Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 354

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 354
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 exercised, expire, or qualify for equity classification. F-19

B ILLIONT OO NE, INC. Notes to Financial Statements For the years ended December 31, 2023 and 2024, the Company recognized losses related to the change in the fair value of convertible notes in change in fair value of convertible notes in the statements of operations and comprehensive loss. During the year ended December 31, 2024, the convertible notes were settled in Series C-1Redeemable Convertible Preferred Stock which was accounted for as a debt extinguishment as the settlement was not pursuant to the original conversion terms. The Company recorded a gain on extinguishment in net gain on extinguishment of debt in the statements of operations and comprehensive loss upon the conversion date (See Note 9). For the year ended December 31, 2024, the Company recognized a loss related to the change in fair value of the term loan in change in fair value of term loan in the statements of operations and comprehensive loss. The common stock warrant liability and redeemable convertible preferred stock warrant liabilities are recorded within other non-currentliabilities on the balance sheets as of ended December 31, 2023 and 2024. The convertible notes are presented in current liabilities on the balance sheet as of December 31, 2023. The term loan is recorded within long-term debt on the balance sheet as of December 31, 2024. The Company recognizes transfers among Level 1, Level 2 and Level 3 classifications as of the actual date of the events or change in circumstances that caused the transfers. During the years ended December 31, 2023 and 2024, the Company had no transfers of financial assets or liabilities between Level 1 and Level 2 or between Level 2 and Level 3 of the fair value hierarchy. (4) Property and Equipment, Net Property and equipment, net consisted of the following (in thousands):

|                                                 |     |   |    2023 |   |     |   |    2024 |   |
|:------------------------------------------------|:----|:--|--------:|:--|:----|:--|--------:|:--|
| Machinery and equipment                         |     | $ |  10,616 |   |     | $ |  14,585 |   |
| Equipment under finance lease                   |     |   |  11,829 |   |     |   |  11,210 |   |
| Furniture and