Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 125

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 125
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 representatives often onboard one clinic at a time. Approximately 35% of our sales team members have been in their territories for less than 18 months. As our sales representatives mature, we 
 expect them to further penetrate their territories. Even our most tenured continue to onboard new clinics.                                                                                                                                              |

| • |     | Expansion within a clinic: Once an ordering provider within a clinic first starts to use our tests, we often see                                                                                                                                         
 expansion of our tests to other providers within the clinic. We believe that our unique product offerings and exceptional end-to-end service drive this adoption. Our                                                                                    
 cohort analysis indicates that the net test retention, as defined by the total number of tests that are received from a cohort of clinics first onboarded in a particular quarter, even after accounting for any account or provider churn, is over 100% 
 after a year for the majority of quarterly cohorts.                                                                                                                                                                                                      |

| • |     | Effective marketing execution to drive adoption: We support our field sales team with marketing collaterals, digital                                                
 campaigns, webinars, and other marketing channels to help educate physicians about our products and the unique advantages and value propositions that they provide. |

| • |     | Our ability to continue innovating our test portfolio: We are focused on continually innovating our product                                              
 portfolio and capitalizing on opportunities created by our smNGS platform. This enhances our competitive position and positions us for long-term growth. |

| • |     | Payor coverage, contracting, and more effective reimbursement operations |

Our ASPs depend heavily on our success in achieving and maintaining broad coverage and adequate reimbursement for our molecular diagnostic tests from third-party payors. Coverage and reimbursement by third-party payors, including commercial health insurers, managed care organizations, and government healthcare programs such as Medicare and Medicaid, can be limited and uncertain for the types of specialized molecular diagnostic tests we offer. Each payor makes its own determination as to whether to establish a policy to cover our tests as well as the amount it will reimburse for such tests. Payors make these determinations based on factors that include medical necessity, clinical utility, and cost-effectiveness. Reimbursement rates vary significantly by test-type, payor, and coverage determination. We believe our tests provide far higher value than the Medicare Clinical Laboratory Fee Schedule (CLFS) rates established for our tests. For instance, in a peer-reviewed publication, the break-even price for sgNIPT was estimated between $2,336 (healthcare cost-neutral price with better outcomes) and $7,233