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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and LZ Technology Holdings Ltd (LZMH). Click either name above to swap in a different company.
BillionToOne, Inc. is the larger business by last-quarter revenue ($83.5M vs $57.8M, roughly 1.4× LZ Technology Holdings Ltd). BillionToOne, Inc. runs the higher net margin — 6.8% vs -10.5%, a 17.3% gap on every dollar of revenue. BillionToOne, Inc. produced more free cash flow last quarter ($6.5M vs $-6.8M).
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 LZMH — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $57.8M |
| Net Profit | $5.7M | $-6.0M |
| Gross Margin | 69.9% | 3.0% |
| Operating Margin | 11.5% | -10.1% |
| Net Margin | 6.8% | -10.5% |
| Revenue YoY | 117.4% | — |
| Net Profit YoY | 138.3% | — |
| EPS (diluted) | $0.10 | $-0.04 |
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 | — | ||
| Q2 25 | — | $57.8M | ||
| Q4 24 | $45.1M | — | ||
| Q3 24 | $38.4M | — |
| Q3 25 | $5.7M | — | ||
| Q2 25 | — | $-6.0M | ||
| Q4 24 | $-11.5M | — | ||
| Q3 24 | $-14.9M | — |
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | 3.0% | ||
| Q4 24 | 57.1% | — | ||
| Q3 24 | 52.6% | — |
| Q3 25 | 11.5% | — | ||
| Q2 25 | — | -10.1% | ||
| Q4 24 | 17.0% | — | ||
| Q3 24 | -32.9% | — |
| Q3 25 | 6.8% | — | ||
| Q2 25 | — | -10.5% | ||
| Q4 24 | -25.5% | — | ||
| Q3 24 | -38.8% | — |
| Q3 25 | $0.10 | — | ||
| Q2 25 | — | $-0.04 | ||
| Q4 24 | $-1.13 | — | ||
| 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 | $2.2M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $9.5M |
| Total Assets | $327.5M | $71.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $195.2M | — | ||
| Q2 25 | — | $2.2M | ||
| Q4 24 | $191.5M | — | ||
| Q3 24 | — | — |
| Q3 25 | $55.0M | — | ||
| Q2 25 | — | — | ||
| Q4 24 | $51.5M | — | ||
| Q3 24 | — | — |
| Q3 25 | $-239.5M | — | ||
| Q2 25 | — | $9.5M | ||
| Q4 24 | $-251.7M | — | ||
| Q3 24 | $-242.9M | — |
| Q3 25 | $327.5M | — | ||
| Q2 25 | — | $71.5M | ||
| Q4 24 | $302.1M | — | ||
| 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 | $-6.7M |
| Free Cash FlowOCF − Capex | $6.5M | $-6.8M |
| FCF MarginFCF / Revenue | 7.7% | -11.7% |
| Capex IntensityCapex / Revenue | 8.8% | 0.0% |
| Cash ConversionOCF / Net Profit | 2.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $13.8M | — | ||
| Q2 25 | — | $-6.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — |
| Q3 25 | $6.5M | — | ||
| Q2 25 | — | $-6.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — |
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | -11.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — |
| Q3 25 | 8.8% | — | ||
| Q2 25 | — | 0.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — |
| Q3 25 | 2.42× | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| 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% |
LZMH
Segment breakdown not available.
