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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and Clarus Corp (CLAR). Click either name above to swap in a different company.
BillionToOne, Inc. is the larger business by last-quarter revenue ($83.5M vs $65.4M, roughly 1.3× Clarus Corp). BillionToOne, Inc. runs the higher net margin — 6.8% vs -47.8%, a 54.6% gap on every dollar of revenue. On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs -8.4%). Clarus Corp produced more free cash flow last quarter ($11.6M vs $6.5M).
BillionToOne, Inc. is a life sciences and molecular diagnostics firm developing high-precision genetic testing solutions. Its core offerings include non-invasive prenatal tests, oncology diagnostics, and rare disease screening, serving clinical providers and patients mainly in North America.
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
BLLN vs CLAR — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $65.4M |
| Net Profit | $5.7M | $-31.3M |
| Gross Margin | 69.9% | 27.7% |
| Operating Margin | 11.5% | -59.6% |
| Net Margin | 6.8% | -47.8% |
| Revenue YoY | 117.4% | -8.4% |
| Net Profit YoY | 138.3% | 52.3% |
| EPS (diluted) | $0.10 | $-0.81 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $65.4M | ||
| Q3 25 | $83.5M | $69.3M | ||
| Q2 25 | — | $55.2M | ||
| Q1 25 | — | $60.4M | ||
| Q4 24 | — | $71.4M | ||
| Q3 24 | $38.4M | $67.1M | ||
| Q2 24 | — | $56.5M | ||
| Q1 24 | — | $69.3M |
| Q4 25 | — | $-31.3M | ||
| Q3 25 | $5.7M | $-1.6M | ||
| Q2 25 | — | $-8.4M | ||
| Q1 25 | — | $-5.2M | ||
| Q4 24 | — | $-65.5M | ||
| Q3 24 | $-14.9M | $-3.2M | ||
| Q2 24 | — | $-5.5M | ||
| Q1 24 | — | $21.9M |
| Q4 25 | — | 27.7% | ||
| Q3 25 | 69.9% | 35.1% | ||
| Q2 25 | — | 35.6% | ||
| Q1 25 | — | 34.4% | ||
| Q4 24 | — | 33.4% | ||
| Q3 24 | 52.6% | 35.0% | ||
| Q2 24 | — | 36.1% | ||
| Q1 24 | — | 35.9% |
| Q4 25 | — | -59.6% | ||
| Q3 25 | 11.5% | -4.4% | ||
| Q2 25 | — | -19.7% | ||
| Q1 25 | — | -11.2% | ||
| Q4 24 | — | -70.2% | ||
| Q3 24 | -32.9% | -8.0% | ||
| Q2 24 | — | -14.4% | ||
| Q1 24 | — | -9.8% |
| Q4 25 | — | -47.8% | ||
| Q3 25 | 6.8% | -2.3% | ||
| Q2 25 | — | -15.3% | ||
| Q1 25 | — | -8.7% | ||
| Q4 24 | — | -91.8% | ||
| Q3 24 | -38.8% | -4.7% | ||
| Q2 24 | — | -9.7% | ||
| Q1 24 | — | 31.6% |
| Q4 25 | — | $-0.81 | ||
| Q3 25 | $0.10 | $-0.04 | ||
| Q2 25 | — | $-0.22 | ||
| Q1 25 | — | $-0.14 | ||
| Q4 24 | — | $-1.72 | ||
| Q3 24 | $-1.47 | $-0.08 | ||
| Q2 24 | — | $-0.14 | ||
| Q1 24 | — | $0.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $195.2M | $36.7M |
| Total DebtLower is stronger | $55.0M | $0 |
| Stockholders' EquityBook value | $-239.5M | $196.4M |
| Total Assets | $327.5M | $249.0M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $36.7M | ||
| Q3 25 | $195.2M | $29.5M | ||
| Q2 25 | — | $28.5M | ||
| Q1 25 | — | $41.3M | ||
| Q4 24 | — | $45.4M | ||
| Q3 24 | — | $36.4M | ||
| Q2 24 | — | $46.2M | ||
| Q1 24 | — | $47.5M |
| Q4 25 | — | $0 | ||
| Q3 25 | $55.0M | $2.0M | ||
| Q2 25 | — | $1.9M | ||
| Q1 25 | — | $1.9M | ||
| Q4 24 | — | $1.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $37.0K |
| Q4 25 | — | $196.4M | ||
| Q3 25 | $-239.5M | $225.8M | ||
| Q2 25 | — | $225.1M | ||
| Q1 25 | — | $229.3M | ||
| Q4 24 | — | $233.1M | ||
| Q3 24 | $-242.9M | $308.5M | ||
| Q2 24 | — | $307.3M | ||
| Q1 24 | — | $310.4M |
| Q4 25 | — | $249.0M | ||
| Q3 25 | $327.5M | $283.1M | ||
| Q2 25 | — | $286.5M | ||
| Q1 25 | — | $292.8M | ||
| Q4 24 | — | $294.1M | ||
| Q3 24 | — | $375.3M | ||
| Q2 24 | — | $369.4M | ||
| Q1 24 | — | $377.0M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.00× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $13.8M | $12.5M |
| Free Cash FlowOCF − Capex | $6.5M | $11.6M |
| FCF MarginFCF / Revenue | 7.7% | 17.7% |
| Capex IntensityCapex / Revenue | 8.8% | 1.4% |
| Cash ConversionOCF / Net Profit | 2.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $12.5M | ||
| Q3 25 | $13.8M | $-5.7M | ||
| Q2 25 | — | $-9.4M | ||
| Q1 25 | — | $-2.1M | ||
| Q4 24 | — | $16.6M | ||
| Q3 24 | — | $-8.3M | ||
| Q2 24 | — | $834.0K | ||
| Q1 24 | — | $-16.4M |
| Q4 25 | — | $11.6M | ||
| Q3 25 | $6.5M | $-7.0M | ||
| Q2 25 | — | $-11.3M | ||
| Q1 25 | — | $-3.3M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | — | $-9.4M | ||
| Q2 24 | — | $-744.0K | ||
| Q1 24 | — | $-18.3M |
| Q4 25 | — | 17.7% | ||
| Q3 25 | 7.7% | -10.0% | ||
| Q2 25 | — | -20.4% | ||
| Q1 25 | — | -5.4% | ||
| Q4 24 | — | 20.1% | ||
| Q3 24 | — | -14.0% | ||
| Q2 24 | — | -1.3% | ||
| Q1 24 | — | -26.3% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | 8.8% | 1.8% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | — | — | ||
| Q3 25 | 2.42× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLLN
| Prenatal | $74.1M | 89% |
| Oncology | $8.7M | 10% |
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
