Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 153

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 153
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 to an increase of $5.4 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; and an increase of $4.6 million in labor and consulting related expenses, including stock-based compensation. Increase in costs during the six months ended June 30, 2025 compared to the six months ended June 30, 2024 are related to higher test volumes and an increase in product support. Gross profit and gross margin

|              |     | Six months ended       
 June 30,               
 2024                   
 (dollars in thousands) |        |     | 2025 |        |     | $ Change |        |     | % Change |      |
|:-------------|:----|:-----------------------|-------:|:----|:-----|-------:|:----|:---------|-------:|:----|:---------|:-----|
| Gross profit |     | $                      | 34,981 |     | $    | 81,438 |     | $        | 46,457 |     |          | 133% |
| Gross margin |     |                        |    51% |     |      |    65% |     |          |        |     |          |      |

Gross profit increased $46.5 million, or 133%, for the six months ended June 30, 2025 compared to the six months ended June 30, 2024. The increase was primarily due to an increase in tests processed and a higher ASP in conjunction with a lower cost per test as we continued to actively reduce variable expenses and increase efficiency from our fixed costs. Gross margin increased from 51% for the six months ended June 30, 2024 to 65% for the six months ended June 30, 2025 for the reasons described above. 104

The increase in our overall ASP contributed to approximately 72% of the improvement of our gross margin for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024. Decreases in Overall Cost Per Test contributed to approximately 28% of the improvement in gross margin for the six months ended June 30, 2025. For the six months ended June 30, 2025, approximately 54% of our cost of goods sold consisted of variable costs and the remainder was fixed costs; during the