Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 292

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 292
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 for a collateralized borrowing equal to the total lease payments over the term of the lease). Because the Company’s leases generally do not provide an implicit rate, the Company estimates its incremental borrowing rate based on the information available such as credit rating, lease term and collateral at lease commencement date for borrowings with a similar term. Lease expense for operating leases consists of the fixed lease payments recognized on a straight-line basis over the lease term plus variable lease payments as incurred. Lease expense for finance leases consists of the depreciation recognized on a straight-line basis over the lease term and interest expense on the lease liability based on the discount rate at lease commencement. The Company does not assume renewals or early terminations unless it is reasonably certain the Company will exercise these options at commencement. The Company elected the practical expedient which allows the Company to not allocate consideration between lease and non-leasecomponents. Variable lease payments are recognized in the period in which the obligation for those payments are incurred. Revenue The Company recognizes revenue upon transfer of control of promised goods and services in an amount that reflects the consideration it expects to be entitled to receive in exchange for those goods and services. Under ASC 606— Revenue from Contracts with Customers(ASC 606), the Company applies the following five-step approach:

| • |     | Identify the contract with a customer |

| • |     | Identify the performance obligations in the contract |

| • |     | Determine the transaction price |

| • |     | Allocate the transaction price to the performance obligations in the contract |

| • |     | Recognize revenue when, or as, a performance obligation is satisfied |

The Company generates revenue primarily from prenatal and oncology testing services, which are referred to as testing services or test results. The Company considers the patient as its customer, that requests a test service through their physician. Test results are the single performance obligation being provided to customers. Testing service revenue is recognized at a point in time when test results are delivered to the ordering physician. The F-12

B ILLIONT OO NE, INC.

Notes to Financial Statements

Company generally bills an insurance carrier, Medicaid or a patient or a combination of both upon delivery of test results.

The Company enters into contracts with third-party payors including insurance carriers and Medicaid to set the pricing for tests provided to patients. Due to
the nature of these third-party payor contract arrangements, the total consideration the Company expects to collect for test results is variable as they are dependent on the terms negotiated with the third-party payor. The predominance of the