Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 279

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part II, Item 1A
Chunk 279
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 for, and enhancements to, current offerings;

•the cost of expanding our offerings, including our sales and marketing efforts;

•our ability to obtain coverage and reimbursement for our tests, as we continue to invest in expanding our offerings;

•our ability to generate sufficient revenue from our tests;

•our ability to collect on our accounts receivable;

•our need to finance capital expenditures and further expand our laboratory operations;

•our ability to manage our operating costs;

•costs and expenses to protect or enforce our intellectual property rights or to defend against infringement claims brought against us, including any associated litigation settlements or judgments we are required to pay; and

•the timing and results of any regulatory authorizations that we are required to obtain for our tests.

While we currently have in place a debt facility pursuant to which we have an obligation to sell a tranche of notes in the amount of $30.0 million before March 31, 2026, as described in more detail below, we may need to raise additional capital which may not be available on satisfactory terms or at all. Furthermore, any additional capital raised through the sale of equity or convertible securities, or grant of equity or convertible securities in connection with any debt financing, will dilute stockholders’ ownership interests in us and may have an adverse effect on the market price of our Class A common stock. In addition, the terms of any financing may adversely affect stockholders’ holdings or rights. To the extent that we raise capital through collaborations and licensing arrangements, it may be necessary to relinquish some rights to our technologies or grant licenses on terms that may not be favorable to us.

These alternatives for raising additional capital may not be available to us on acceptable or commercially reasonable terms, if at all, or in amounts sufficient to meet our needs. If we are not able to obtain adequate funding when needed, we may be required to delay or slow our investment in the development and commercialization of our products and significantly scale back our business and operations, which would have an adverse effect on our business.

Risks related to our intellectual property

Any inability to effectively protect our proprietary technologies could harm our competitive position.

We rely on patent protection as well as trademark, copyright, trade secret and other intellectual property rights protection and contractual restrictions to protect our proprietary technologies, all of which provide limited 

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protection and may not adequately protect our rights or permit us to gain or keep any competitive advantage. As of September 30, 2025, we held nine U.S. issued patents, 45 foreign patents