Company: BLLN
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0000950123-25-007483
Chunk: 153

Company: BillionToOne, Inc.
Filing Date: 2025-08-11
Form: DRS/A
Chunk 153
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 loan         |     |              |       — |   |     |   |   3,137 |   |
| (Increase)/decrease in fair value of convertible notes |     |              |  12,921 |   |     |   |     835 |   |
| Adjusted EBITDA                                        |     | $            | (59,209 | ) |     | $ | (32,889 | ) |

Non-GAAPloss from operations We define non-GAAPoperating loss as operating loss presented in accordance with GAAP, adjusted to exclude stock-based compensation expenses. 108

A reconciliation of loss from operations, the most directly comparable GAAP financial measure, to non-GAAPloss from operations is presented below (in thousands):

|                                  |     | Year ended   
 December 31, |    2023 |   |     |   |    2024 |   |
|:---------------------------------|:----|:-------------|--------:|:--|:----|:--|--------:|:--|
| Loss from operations             |     | $            | (69,495 | ) |     | $ | (47,146 | ) |
| Stock-based compensation expense |     |              |   4,854 |   |     |   |   8,362 |   |
| Non-GAAP loss from operations    |     | $            | (64,641 | ) |     | $ | (38,784 | ) |

Non-GAAPnet loss We monitor non-GAAPnet loss income for planning and performance measurement purposes. We define non-GAAP netloss as net loss reported on our statements of operations, excluding the impact of stock-based compensation expenses, net gain on extinguishment of debt, change in fair value of the term loan, and change in fair value of convertible notes. We exclude fair value adjustments related to debt, which can fluctuate significantly and do not directly reflect our underlying operations. Our calculation of non-GAAPnet loss does not currently include the tax effects of the stock-based compensation expense adjustment because such tax effects have not been material to date. A reconciliation of net loss, the most directly comparable GAAP financial measure, to non-GAAPnet loss is presented below (in thousands):

|                                           |     | Years Ended  
 December 31, |    2023 |   |     |   |    2024 |   |
|:------------------------------------------|:----|:-------------|--------:|:--|:----