Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 68

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 68
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 to fund all of our operations, including our product development 39

and commercialization plans and our sales and marketing efforts. Consequently, we may need to generate additional revenue to achieve or maintain future profitability and, even if this offering is successful, may need to raise additional funds through public or private equity or debt financings, corporate collaborations or licensing arrangements to continue to fund or expand our operations. However, subject to limited exceptions, our debt facility with BWCB SA LLC (an entity affiliated with Oberland Capital) prohibits us from incurring additional indebtedness without the prior written consent of Oberland Capital and investors holding at least 50% of the aggregate principal amount of the Note Purchase Agreement (as defined below). If sufficient funds on acceptable terms are not available when needed, or at all, we could be forced to significantly reduce operating expenses and delay, scale back or eliminate one or more of our development programs or our business operations. Furthermore, changing circumstances could result in lower revenues or cause us to consume capital significantly faster than we currently anticipate, and we may need to raise capital sooner or in greater amounts than currently expected because of circumstances beyond our control. Our actual capital funding requirements will depend on numerous factors, including:

| • |     | our ability to achieve broader commercial success with our tests; |

| • |     | the costs and success of our research, development, and commercialization efforts for potential new offerings and 
 additional indications for, and enhancements to, current offerings;                                               |

| • |     | the cost of expanding our offerings, including our sales and marketing efforts; |

| • |     | our ability to obtain coverage and reimbursement for our tests, as we continue to invest in expanding our offerings; |

| • |     | our ability to generate sufficient revenue from our tests; |

| • |     | our ability to collect on our accounts receivable; |

| • |     | our need to finance capital expenditures and further expand our laboratory operations; |

| • |     | our ability to manage our operating costs; |

| • |     | costs and expenses to protect or enforce our intellectual property rights or to defend against infringement claims brought 
 against us, including any associated litigation settlements or judgments we are required to pay; and                       |

| • |     | the timing and results of any regulatory authorizations that we are required to obtain for our tests. |

While we currently have in place a debt facility pursuant to which we may request up to an additional $60.0 million as of June 30, 2025