Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 134

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 134
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|:----|:--|---------:|:----|:----|:---------|
|              |     | -dollars in thousands |        |     |   |        |     |   |          |     |     |          |
| Gross profit |     | $                     | 17,308 |     | $ | 80,915 |     | $ |   63,607 |     |     | 368%     |
| Gross margin |     |                       |    24% |     |   |    53% |     |   |          |     |     |          |

Gross profit increased $63.6 million, or 368%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. The increase was primarily due to an increase in tests processed and a higher ASP. Gross margin increased from 24% for the year ended December 31, 2023 to 53% for the year ended December 31, 2024 for the reasons described above. Operating expenses Research and development expenses

|                                   |     | Year ended            
 December 31,          |   2023 |     |   |   2024 |     |   | $ Change |     |     | % Change |
|:----------------------------------|:----|:----------------------|-------:|:----|:--|-------:|:----|:--|---------:|:----|:----|:---------|
|                                   |     | -dollars in thousands |        |     |   |        |     |   |          |     |     |          |
| Research and development expenses |     | $                     | 22,414 |     | $ | 36,596 |     | $ |   14,182 |     |     | 63%      |

Research and development expenses increased $14.2 million, or 63%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. The increase was primarily due to a $6.4 million increase in salaries and related expenditures, which included a $0.9 million increase in stock-based compensation expense, a $5.1 million increase in overhead allocation, facilities and equipment depreciation, a $2.0 million increase in expense related to clinical studies, and a $0.7 million increase in consulting and other costs. These increases were primarily driven by a net increase in