Company: BLLN
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0000950123-25-007483
Chunk: 211

Company: BillionToOne, Inc.
Filing Date: 2025-08-11
Form: DRS/A
Chunk 211
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umab pembrolizumab + FOLFOX encorafenib + cetuximab encorafenib + cetuximab Key Insights from Northstar Baseline Started pembrolizumab Profiling Northstar Select BRAF V600E mutation, MSI-high TMS Increase Added FOLFOX TMS Increase Started encorafenib + cetuximab TMS Increase Resumed encorafenib + cetuximab TMS Decrease

Commercialization

We commercialize our UNITY and Northstar tests in the
United States through our direct sales force targeting physicians in the prenatal and oncology markets, respectively. As of December 31, 2024, our clinician-focused sales organization included 137 sales representatives, with 120 in prenatal and
17 in oncology. In comparison, we had a total of 90 sales representatives at the end of 2023, 85 in prenatal and 5 in oncology. We plan to continue to expand our field sales force systematically, as our prenatal sales force is less than one-third the size of our largest competitor and our oncology sales force is very small relative to many other liquid biopsy companies. Our sales representatives in prenatal are engaged in educating OB-GYNs, MFMs, genetic counselors (GCs) and others about the existence, uniqueness and clinical utility of our offerings. Our sales representatives in oncology conduct similar commercial and educational activities
and primarily engage with oncologists. We have supplemented our direct sales team with medical science liaisons (MSLs) who are generally genetic counselors in prenatal and PhDs in oncology, as well as adding other support staff to help onboard
clinics and to manage the physician and patient experiences.

Our sales force achieved an annualized revenue run-rate of
$ million per sales representative in the six months ended June 30, 2025, despite approximately 35% of our territories launching less than 18 months ago. We believe our high sales efficiency is driven by the combination of our
differentiated products and our ability to provide a seamless, end-to-end solution that enhances both the patient and provider experience and significantly reduces
churn. Our cohort analysis indicates that the net test retention, as defined by the total

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number of tests that are received from a cohort of clinics first onboarded in a particular quarter, even after accounting for any account or provider churn, is over 100% after a year for the
majority of quarterly cohorts. Our sales efficiency has also increased over time,