Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 399

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 399
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 a total of 26,750 shares of common stock that were held by a former employee of the Company. The repurchase price paid by the Company was $20.3950 per share, resulting in a total repurchase cost of $0.5 million. As the repurchase price paid by the Company to the former employee represented an excess over the common stock’s estimated fair market value at the time, the Company accounted for this premium as stock-based compensation expense of $0.2 million during the six months ended June 30, 2024. (11) Income Taxes The Company has an effective tax rate of (0.03)% and (2.73)% for the six months ended June 30, 2024 and 2025, respectively. The Company has incurred U.S. operating losses and has minimal profits in its foreign jurisdictions. The Company updates its estimate of the annual effective tax rate each quarter and makes a cumulative adjustment in such period. The Company recorded income tax expense of less than $0.1 million and $0.1 million for the six months ended June 30, 2024 and 2025, respectively. Income tax expense consists primarily of income taxes for U.S. federal and the states in which the Company conducts business. Due to the Company’s history of losses in the United States, a full valuation allowance on substantially all of the Company’s deferred tax assets, including net operating loss carryforwards, research and development tax credits, and other book versus tax differences, was maintained. (12) Employee Benefit Plan The Company sponsors a qualified 401(k) defined contribution plan covering eligible employees. Participants may contribute a portion of their annual compensation limited to a maximum annual amount set by the Internal Revenue Service. Employer contributions to the plan are discretionary. During the six months ended June 30, 2024 and 2025, the Company contributed $1.1 million and $1.7 million to this plan, respectively. F-60

BILLIONTOONE, INC. Notes to Unaudited Interim Financial Statements (13) Related Party Transactions During the year ended December 31, 2023, the Company’s former CFO left the Company. Upon his departure, the Company’s Board of Directors approved the extension of the exercise period to ten years from the date of grant for all of his common stock options that were fully vested at the time of his departure. The impact on the financial statements resulting from the extension of the exercise term was not material. In February 2024,