Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 52

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 52
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 deficit of $282.2 million. To date, we have financed our operations principally from the sale of preferred stock, convertible
securities and debt and revenue generated from our tests. We have devoted substantially all of our resources to the development and commercialization of our smNGS platform and current products, and to sales and marketing and research and development
activities. In addition, as a public company, we will incur significant legal, accounting and other expenses that we did not incur as a private company.

While we
have been able to achieve gross margins of 24% and 53% for the years ended December 31, 2023 and 2024, respectively, factors including reimbursement rates, insurance coverage policies, supply chain issues or increased personnel costs could
cause our gross margin for existing or new products to decrease. We will need to generate substantial revenue and maintain our gross margin profile to achieve and then sustain profitability, and even if we achieve profitability, we cannot be sure
that we will remain profitable for any period of time. Our failure to achieve and sustain profitability in the future will make it more difficult to finance our business and accomplish our strategic objectives, which would have a material adverse
effect on our business, financial condition and results of operations and cause the market price of our common stock to decline.

37

Our operating results may fluctuate significantly, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide. Our quarterly and annual operating results may fluctuate significantly, which makes it difficult for us to predict our future operating results. These fluctuations may occur due to a variety of factors, many of which are outside of our control, including:

| • |     | the level of demand for any of our products, which may vary significantly; |

| • |     | the timing and cost of, and level of investment in, research, development, regulatory compliance or commercialization 
 activities relating to our products, which may change from time to time;                                              |

| • |     | the introduction of new products or product enhancements by us or others in our industry; |

| • |     | coverage and reimbursement policies with respect to our products and products that compete with our products; |

| • |     | expenditures that we may incur to develop or commercialize additional products and technologies; |

| • |     | changes in governmental regulations including with respect to privacy and data security and CLIA (as defined below), 
 and our compliance therewith;                                                                                        |

|