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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and INFINITY NATURAL RESOURCES, INC. (INR). Click either name above to swap in a different company.
INFINITY NATURAL RESOURCES, INC. is the larger business by last-quarter revenue ($115.5M vs $83.5M, roughly 1.4× BillionToOne, Inc.). INFINITY NATURAL RESOURCES, INC. runs the higher net margin — 17.3% vs 6.8%, a 10.5% 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.
BLLN vs INR — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $115.5M |
| Net Profit | $5.7M | $20.0M |
| Gross Margin | 69.9% | — |
| Operating Margin | 11.5% | 47.0% |
| Net Margin | 6.8% | 17.3% |
| Revenue YoY | 117.4% | — |
| Net Profit YoY | 138.3% | — |
| EPS (diluted) | $0.10 | $1.33 |
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 | — | $115.5M | ||
| Q3 25 | $83.5M | $78.3M | ||
| Q2 25 | — | $72.5M | ||
| Q1 25 | — | $84.2M | ||
| Q3 24 | $38.4M | — |
| Q4 25 | — | $20.0M | ||
| Q3 25 | $5.7M | $10.4M | ||
| Q2 25 | — | $18.0M | ||
| Q1 25 | — | $-34.6M | ||
| Q3 24 | $-14.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | 52.6% | — |
| Q4 25 | — | 47.0% | ||
| Q3 25 | 11.5% | 30.5% | ||
| Q2 25 | — | 29.9% | ||
| Q1 25 | — | -104.5% | ||
| Q3 24 | -32.9% | — |
| Q4 25 | — | 17.3% | ||
| Q3 25 | 6.8% | 13.3% | ||
| Q2 25 | — | 24.8% | ||
| Q1 25 | — | -41.1% | ||
| Q3 24 | -38.8% | — |
| Q4 25 | — | $1.33 | ||
| Q3 25 | $0.10 | $0.65 | ||
| Q2 25 | — | $1.18 | ||
| Q1 25 | — | $-2.27 | ||
| Q3 24 | $-1.47 | — |
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 | $2.8M |
| Total DebtLower is stronger | $55.0M | $55.0K |
| Stockholders' EquityBook value | $-239.5M | $307.1M |
| Total Assets | $327.5M | $1.2B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.8M | ||
| Q3 25 | $195.2M | $4.6M | ||
| Q2 25 | — | $6.3M | ||
| Q1 25 | — | $4.9M | ||
| Q3 24 | — | — |
| Q4 25 | — | $55.0K | ||
| Q3 25 | $55.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $123.0K | ||
| Q3 24 | — | — |
| Q4 25 | — | $307.1M | ||
| Q3 25 | $-239.5M | $288.6M | ||
| Q2 25 | — | $10.1M | ||
| Q1 25 | — | $-52.2M | ||
| Q3 24 | $-242.9M | — |
| Q4 25 | — | $1.2B | ||
| Q3 25 | $327.5M | $1.1B | ||
| Q2 25 | — | $1.0B | ||
| Q1 25 | — | $953.9M | ||
| Q3 24 | — | — |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — |
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 | $75.1M |
| Free Cash FlowOCF − Capex | $6.5M | — |
| FCF MarginFCF / Revenue | 7.7% | — |
| Capex IntensityCapex / Revenue | 8.8% | — |
| Cash ConversionOCF / Net Profit | 2.42× | 3.75× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $75.1M | ||
| Q3 25 | $13.8M | $42.1M | ||
| Q2 25 | — | $70.4M | ||
| Q1 25 | — | $74.2M | ||
| Q3 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | $6.5M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | 8.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — |
| Q4 25 | — | 3.75× | ||
| Q3 25 | 2.42× | 4.04× | ||
| Q2 25 | — | 3.91× | ||
| Q1 25 | — | — | ||
| Q3 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% |
INR
| Oil Reserves | $54.0M | 47% |
| Natural Gas Reserves | $46.8M | 41% |
| Natural Gas Liquids Reserves | $14.7M | 13% |
