Company: BLLN
Filing Date: 2025-10-17
Form Type: S-1/A
Source: 0001193125-25-242632
Chunk: 343

Company: BillionToOne, Inc.
Filing Date: 2025-10-17
Form: S-1/A
Chunk 343
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. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the
PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and
perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and
performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used
and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Florham Park, New Jersey

June 20, 2025

We have served as the Company’s
auditor since 2022.

F-2

B ILLIONT OO NE, INC. Balance Sheets (in thousands, except share amounts)

| Assets                                                                                                                                                                                                                             
 Current assets:                                                                                                                                                                                                                    |     | December 31, 
 2023         |          |   |     | 2024 |          |   |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:-------------|---------:|:--|:----|:-----|---------:|:--|
| Cash and cash equivalents                                                                                                                                                                                                          |     | $            |   97,268 |   |     | $    |  191,477 |   |
| Accounts receivable                                                                                                                                                                                                                |     |              |    9,090 |   |     |      |   24,709 |   |
| Inventories                                                                                                                                                                                                                        |     |              |    7,198 |   |     |      |    8,733 |   |
| Prepaid expenses and other current assets                                                                                                                                                                                          |     |              |    1,941 |   |     |      |    2,898 |   |
| Total current assets                                                                                                                                                                                                               |     |              |  115,497 |   |     |      |  227,817 |   |
| Property and equipment, net                                                                                                                                                                                                        |     |              |   17,479 |   |     |      |   17,111 |   |
| Operating lease                                                                                                                                                                                                                    
 right-of-use assets,