Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 510

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 2
Chunk 510
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 and development expenses

Research and development expenses increased $9.5 million, or 37%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The increase was primarily due to a $7.3 million increase in personnel costs which includes $0.8 million in stock-based compensation expense and a $2.7 million increase in materials, equipment expenses and overhead allocations. These amounts were partially offset by a $0.5 million decrease in clinical studies expense. The increase in research and development expenses was primarily driven by an increase in average research and development headcount of 31 employees during the periods presented to support our product development and innovation efforts.

Selling, general and administrative expenses

Selling, general and administrative expenses increased $34.0 million, or 52%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The increase was primarily due to a $26.7 million increase in salaries, commissions and related expenditure which includes $2.3 million in stock-based compensation expense, a $4.0 million increase in facilities and other costs, and a $3.1 million increase in professional and consulting fees. The increase in selling, general and administrative expenses was driven by an increase in average selling, general and administrative headcount of 101 employees during the periods presented to support our sales, marketing and other corporate strategies.

Interest income

Interest income increased by $0.3 million, or 8%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The increase was due to higher average balances of cash and cash equivalents.

38

Interest expense

Interest expense decreased $2.2 million, or 96%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The decrease is attributable to the payoff of the Western Alliance Bank debt; the principal on this debt was no longer outstanding during 2025.

Net (loss) gain on extinguishment of debt

Net (loss) gain on extinguishment of debt was $7.3 million for the nine months ended September 30, 2024. This was due to an $8.6 million gain on extinguishment of the 2022 Convertible Notes due to a modification of the class of preferred stock into which the 2022 Convertible Notes ultimately converted in