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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and DYNEX CAPITAL INC (DX). Click either name above to swap in a different company.
BillionToOne, Inc. is the larger business by last-quarter revenue ($83.5M vs $43.5M, roughly 1.9× DYNEX CAPITAL INC). On growth, DYNEX CAPITAL INC posted the faster year-over-year revenue change (531.3% vs 117.4%).
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.
Dynex Capital Inc. is a publicly traded real estate investment trust headquartered in the United States. It specializes in investing in and managing a diversified portfolio of mortgage-backed securities, residential and commercial mortgage loans, and other mortgage-related assets. It delivers consistent returns to shareholders via regular dividends and long-term capital growth.
BLLN vs DX — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $43.5M |
| Net Profit | $5.7M | — |
| Gross Margin | 69.9% | — |
| Operating Margin | 11.5% | — |
| Net Margin | 6.8% | — |
| Revenue YoY | 117.4% | 531.3% |
| Net Profit YoY | 138.3% | — |
| EPS (diluted) | $0.10 | $1.59 |
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 | — | $43.5M | ||
| Q3 25 | $83.5M | $30.6M | ||
| Q2 25 | — | $23.1M | ||
| Q1 25 | — | $17.1M | ||
| Q3 24 | $38.4M | — | ||
| Q1 24 | — | $-3.2M | ||
| Q4 22 | — | $6.2M | ||
| Q3 22 | — | $7.1M |
| Q4 25 | — | — | ||
| Q3 25 | $5.7M | $150.4M | ||
| Q2 25 | — | $-13.6M | ||
| Q1 25 | — | $-3.1M | ||
| Q3 24 | $-14.9M | — | ||
| Q1 24 | — | $40.1M | ||
| Q4 22 | — | $43.3M | ||
| Q3 22 | — | $-46.7M |
| Q4 25 | — | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | 52.6% | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | -32.9% | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 6.8% | 491.3% | ||
| Q2 25 | — | -58.8% | ||
| Q1 25 | — | -18.0% | ||
| Q3 24 | -38.8% | — | ||
| Q1 24 | — | -1256.8% | ||
| Q4 22 | — | 697.2% | ||
| Q3 22 | — | -655.3% |
| Q4 25 | — | $1.59 | ||
| Q3 25 | $0.10 | $1.08 | ||
| Q2 25 | — | $-0.14 | ||
| Q1 25 | — | $-0.06 | ||
| Q3 24 | $-1.47 | — | ||
| Q1 24 | — | $0.64 | ||
| Q4 22 | — | $0.44 | ||
| Q3 22 | — | $-1.07 |
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 | $531.0M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $2.5B |
| Total Assets | $327.5M | $17.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $531.0M | ||
| Q3 25 | $195.2M | $491.0M | ||
| Q2 25 | — | $387.5M | ||
| Q1 25 | — | $327.4M | ||
| Q3 24 | — | — | ||
| Q1 24 | — | $295.7M | ||
| Q4 22 | — | $332.0M | ||
| Q3 22 | — | $260.4M |
| Q4 25 | — | — | ||
| Q3 25 | $55.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q4 25 | — | $2.5B | ||
| Q3 25 | $-239.5M | $2.0B | ||
| Q2 25 | — | $1.6B | ||
| Q1 25 | — | $1.4B | ||
| Q3 24 | $-242.9M | — | ||
| Q1 24 | — | $958.5M | ||
| Q4 22 | — | $901.3M | ||
| Q3 22 | — | $771.3M |
| Q4 25 | — | $17.3B | ||
| Q3 25 | $327.5M | $14.2B | ||
| Q2 25 | — | $11.3B | ||
| Q1 25 | — | $9.0B | ||
| Q3 24 | — | — | ||
| Q1 24 | — | $6.3B | ||
| Q4 22 | — | $3.6B | ||
| Q3 22 | — | $4.0B |
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 | $120.8M |
| Free Cash FlowOCF − Capex | $6.5M | — |
| FCF MarginFCF / Revenue | 7.7% | — |
| Capex IntensityCapex / Revenue | 8.8% | — |
| Cash ConversionOCF / Net Profit | 2.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $120.8M | ||
| Q3 25 | $13.8M | $68.3M | ||
| Q2 25 | — | $31.9M | ||
| Q1 25 | — | $6.4M | ||
| Q3 24 | — | — | ||
| Q1 24 | — | $-17.1M | ||
| Q4 22 | — | $30.1M | ||
| Q3 22 | — | $25.5M |
| Q4 25 | — | — | ||
| Q3 25 | $6.5M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 22 | — | — | ||
| Q3 22 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 2.42× | 0.45× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q1 24 | — | -0.43× | ||
| Q4 22 | — | 0.69× | ||
| Q3 22 | — | — |
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% |
DX
Segment breakdown not available.
