Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 513

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 2
Chunk 513
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 (loss)$5,711 $(14,904)$1,477 $(30,093)Income tax (benefit) / expense(129)- (15)5 Interest (income)(1,535)(1,952)(4,492)(4,148)Interest expense20 422 92 2,339 Depreciation and amortization1,692 1,809 5,232 5,241 Stock-based compensation expense4,475 2,150 9,581 6,055 Net (gain) loss on extinguishment of debt- 1,346 - (7,289)Decrease in fair value of term loan3,936 2,283 7,038 2,283 Decrease in fair value of convertible notes- - - 835 Adjusted EBITDA$14,170 $(8,846)$18,913 $(24,772)

Non-GAAP income (loss) from operations

We define non-GAAP operating income (loss) as operating income (loss) presented in accordance with GAAP, adjusted to exclude stock-based compensation expenses.

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

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Income (loss) from operations$9,633 $(12,634)$5,691 $(35,454)Stock-based compensation expense4,475 2,150 9,581 6,055 Non-GAAP income (loss) from operations$14,108 $(10,484)$15,272 $(29,399)

Non-GAAP net income (loss)

We monitor non-GAAP net income (loss) for planning and performance measurement purposes. We define non-GAAP net income (loss) as net income (loss) reported on our statements of operations, excluding the impact of stock-based compensation expenses, net gain or loss 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-GAAP net income (loss) does not currently include the tax effects of the stock-based