Revenue Growth - Total revenue for Q3 2025 was $83.5 million, a 117% increase from $38.4 million in Q3 2024[5] - Prenatal clinical testing revenue reached $74.1 million, up 102% year-over-year, while oncology clinical testing revenue surged to $8.7 million, a 664% increase compared to $1.1 million in the same period last year[5] - The company expects full-year 2025 revenue to be between $293 million and $299 million, representing a growth of 92% to 96% compared to 2024[12] - Fourth quarter 2025 revenue is projected to be between $84 million and $90 million, indicating an 86% to 100% growth compared to Q4 2024[12] Profitability - Gross margin improved to 70% in Q3 2025, up from 53% in Q3 2024, reflecting a 17 percentage-point increase year-over-year[5] - Operating income was $9.6 million in Q3 2025, a significant turnaround from an operating loss of $12.6 million in Q3 2024[10] - Net income available to common shareholders for Q3 2025 was $1.5 million, or $0.10 per diluted share, compared to a net loss of $14.9 million, or ($1.47) per diluted share, in Q3 2024[10] - Positive cash flow of $6.2 million was reported in Q3 2025[5] Asset and Liability Management - Total assets increased to $327,521 million as of September 30, 2025, up from $302,059 million on December 31, 2024, representing an increase of 8.5%[19] - Total current assets rose to $251,716 million, compared to $227,817 million at the end of 2024, marking an increase of 10.5%[19] - Total liabilities increased to $147,625 million from $134,306 million, reflecting a rise of 9.9%[19] - Cash and cash equivalents grew to $195,152 million, up from $191,477 million, indicating a 3.5% increase[19] - Accounts receivable surged to $34,646 million, a significant increase from $24,709 million, representing a growth of 40.2%[19] - Inventories increased to $17,389 million, compared to $8,733 million, showing a substantial rise of 99.0%[19] - Long-term debt rose to $54,986 million, up from $51,481 million, which is an increase of 10.0%[19] Stockholder Equity - Total stockholders' deficit improved to $(239,513) million from $(251,656) million, indicating a reduction of 4.8%[19] - Additional paid-in capital increased to $41,211 million from $30,545 million, reflecting a growth of 35.0%[19] - Accumulated deficit slightly improved to $(280,724) million from $(282,201) million, showing a minor reduction of 0.5%[19] Testing Volume - Total tests accessioned in Q3 2025 were 162,900, a 51% increase from 107,900 tests in Q3 2024[7] IPO and Funding - The company raised gross proceeds of $314.0 million from its initial public offering[11]
BillionToOne(BLLN) - 2025 Q3 - Quarterly Results