Company: BLLN
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0000950123-25-007483
Chunk: 154

Company: BillionToOne, Inc.
Filing Date: 2025-08-11
Form: DRS/A
Chunk 154
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| 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 our products. As of December 31, 2024, our principal sources of liquidity were cash and cash equivalents of $191.5 million and working capital of $199.4 million. Cash and cash equivalents are comprised of cash held in sweep accounts, checking accounts, lock-boxaccounts and money market funds. Our principal use of cash is to fund operations and invest in research and development to support our growth. We have generated significant losses from operations and negative cash flows from operating activities in the past as reflected in our accumulated deficit of $282.2 million as of December 31, 2024. We believe that our current cash and cash equivalents will be sufficient to fund our operations for at least the next 12 months. Our future capital requirements, however, will depend on many factors, including our growth rate, the timing and extent of our sales and marketing and research and development expenditures, the continuing market acceptance of our products, and the use of cash to fund potential mergers or acquisitions. In the event that 109

additional financing is required from outside sources, we may seek to raise additional funds through equity, equity-linked arrangements, and debt. If we are unable to raise additional capital when desired and at reasonable rates, our business, results of operations, and financial condition could be adversely affected. Oberland Capital note purchase agreement We have a debt facility with availability of up to $140