Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 338

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 338
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 company is no longer an emerging growth company or (ii) the Company affirmatively and irrevocably opts out of the extended transition period as permitted in
the JOBS Act. As a result, these financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates. The Company expects to avail itself of the extended
transition period for any other new or revised accounting standards during the period in which it remains an emerging growth company.

Liquidity

To date, the Company’s available liquidity and operations have been financed primarily through the issuance of convertible notes, redeemable
convertible preferred stock and debt. The Company has incurred losses through the year ended December 31, 2024. The Company used $53.7 million and $41.4 million in operating activities for the years ended December 31, 2023 and
2024, respectively, and had an accumulated deficit of $240.6 million and $282.2 million as of December 31, 2023 and 2024, respectively. The Company continues to invest in the

F-8

B ILLIONT OO NE, INC.

Notes to Financial Statements

development and commercialization of its existing and future products and, consequently, it will need to generate additional revenues to achieve future profitability and may need to raise
additional equity or debt financing. The Company believes its existing cash and cash equivalent balances and cash generated from sales will be sufficient to meet its cash needs for at least the next 12 months after the financial statements are
available for issuance.

These financial statements were prepared under the assumption that the Company will continue as a going concern, which
contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business, and do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and
classification of liabilities that might result from the outcome of this uncertainty.

Risks and Uncertainties

Certain of the Company’s product candidates are in clinical development or in preclinical development. If the Company is unable to advance its product
candidates through clinical development, obtain regulatory approval and ultimately commercialize its product candidates, or experiences significant delays in doing so, the Company’s business will be materially harmed. Even if the Company
completes the necessary preclinical studies and clinical trials, the regulatory approval process is expensive, time-consuming and uncertain and may prevent the Company from obtaining clinical trial and marketing approvals for the commercialization
of some or all