Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 4

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 4
---
 discussion and analysis of financial condition and results of operations> > Non-GAAP financial measures for additional information and reconciliations of our non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with GAAP 4. Our estimated US annual market opportunity includes important assumptions, including regarding the number of eligible patients, frequency of testing and ASPs. See Management’s discussion and analysis of financial condition and results of operations > Key factors affecting our results of operations and performance for more information regarding our total addressable market calculations and assumptions. Half of this addressable market includes early detection, an area in which we have not yet begun specific product development or commercial sales, but we believe will be strongly enabled by our existing research platform. 5. Last twelve months (LTM) revenue. Equal to sum of each month’s revenue over the prior 12 months ended June 30, 2025. 6. Number of billable tests received for processing. 7. Number of individuals covered under contracts with payors in the US as of June 30, 2025..

Key Metrics $265M+ annualized revenue run-rate (ARR)1 86% YOY revenue growth2 Emerging profitability3 $100B US annual market opportunity4 REVENUE $209M LTM revenue5 167% CAGR (2021-2024) TESTS ACCESSIONED6 508K LTM tests accessioned as of Jun 30, 2025 51% YOY tests accessioned growth2 1M+ tests accessioned since launch GROSS PROFIT MARGIN 65% gross profit margin H1 2025 14 pp YOY increase in gross profit margin2 OTHER $1.8M ARR per sales representative 225M+ covered lives7 1. Q2 2025 revenue of $66.6M annualized. Calculated as Q2 2025 revenue multiplied by 4. 2. Q2 2025 over Q2 2024. 3. Based on $0.1M EBITDA in Q2 2025 and ($0.2M) net loss in Q2 2025. 4. Our estimated US annual market opportunity includes important assumptions, including regarding the number of eligible patients, frequency of testing and ASPs. See Management's discussion and analysis of financial condition and results of operations > Key factors affecting our results of operations and performance for more information regarding our total addressable market calculations and assumptions.