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Side-by-side financial comparison of BillionToOne, Inc. (BLLN) and Nutex Health, Inc. (NUTX). Click either name above to swap in a different company.
Nutex Health, Inc. is the larger business by last-quarter revenue ($151.7M vs $83.5M, roughly 1.8× BillionToOne, Inc.). Nutex Health, Inc. runs the higher net margin — 7.8% vs 6.8%, a 1.0% gap on every dollar of revenue. On growth, BillionToOne, Inc. posted the faster year-over-year revenue change (117.4% vs -41.1%). Nutex Health, Inc. produced more free cash flow last quarter ($69.0M 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.
Nutex Health Inc. is an American for-profit health care company and operator of healthcare facilities headquartered in Houston, Texas.
BLLN vs NUTX — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $83.5M | $151.7M |
| Net Profit | $5.7M | $11.8M |
| Gross Margin | 69.9% | 30.4% |
| Operating Margin | 11.5% | 20.4% |
| Net Margin | 6.8% | 7.8% |
| Revenue YoY | 117.4% | -41.1% |
| Net Profit YoY | 138.3% | -80.8% |
| EPS (diluted) | $0.10 | $2.34 |
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 | — | $151.7M | ||
| Q3 25 | $83.5M | $267.8M | ||
| Q2 25 | — | $244.0M | ||
| Q1 25 | — | $211.8M | ||
| Q4 24 | $45.1M | $257.6M | ||
| Q3 24 | $38.4M | $78.8M | ||
| Q2 24 | — | $76.1M | ||
| Q1 24 | — | $67.5M |
| Q4 25 | — | $11.8M | ||
| Q3 25 | $5.7M | $55.4M | ||
| Q2 25 | — | $-17.7M | ||
| Q1 25 | — | $21.2M | ||
| Q4 24 | $-11.5M | $61.6M | ||
| Q3 24 | $-14.9M | $-8.8M | ||
| Q2 24 | — | $-364.0K | ||
| Q1 24 | — | $-364.0K |
| Q4 25 | — | 30.4% | ||
| Q3 25 | 69.9% | 57.8% | ||
| Q2 25 | — | 51.2% | ||
| Q1 25 | — | 55.9% | ||
| Q4 24 | 57.1% | 55.0% | ||
| Q3 24 | 52.6% | 27.8% | ||
| Q2 24 | — | 29.7% | ||
| Q1 24 | — | 15.1% |
| Q4 25 | — | 20.4% | ||
| Q3 25 | 11.5% | 48.7% | ||
| Q2 25 | — | 13.8% | ||
| Q1 25 | — | 38.1% | ||
| Q4 24 | 17.0% | 44.4% | ||
| Q3 24 | -32.9% | 12.3% | ||
| Q2 24 | — | 7.0% | ||
| Q1 24 | — | 2.1% |
| Q4 25 | — | 7.8% | ||
| Q3 25 | 6.8% | 20.7% | ||
| Q2 25 | — | -7.3% | ||
| Q1 25 | — | 10.0% | ||
| Q4 24 | -25.5% | 23.9% | ||
| Q3 24 | -38.8% | -11.2% | ||
| Q2 24 | — | -0.5% | ||
| Q1 24 | — | -0.5% |
| Q4 25 | — | $2.34 | ||
| Q3 25 | $0.10 | $7.76 | ||
| Q2 25 | — | $-2.95 | ||
| Q1 25 | — | $3.33 | ||
| Q4 24 | $-1.13 | $11.56 | ||
| Q3 24 | $-1.47 | $-1.72 | ||
| Q2 24 | — | $-0.07 | ||
| Q1 24 | — | $-0.08 |
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 | $185.6M |
| Total DebtLower is stronger | $55.0M | — |
| Stockholders' EquityBook value | $-239.5M | $329.4M |
| Total Assets | $327.5M | $918.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $185.6M | ||
| Q3 25 | $195.2M | $166.0M | ||
| Q2 25 | — | $96.7M | ||
| Q1 25 | — | $84.7M | ||
| Q4 24 | $191.5M | $40.6M | ||
| Q3 24 | — | $46.9M | ||
| Q2 24 | — | $40.8M | ||
| Q1 24 | — | $30.0M |
| Q4 25 | — | — | ||
| Q3 25 | $55.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $51.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $329.4M | ||
| Q3 25 | $-239.5M | $317.2M | ||
| Q2 25 | — | $235.3M | ||
| Q1 25 | — | $176.9M | ||
| Q4 24 | $-251.7M | $132.4M | ||
| Q3 24 | $-242.9M | $60.4M | ||
| Q2 24 | — | $62.7M | ||
| Q1 24 | — | $63.0M |
| Q4 25 | — | $918.5M | ||
| Q3 25 | $327.5M | $964.5M | ||
| Q2 25 | — | $841.0M | ||
| Q1 25 | — | $761.9M | ||
| Q4 24 | $302.1M | $655.3M | ||
| Q3 24 | — | $438.5M | ||
| Q2 24 | — | $422.4M | ||
| Q1 24 | — | $404.3M |
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 | $70.4M |
| Free Cash FlowOCF − Capex | $6.5M | $69.0M |
| FCF MarginFCF / Revenue | 7.7% | 45.5% |
| Capex IntensityCapex / Revenue | 8.8% | 0.9% |
| Cash ConversionOCF / Net Profit | 2.42× | 5.95× |
| TTM Free Cash FlowTrailing 4 quarters | — | $245.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $70.4M | ||
| Q3 25 | $13.8M | $99.5M | ||
| Q2 25 | — | $27.3M | ||
| Q1 25 | — | $51.0M | ||
| Q4 24 | — | $54.0K | ||
| Q3 24 | — | $6.8M | ||
| Q2 24 | — | $13.3M | ||
| Q1 24 | — | $3.1M |
| Q4 25 | — | $69.0M | ||
| Q3 25 | $6.5M | $99.2M | ||
| Q2 25 | — | $26.5M | ||
| Q1 25 | — | $50.9M | ||
| Q4 24 | — | $-341.0K | ||
| Q3 24 | — | $6.2M | ||
| Q2 24 | — | $12.7M | ||
| Q1 24 | — | $2.3M |
| Q4 25 | — | 45.5% | ||
| Q3 25 | 7.7% | 37.0% | ||
| Q2 25 | — | 10.9% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 16.7% | ||
| Q1 24 | — | 3.4% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | 8.8% | 0.1% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.8% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.1% |
| Q4 25 | — | 5.95× | ||
| Q3 25 | 2.42× | 1.80× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.40× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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% |
NUTX
| Hospital Division | $143.7M | 95% |
| Population Health Management Division | $8.0M | 5% |
