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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and HA Sustainable Infrastructure Capital, Inc. (HASI). Click either name above to swap in a different company.
HA Sustainable Infrastructure Capital, Inc. is the larger business by last-quarter revenue ($114.8M vs $83.5M, roughly 1.4× BillionToOne, Inc.). BillionToOne, Inc. runs the higher net margin — 6.8% vs -46.8%, a 53.7% gap on every dollar of revenue. On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs 13.3%).
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.
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
BLLN vs HASI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $114.8M |
| Net Profit | $5.7M | $-53.8M |
| Gross Margin | 69.9% | — |
| Operating Margin | 11.5% | -57.4% |
| Net Margin | 6.8% | -46.8% |
| Revenue YoY | 117.4% | 13.3% |
| Net Profit YoY | 138.3% | -176.7% |
| EPS (diluted) | $0.10 | $-0.38 |
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 | — | $114.8M | ||
| Q3 25 | $83.5M | $103.1M | ||
| Q2 25 | — | $85.7M | ||
| Q1 25 | — | $96.9M | ||
| Q4 24 | — | $101.3M | ||
| Q3 24 | $38.4M | $82.0M | ||
| Q2 24 | — | $94.5M | ||
| Q1 24 | — | $105.8M |
| Q4 25 | — | $-53.8M | ||
| Q3 25 | $5.7M | $83.3M | ||
| Q2 25 | — | $98.4M | ||
| Q1 25 | — | $56.6M | ||
| Q4 24 | — | $70.1M | ||
| Q3 24 | $-14.9M | $-19.6M | ||
| Q2 24 | — | $26.5M | ||
| Q1 24 | — | $123.0M |
| Q4 25 | — | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 52.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -57.4% | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 84.7% | ||
| Q4 24 | — | 90.9% | ||
| Q3 24 | -32.9% | -32.1% | ||
| Q2 24 | — | 39.5% | ||
| Q1 24 | — | — |
| Q4 25 | — | -46.8% | ||
| Q3 25 | 6.8% | 80.8% | ||
| Q2 25 | — | 114.9% | ||
| Q1 25 | — | 58.4% | ||
| Q4 24 | — | 69.2% | ||
| Q3 24 | -38.8% | -23.9% | ||
| Q2 24 | — | 28.1% | ||
| Q1 24 | — | 116.3% |
| Q4 25 | — | $-0.38 | ||
| Q3 25 | $0.10 | $0.61 | ||
| Q2 25 | — | $0.74 | ||
| Q1 25 | — | $0.44 | ||
| Q4 24 | — | $0.58 | ||
| Q3 24 | $-1.47 | $-0.17 | ||
| Q2 24 | — | $0.23 | ||
| Q1 24 | — | $0.98 |
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 | $110.2M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $2.7B |
| Total Assets | $327.5M | $8.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $110.2M | ||
| Q3 25 | $195.2M | $301.8M | ||
| Q2 25 | — | $86.5M | ||
| Q1 25 | — | $67.4M | ||
| Q4 24 | — | $129.8M | ||
| Q3 24 | — | $44.1M | ||
| Q2 24 | — | $145.7M | ||
| Q1 24 | — | $61.4M |
| Q4 25 | — | — | ||
| Q3 25 | $55.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $2.7B | ||
| Q3 25 | $-239.5M | $2.7B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | $-242.9M | $2.3B | ||
| Q2 24 | — | $2.3B | ||
| Q1 24 | — | $2.3B |
| Q4 25 | — | $8.2B | ||
| Q3 25 | $327.5M | $8.2B | ||
| Q2 25 | — | $7.6B | ||
| Q1 25 | — | $7.5B | ||
| Q4 24 | — | $7.1B | ||
| Q3 24 | — | $6.7B | ||
| Q2 24 | — | $6.7B | ||
| Q1 24 | — | $6.7B |
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 | $167.3M |
| 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 | — | $167.3M | ||
| Q3 25 | $13.8M | $-121.8M | ||
| Q2 25 | — | $79.6M | ||
| Q1 25 | — | $-37.1M | ||
| Q4 24 | — | $5.9M | ||
| Q3 24 | — | $21.9M | ||
| Q2 24 | — | $-24.8M | ||
| Q1 24 | — | $20.9M |
| 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× | -1.46× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | -0.66× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.94× | ||
| Q1 24 | — | 0.17× |
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% |
HASI
Segment breakdown not available.
