Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 339

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 339
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 liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reporting period. On a regular basis, management evaluates estimates, including, but not limited to: the fair value of common stock, stock-based compensation, deferred tax assets and
liabilities, useful lives of long-lived assets, the incremental borrowing rate applied to operating and finance leases, determination of revenue recognition and accounts receivable, the valuation of warrants for common stock and warrants for
redeemable convertible preferred stock, and valuation of debt and convertible notes. These estimates are inherently subject to judgment and actual results could differ from those estimates.

Emerging Growth Company

The Company is an
emerging growth company, as defined by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies may delay adopting new or revised accounting standards that have different effective
dates to public and private companies until the earlier of the date that (i) the 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