# BillionToOne, Class A Common Stock (BLLN.US)

Canonical: https://gigainvestors.com/s/BLLN

Analysis as of: 2026-10-16T07:26:59.147Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $102.73 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Dan Davidowitz](https://gigainvestors.com/pcm): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 26% since Jul 2026

Story as of 2026-10-16T10:01:28.142Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in diagnostics & research; annual sales are USD 305.1 million.

- Source: https://www.sec.gov/Archives/edgar/data/2070849/000207084926000017/blln-20251231.htm (filed 2026-03-11); FY2025: revenue 305112000; grossProfit 208458000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); BLLN.US: BillionToOne, Inc., a precision diagnostics company, quantifies biology to create molecular diagnostics. The company provides molecular counting platform, which is designed to detect and measure DNA molecules at the single-count level to help enhance disease detection. It also offers UNITY Complete, a non-invasive prenatal screen that assesses fetal risk for aneuploidies, recessive conditions, and fetal antigens from a maternal blood draw; Northstar Select, a liquid biopsy test that provides a list of mutations that are present in the tumor and types of mutations detected that include deletions, insertions, and point mutations; and Northstar Response, a methylation-based assay that quantifies the amount of cancer at the single molecule level without requiring a tissue biopsy, enabling real-time monitoring of patient response to therapy with unprecedented precision. BillionToOne, Inc. was incorporated in 2016 and is headquartered in Menlo Park, California.

### Why customers stay

Margins ranged from 24.1% to 68.3% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-11); FY2023: grossProfit / revenue = 24.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-11); FY2024: grossProfit / revenue = 53%.

- Source: https://www.sec.gov/Archives/edgar/data/2070849/000207084926000017/blln-20251231.htm (filed 2026-03-11); FY2025: grossProfit / revenue = 68.3%.

### Where the cash goes

Paid no dividends in 3 years.

- Source: https://www.sec.gov/Archives/edgar/data/2070849/000207084926000017/blln-20251231.htm (filed 2026-03-11); FY2025: growth capex 0; upkeep 8881000; owner earnings 10480000. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-11); Dividend observations: [[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 28.4% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); BLLN.US SharesStats.PercentInsiders = 28.360000000000003 percentage points; cache date 2026-10-16.

### What the price says

The price is 7.1 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-11); Closing price 102.73 USD; reporting-to-trading FX 1; FY2025 annual sales per share 14.371229054910538; price multiple 7.1483099745667165. FY2025 cash earnings/share 0.49362358902784037. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2025-11: $130.18 per share

- 2025-12: $81.84 per share

- 2026-01: $82.51 per share

- 2026-02: $76.33 per share

- 2026-03: $78.94 per share

- 2026-04: $75.05 per share

- 2026-05: $98.99 per share

- 2026-06: $119.98 per share

- 2026-07: $138.60 per share

- 2026-08: $90.67 per share

- 2026-09: $106.44 per share

- 2026-10: $102.73 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/2070849/000207084926000017/blln-20251231.htm); period 2025-12-31, filed 2026-03-11.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.