Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 23

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 23
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 the impact of certain items that we believe do not directly reflect our underlying operations, we are of the opinion that non-GAAPoperating loss and non-GAAPnet loss provide meaningful supplemental information regarding our performance. However, there are a number of limitations related to the use of non-GAAP financialmeasures, and these non-GAAP measuresshould be considered in addition to, not as a substitute for or in isolation from, our financial results prepared in accordance with GAAP. Other companies, including companies in our industry, may calculate these non-GAAP financialmeasures differently or not at all, which reduces their usefulness as comparative measures.

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The following table summarizes our non-GAAPfinancial measures for each period presented below. See the section titled “Management’s discussion and analysis of financial condition and results of operations—Non-GAAPfinancial measures” for additional information and reconciliations of our non-GAAPfinancial measures to the most directly comparable financial measures prepared in accordance with GAAP.

| (in thousands)                |     | Year ended December 31, 
 2023                    |         |   |     | 2024 |         |   |     | Six months ended June 30, 
 2024                      |     | 2025 |
|:------------------------------|:----|:------------------------|:--------|:--|:----|:-----|:--------|:--|:----|:--------------------------|:----|:-----|
| Non-GAAP loss from operations |     | $                       | (64,641 | ) |     | $    | (38,784 | ) |     | $                         |     | $    |
| Non-GAAP net loss             |     |                         | (64,908 | ) |     |      | (29,236 | ) |     |                           |     |      |

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Risk factors Investing in our Class A common stock involves a high degree of risk. You should carefully consider the following risks and uncertainties described below, together with all of the other information contained in this prospectus, including our financial statements and the related notes and the section titled “Management’s discussion and analysis of financial condition and results of operations,” before making a decision to invest in our Class A common stock. The risks and uncertainties described below are not the only ones we may face. Our business, financial results, or prospects could also be harmed by additional risks and uncertainties not currently known to us or that we currently do not believe are material to disclose. Any of the