Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 133

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 133
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 | $ |   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. 101

Cost of revenue

|                 |     | Year ended            
 December 31,          |   2023 |     |   |   2024 |     |   | $ Change |     |     | % Change |
|:----------------|:----|:----------------------|-------:|:----|:--|-------:|:----|:--|---------:|:----|:----|:---------|
|                 |     | -dollars in thousands |        |     |   |        |     |   |          |     |     |          |
| Cost of revenue |     | $                     | 54,421 |     | $ | 71,667 |     | $ |   17,246 |     |     | 32%      |

Cost of revenue increased $17.2 million, or 32%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. The increase was primarily due to an increase of $9.2 million in expenses associated with testing samples and supplies used in processing tests, phlebotomy, and related shipping costs, driven by a higher volume of tests processed; an increase of $8.0 million in labor, overhead, equipment depreciation and other related costs driven by headcount growth for the year ended December 31, 2023 to the year ended December 31, 2024 to support the higher test volumes; and an increase in product support. Gross profit and gross margin

|              |     | Year ended            
 December 31,          |   2023 |     |   |   2024 |     |   | $ Change |     |     | % Change |
|:-------------|:----|:----------------------|-------:|:----|:--|-------: