BillionToOne (BLLN) Q2 2026 earnings summary

Executive summary

• Achieved Q2 2026 revenue of $109.4 million, up 64% year-over-year, driven by strong growth in prenatal and oncology testing, with 196,000 tests delivered (35% increase) and robust adoption of new products.

• Maintained gross margin above 70% and delivered positive GAAP operating income ($5.5 million, 5% margin), net income of $8.1 million ($0.15 per diluted share), and positive cash flow.

• Expanded product portfolio with launches such as Unity Confirm and expanded Unity Fetal Risk Screen (130 genes), and published key clinical data supporting future reimbursement.

• Ended Q2 with a strong cash position of $548.6–$549 million, supporting ongoing investments and growth.

• Announced new lab expansions and achieved record-speed Epic Aura EMR integration to facilitate health system adoption.

Financial highlights

• Q2 2026 revenue: $109.4 million (up from $66.6 million in Q2 2025, 64% growth); prenatal revenue: $94.2–$95.8 million (55–56% growth); oncology revenue: $13.7 million (176% growth).

• Gross profit: $77.1 million; gross margin: 70–70.5% (up from 65–65.3% a year ago).

• Operating income: $5.5 million (5% margin); Adjusted EBITDA: $16.1 million (15% margin).

• Net income: $8.1 million, or $0.15 per diluted share, versus a net loss of $0.2 million in Q2 2025.

• Cash and equivalents: $548.6–$549 million at quarter end; free cash flow: $5.1 million in Q2 2026.

Outlook and guidance

• Reiterated 2026 revenue guidance of $450–$465 million, representing 48–52% growth over 2025, and projected ~85% CAGR from 2023 to 2026.

• Expect to maintain profitability and positive cash flow despite continued investments in R&D and infrastructure.

• Anticipate meaningful impact from new product launches, expanded sales force, and EMR integrations in the next 2–4 quarters.

• Management expects further operational efficiencies and margin improvements through automation and AI integration.