Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 356

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 8
Chunk 356
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4Discount rate8.02 %9.37 %Annual interest rate8.00 %8.00 %Expected term (years) – Scenario 14.505.32Expected term (years) – Scenario 25.856.69The common stock warrants, redeemable convertible preferred stock warrants, convertible notes and term loan are all classified as Level 3 fair value measurements due to the lack of relevant observable market data for the respective fair value inputs for each instrument.

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Table of ContentsBillionToOne, IncNotes to Unaudited Interim Financial Statements

The following tables present a summary of the changes in the fair value of the Company’s Level 3 financial instruments (in thousands):Common StockWarrantsRedeemableConvertiblePreferred StockWarrantsTerm LoanBalance at December 31, 2024$2,533 $230 $51,481 Adjustments to fair value(58)2 1,797 Balance at March 31, 20252,475 232 53,278 Adjustments to fair value(5)19 (1,206)Balance at June 30, 20252,470 251 52,072 Adjustments to fair value1,472 155 2,914 Balance at September 30, 2025$3,942 $406 $54,986 Common StockWarrantsRedeemableConvertiblePreferred StockWarrantsConvertible NotesTerm LoanBalance at December 31, 2023$1,653 $146 $47,686 $— Adjustments to fair value167 16 337 — Balance at March 31, 20241,820 162 48,023 — Adjustments to fair value190 17 498 — Gain on extinguishment— — (8,635)— Settlements— — (39,886)— Balance at June 30, 20242,010 179 — — Additions— — — 50,000 Adjustments to fair value143 16 — 1,650 Balance at September 30, 2024$2,153 $195 $— $51,650 For the three months ended and nine months ended September 30, 2025 and 2024, the Company recognized losses related to the change in the fair value of the common stock warrant liability