Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 151

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 151
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 used to guide therapy selection and has been shown to detect over 50% more actionable solid tumor mutations
than conventional liquid biopsies. Based on our knowledge of all widely available tests, Northstar Response is the only methylation-based assay that quantifies the amount of cancer (tumor burden) at the single molecule level without requiring a
tissue biopsy, enabling real-time monitoring of patient response to therapy with unprecedented precision. Our Northstar tests give physicians extraordinary visibility into cancer profile and treatment response, enabling more informed and earlier
treatment decisions that can fundamentally alter patient outcomes.

Our business momentum is evidenced by our rapidly scaling commercial success and improving
operational efficiency. To date, we have processed more than one million smNGS-based tests, including tests in the 12 months ended June 30, 2025. For the year ended December 31, 2024, we generated revenue of
$152.6 million, representing 113% year-over-year growth, with a gross margin of 53% and net loss of $41.6 million. Our business model has demonstrated improving operational leverage, which we believe will enable us to reach, on a non-GAAP income from operations basis, positive operating income after adjusting for stock based compensation expense for the six months ended June 30, 2025. During this period, we generated revenue of
, with a gross margin of and a net income of , representing year-over-year revenue growth. This translates to a net income improvement
of approximately , from

115

a net loss of in the six months ended June 30, 2024 to a net income of in the same period in 2025.

Backed by our commitment to continued innovation and high-quality execution, we aim to lead the next wave of advancements in precision diagnostics, delivering profound
benefits to patients, providers, and the broader healthcare system.

AtBillionToOne, we are building a different type of molecular diagnostics company, backed by our four pillars of
differentiation described below. We believe these competitive advantages are difficult for others to replicate and uniquely position us to redefine the industry.

Our breakthrough technology platform.Our revolutionary platform achieves absolute quantification at the single molecule level, enabling us to:
(i) accurately quantify genetic targets by eliminating biases introduced from next-generation sequencing (NGS); (ii) precisely measure and analyze intermediate biochemical reactions to optimize the performance of our assays; and
(iii) reduce sequencing costs by obtaining a higher quality signal at each genomic location analyzed. Moreover, we believe