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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and Lulu's Fashion Lounge Holdings, Inc. (LVLU). Click either name above to swap in a different company.
BillionToOne, Inc. is the larger business by last-quarter revenue ($83.5M vs $66.1M, roughly 1.3× Lulu's Fashion Lounge Holdings, Inc.). BillionToOne, Inc. runs the higher net margin — 6.8% vs -48.2%, a 55.0% gap on every dollar of revenue. On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs -11.8%). BillionToOne, Inc. produced more free cash flow last quarter ($6.5M vs $-2.6M).
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.
Lulu's Fashion Lounge Holdings, Inc. is a direct-to-consumer women's fashion retailer offering affordable, trendy apparel, footwear, and accessories. It primarily serves Gen Z and millennial consumers across North America, operating mainly via its e-commerce platform, with limited pop-up physical locations to boost customer engagement.
BLLN vs LVLU — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2024
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $66.1M |
| Net Profit | $5.7M | $-31.9M |
| Gross Margin | 69.9% | 37.9% |
| Operating Margin | 11.5% | -52.8% |
| Net Margin | 6.8% | -48.2% |
| Revenue YoY | 117.4% | -11.8% |
| Net Profit YoY | 138.3% | -340.9% |
| EPS (diluted) | $0.10 | $-13.46 |
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.
| Q3 25 | $83.5M | — | ||
| Q4 24 | $45.1M | $66.1M | ||
| Q3 24 | $38.4M | $80.5M | ||
| Q2 24 | — | $92.0M | ||
| Q1 24 | — | $77.3M | ||
| Q4 23 | — | $83.1M | ||
| Q3 23 | — | $106.1M | ||
| Q2 23 | — | $91.0M |
| Q3 25 | $5.7M | — | ||
| Q4 24 | $-11.5M | $-31.9M | ||
| Q3 24 | $-14.9M | $-6.9M | ||
| Q2 24 | — | $-10.8M | ||
| Q1 24 | — | $-5.7M | ||
| Q4 23 | — | $-3.9M | ||
| Q3 23 | — | $-2.6M | ||
| Q2 23 | — | $-5.6M |
| Q3 25 | 69.9% | — | ||
| Q4 24 | 57.1% | 37.9% | ||
| Q3 24 | 52.6% | 38.1% | ||
| Q2 24 | — | 45.5% | ||
| Q1 24 | — | 42.3% | ||
| Q4 23 | — | 40.3% | ||
| Q3 23 | — | 44.7% | ||
| Q2 23 | — | 41.7% |
| Q3 25 | 11.5% | — | ||
| Q4 24 | 17.0% | -52.8% | ||
| Q3 24 | -32.9% | -8.5% | ||
| Q2 24 | — | -4.9% | ||
| Q1 24 | — | -8.0% | ||
| Q4 23 | — | -5.9% | ||
| Q3 23 | — | -1.6% | ||
| Q2 23 | — | -6.5% |
| Q3 25 | 6.8% | — | ||
| Q4 24 | -25.5% | -48.2% | ||
| Q3 24 | -38.8% | -8.5% | ||
| Q2 24 | — | -11.7% | ||
| Q1 24 | — | -7.4% | ||
| Q4 23 | — | -4.7% | ||
| Q3 23 | — | -2.4% | ||
| Q2 23 | — | -6.2% |
| Q3 25 | $0.10 | — | ||
| Q4 24 | $-1.13 | $-13.46 | ||
| Q3 24 | $-1.47 | $-2.47 | ||
| Q2 24 | — | $-3.92 | ||
| Q1 24 | — | $-0.15 | ||
| Q4 23 | — | $-0.10 | ||
| Q3 23 | — | $-0.07 | ||
| Q2 23 | — | $-0.14 |
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 | $4.5M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $13.4M |
| Total Assets | $327.5M | $108.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $195.2M | — | ||
| Q4 24 | $191.5M | $4.5M | ||
| Q3 24 | — | $6.3M | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | $5.5M | ||
| Q4 23 | — | $12.9M | ||
| Q3 23 | — | $5.9M | ||
| Q2 23 | — | $7.8M |
| Q3 25 | $55.0M | — | ||
| Q4 24 | $51.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
| Q3 25 | $-239.5M | — | ||
| Q4 24 | $-251.7M | $13.4M | ||
| Q3 24 | $-242.9M | $43.8M | ||
| Q2 24 | — | $48.7M | ||
| Q1 24 | — | $57.7M | ||
| Q4 23 | — | $64.7M | ||
| Q3 23 | — | $64.7M | ||
| Q2 23 | — | $63.8M |
| Q3 25 | $327.5M | — | ||
| Q4 24 | $302.1M | $108.2M | ||
| Q3 24 | — | $153.5M | ||
| Q2 24 | — | $145.3M | ||
| Q1 24 | — | $160.6M | ||
| Q4 23 | — | $167.4M | ||
| Q3 23 | — | $164.7M | ||
| Q2 23 | — | $179.6M |
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 | $-2.5M |
| Free Cash FlowOCF − Capex | $6.5M | $-2.6M |
| FCF MarginFCF / Revenue | 7.7% | -3.9% |
| Capex IntensityCapex / Revenue | 8.8% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.3M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $13.8M | — | ||
| Q4 24 | — | $-2.5M | ||
| Q3 24 | — | $-5.5M | ||
| Q2 24 | — | $3.7M | ||
| Q1 24 | — | $6.9M | ||
| Q4 23 | — | $12.7M | ||
| Q3 23 | — | $4.6M | ||
| Q2 23 | — | $3.7M |
| Q3 25 | $6.5M | — | ||
| Q4 24 | — | $-2.6M | ||
| Q3 24 | — | $-5.9M | ||
| Q2 24 | — | $3.4M | ||
| Q1 24 | — | $6.4M | ||
| Q4 23 | — | $12.1M | ||
| Q3 23 | — | $4.4M | ||
| Q2 23 | — | $3.2M |
| Q3 25 | 7.7% | — | ||
| Q4 24 | — | -3.9% | ||
| Q3 24 | — | -7.3% | ||
| Q2 24 | — | 3.7% | ||
| Q1 24 | — | 8.3% | ||
| Q4 23 | — | 14.5% | ||
| Q3 23 | — | 4.2% | ||
| Q2 23 | — | 3.5% |
| Q3 25 | 8.8% | — | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.7% | ||
| Q4 23 | — | 0.8% | ||
| Q3 23 | — | 0.2% | ||
| Q2 23 | — | 0.6% |
| Q3 25 | 2.42× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
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% |
LVLU
| Single Reportable Segment | $63.0M | 95% |
| Other | $2.4M | 4% |
| Stored Value Cards | $750.0K | 1% |
