Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 393

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 393
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 amount that would generate an IRR of 10.0%.

F-55

BILLIONTOONE, INC. Notes to Unaudited Interim Financial Statements The Company is required to maintain trailing six-monthnet revenue based on a schedule that gradually increases up to $120.0 million after the year ending December 31, 2026.

| Period     |     | Minimum Trailing  
 Six-Month Net     
 Revenue Threshold 
 (in millions)     |       |
|:-----------|:----|:------------------|------:|
| Q1 2025    |     | $                 |  56.1 |
| Q2 2025    |     | $                 |  65.6 |
| Q3 2025    |     | $                 |  75.8 |
| Q4 2025    |     | $                 |  82.8 |
| Q1 2026    |     | $                 |  87.2 |
| Q2 2026    |     | $                 | 101.8 |
| Q3 2026    |     | $                 | 117.2 |
| Q4 2026    |     | $                 | 120.0 |
| Thereafter |     | $                 | 120.0 |

In addition, the Company is required to maintain a trailing six-monthGross Margin of not less than 30%.The agreement also contains a revenue participation agreement, under which, for any fiscal quarter, 0.01% of net revenue for such fiscal quarter (up to $100.0 million of net revenue for each fiscal year) per each $1.0 million principal amount of the notes will be payable to Oberland Capital. Amounts paid under the revenue participation agreement during the 6 months ending June 30, 2025 were interest payments on the debt. The revenue participation payments are additional financing costs of the loan and are included in the computation of the internal rate of return measures described above and do not reduce principal on the debt. As of June 30, 2025, we have made revenue participation payments of $0.5 million. The Company elected to account for the 2024 Notes using the fair value option and changes in fair value related to the 2024 Notes are recorded in change in fair value of term loan on the Company’s statements of operations and comprehensive loss. The Company also elected to present interest incurred on the 2024 Notes in the