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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and HEALTHSTREAM INC (HSTM). Click either name above to swap in a different company.
BillionToOne, Inc. is the larger business by last-quarter revenue ($83.5M vs $79.7M, roughly 1.0× HEALTHSTREAM INC). On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs 7.4%). HEALTHSTREAM INC produced more free cash flow last quarter ($13.0M 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.
HealthStream Inc is a leading U.S.-based provider of workforce development, compliance, and training solutions tailored for the healthcare industry. It offers cloud-based platforms covering clinical skill training, talent management, patient safety education, and regulatory adherence tools, serving over 4,000 healthcare organizations including hospitals, clinics, and long-term care facilities nationwide.
BLLN vs HSTM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $79.7M |
| Net Profit | $5.7M | — |
| Gross Margin | 69.9% | — |
| Operating Margin | 11.5% | 3.0% |
| Net Margin | 6.8% | — |
| Revenue YoY | 117.4% | 7.4% |
| Net Profit YoY | 138.3% | — |
| EPS (diluted) | $0.10 | $0.09 |
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 | — | $79.7M | ||
| Q3 25 | $83.5M | $76.5M | ||
| Q2 25 | — | $74.4M | ||
| Q1 25 | — | $73.5M | ||
| Q4 24 | — | $74.2M | ||
| Q3 24 | $38.4M | $73.1M | ||
| Q2 24 | — | $71.6M | ||
| Q1 24 | — | $72.8M |
| Q4 25 | — | — | ||
| Q3 25 | $5.7M | $6.1M | ||
| Q2 25 | — | $5.4M | ||
| Q1 25 | — | $4.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-14.9M | $5.7M | ||
| Q2 24 | — | $4.2M | ||
| Q1 24 | — | $5.2M |
| Q4 25 | — | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 52.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 3.0% | ||
| Q3 25 | 11.5% | 9.9% | ||
| Q2 25 | — | 7.9% | ||
| Q1 25 | — | 6.0% | ||
| Q4 24 | — | 6.3% | ||
| Q3 24 | -32.9% | 8.9% | ||
| Q2 24 | — | 6.2% | ||
| Q1 24 | — | 7.8% |
| Q4 25 | — | — | ||
| Q3 25 | 6.8% | 8.0% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | -38.8% | 7.8% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | — | 7.2% |
| Q4 25 | — | $0.09 | ||
| Q3 25 | $0.10 | $0.20 | ||
| Q2 25 | — | $0.18 | ||
| Q1 25 | — | $0.14 | ||
| Q4 24 | — | $0.16 | ||
| Q3 24 | $-1.47 | $0.19 | ||
| Q2 24 | — | $0.14 | ||
| Q1 24 | — | $0.17 |
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 | $36.2M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $354.0M |
| Total Assets | $327.5M | $520.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $36.2M | ||
| Q3 25 | $195.2M | $53.5M | ||
| Q2 25 | — | $52.1M | ||
| Q1 25 | — | $77.3M | ||
| Q4 24 | — | $59.5M | ||
| Q3 24 | — | $57.5M | ||
| Q2 24 | — | $46.1M | ||
| Q1 24 | — | $52.4M |
| Q4 25 | — | — | ||
| Q3 25 | $55.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $354.0M | ||
| Q3 25 | $-239.5M | $349.2M | ||
| Q2 25 | — | $350.6M | ||
| Q1 25 | — | $362.8M | ||
| Q4 24 | — | $359.4M | ||
| Q3 24 | $-242.9M | $355.5M | ||
| Q2 24 | — | $349.2M | ||
| Q1 24 | — | $344.9M |
| Q4 25 | — | $520.4M | ||
| Q3 25 | $327.5M | $499.9M | ||
| Q2 25 | — | $500.1M | ||
| Q1 25 | — | $524.0M | ||
| Q4 24 | — | $510.8M | ||
| Q3 24 | — | $502.8M | ||
| Q2 24 | — | $499.6M | ||
| Q1 24 | — | $511.6M |
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 | $13.2M |
| Free Cash FlowOCF − Capex | $6.5M | $13.0M |
| FCF MarginFCF / Revenue | 7.7% | 16.3% |
| Capex IntensityCapex / Revenue | 8.8% | 0.3% |
| Cash ConversionOCF / Net Profit | 2.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $59.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $13.2M | ||
| Q3 25 | $13.8M | $18.0M | ||
| Q2 25 | — | $5.0M | ||
| Q1 25 | — | $27.1M | ||
| Q4 24 | — | $11.2M | ||
| Q3 24 | — | $19.1M | ||
| Q2 24 | — | $6.5M | ||
| Q1 24 | — | $20.9M |
| Q4 25 | — | $13.0M | ||
| Q3 25 | $6.5M | $17.9M | ||
| Q2 25 | — | $2.7M | ||
| Q1 25 | — | $26.0M | ||
| Q4 24 | — | $11.0M | ||
| Q3 24 | — | $18.8M | ||
| Q2 24 | — | $6.3M | ||
| Q1 24 | — | $20.2M |
| Q4 25 | — | 16.3% | ||
| Q3 25 | 7.7% | 23.4% | ||
| Q2 25 | — | 3.6% | ||
| Q1 25 | — | 35.4% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | — | 25.8% | ||
| Q2 24 | — | 8.8% | ||
| Q1 24 | — | 27.8% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | 8.8% | 0.1% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 1.4% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | 2.42× | 2.96× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 6.25× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.34× | ||
| Q2 24 | — | 1.55× | ||
| Q1 24 | — | 4.01× |
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% |
HSTM
| Subscription Services | $77.0M | 97% |
| Professional Services | $2.7M | 3% |
