Company: BLLN
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0000950123-25-007483
Chunk: 136

Company: BillionToOne, Inc.
Filing Date: 2025-08-11
Form: DRS/A
Chunk 136
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 influence, our operating performance and results of operations. While each of these factors presents significant opportunities for our business, they also pose important risks and challenges that we must successfully address to sustain and grow our business and improve our results of operations. Our ability to successfully address the factors below is subject to various risks and uncertainties, including those described under the section titled “Risk factors.”

| • |     | Market adoption and commercial success |

Our success and future growth depend on maintaining and expanding market acceptance and achieving commercial success in our prenatal and oncology product lines. This requires our sales teams to develop 93

and maintain relationships with obstetricians, maternal-fetal medicine specialists, oncologists, and other providers. In addition, our sales teams must be able to convincingly communicate the clinical utility and value of our tests in enabling personalized patient care. The commercial success of our existing tests and any new tests we develop will depend upon factors such as clinical evidence supporting their effectiveness, inclusion in clinical practice guidelines, adoption by the medical community, favorable coverage by third-party payors, and our ability to differentiate our offerings in competitive markets. In addition, our ability to maintain and expand our sales and marketing capabilities to support increased adoption of our molecular diagnostic solutions will be another key factor to our success. Our strategies to support our products’ adoption and our commercial success include:

| • |     | Increase geographic coverage: Each field sales representative can effectively cover a small geographic region.                                 
 Adding additional sales representatives enables our sales team to effectively access and convert new clinics in additional geographic regions. |

| • |     | Greater penetration within a covered territory: As the account access, provider education, and onboarding of a new                                                                                                                                      
 ordering provider within a clinic takes time, our sales representatives often onboard one clinic at a time. Approximately 35% of our sales team members have been in their territories for less than 18 months. As our sales representatives mature, we 
 expect them to further penetrate their territories. Even our most tenured continue to onboard new clinics.                                                                                                                                              |

| • |     | Expansion within a clinic: Once an ordering provider within a clinic first starts to use our tests, we often see                                                                                                                                         
 expansion of our tests to other providers within the clinic. We believe that our unique product offerings and exceptional end-to-end service drive this adoption. Our                                                                                    
 cohort analysis indicates that the net test retention, as defined by the total number of tests that are received from a cohort of clinics first onboarded in a particular quarter, even after accounting for any account or