Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 366

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 8
Chunk 366
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 If an option does not permit early exercise, then such option shall not be exercisable with respect to unvested shares. As of September 30, 2025 and December 31, 2024, the Company had authorized 12,409,025 and 10,904,372 shares of common stock reserved for issuance under the 2018 Plan, respectively.Stock-based CompensationThe weighted average assumptions used to calculate the fair value of option grants issued under the 2018 Plan during the three and nine months ended September 30, 2025 and 2024 were as follows:Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Fair value of common stock$31.74 $16.89 $25.68 $15.68 Dividend yield- %- %- %- %Risk-free interest rate3.9 %4.1 %4.2 %4.2 %Expected volatility74 %68 %73 %68 %Expected term (in years)6.026.056.286.01A summary of the Company’s stock option activity and related information is as follows:Number ofOptionsOutstandingWeightedAverageExercise PricePer ShareAggregateIntrinsic Value(in thousands)Balance as of December 31, 20246,849,412$7.28 $73,992 Granted2,721,201$20.17 Exercised(252,517)$4.30 Forfeited or expired(276,242)$14.24 Balance as of September 30, 20259,041,854$11.03 $268,925 Vested and exercisable as of September 30, 20254,876,287$5.60 $171,507 Vested and expected to vest as of September 30, 20259,041,854$11.03 $268,925 As of September 30, 2025, there was approximately $60.7 million of total unrecognized compensation cost related to unvested options, which is expected to be recognized over the weighted average period of 3.8 years. Also, in June 2025, the Board of Directors granted stock options of 1,003,102 shares to the Company’s Chief Executive Officer and Co-Founder and 501,551 shares to the Chief Technology Officer and Co-Founder at an