Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 399

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 399
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            |     |   |    1,166 |     |   |    1,571 |
| Selling, general and administrative |     |   |    2,175 |     |   |    2,797 |
| Total stock-based compensation      |     | $ |    3,905 |     | $ |    5,106 |

Secondary Sales of Common Stock During June 2024, investors of the Company acquired 52,750 shares of common stock at a price per share equal to $22.42 per share from employee stockholders. As a result, the Company recorded a total of $0.3 million for the six months ended June 30, 2024 in stock-based compensation expense for the difference between the price paid by these investors and the estimated fair value of the acquired common stock from stockholders on the date of the transactions. Repurchase of Common Stock In February 2024, the Company’s Board of Directors agreed to repurchase a total of 26,750 shares of common stock that were held by a former employee of the Company. The repurchase price paid by the Company was $20.3950 per share, resulting in a total repurchase cost of $0.5 million. As the repurchase price paid by the Company to the former employee represented an excess over the common stock’s estimated fair market value at the time, the Company accounted for this premium as stock-based compensation expense of $0.2 million during the six months ended June 30, 2024. (11) Income Taxes The Company has an effective tax rate of (0.03)% and (2.73)% for the six months ended June 30, 2024 and 2025, respectively. The Company has incurred U.S. operating losses and has minimal profits in its foreign jurisdictions. The Company updates its estimate of the annual effective tax rate each quarter and makes a cumulative adjustment in such period. The Company recorded income tax expense of less than $0.1 million and $0.1 million for the six months ended June 30, 2024 and 2025, respectively. Income tax expense consists primarily of income taxes for U.S. federal and the states in which the Company conducts business. Due to the Company’s history of losses in the United States, a full valuation allowance on substantially all of the Company’s deferred tax assets, including net operating loss carryforwards, research and development tax credits, and other book versus tax differences, was maintained. (12