BillionToOne's IPO
Listed Nov 6, 2025 at $60 on Nasdaq as BLLN.
Today 86% above its $60 offer price; its first day closed +81.6%.
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What does BillionToOne do?
| Fact | BillionToOne |
|---|---|
| Founded | 2017 |
| Headquarters | Menlo Park, California |
| Employees | 620, as of June 30, 2025 |
| Website | billiontoone.com |
What is the offering?
Each figure names the filing it is from and that filing's date. The market cap is Breakaway's arithmetic from the prospectus's share count.
| Fact | BillionToOne |
|---|---|
| Shares offered | 4,551,100 |
| Offer price | $60 a share |
| Raised at that price | $273 million |
| Underwriters' discount | $19.1 million |
| Net proceeds the company expects | About $248 million |
| Underwriters' option | 682,665 more shares |
| Underwriters | J.P. Morgan, Piper Sandler, Jefferies, William Blair, Stifel, and Wells Fargo, and 1 more |
| Exchange | Nasdaq Global Select Market, as BLLN |
| Shares outstanding after | 44,720,379 |
| Market cap at the offer price | $2.68 billion |
What the filing says about its money
| Fact | BillionToOne |
|---|---|
| Revenue | $153 million, year to December 31, 2024 |
| Net loss | $41.6 million, year to December 31, 2024 |
| Last preferred stock | Series D preferred |
What risks does BillionToOne name first?
- “Our limited operating history and rapid growth make it difficult to evaluate our future prospects and the risks and challenges we may encounter.”
- “We primarily generate revenue from sales of our molecular diagnostic tests and we are highly dependent on them for our success.”
- “If the government and other third-party payors fail to provide coverage and adequate payment for our existing and future tests, our revenue and prospects for profitability will be harmed.”
Every date of BillionToOne's IPO
| What | Day |
|---|---|
| Registration filed | Oct 7, 2025 |
| Exchange registration filed | Nov 3, 2025 |
| Priced | Nov 5, 2025 |
| First trade | Nov 6, 2025 |
| Lock-up ends | May 4, 2026 |
How did its first days trade?
From its daily bars, each close against its $60 offer price.
| Day | Open | Close | From the offer |
|---|---|---|---|
| Nov 6 | $100 | $108.94 | +81.6% |
| Nov 7 | $108.70 | $100.03 | +66.7% |
| Nov 10 | $101.53 | $102.22 | +70.4% |
| Nov 11 | $104.50 | $103.76 | +72.9% |
| Nov 12 | $105.83 | $101.80 | +69.7% |
What is BillionToOne's Quality Score?
The other IPOs expected
| Company | Price |
|---|---|
| $19 to $21 | |
| $15 to $17 | |
| $15 to $17 | |
| $7 | |
| $5 to $7 |
BillionToOne IPO questions
When is BillionToOne's IPO?
Listed Nov 6, 2025 at $60 on Nasdaq as BLLN.
What is BillionToOne's IPO price?
BillionToOne's IPO priced at $60 a share, per its final prospectus of Nov 6, 2025.
How many shares is BillionToOne selling?
4,551,100 shares, and the underwriters may buy 682,665 more, per its final prospectus (424B4).
Who are the underwriters?
J.P. Morgan, Piper Sandler, Jefferies, William Blair, Stifel, Wells Fargo, and BTIG, as the prospectus's cover names them.
When does the lock-up end?
BillionToOne's IPO lock-up ends May 4, 2026. Its final prospectus says: “.”
Does Breakaway rate BillionToOne?
BillionToOne has a Quality Score of 15 today. The score counts the 14 chart checks and the company's filings; a check that needs more history than a new stock has waits for it.
Can Breakaway say where BillionToOne's price will go?
No. Breakaway does not say where a price will go. Every figure here is from the company's SEC filings, linked on each line.
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