Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 508

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 2
Chunk 508
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 Change in fair value of convertible notes- (835)835 (100.0)Other expense, net(1,591)(614)(977)159.1 Total other (expense) income(4,229)5,366 (9,595)(178.8)Income (loss) before provision for income taxes1,462 (30,088)31,550 104.9 Provision for income taxes(15)5 (20)(400.0)Net income (loss) and comprehensive income (loss)$1,477 $(30,093)$31,570 104.9 %

Revenues

Revenue increased $101.6 million, or 95%, for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. This increase was driven primarily by a 52% increase in the total volume of delivered and billable tests to approximately 440,500 for the nine months ended September 30, 2025  from approximately 289,900 for the nine months ended September 30, 2024. The increase in revenue was also attributable to an increase in our Overall ASP of 30%.

We derive our revenue primarily from the number of tests processed and results delivered to the ordering physician. All tests processed are accessioned in our laboratories.

The increase in test volume was driven by higher volumes of our prenatal tests primarily as a result of expansion of our sales force for our prenatal products. In addition, volumes for both our Northstar Select and Northstar Response oncology tests increased as a result of expansion of our oncology sales force. The increase in our ASP per test was driven by several factors. Over the last 12 months we increased the number of contracts we have with payors for our prenatal tests which drove increases in ASP in the first nine months of 2025 compared to the same period in the prior year. In addition, during the second half of 2024 we began to benefit from a new proprietary PLA code for our prenatal tests, as when utilized the new PLA code is typically reimbursed at a higher rate than the codes for which we previously billed; this contributed to an increase in ASPs during the first nine months of 2025. We also benefited from an increased attachment and ordering rate of 22q11.2 micro deletion testing (our 22q test) along with our aneuploidy test and the resulting incremental reimbursement, and coverage of our Rh