWST Twist Bioscience Corporation compare | 4 |
| RDNT RadNet, Inc. compare | 3 |
| BLLN BillionToOne, Inc. | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover