Company: BLLN
Filing Date: 2025-06-20
Form Type: DRS
Source: 0000950123-25-006095
Chunk: 322

Company: BillionToOne, Inc.
Filing Date: 2025-06-20
Form: DRS
Chunk 322
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 In November 2022, the executive partially repaid the promissory note, resulting in net proceeds to the Company of $62,000. In June 2023, the executive fully repaid the promissory note, resulting in net proceeds to the Company of $51,000. The Recourse Notes issued were collateralized by the shares issued in exchange for the notes and were nonrecourse for accounting purposes as the Company did not intend nor has a history of demanding repayment of loan amounts in excess of the fair value of the shares. As such, for accounting purposes the exercised awards continue to be treated as unexercised awards and are not reflected as outstanding in the financial statements until the notes are repaid and the underlying awards have vested. Incremental stock-based compensation expense was not material.

| (12) | Income Taxes |

The components of the provision for income taxes for the year ended December 31, 2023 and 2024 are as follows (in thousands):

| Current:                         |     | 2023 |   |     | 2024 |    |
|:---------------------------------|:----|:-----|--:|:----|:-----|---:|
| Federal                          |     | $    | - |     | $    |  - |
| State                            |     |      | 9 |     |      | 29 |
| Foreign                          |     |      | - |     |      |  - |
|                                  |     |      | 9 |     |      | 29 |
| Deferred:                        |     |      |   |     |      |    |
| Federal                          |     |      | - |     |      |  - |
| State                            |     |      | - |     |      |  - |
| Foreign                          |     |      | - |     |      |  - |
|                                  |     |      | - |     |      |  - |
| Total provision for income taxes |     | $    | 9 |     | $    | 29 |

F-34

B ILLIONT OO NE, INC. Notes to Financial Statements Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets as of December 31, 2023 and 2024 are as follows (in thousands):

| Deferred tax assets:             |     | 202