Company: BLLN
Filing Date: 2025-10-17
Form Type: S-1/A
Source: 0001193125-25-242632
Chunk: 355

Company: BillionToOne, Inc.
Filing Date: 2025-10-17
Form: S-1/A
Chunk 355
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B ILLIONT OO NE, INC.

Notes to Financial Statements

Common Stock Warrants

Certain freestanding warrants to purchase shares of common stock are classified as liabilities on the balance sheets at their estimated fair value as the
warrants allow the holders to put the warrants to the Company in exchange for a cash payment. Those puttable warrants to purchase shares of common stock are recorded at fair value upon issuance and remeasured to fair value. Common stock warrants are
subject to re-measurement at each balance sheet date and any change in fair value is recognized as other income (expense) in the statements of operations and comprehensive loss (See Note 3).

Stock-Based Compensation

The Company measures
stock-based compensation expense for all stock-based payment awards based on the estimated fair value of the awards on the date of grant. The fair value of each stock option granted is estimated using the Black-Scholes-Merton option valuation model
(the “Black-Scholes Model”). The model requires the Company to make assumptions and judgments about the variable inputs used in the Black-Scholes Model, including expected term, the volatility of the Company’s common stock, and
assumed risk-free interest rate. Stock-based compensation is recognized net of actual forfeitures on a straight-line basis over the requisite service period of the awards. The Company accounts for forfeitures as they occur.

The Company has granted awards to employees that vest based on continued service (service conditions). Stock-based compensation expense is recognized on a
straight-line basis over the service period.

Segment information

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief
Operating Decision Maker (“CODM”) in deciding how to allocate resources and assess performance. The Company’s Chief Executive Officer is the Company’s CODM. The CODM reviews financial information presented on a company-wide
basis to make operating decisions, allocating resources, and evaluating financial performance. As such, the Company has determined that it is managed as one operating segment and one reportable segment.

Key areas of focus for the CODM when making decisions on the allocations of resources is cash used in operations as well as revenue, gross margin and net
loss; this information is used by the CODM and compared to budgeted amounts in order for the CODM to make decisions on how resources should be allocated across the organization. The Company’s segment measure of profitability is net loss.

Segment revenues are derived from prenatal and oncology testing results, leveraging the Company’s diagnostic