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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and Primis Financial Corp. (FRST). Click either name above to swap in a different company.
BillionToOne, Inc. is the larger business by last-quarter revenue ($83.5M vs $45.6M, roughly 1.8× Primis Financial Corp.). Primis Financial Corp. runs the higher net margin — 16.0% vs 6.8%, a 9.2% gap on every dollar of revenue.
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.
Primis Financial Corp is a U.S.-based financial holding company operating full-service banking subsidiaries. It provides a comprehensive range of financial solutions including personal and commercial deposit products, diverse loan facilities, mortgage services, and wealth management support, primarily serving retail and corporate customers across the U.S. mid-Atlantic region.
BLLN vs FRST — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $45.6M |
| Net Profit | $5.7M | $7.3M |
| Gross Margin | 69.9% | — |
| Operating Margin | 11.5% | — |
| Net Margin | 6.8% | 16.0% |
| Revenue YoY | 117.4% | — |
| Net Profit YoY | 138.3% | 200.0% |
| EPS (diluted) | $0.10 | $0.30 |
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.
| Q1 26 | — | $45.6M | ||
| Q4 25 | — | $80.9M | ||
| Q3 25 | $83.5M | $41.0M | ||
| Q2 25 | — | $43.2M | ||
| Q1 25 | — | $58.7M | ||
| Q4 24 | — | $38.8M | ||
| Q3 24 | $38.4M | $37.3M | ||
| Q2 24 | — | $35.7M |
| Q1 26 | — | $7.3M | ||
| Q4 25 | — | $29.5M | ||
| Q3 25 | $5.7M | $6.8M | ||
| Q2 25 | — | $2.4M | ||
| Q1 25 | — | $22.6M | ||
| Q4 24 | — | $-26.2M | ||
| Q3 24 | $-14.9M | $1.2M | ||
| Q2 24 | — | $3.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 52.6% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 44.8% | ||
| Q3 25 | 11.5% | 21.3% | ||
| Q2 25 | — | 6.9% | ||
| Q1 25 | — | 41.9% | ||
| Q4 24 | — | -123.0% | ||
| Q3 24 | -32.9% | -3.1% | ||
| Q2 24 | — | 7.8% |
| Q1 26 | — | 16.0% | ||
| Q4 25 | — | 36.5% | ||
| Q3 25 | 6.8% | 16.7% | ||
| Q2 25 | — | 5.6% | ||
| Q1 25 | — | 38.6% | ||
| Q4 24 | — | -100.3% | ||
| Q3 24 | -38.8% | 3.3% | ||
| Q2 24 | — | 9.6% |
| Q1 26 | — | $0.30 | ||
| Q4 25 | — | $1.19 | ||
| Q3 25 | $0.10 | $0.28 | ||
| Q2 25 | — | $0.10 | ||
| Q1 25 | — | $0.92 | ||
| Q4 24 | — | $-0.95 | ||
| Q3 24 | $-1.47 | $0.05 | ||
| Q2 24 | — | $0.14 |
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 | $159.9M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $427.2M |
| Total Assets | $327.5M | $4.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $159.9M | ||
| Q4 25 | — | $143.6M | ||
| Q3 25 | $195.2M | $63.9M | ||
| Q2 25 | — | $94.1M | ||
| Q1 25 | — | $57.0M | ||
| Q4 24 | — | $64.5M | ||
| Q3 24 | — | $77.3M | ||
| Q2 24 | — | $66.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $55.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $427.2M | ||
| Q4 25 | — | $422.9M | ||
| Q3 25 | $-239.5M | $382.2M | ||
| Q2 25 | — | $376.4M | ||
| Q1 25 | — | $375.6M | ||
| Q4 24 | — | $351.8M | ||
| Q3 24 | $-242.9M | $381.0M | ||
| Q2 24 | — | $376.0M |
| Q1 26 | — | $4.3B | ||
| Q4 25 | — | $4.0B | ||
| Q3 25 | $327.5M | $4.0B | ||
| Q2 25 | — | $3.9B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $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 | — |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | — | $10.8M | ||
| Q3 25 | $13.8M | $-11.4M | ||
| Q2 25 | — | $-41.0M | ||
| Q1 25 | — | $34.4M | ||
| Q4 24 | — | $19.5M | ||
| Q3 24 | — | $6.1M | ||
| Q2 24 | — | $52.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $9.0M | ||
| Q3 25 | $6.5M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $18.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.2% | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 47.3% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.1% | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.1% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.36× | ||
| Q3 25 | 2.42× | -1.67× | ||
| Q2 25 | — | -16.82× | ||
| Q1 25 | — | 1.52× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 4.93× | ||
| Q2 24 | — | 15.21× |
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% |
FRST
| Net Interest Income | $32.1M | 70% |
| Noninterest Income | $13.6M | 30% |
