Q4 GAAP operating income: $10.3M (11% margin) vs. a loss of $11.7M in Q4 2024. Full-year 2025 GAAP operating income: $16.0M (5% margin) vs. a loss of $47.1M in 2024 (CFO, CEO).
Diluted shares outstanding (modeling): 52M–54M over next several quarters (CFO).
Mgmt Quotes
(CEO) “For the full year 2025, we achieved 100% year-over-year growth with an adjusted EBITDA margin of 13%, a positive GAAP operating margin and positive cash flow. Delivering an organic rule of 100 is rare for any public company.”
(CEO) “Our long-term goal remains the same: to build a category-defining business and enter the S&P 500.”
(CEO) “We are raising our 2026 total revenue outlook to a range of $430 million to $445 million, representing growth of 41% to 46% compared to full year 2025.”
(CEO) “I am extremely excited to share that we have just signed a contract to be in-network with UnitedHealthcare, the largest commercial health insurer in the United States. This is a landmark moment for BillionToOne.”
(CFO) “We are well capitalized with a very healthy balance sheet. We ended the year with approximately $496 million in cash and equivalents and just $50 million in term debt, positioning us for strong growth moving forward.”