Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 208

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 1
Chunk 208
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Table of ContentsBillionToOne, IncNotes to Unaudited Interim Financial Statements

Stock-Based Compensation ExpenseThe table below shows stock-based compensation expense included in the statements of operations and comprehensive income (loss) for the three months ended and nine months ended September 30, 2025 and 2024 (in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Cost of revenue$401 $284 $1,139 $848 Research and development971 554 2,542 1,719 Selling, general and administrative3,103 1,312 5,900 3,488 Total stock-based compensation$4,475 $2,150 $9,581 $6,055 Secondary Sales of Common StockDuring June 2024, investors of the Company acquired 52,750 shares of common stock at a price per share equal to $22.42 per share from employee stockholders. During July 2024, investors of the Company acquired an additional 22,302 shares of common stock at a price per share equal to $22.42 per share from a stockholder who was a former employee of the Company. As a result, the Company recorded a total of $0.1 million and $0.4 million for the three months ended and nine months ended September 30, 2024, respectively, in stock-based compensation expense for the difference between the price paid by these investors and the estimated fair value of the acquired common stock from stockholders on the date of the transactions. No secondary sales occurred during the three and nine months ended September 30, 2025.Repurchase of Common StockIn February 2024, the Company’s Board of Directors agreed to repurchase 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 nine months ended September 30, 2024.

(10) Income Taxes

The Company has an effective tax rate of (2.31)%, 0.15%, (1.03)% and (