Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 139

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 139
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64,641 | ) |     | $ | (38,784 | ) |

Non-GAAPnet loss We monitor non-GAAPnet loss income for planning and performance measurement purposes. We define non-GAAP netloss as net loss reported on our statements of operations, excluding the impact of stock-based compensation expenses, net gain on extinguishment of debt, change in fair value of the term loan, and change in fair value of convertible notes. We have presented non-GAAPnet loss because we believe that the exclusion of these charges allows for a more relevant comparison of our results of operations to other companies in our industry and facilitates period-to-period comparisonsas it eliminates the effect of certain factors unrelated to our overall operating performance. We exclude fair value adjustments related to debt, which can fluctuate significantly and do not directly reflect our underlying operations. Our calculation of non-GAAPnet loss does not currently include the tax effects of the stock-based compensation expense adjustment because such tax effects have not been material to date. 105

A reconciliation of net loss, the most directly comparable GAAP financial measure, to non-GAAPnet loss is presented below (in thousands):

|                                           |     | Years Ended  
 December 31, |    2023 |   |     |   |    2024 |   |
|:------------------------------------------|:----|:-------------|--------:|:--|:----|:--|--------:|:--|
| Net loss                                  |     | $            | (82,683 | ) |     | $ | (41,570 | ) |
| Stock-based compensation expense          |     |              |   4,854 |   |     |   |   8,362 |   |
| Net gain on extinguishment of debt        |     |              |       — |   |     |   |  (7,289 | ) |
| Change in fair value of term loan         |     |              |       — |   |     |   |   3,137 |   |
| Change in fair value of convertible notes |     |              |  12,921 |   |     |   |     835 |   |
| Non-GAAP net loss                         |     | $            | (64,908 | ) |     | $ | (36,525 | ) |

Liquidity and capital resources Since our inception, we have financed our operations primarily through the issuance of convertible notes, redeemable convertible preferred stock, debt, and cash generated from the sale of