BillionToOne, Inc.

AI-generated fair value estimate for this company.

Method: Revenue-multiple approach: 13x applied to FY2026 guided revenue midpoint of $457.5M (guidance $450-465M, ~50% YoY growth off FY2025's $305.1M; TTM revenue $397.4M, +90.1% YoY) benchmarked against molecular-diagnostics comps (Natera ~market cap $59.35B, high-growth), yielding equity value ~$5.95B over 47.19M shares outstanding, supported by $548.6M cash vs $91.4M debt (net cash ~$457M) and >70% gross margin with newly achieved GAAP profitability ($33.2M TTM net income, EPS $0.77).

Reasoning: Revenue multiple chosen over DCF because BLLN only recently turned profitable and revenue growth (50-90% YoY) is still decelerating unpredictably across a shifting prenatal/oncology mix, making long-run FCF and terminal-growth assumptions too speculative; the 13x multiple sits below top-tier comp Natera but above lower-margin peers, reflecting BLLN's superior (>70%) gross margin and shorter profitability track record.