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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and Flywire Corp (FLYW). Click either name above to swap in a different company.
Flywire Corp is the larger business by last-quarter revenue ($157.5M vs $83.5M, roughly 1.9× BillionToOne, Inc.). BillionToOne, Inc. runs the higher net margin — 6.8% vs 0.0%, a 6.8% gap on every dollar of revenue. On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs 34.0%). BillionToOne, Inc. produced more free cash flow last quarter ($6.5M vs $4.5M).
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.
Flywire Corp is a global payment and receivables solutions provider serving core verticals including education, healthcare, travel, and B2B commerce. It offers secure cross-border payment processing, currency conversion, and workflow tools for organizations and payers worldwide.
BLLN vs FLYW — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $157.5M |
| Net Profit | $5.7M | $33.0K |
| Gross Margin | 69.9% | — |
| Operating Margin | 11.5% | -0.6% |
| Net Margin | 6.8% | 0.0% |
| Revenue YoY | 117.4% | 34.0% |
| Net Profit YoY | 138.3% | 100.2% |
| EPS (diluted) | $0.10 | $0.01 |
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 | — | $157.5M | ||
| Q3 25 | $83.5M | $200.1M | ||
| Q2 25 | — | $131.9M | ||
| Q1 25 | — | $133.5M | ||
| Q4 24 | — | $117.5M | ||
| Q3 24 | $38.4M | $156.8M | ||
| Q2 24 | — | $103.7M | ||
| Q1 24 | — | $114.1M |
| Q4 25 | — | $33.0K | ||
| Q3 25 | $5.7M | $29.6M | ||
| Q2 25 | — | $-12.0M | ||
| Q1 25 | — | $-4.2M | ||
| Q4 24 | — | $-15.9M | ||
| Q3 24 | $-14.9M | $38.9M | ||
| Q2 24 | — | $-13.9M | ||
| Q1 24 | — | $-6.2M |
| Q4 25 | — | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 52.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -0.6% | ||
| Q3 25 | 11.5% | 16.1% | ||
| Q2 25 | — | -6.8% | ||
| Q1 25 | — | -8.2% | ||
| Q4 24 | — | -4.9% | ||
| Q3 24 | -32.9% | 12.9% | ||
| Q2 24 | — | -15.2% | ||
| Q1 24 | — | -5.2% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 6.8% | 14.8% | ||
| Q2 25 | — | -9.1% | ||
| Q1 25 | — | -3.1% | ||
| Q4 24 | — | -13.5% | ||
| Q3 24 | -38.8% | 24.8% | ||
| Q2 24 | — | -13.4% | ||
| Q1 24 | — | -5.4% |
| Q4 25 | — | $0.01 | ||
| Q3 25 | $0.10 | $0.23 | ||
| Q2 25 | — | $-0.10 | ||
| Q1 25 | — | $-0.03 | ||
| Q4 24 | — | $-0.12 | ||
| Q3 24 | $-1.47 | $0.30 | ||
| Q2 24 | — | $-0.11 | ||
| Q1 24 | — | $-0.05 |
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 | $355.0M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $835.2M |
| Total Assets | $327.5M | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $355.0M | ||
| Q3 25 | $195.2M | $377.3M | ||
| Q2 25 | — | $274.2M | ||
| Q1 25 | — | $255.3M | ||
| Q4 24 | — | $611.1M | ||
| Q3 24 | — | $681.1M | ||
| Q2 24 | — | $571.0M | ||
| Q1 24 | — | $619.0M |
| Q4 25 | — | — | ||
| Q3 25 | $55.0M | $15.0M | ||
| Q2 25 | — | $60.0M | ||
| Q1 25 | — | $60.0M | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $835.2M | ||
| Q3 25 | $-239.5M | $829.1M | ||
| Q2 25 | — | $792.4M | ||
| Q1 25 | — | $784.3M | ||
| Q4 24 | — | $814.8M | ||
| Q3 24 | $-242.9M | $843.2M | ||
| Q2 24 | — | $802.6M | ||
| Q1 24 | — | $-797.0M |
| Q4 25 | — | $1.3B | ||
| Q3 25 | $327.5M | $1.3B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $998.7M | ||
| Q1 24 | — | $998.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $4.9M |
| Free Cash FlowOCF − Capex | $6.5M | $4.5M |
| FCF MarginFCF / Revenue | 7.7% | 2.9% |
| Capex IntensityCapex / Revenue | 8.8% | 0.2% |
| Cash ConversionOCF / Net Profit | 2.42× | 148.06× |
| TTM Free Cash FlowTrailing 4 quarters | — | $98.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.9M | ||
| Q3 25 | $13.8M | $150.1M | ||
| Q2 25 | — | $24.1M | ||
| Q1 25 | — | $-78.9M | ||
| Q4 24 | — | $-28.6M | ||
| Q3 24 | — | $184.6M | ||
| Q2 24 | — | $-19.3M | ||
| Q1 24 | — | $-38.1M |
| Q4 25 | — | $4.5M | ||
| Q3 25 | $6.5M | $149.9M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $-79.1M | ||
| Q4 24 | — | $-28.7M | ||
| Q3 24 | — | $184.4M | ||
| Q2 24 | — | $-19.7M | ||
| Q1 24 | — | $-38.3M |
| Q4 25 | — | 2.9% | ||
| Q3 25 | 7.7% | 74.9% | ||
| Q2 25 | — | 17.8% | ||
| Q1 25 | — | -59.3% | ||
| Q4 24 | — | -24.4% | ||
| Q3 24 | — | 117.6% | ||
| Q2 24 | — | -19.0% | ||
| Q1 24 | — | -33.6% |
| Q4 25 | — | 0.2% | ||
| Q3 25 | 8.8% | 0.1% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | — | 148.06× | ||
| Q3 25 | 2.42× | 5.07× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 4.75× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
FLYW
| Transactions | $126.4M | 80% |
| Platform And Other Revenues | $31.1M | 20% |
