Company: BLLN
Filing Date: 2025-10-17
Form Type: S-1/A
Source: 0001193125-25-242632
Chunk: 169

Company: BillionToOne, Inc.
Filing Date: 2025-10-17
Form: S-1/A
Chunk 169
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----|:---------|:---|
|                                   |     | -dollars in thousands |   |     |      |        |   |     |          |        |   |     |          |    |
| Change in fair value of term loan |     | $                     | — |     | $    | (3,137 | ) |     | $        | (3,137 | ) |     |          | —% |

Change in fair value of term loan decreased $3.1 million, for the year ended December 31, 2024 compared to the year ended December 31, 2023. The decrease was due to a change in fair value of the Oberland debt of $1.5 million in addition to the interest expenses associated with the Oberland debt of $1.6 million, which we elected to record with the change in the fair value of the loan. Change in fair value of convertible notes

|                                           |     | Year ended            
 December 31,          
 2023                  |         |   |     | 2024 |      |   |     | $ Change |        |     | % Change |       |
|:------------------------------------------|:----|:----------------------|:--------|:--|:----|:-----|:-----|:--|:----|:---------|-------:|:----|:---------|:------|
|                                           |     | -dollars in thousands |         |   |     |      |      |   |     |          |        |     |          |       |
| Change in fair value of convertible notes |     | $                     | (12,921 | ) |     | $    | (835 | ) |     | $        | 12,086 |     |          | (94)% |

Change in fair value of convertible notes decreased $12.1 million, or 94%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. The decrease was due to a change in fair value of the 2022 Convertible Notes that were extinguished in 2024; we elected to include interest expense in the change in fair value of the convertible notes. 113

Other expense, net

|                    |     | Year ended            
 December 31,          
 2023                  |      |   |     | 2024 |        |   |     | $ Change |      |   |     | % Change |      |