Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 348

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 348
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 such as salaries, stock-based compensation expense and related benefits for the Company’s sales, marketing, and general and F-14

B ILLIONT OO NE, INC.

Notes to Financial Statements

administrative employees. Selling, general and administrative expenses also include the Company’s commission payments, marketing related expenses in promoting the Company’s brand and
tests, and training costs for the sales employees. All selling, general and administrative costs are expensed in the period as incurred.

Income Taxes

Income taxes are accounted for under the asset-and-liability
method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases and operating
loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on
deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided on deferred tax assets when it is
more-likely-than-not that some portion or all of the net deferred tax assets will not be realized. The Company evaluates uncertain tax positions taken or expected to be taken in the course of preparing its tax
return to determine whether the tax positions are more-likely-than-not of being sustained upon challenge by the applicable tax authority based on the technical merits of the position. The Company recognizes
the effect of income tax positions only if those positions are more-likely-than-not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than a 50% likelihood
of being realized upon ultimate settlement. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company recognizes interest and penalties related to income tax matters in provision for income
taxes.

Comprehensive Loss

During the years
ended December 31, 2023 and 2024, the Company did not have any other comprehensive income (loss) and, therefore, the net loss and comprehensive loss was the same.

Redeemable Convertible Preferred Stock

The
Company records shares of redeemable convertible preferred stock at their respective fair values on the dates of issuance, net of issuance costs. The redeemable convertible preferred stock is recorded outside of permanent equity because while it is
not mandatorily redeemable, redemption is contingent upon the occurrence of certain events considered not solely within