Company: BLLN
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0000950123-25-007483
Chunk: 212

Company: BillionToOne, Inc.
Filing Date: 2025-08-11
Form: DRS/A
Chunk 212
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 and we believe this efficiency will be maintained or further increase as we systematically grow our sales team.

We also drive physician awareness of our products by actively participating in industry conferences, publishing in relevant scientific journals, and driving dialogue
with key opinion leaders and physician organizations. These efforts have already resulted in practice advisory changes within the prenatal field, including for RhD and fetal antigen NIPT. Across both prenatal and oncology, we believe that our
ongoing and planned studies will help drive increased guideline expansion. Through our extensive digital marketing, we also engage directly with motivated patients, and this can lead to access to physicians in clinics that typically do not otherwise
allow sales representative presence.

In international markets, which represented less than 1% of our revenue for the year ended December 31, 2024, we primarily
sell through distributors, which collect and send samples to our laboratories in the United States. In these markets, the patient bears the full cost of the testing, which limits the adoption. In the future, we believe that the health economics of
our tests will enable nationwide coverage via single-payor agreements. However, this is often predicated on the tests being performed locally within the country, requiring capital investments in international markets. While we believe that
international expansion could significantly expand our total addressable market, we are currently focusing on expansion opportunities in the United States.

Prenatal commercialization

We sell our UNITY products through direct
targeting of OB-GYNs, GCs, MFMs and others in the United States. Our penetration in prenatal is often executed via a
“land-and-expand” strategy in which the adoption of UNITY by one physician in a larger clinic often leads to increased access and broader adoption of our tests
by other physicians in the clinic. This approach enables us to first access clinics and then expand within those clinics by providing an excellent end-to-end service.
Our high client satisfaction is evidenced by our low churn, which is an important factor in our rapid growth.

Our tests are typically ordered during the first
trimester, starting as early as nine weeks into the pregnancy, and help physicians and patients assess risk across a variety of conditions. We have simplified billing process that consolidates all tests ordered into one claim and one bill. Our
dedicated clinical support staff aids in our commercial and education efforts by providing workflow implementation, patient and payor billing, and report interpretation.

We also have a global partnership with Johnson & Johnson in the AZALEA Phase 3 clinical trial of nipocalimab in pregnancies