BillionToOne 2025 Q3 Earnings Profitability Surges 138% as Revenue Soars

BillionToOne (BLLN) delivered a strong earnings report for Q3 2025, with revenue surging 117% to $83.52 million and net income turning positive at $5.71 million. While GAAP EPS of $0.10 missed the $0.16 consensus, the company raised full-year revenue guidance to $293–$299 million and confirmed positive operating income for 2025, reflecting operational improvements and strategic momentum.

Revenue

BillionToOne’s total revenue climbed 117.4% year-over-year to $83.52 million in Q3 2025, driven by robust growth across its core segments. Prenatal testing led the charge with $74.07 million, reflecting a 102% increase, while oncology revenue surged 664% to $8.69 million. Clinical trial support services contributed $761,000, rounding out the $83.52 million total. The performance was fueled by a 52% rise in delivered test volumes and a 44% increase in average selling price (ASP), underscoring pricing power and market adoption.

Earnings/Net Income

The company returned to profitability, reporting net income of $5.71 million in Q3 2025 compared to a $14.90 million loss in the prior-year period, a 138.3% improvement. Earnings per share (EPS) turned positive at $0.14, reversing from a $1.47 loss. Despite the EPS miss relative to expectations, the net income turnaround highlights operational efficiency gains and cost discipline.

Post-Earnings Price Action Review

Following the earnings release, BillionToOne’s stock demonstrated mixed near-term performance. Shares edged up 1.67% on the latest trading day, 0.91% over the past week, and 3.67% month-to-date as of Dec. 10, 2025. Analysts at JPMorgan revised the price target to $145 from $150, maintaining an “overweight” rating, while other firms like BTIG and William Blair expressed optimism about the company’s growth trajectory. The stock’s performance reflects investor confidence in BillionToOne’s innovative platform and expanding market share.

CEO Commentary

CEO Oguzhan Atay called Q3 2025 “stunning,” highlighting 117% revenue growth and 70% gross margins driven by ASV expansion and cost reductions. Strategic priorities include accelerating EMR integration (e.g., Epic Aura) and advancing oncology tests like NorthStar Response, with Medicare coverage anticipated by 2026. Atay emphasized capital efficiency and disciplined growth, positioning BillionToOne for potential inclusion in the S&P 500.

Guidance

BillionToOne raised full-year 2025 revenue guidance to $293–$299 million (92–96% YoY growth) and expects Q4 revenue of $84–$90 million (86–100% YoY growth). The company anticipates positive GAAP operating income for both Q4 and full-year 2025, signaling sustained profitability.

Additional News

1. Leadership Expansion: BillionToOne appointed Genmab CFO Anthony Pagano to its board, effective January 1, 2026. Pagano, a seasoned financial leader, brings experience from Genmab’s growth from $100 million to $3 billion in revenue.

2. Price Target Adjustments: JPMorgan lowered its price target to $145 from $150 but maintained an “overweight” rating, citing the stock’s potential for 43.5% upside.

3. Strategic Expansion: The company expanded its lab operations with a second 90,000-square-foot facility in Union City, CA, complementing its Menlo Park site. The 10-Q report highlighted $209.1 million in nine-month revenue and $1.5 million net income, underscoring operational resilience.