Company: BLLN
Filing Date: 2025-10-17
Form Type: S-1/A
Source: 0001193125-25-242632
Chunk: 172

Company: BillionToOne, Inc.
Filing Date: 2025-10-17
Form: S-1/A
Chunk 172
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   |     |      |   8,362 |   |     |      |                     3,905 |   |     |      |  5,106 |   |
| Non-GAAP income (loss) from operations |     | $    |                  (64,641 | ) |     | $    | (38,784 | ) |     | $    |                   (18,915 | ) |     | $    |  1,164 |   |

Non-GAAPnet loss We monitor non-GAAPnet loss income for planning and performance measurement purposes. We define non-GAAPnet loss as net loss reported on our statements of operations, excluding the impact of stock-based compensation expenses, net gain on extinguishment of debt, change in fair value of the term loan, and change in fair value of convertible notes. We exclude fair value adjustments related to debt, which can fluctuate significantly and do not directly reflect our underlying operations. Our calculation of non-GAAPnet loss does not currently include the tax effects of the stock-based compensation expense adjustment because such tax effects have not been material to date. 115

A reconciliation of net loss, the most directly comparable GAAP financial measure, to non-GAAPnet loss is presented below (in thousands):

|                                           |     | 2023 | Years ended December 31, |   |     | 2024 |         |   |     | 2024 | Six months ended June 30, |   |     | 2025 |        |   |
|:------------------------------------------|:----|:-----|-------------------------:|:--|:----|:-----|--------:|:--|:----|:-----|--------------------------:|:--|:----|:-----|-------:|:--|
| Net loss                                  |     | $    |                  (82,683 | ) |     | $    | (41,570 | ) |     | $    |                   (15,189 | ) |     | $    | (4,234 | ) |
| Stock-based compensation expense          |     |      |                    4,854 |   |     |      |   8,362 |   |     |      |                     3,905 |   |     |      |  5,106 |   |
| Net gain on extinguishment of debt        |     |      |                        — |   |     |      |  (7,289 | ) |     |