BillionToOne
Develops molecular diagnostics for prenatal screening and cancer treatment selection.
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Profile
Offers UNITY prenatal genetic tests and Northstar liquid-biopsy oncology assays built on its single-molecule sequencing platform. Revenue comes from commercial diagnostics, with prenatal care established first and oncology expanded afterward.
Uses its smNGS molecular-counting platform to provide prenatal genetics and oncology diagnostics. UNITY began as its first commercial product and expanded within prenatal genetics; Northstar Select became its liquid-biopsy assay for therapy-selection insights in advanced cancer.
The oncology platform has since added Northstar PGx and Northstar Select CH, while Unity Confirm offers non-invasive confirmation after high-risk screening results. Together, these products move the original platform beyond prenatal screening into cancer care.
Based in Menlo Park, it operates commercial diagnostics rather than a pure R&D model. Continued development and expansion depend materially on its co-founders and other key managers.
Company facts
Key statistics
Year to date +4.5% · Average volume (30d) 748.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jun 29, 2026 | Guggenheim | Reiterate | Buy | $120 | $125 |
| May 7, 2026 | BTIG | Reiterate | Buy | $140 | $130 |
| Mar 5, 2026 | BTIG | Reiterate | Buy | $160 | $140 |
| Jan 6, 2026 | Guggenheim | Target | $120 | ||
| Dec 1, 2025 | BTIG | Target | $160 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.18 | $0.15 | −18.2% | $109.2M | $109.4M | +0.2% | −38.89% |
| May 6, 2026Q1 FY26 | $0.03 | $0.34 | +981.8% | $97.1M | $108.4M | +11.6% | +14.13% |
| Mar 4, 2026Q4 FY25 | $0.06 | $0.11 | +82.7% | $87.2M | $96.1M | +10.2% | −10.71% |
| Dec 9, 2025Q3 FY25 | $0.14 | $0.10 | −28.3% | $82.9M | $83.5M | +0.8% | −5.32% |
Financial highlights
| 10 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $59.0M | $66.6M | $83.5M | $96.1M | $108.4M | $109.4M | |
| Gross profit | $38.0M | $43.5M | $58.4M | $68.6M | $79.1M | $77.1M | |
| Operating income | −$2.3M | −$1.6M | $9.6M | $10.3M | $17.8M | $5.5M | |
| Net income | −$4.0M | −$246.0K | $1.5M | $6.0M | $18.0M | $8.1M | |
| Diluted EPS | −$0.09 | −$0.01 | $0.03 | $0.10 | $0.34 | $0.15 | |
| Gross margin | 64.4% | 65.3% | 69.9% | 71.4% | 73.0% | 70.5% | |
| Operating margin | -3.9% | -2.4% | 11.5% | 10.8% | 16.5% | 5.0% |
Fiscal years (4-quarter sums)FY24 $152.6M · FY25 $305.1M
Balance sheet, Jun 30, 2026Cash & short-term investments $548.6M · Total debt $143.9M · Total assets $729.7M · Shareholders' equity $536.8M
Dividends
No dividends on record.
Ownership
Shares outstanding 46.00M · Float 5.46M · 11.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Adams Street Partners LLC | 1.71M | 3.72% | 13F | May 15, 2026 |
| Baillie Gifford & Co | 1.26M | 2.74% | 13F | May 8, 2026 |
| Civilization Ventures Management, LLC | 1.10M | 2.39% | 13F | May 15, 2026 |
| Bamco Inc /NY/ | 741.5K | 1.61% | 13F | May 15, 2026 |
| Price T Rowe Associates Inc /MD/ | 737.5K | 1.60% | 13F | May 15, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Natera
Prenatal cfDNA, carrier screening, and cancer MRD testing
- Labcorp
Prenatal cfDNA and carrier screening through a national lab network
- Quest Diagnostics
Prenatal cfDNA and carrier screening in national diagnostics
- Caris Life Sciences
Molecular profiling for therapy selection and cancer monitoring
- Myriad Genetics
NIPT and carrier screening in women's health
- Guardant Health
Liquid-biopsy profiling and response monitoring in advanced cancer
- Tempus AI
Genomic profiling for therapy selection in oncology
- NeoGenomics
Oncology molecular profiling and liquid-biopsy diagnostic testing
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| BillionToOne | $93.00 | −0.33% | $4.29B | 150.4 | 123.1 | 10.8 | — |
| Natera | $325.30 | −0.26% | $46.73B | — | — | 17.3 | +37.7% |
| Labcorp | $333.00 | −0.68% | $27.48B | 27.7 | 17.7 | 1.9 | +5.8% |
| Quest Diagnostics | $244.50 | +0.69% | $26.79B | 25.8 | 21.2 | 2.3 | +10.2% |
| Caris Life Sciences | $25.63 | −0.03% | $7.25B | 71.6 | 101.6 | 7.3 | +45.4% |
| Myriad Genetics | $3.16 | +0.48% | $298.5M | — | — | 0.4 | −10.5% |
| Guardant Health | $161.50 | −0.03% | $21.67B | — | — | 18.3 | +44.3% |
| Tempus AI | $63.44 | −0.89% | $11.22B | — | — | 7.8 | +21.6% |
| NeoGenomics | $18.20 | +0.86% | $463.8M | — | 64.9 | 0.6 | +11.2% |
| Median | 27.7 | 43.1 | 4.8 | +16.4% |