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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and JFrog Ltd (FROG). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $83.5M, roughly 1.7× BillionToOne, Inc.). BillionToOne, Inc. runs the higher net margin — 6.8% vs -10.5%, a 17.3% gap on every dollar of revenue. On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs 25.2%). JFrog Ltd produced more free cash flow last quarter ($49.9M 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.
JFrog Ltd is a global DevOps technology provider that delivers end-to-end software release, artifact management, and security solutions. It serves clients across tech, finance, retail, and manufacturing sectors, helping teams streamline development and delivery workflows for cloud, on-premises, and hybrid infrastructure.
BLLN vs FROG — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $145.3M |
| Net Profit | $5.7M | $-15.2M |
| Gross Margin | 69.9% | 77.9% |
| Operating Margin | 11.5% | -14.7% |
| Net Margin | 6.8% | -10.5% |
| Revenue YoY | 117.4% | 25.2% |
| Net Profit YoY | 138.3% | 34.4% |
| EPS (diluted) | $0.10 | $-0.13 |
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 | — | $145.3M | ||
| Q3 25 | $83.5M | $136.9M | ||
| Q2 25 | — | $127.2M | ||
| Q1 25 | — | $122.4M | ||
| Q4 24 | — | $116.1M | ||
| Q3 24 | $38.4M | $109.1M | ||
| Q2 24 | — | $103.0M | ||
| Q1 24 | — | $100.3M |
| Q4 25 | — | $-15.2M | ||
| Q3 25 | $5.7M | $-16.4M | ||
| Q2 25 | — | $-21.7M | ||
| Q1 25 | — | $-18.5M | ||
| Q4 24 | — | $-23.2M | ||
| Q3 24 | $-14.9M | $-22.9M | ||
| Q2 24 | — | $-14.3M | ||
| Q1 24 | — | $-8.8M |
| Q4 25 | — | 77.9% | ||
| Q3 25 | 69.9% | 77.4% | ||
| Q2 25 | — | 76.3% | ||
| Q1 25 | — | 75.3% | ||
| Q4 24 | — | 75.4% | ||
| Q3 24 | 52.6% | 75.0% | ||
| Q2 24 | — | 78.8% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | — | -14.7% | ||
| Q3 25 | 11.5% | -15.8% | ||
| Q2 25 | — | -20.4% | ||
| Q1 25 | — | -18.8% | ||
| Q4 24 | — | -21.9% | ||
| Q3 24 | -32.9% | -27.4% | ||
| Q2 24 | — | -18.6% | ||
| Q1 24 | — | -16.6% |
| Q4 25 | — | -10.5% | ||
| Q3 25 | 6.8% | -12.0% | ||
| Q2 25 | — | -17.0% | ||
| Q1 25 | — | -15.1% | ||
| Q4 24 | — | -20.0% | ||
| Q3 24 | -38.8% | -21.0% | ||
| Q2 24 | — | -13.9% | ||
| Q1 24 | — | -8.8% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | $0.10 | $-0.14 | ||
| Q2 25 | — | $-0.19 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $-0.21 | ||
| Q3 24 | $-1.47 | $-0.21 | ||
| Q2 24 | — | $-0.13 | ||
| Q1 24 | — | $-0.08 |
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 | $704.4M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $887.4M |
| Total Assets | $327.5M | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $704.4M | ||
| Q3 25 | $195.2M | $651.1M | ||
| Q2 25 | — | $611.7M | ||
| Q1 25 | — | $563.5M | ||
| Q4 24 | — | $522.0M | ||
| Q3 24 | — | $467.8M | ||
| Q2 24 | — | $591.3M | ||
| Q1 24 | — | $579.6M |
| Q4 25 | — | — | ||
| Q3 25 | $55.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $887.4M | ||
| Q3 25 | $-239.5M | $859.4M | ||
| Q2 25 | — | $826.5M | ||
| Q1 25 | — | $800.0M | ||
| Q4 24 | — | $773.5M | ||
| Q3 24 | $-242.9M | $756.2M | ||
| Q2 24 | — | $721.4M | ||
| Q1 24 | — | $707.8M |
| Q4 25 | — | $1.3B | ||
| Q3 25 | $327.5M | $1.3B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $997.1M |
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 | $50.7M |
| Free Cash FlowOCF − Capex | $6.5M | $49.9M |
| FCF MarginFCF / Revenue | 7.7% | 34.3% |
| Capex IntensityCapex / Revenue | 8.8% | 0.6% |
| Cash ConversionOCF / Net Profit | 2.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $142.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $50.7M | ||
| Q3 25 | $13.8M | $30.2M | ||
| Q2 25 | — | $36.1M | ||
| Q1 25 | — | $28.8M | ||
| Q4 24 | — | $49.1M | ||
| Q3 24 | — | $27.6M | ||
| Q2 24 | — | $16.7M | ||
| Q1 24 | — | $17.5M |
| Q4 25 | — | $49.9M | ||
| Q3 25 | $6.5M | $28.8M | ||
| Q2 25 | — | $35.5M | ||
| Q1 25 | — | $28.1M | ||
| Q4 24 | — | $48.5M | ||
| Q3 24 | — | $26.7M | ||
| Q2 24 | — | $16.0M | ||
| Q1 24 | — | $16.6M |
| Q4 25 | — | 34.3% | ||
| Q3 25 | 7.7% | 21.0% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | 23.0% | ||
| Q4 24 | — | 41.8% | ||
| Q3 24 | — | 24.5% | ||
| Q2 24 | — | 15.5% | ||
| Q1 24 | — | 16.6% |
| Q4 25 | — | 0.6% | ||
| Q3 25 | 8.8% | 1.0% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | — | — | ||
| Q3 25 | 2.42× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
FROG
Segment breakdown not available.
