BillionToOne Q2 revenue jumps 64%, swings to profit, but material weaknesses persist
BLLN sits 83% above its 52-week low of $61.96.
Summary
BillionToOne posted Q2 2026 revenue of $109.4M, a 64% year-over-year increase, and swung to net income of $8.1M from a loss. Gross margin improved to 70%. Material weaknesses in internal controls remain unremediated, and a patent lawsuit from Illumina was disclosed.
Key Events · Earnings and Guidance · BLLN
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Revenue Surges 64%
Driven by a 35% increase in test volume and a 21% rise in average selling price, Q2 2026 revenue reached $109.4M.
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Swings to Profitability
Net income came in at $8.1M, or $0.15 per diluted share, a sharp turnaround from the net loss of $0.2M in Q2 2025.
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Gross Margin Expands
Reflecting higher average selling prices and operational efficiencies, gross margin improved to 70% from 65% a year ago.
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Material Weaknesses Unremediated
As of June 30, 2026, previously reported material weaknesses in internal control over financial reporting remain unremediated.
Analysis · BLLN · Industrial Applications And Services
A standout quarter saw revenue climb 64% to $109.4M and net income reach $8.1M, reversing a loss from the prior year. Gross margins expanded to 70%, underscoring operational leverage. Yet the company still carries unremediated material weaknesses in internal controls, and Illumina launched a patent lawsuit in May. While the balance sheet remains robust with $548.6M in cash, the control deficiencies and litigation present notable risks.
At the time of this filing, BLLN was trading at $113.35 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $6.9B. The 52-week trading range was $61.96 to $150.44. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.