BillionToOne (BLLN) 46th Annual William Blair Growth Stock Conference summary

Key technology and product innovation

• Introduced a patented QCT technology enabling single molecule sensitivity and precision in molecular diagnostics.

• Developed category-defining products in prenatal and oncology, including UNITY and Northstar, with significant differentiation from competitors.

• UNITY enables detection of single-gene recessive conditions without partner DNA, tripling affected pregnancy detection rates over traditional methods.

• Launched first RhD NIPT and fetal antigen NIPT, changing medical guidelines and expanding equitable access.

• UNITY Confirm, launched in Q2, is considered a major innovation in prenatal genetics, addressing critical unmet needs.

Market growth and financial performance

• Achieved exponential revenue growth, surpassing a $400 million annualized run rate and 100% year-over-year revenue growth from 2024 to 2025.

• Q1 saw 84% year-over-year growth, with a 28% increase in ASPs and a 73% gross margin profile.

• Attained GAAP profitability and positive cash flows with only 10% of the accumulated deficits of public competitors.

• Achieved 16% positive GAAP operating and net margins in Q1, with expectations for continued profitability.

• Maintains a culture of fiscal discipline, efficient operations, and AI-driven productivity.

Clinical impact and differentiation

• UNITY products have enabled in utero treatment for cystic fibrosis, leading to improved newborn outcomes and changing treatment paradigms.

• Northstar liquid biopsy tests detect significantly more actionable alterations than competitors, impacting therapy selection and patient outcomes.

• Developed a panel-wide CH filter using machine learning, achieving over 99% accuracy in distinguishing tumor-derived mutations.

• Northstar Response test provides earlier and more accurate therapy response monitoring than scans, with strong predictive value for survival.

• Products have influenced changes in medical guidelines and are driving frontline adoption in large, underserved markets.