BillionToOne (BLLN) Q2 2026 earnings summary

Executive summary

• Achieved Q2 2026 revenue of $109.4 million, up 64% year-over-year, with strong growth in both prenatal and oncology segments and an annualized revenue run-rate of $438 million.

• Delivered approximately 196,000 tests in Q2 2026, a 35% increase year-over-year, with strong adoption of new prenatal and oncology products.

• Maintained gross margin at or above 70%, with GAAP operating income of $5.5 million, net income of $8.1 million, and adjusted EBITDA margin of 15%.

• Launched Unity Confirm, expanded UNITY Fetal Risk Screen to 130 genes, and announced upcoming launches of Northstar Origin and Northstar Select for oncology.

• Ended Q2 2026 with a robust cash balance of $548.6 million, supporting ongoing investments and growth.

Financial highlights

• Q2 2026 revenue was $109.4 million, up from $66.6 million in Q2 2025; prenatal revenue was $95.8 million (56% YoY), oncology revenue $13.7 million (176% YoY).

• Gross profit was $77.1 million, with gross margin improving to 70.5% from 65.3% a year ago.

• Net income was $8.1 million ($0.15 per diluted share), compared to a net loss of $0.2 million in Q2 2025.

• Adjusted EBITDA for Q2 2026 was $16.1 million, up from $2.9 million in Q2 2025.

• Free cash flow was $5.1 million; cash and equivalents totaled $548.6 million at quarter end.

Outlook and guidance

• Reiterated full-year 2026 revenue guidance of $450–$465 million, representing 48–52% growth over 2025.

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

• Anticipates meaningful impact from new product launches, health system integrations, and operational efficiencies through automation and AI.