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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and GLADSTONE COMMERCIAL CORP (GOOD). Click either name above to swap in a different company.
BillionToOne, Inc. is the larger business by last-quarter revenue ($83.5M vs $41.9M, roughly 2.0× GLADSTONE COMMERCIAL CORP). GLADSTONE COMMERCIAL CORP runs the higher net margin — 16.6% vs 6.8%, a 9.8% gap on every dollar of revenue. On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs -3.6%).
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.
Gladstone Commercial Corp is a publicly traded US real estate investment trust focused on acquiring, owning, and operating diversified industrial and commercial properties. It offers long-term net lease agreements to tenants across manufacturing, logistics, healthcare and professional services sectors, mainly serving small to mid-sized business clients.
BLLN vs GOOD — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $41.9M |
| Net Profit | $5.7M | $7.0M |
| Gross Margin | 69.9% | — |
| Operating Margin | 11.5% | 160.2% |
| Net Margin | 6.8% | 16.6% |
| Revenue YoY | 117.4% | -3.6% |
| Net Profit YoY | 138.3% | 29.5% |
| EPS (diluted) | $0.10 | — |
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 | — | $41.9M | ||
| Q4 25 | — | $43.5M | ||
| Q3 25 | $83.5M | $40.8M | ||
| Q2 25 | — | $39.5M | ||
| Q1 25 | — | $37.5M | ||
| Q4 24 | $45.1M | $37.4M | ||
| Q3 24 | $38.4M | $39.2M | ||
| Q2 24 | — | $37.1M |
| Q1 26 | — | $7.0M | ||
| Q4 25 | — | $5.4M | ||
| Q3 25 | $5.7M | $4.1M | ||
| Q2 25 | — | $4.6M | ||
| Q1 25 | — | $5.1M | ||
| Q4 24 | $-11.5M | $7.2M | ||
| Q3 24 | $-14.9M | $11.7M | ||
| Q2 24 | — | $1.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 57.1% | — | ||
| Q3 24 | 52.6% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 160.2% | ||
| Q4 25 | — | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 17.0% | — | ||
| Q3 24 | -32.9% | — | ||
| Q2 24 | — | — |
| Q1 26 | — | 16.6% | ||
| Q4 25 | — | 12.4% | ||
| Q3 25 | 6.8% | 10.1% | ||
| Q2 25 | — | 11.7% | ||
| Q1 25 | — | 13.7% | ||
| Q4 24 | -25.5% | 19.2% | ||
| Q3 24 | -38.8% | 29.8% | ||
| Q2 24 | — | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | $0.05 | ||
| Q3 25 | $0.10 | $0.02 | ||
| Q2 25 | — | $0.03 | ||
| Q1 25 | — | $0.04 | ||
| Q4 24 | $-1.13 | $0.10 | ||
| Q3 24 | $-1.47 | $0.20 | ||
| Q2 24 | — | $-0.04 |
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 | — |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | — |
| Total Assets | $327.5M | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $10.8M | ||
| Q3 25 | $195.2M | $18.4M | ||
| Q2 25 | — | $11.7M | ||
| Q1 25 | — | $10.4M | ||
| Q4 24 | $191.5M | $11.0M | ||
| Q3 24 | — | $10.5M | ||
| Q2 24 | — | $10.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $843.5M | ||
| Q3 25 | $55.0M | $843.3M | ||
| Q2 25 | — | $794.4M | ||
| Q1 25 | — | $740.7M | ||
| Q4 24 | $51.5M | $693.4M | ||
| Q3 24 | — | $692.6M | ||
| Q2 24 | — | $722.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $171.8M | ||
| Q3 25 | $-239.5M | $184.8M | ||
| Q2 25 | — | $177.2M | ||
| Q1 25 | — | $183.2M | ||
| Q4 24 | $-251.7M | $171.2M | ||
| Q3 24 | $-242.9M | $168.9M | ||
| Q2 24 | — | $145.7M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | $327.5M | $1.3B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | $302.1M | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.91× | ||
| Q3 25 | — | 4.56× | ||
| Q2 25 | — | 4.48× | ||
| Q1 25 | — | 4.04× | ||
| Q4 24 | — | 4.05× | ||
| Q3 24 | — | 4.10× | ||
| Q2 24 | — | 4.96× |
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 | — | $88.2M | ||
| Q3 25 | $13.8M | $18.9M | ||
| Q2 25 | — | $35.8M | ||
| Q1 25 | — | $17.7M | ||
| Q4 24 | — | $57.0M | ||
| Q3 24 | — | $5.5M | ||
| Q2 24 | — | $13.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $6.5M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 16.38× | ||
| Q3 25 | 2.42× | 4.57× | ||
| Q2 25 | — | 7.74× | ||
| Q1 25 | — | 3.44× | ||
| Q4 24 | — | 7.93× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 8.44× |
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% |
GOOD
Segment breakdown not available.
