Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 342

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 342
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’s money market funds are quoted in an active market and classified within Level 1 of the fair value hierarchy, which are measured at fair value based on the closing price as of the reporting date. The Company’s convertible notes and term loan, which the Company elected the fair value option for, and warrant liabilities are classified as Level 3 of the fair value hierarchy and are recorded at fair value on a recurring basis. During the years ended December 31, 2023 and 2024, there was no change in the fair value of the convertible notes or loan agreement that was related to changes in credit risk. Accounts Receivable and Allowances The Company regularly assesses the collectability of accounts and reviews the allowance by considering factors such as historical experience, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. Based on this assessment for credit losses the Company determined an allowance for credit losses was not needed given the payors from whom such receivables are collectible and the relatively short duration over which the majority of receivables are collected. There was no allowance for credit losses as of December 31, 2023 and 2024. Account balances are written off against the allowance after all means of collection have been exhausted without success. During the years ended December 31, 2023 and 2024, there were no write-offs of accounts receivable. Inventories Inventories consist primarily of supplies for prenatal testing, consumables and lab supplies (including reagents) which are stated at the lower-of-costor net realizable value. The cost of inventory is determined on an average F-10

B ILLIONT OO NE, INC. Notes to Financial Statements cost method. Inventory that is obsolete or in excess of forecasted demand is written down to its estimated net realizable value. The Company periodically reviews its inventory and writes off products that are determined to be obsolete based on market factors, utilization rates and product expiration dates. Inventory write-downs are recognized as cost of revenue in the accompanying statements of operations and comprehensive loss. During the years ended December 31, 2023 and 2024, inventory write-downs totaled approximately $0.1 million and $0.1 million, respectively, and were related to expired and unusable products. Property and Equipment, Net Property and equipment, net is stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization on property and equipment is calculated using the straight-line method over the estimated useful