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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and Globalstar, Inc. (GSAT). Click either name above to swap in a different company.
BillionToOne, Inc. is the larger business by last-quarter revenue ($83.5M vs $72.0M, roughly 1.2× Globalstar, Inc.). BillionToOne, Inc. runs the higher net margin — 6.8% vs -16.1%, a 23.0% gap on every dollar of revenue. On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs 17.6%).
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.
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
BLLN vs GSAT — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $72.0M |
| Net Profit | $5.7M | $-11.6M |
| Gross Margin | 69.9% | — |
| Operating Margin | 11.5% | -0.5% |
| Net Margin | 6.8% | -16.1% |
| Revenue YoY | 117.4% | 17.6% |
| Net Profit YoY | 138.3% | 76.9% |
| EPS (diluted) | $0.10 | $-0.11 |
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 | — | $72.0M | ||
| Q3 25 | $83.5M | $73.8M | ||
| Q2 25 | — | $67.1M | ||
| Q1 25 | — | $60.0M | ||
| Q4 24 | — | $61.2M | ||
| Q3 24 | $38.4M | $72.3M | ||
| Q2 24 | — | $60.4M | ||
| Q1 24 | — | $56.5M |
| Q4 25 | — | $-11.6M | ||
| Q3 25 | $5.7M | $1.1M | ||
| Q2 25 | — | $19.2M | ||
| Q1 25 | — | $-17.3M | ||
| Q4 24 | — | $-50.2M | ||
| Q3 24 | $-14.9M | $9.9M | ||
| Q2 24 | — | $-9.7M | ||
| Q1 24 | — | $-13.2M |
| Q4 25 | — | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 52.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -0.5% | ||
| Q3 25 | 11.5% | 13.8% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | — | -14.2% | ||
| Q4 24 | — | -6.9% | ||
| Q3 24 | -32.9% | 13.0% | ||
| Q2 24 | — | -2.4% | ||
| Q1 24 | — | -8.3% |
| Q4 25 | — | -16.1% | ||
| Q3 25 | 6.8% | 1.5% | ||
| Q2 25 | — | 28.6% | ||
| Q1 25 | — | -28.9% | ||
| Q4 24 | — | -82.1% | ||
| Q3 24 | -38.8% | 13.7% | ||
| Q2 24 | — | -16.0% | ||
| Q1 24 | — | -23.4% |
| Q4 25 | — | $-0.11 | ||
| Q3 25 | $0.10 | $-0.01 | ||
| Q2 25 | — | $0.13 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $-0.57 | ||
| Q3 24 | $-1.47 | $0.00 | ||
| Q2 24 | — | $-0.01 | ||
| Q1 24 | — | $-0.01 |
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 | $447.5M |
| Total DebtLower is stronger | $55.0M | $483.8M |
| Stockholders' EquityBook value | $-239.5M | $355.7M |
| Total Assets | $327.5M | $2.3B |
| Debt / EquityLower = less leverage | — | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $447.5M | ||
| Q3 25 | $195.2M | $346.3M | ||
| Q2 25 | — | $308.2M | ||
| Q1 25 | — | $241.4M | ||
| Q4 24 | — | $391.2M | ||
| Q3 24 | — | $51.9M | ||
| Q2 24 | — | $64.3M | ||
| Q1 24 | — | $59.3M |
| Q4 25 | — | $483.8M | ||
| Q3 25 | $55.0M | $508.6M | ||
| Q2 25 | — | $491.5M | ||
| Q1 25 | — | $502.7M | ||
| Q4 24 | — | $511.4M | ||
| Q3 24 | — | $394.4M | ||
| Q2 24 | — | $393.1M | ||
| Q1 24 | — | $398.7M |
| Q4 25 | — | $355.7M | ||
| Q3 25 | $-239.5M | $364.8M | ||
| Q2 25 | — | $360.9M | ||
| Q1 25 | — | $344.3M | ||
| Q4 24 | — | $358.9M | ||
| Q3 24 | $-242.9M | $394.1M | ||
| Q2 24 | — | $383.0M | ||
| Q1 24 | — | $377.1M |
| Q4 25 | — | $2.3B | ||
| Q3 25 | $327.5M | $2.2B | ||
| Q2 25 | — | $1.9B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $917.6M | ||
| Q2 24 | — | $926.2M | ||
| Q1 24 | — | $917.0M |
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.39× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.46× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.06× |
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 | $175.9M |
| 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 | — | $175.9M | ||
| Q3 25 | $13.8M | $236.0M | ||
| Q2 25 | — | $157.9M | ||
| Q1 25 | — | $51.9M | ||
| Q4 24 | — | $340.7M | ||
| Q3 24 | — | $32.0M | ||
| Q2 24 | — | $36.7M | ||
| Q1 24 | — | $29.8M |
| Q4 25 | — | — | ||
| Q3 25 | $6.5M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 2.42× | 216.53× | ||
| Q2 25 | — | 8.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.23× | ||
| 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% |
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
