Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 160

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 160
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 $0.1 million for the six months ended June 30, 2025 and a loss on disposal of subsidiary of $0.1 million that occurred in the first half of 2024 and did not repeat in the first half of 2025. Comparison of years ended December 31, 2023 and 2024 Revenue

|         |     | Year ended            
 December 31,          |   2023 |     |   |    2024 |     |   | $ Change |     |     | % Change |
|:--------|:----|:----------------------|-------:|:----|:--|--------:|:----|:--|---------:|:----|:----|:---------|
|         |     | -dollars in thousands |        |     |   |         |     |   |          |     |     |          |
| Revenue |     | $                     | 71,729 |     | $ | 152,582 |     | $ |   80,853 |     |     | 113%     |

Revenue is comprised of revenue from our sales of our prenatal and oncology tests and our strategic partnership with Johnson & Johnson. Revenue increased $80.9 million, or 113%, for the year ended December 31, 2024 compared to the year ended December 31, 2023, primarily as a result of a 52% increase in the number of tests processed and a 41% increase in our Overall ASP. We derive our revenue primarily from the number of tests processed and results delivered to the ordering physician. All tests processed are accessioned in our laboratories. The increase in the number of tests processed in 2024 was driven by an increase in the number of field sales representatives for our prenatal products, the introduction of our oncology products and growth in the number of our oncology field sales representatives, and increased productivity per field sales representative. The differentiation of our products in the marketplace, as well as strong execution by our sales, sales operations, marketing, and laboratory operations teams also contributed to the increase. The increase in our ASP per test was driven by several factors. We increased the number of contracts we have with payors for our prenatal tests which drove increases in ASP in 2024. In addition, during the second half of 2024 we began to benefit from a new PLA code for our prenatal tests, as when utilized the new PLA code is typically reimbursed at a higher rate than the codes