Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 501

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 2
Chunk 501
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 achieved in 2023, (ii) various patient enrollment milestones, and (iii) subsequent full trial completion. Our revenue derived from this agreement has not been material to our results of operations.

For the three and nine months ended September 30, 2025, the Company recorded revenue of $3.7 million (or 4% of total revenues) and $8.7 million (or 4% of total revenues), respectively, as a result of changes in estimate resulting from higher than expected cash collections, due to higher than expected reimbursement rates and lower than expected disallowed claims, and the corresponding impact on our average selling price for tests delivered in prior periods.  For the three and nine months ended September 30, 2024, the Company recorded revenue of $1.4 million (or 4% of total revenues) and $10.2 million (or 9% of total revenues), respectively, as a result of changes in estimate resulting from higher than expected cash collections, due to higher than expected reimbursement rates and lower than expected disallowed claims, and the corresponding impact on average selling price for tests delivered in prior periods. 

Cost of revenue

Our cost of revenue consists primarily of expenses related to materials and consumables, test kits, personnel-related expenses such as salaries, stock-based compensation and related benefits for its operations and 

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support personnel, shipping costs, overhead allocations, depreciation expense, facilities-related expenses and other services used in connection delivering the Company’s services.

Gross profit and gross margin

Gross profit represents revenue less cost of revenue. Gross margin is gross profit expressed as a percentage of revenue. Our gross profit has been, and may in the future be, influenced by several factors, including test volumes and prices paid for our tests, changes in materials and consumables costs, laboratory processing costs, personnel costs, shipping, and logistics costs.

Operating expenses

Research and development expenses

Research and development expenses include costs incurred to develop our technology, clinical samples and conduct clinical studies to develop and support our products. These costs consist primarily of personnel-related expenses such as salaries and related benefits for our product development employees. Research and development expenses also include non-personnel costs such as materials and consumables used for research, clinical third-party services and consulting expenses, and an allocation of our general overhead expenses. These costs are expensed in the period as incurred.

We believe that continued investment in our products is important to our future growth and, as a result, we expect our research and development costs to increase in