The 2025 Form 10-K reported material weaknesses in internal control over financial reporting, including insufficient accounting resources and ineffective user-access controls.
SourceThe genetic testing platform detecting and measuring disease.
Public company, workplace, funding, and market signals
Updated Jul 28, 2026
BillionToOne, Inc. is a precision molecular-diagnostics company founded in 2016 and headquartered in Menlo Park, California. It quantifies biology with proprietary Quantitative Counting Templates (QCTs™) and single-molecule next-generation sequencing (smNGS), serving prenatal genetics and oncology. It became publicly traded on Nasdaq as BLLN in November 2025.
Primary product
The core platform is QCT-powered smNGS. Commercial products are the UNITY prenatal portfolio—especially Unity Complete®/Unity Aneuploidy—and Northstar® liquid biopsies, including Northstar Select® for therapy selection and Northstar Response® for treatment monitoring. Unity Confirm™ launched in May 2026 as a non-invasive fetal-cell confirmation test.
Founded
2016
Headquarters
1035 O’Brien Drive, Menlo Park, CA 94025, United States
Team size
Approximately 600–700+; 713 full-time employees reported at December 31, 2025
Work style
Hybrid
98 jobs at BillionToOne
Industry
Biotechnology Research / Medical Laboratories
Sub-industry
Molecular diagnostics; non-invasive prenatal testing; oncology liquid biopsy; precision medicine
Offices
Business model
Stage
Public company (Nasdaq: BLLN); latest financing was the November 2025 IPO. Before the IPO, the company had raised nearly $400M in private capital.
Total raised
$703M
Latest round
Upsized Initial Public Offering · Nov 2025
Latest amount
$314M
Jun 2024 · Premji Invest
Follow-on equity / additional capital raise
Dec 2022 · Existing Series C investors (including Libertus Capital, Hummingbird Ventures, Baillie Gifford, Adams Street Partners, Neotribe Ventures, Fifty Years, Norwest Venture Partners, Time BioVentures)
Mar 2022 · Adams Street Partners, Hummingbird Ventures
Jun 2021 · Four Rivers Group, Hummingbird Ventures
Mar 2020 · Hummingbird Ventures, Neotribe Ventures
Mar 2019 · Hummingbird Ventures, Neotribe Ventures
Sep 2018 · HHS
Jan 2017 · Y Combinator
Leadership
Co-Founder, Chief Executive Officer, and Board Chair
Co-Founder, Chief Technology Officer, and Board Member
Chief Financial Officer
Chief Product Officer
John Lister
Chief Administrative Officer
Nancy Johnson, MT (ASCP)
Senior Vice President, Sales and Commercial Operations
Senior Vice President, Laboratory Operations
Tom Lynch, JD
General Counsel and Board Secretary
Haywood Brown, MD
Chief Medical Officer, Prenatal
Ethan Dmitrovsky, MD
Chief Medical Officer, Oncology
Allen Chen, MD, MBA, FASTRO, FACHE
Vice President, Medical Affairs and Clinical Development, Oncology
Jean Hayden
Vice President, Business Operations; Chief of Staff to the CEO
Jennifer Hoskovec, MS, CGC
Vice President, Medical Affairs, Prenatal
Lisa Edelmann, PhD
Vice President, Laboratory Operations
Gemma English
Vice President, Reimbursement
Investors
The company emphasizes patient-centered impact, scientific ambition, creativity, rational decision-making, kindness, curiosity, collaboration, internal motivation, and open communication. Careers materials describe weekly town halls, interdisciplinary teams, autonomy, small teams, rapid iteration, and work spanning laboratories, software, computational biology, and clinical operations.
Work style
Hybrid
Visa sponsorship
Limited
Compensation
Public engineering postings show senior software-engineering base ranges around $187K–$211K, with total compensation around $297K–$307K including equity/variable pay; postings also advertise bonuses, equity, healthcare, parental leave, and a 4% 401(k) match. Historical DOL/LCA data indicates H-1B sponsorship activity, but sponsorship is role- and candidate-specific rather than guaranteed.
Benefits
Pricing
No public list pricing located. Revenue is primarily generated from per-test laboratory fees and reimbursement through providers, insurers, Medicare, and patient out-of-pocket channels; pricing varies by assay, payer, coverage, and patient circumstances.
Differentiators
Technology
Customers
Competitors
Estimated revenue
$300M–$400M annual revenue range; reported FY2025 revenue was $305.1M and management's FY2026 guidance was raised to $450M–$465M in May 2026.
Estimated monthly visits
28.1K
Traffic estimate as of Aug 2026
The 2025 Form 10-K reported material weaknesses in internal control over financial reporting, including insufficient accounting resources and ineffective user-access controls.
SourceThe company entered a debt facility of up to $140M with Oberland Capital; $57.2M was outstanding at December 31, 2025. This is financing exposure, not a shutdown or distress event.
SourceBillionToOne / PRNewswire · Jul 2026
Dmitrovsky was appointed CMO, Oncology, to lead medical strategy for Northstar and the company's entry into minimal-residual-disease testing.
BillionToOne / company news listing · Jun 2026
The company reported peer-reviewed study results positioning Northstar Response as a stronger predictor of immunotherapy outcomes than standard imaging; the company listing links the article but the specific article URL was not exposed in the retrieved page.
BillionToOne Investor Relations / GlobeNewswire · May 2026
Q1 revenue was $108.4M, up 84% year over year; 188,000 tests were delivered, and FY2026 revenue guidance was raised to $450M–$465M.
BillionToOne / PRNewswire · May 2026
Launch of a non-invasive fetal-cell confirmation assay for high-risk prenatal screens; the company reported 100% concordance in an initial 16-sample validation and began a larger prospective study.
BillionToOne Investor Relations / GlobeNewswire · Mar 2026
FY2025 revenue reached $305.1M, double 2024 revenue, and the company reported positive operating income of $16.0M for 2025.