Company: BLLN
Filing Date: 2025-10-17
Form Type: S-1/A
Source: 0001193125-25-242632
Chunk: 391

Company: BillionToOne, Inc.
Filing Date: 2025-10-17
Form: S-1/A
Chunk 391
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 the achievement of milestones, including (i) receipt of approval of the trial, which was achieved in 2023, (ii) various patient enrollment milestones, and (iii) subsequent full trial completion, as well as reimbursement for testing services. In making assessment of whether variable consideration should be included in the transaction price, the Company considers the degree of complexity and uncertainty associated with each milestone and related testing services, and whether achievement of the milestones and testing services are dependent on parties other than the Company. The Company recognizes revenue for the single performance obligation over time as the related services are provided. The Company utilizes an input method to measure progress to depict the transfer of services as the Company believes it provides a faithful depiction of the transfer of services over the contract. In accordance with ASC 606, the Company applies the constraint on variable consideration and includes such amounts in the transaction price only to the extent that it is probable that a significant reversal of cumulative revenue will not occur when the associated uncertainty is resolved. The Company applies the practical expedient not to disclose the value of unsatisfied performance obligations for contract with an original expected length of one year or less. As of June 30, 2025, the Company’s remaining performance obligations beyond one year were approximately $3.1 million. Disaggregation of revenue The following table presents disaggregation of revenue by Oncology, Prenatal and Clinical trial support services for the six months ended June 30, 2024 and 2025 (in thousands):

|                                 |     |   |   2024 |     |   |    2025 |
|:--------------------------------|:----|:--|-------:|:----|:--|--------:|
| Prenatal                        |     | $ | 66,079 |     | $ | 116,928 |
| Oncology                        |     |   |    713 |     |   |   7,124 |
| Clinical trial support services |     |   |  2,294 |     |   |   1,484 |
| Total revenues                  |     | $ | 69,086 |     | $ | 125,536 |

F-46

BILLIONTOONE, INC.

Notes to Unaudited Interim Financial Statements

Substantially all revenues recognized for the six months ended June 30, 2024 and 2025 were generated in
the United States.

Deferred revenue

Deferred
revenue, which is a contract liability, consists of billings or cash received