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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
NOODLES & Co is the larger business by last-quarter revenue ($122.1M vs $83.5M, roughly 1.5× BillionToOne, Inc.). BillionToOne, Inc. runs the higher net margin — 6.8% vs -7.5%, a 14.3% gap on every dollar of revenue. On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs -4.1%). BillionToOne, Inc. produced more free cash flow last quarter ($6.5M vs $-2.8M).
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.
Noodles & Company is an American fast-casual restaurant that offers international and American noodle dishes in addition to soups and salads. Noodles & Company was founded in 1995 by Aaron Kennedy and is headquartered in Broomfield, Colorado. The company went public in 2013 and recorded a $457 million revenue in 2017. In mid-2022, there were 458 Noodles & Company locations across 31 states.
BLLN vs NDLS — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $122.1M |
| Net Profit | $5.7M | $-9.2M |
| Gross Margin | 69.9% | — |
| Operating Margin | 11.5% | -5.2% |
| Net Margin | 6.8% | -7.5% |
| Revenue YoY | 117.4% | -4.1% |
| Net Profit YoY | 138.3% | 32.8% |
| EPS (diluted) | $0.10 | $-0.20 |
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 | $122.1M | ||
| Q2 25 | — | $123.8M | ||
| Q4 24 | — | $122.8M | ||
| Q3 24 | $38.4M | $127.4M | ||
| Q2 24 | — | $121.4M | ||
| Q1 24 | — | $124.3M | ||
| Q4 23 | — | $127.9M | ||
| Q3 23 | — | $125.2M |
| Q3 25 | $5.7M | $-9.2M | ||
| Q2 25 | — | $-9.1M | ||
| Q4 24 | — | $-6.8M | ||
| Q3 24 | $-14.9M | $-13.6M | ||
| Q2 24 | — | $-6.1M | ||
| Q1 24 | — | $-6.1M | ||
| Q4 23 | — | $700.0K | ||
| Q3 23 | — | $-1.3M |
| Q3 25 | 69.9% | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 52.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
| Q3 25 | 11.5% | -5.2% | ||
| Q2 25 | — | -5.2% | ||
| Q4 24 | — | -3.9% | ||
| Q3 24 | -32.9% | -9.0% | ||
| Q2 24 | — | -3.4% | ||
| Q1 24 | — | -3.7% | ||
| Q4 23 | — | 1.6% | ||
| Q3 23 | — | -0.2% |
| Q3 25 | 6.8% | -7.5% | ||
| Q2 25 | — | -7.3% | ||
| Q4 24 | — | -5.5% | ||
| Q3 24 | -38.8% | -10.7% | ||
| Q2 24 | — | -5.1% | ||
| Q1 24 | — | -4.9% | ||
| Q4 23 | — | 0.5% | ||
| Q3 23 | — | -1.0% |
| Q3 25 | $0.10 | $-0.20 | ||
| Q2 25 | — | $-0.20 | ||
| Q4 24 | — | $-0.15 | ||
| Q3 24 | $-1.47 | $-0.30 | ||
| Q2 24 | — | $-0.14 | ||
| Q1 24 | — | $-1.64 | ||
| Q4 23 | — | $0.02 | ||
| Q3 23 | — | $-0.03 |
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 | $4.7M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $-38.9M |
| Total Assets | $327.5M | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $195.2M | $4.7M | ||
| Q2 25 | — | $1.4M | ||
| Q4 24 | — | $3.3M | ||
| Q3 24 | — | $1.8M | ||
| Q2 24 | — | $1.3M | ||
| Q1 24 | — | $3.0M | ||
| Q4 23 | — | $2.5M | ||
| Q3 23 | — | $3.1M |
| Q3 25 | $55.0M | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
| Q3 25 | $-239.5M | $-38.9M | ||
| Q2 25 | — | $-13.9M | ||
| Q4 24 | — | $3.7M | ||
| Q3 24 | $-242.9M | $9.6M | ||
| Q2 24 | — | $21.9M | ||
| Q1 24 | — | $27.2M | ||
| Q4 23 | — | $32.5M | ||
| Q3 23 | — | $36.1M |
| Q3 25 | $327.5M | $280.6M | ||
| Q2 25 | — | $319.4M | ||
| Q4 24 | — | $340.5M | ||
| Q3 24 | — | $346.3M | ||
| Q2 24 | — | $360.4M | ||
| Q1 24 | — | $368.1M | ||
| Q4 23 | — | $368.8M | ||
| Q3 23 | — | $357.6M |
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 | $4.3M |
| Free Cash FlowOCF − Capex | $6.5M | $-2.8M |
| FCF MarginFCF / Revenue | 7.7% | -2.3% |
| Capex IntensityCapex / Revenue | 8.8% | 5.8% |
| Cash ConversionOCF / Net Profit | 2.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $13.8M | $4.3M | ||
| Q2 25 | — | $4.0M | ||
| Q4 24 | — | $5.8M | ||
| Q3 24 | — | $4.7M | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | — | $164.0K | ||
| Q4 23 | — | $16.9M | ||
| Q3 23 | — | $3.2M |
| Q3 25 | $6.5M | $-2.8M | ||
| Q2 25 | — | $1.1M | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | — | $-4.5M | ||
| Q2 24 | — | $-1.6M | ||
| Q1 24 | — | $-15.2M | ||
| Q4 23 | — | $4.1M | ||
| Q3 23 | — | $-10.3M |
| Q3 25 | 7.7% | -2.3% | ||
| Q2 25 | — | 0.9% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | -3.5% | ||
| Q2 24 | — | -1.4% | ||
| Q1 24 | — | -12.2% | ||
| Q4 23 | — | 3.2% | ||
| Q3 23 | — | -8.2% |
| Q3 25 | 8.8% | 5.8% | ||
| Q2 25 | — | 2.4% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | 12.3% | ||
| Q4 23 | — | 10.0% | ||
| Q3 23 | — | 10.8% |
| Q3 25 | 2.42× | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | 24.21× | ||
| Q3 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% |
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
