Company: BLLN
Filing Date: 2025-10-17
Form Type: S-1/A
Source: 0001193125-25-242632
Chunk: 168

Company: BillionToOne, Inc.
Filing Date: 2025-10-17
Form: S-1/A
Chunk 168
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          | (27)% |

112

Interest expense decreased $0.9 million, or 27%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. The decrease was attributed to incurring a full year’s worth of interest in 2023 on the Western Alliance Bank debt compared to only a partial year of interest that was incurred in 2024, as the Western Alliance debt was replaced by the Oberland Capital debt in August 2024. The Oberland Capital debt was accounted for using the fair value method and interest expense related to the Oberland Capital debt was recorded in the change in fair value of term loan. Net gain on extinguishment of debt

|                                    |     | Year ended            
 December 31,          
 2023                  |   |     | 2024 |       |     | $ Change |       |     | % Change |    |
|:-----------------------------------|:----|:----------------------|:--|:----|:-----|------:|:----|:---------|------:|:----|:---------|:---|
|                                    |     | -dollars in thousands |   |     |      |       |     |          |       |     |          |    |
| Net gain on extinguishment of debt |     | $                     | — |     | $    | 7,289 |     | $        | 7,289 |     |          | —% |

Net gain on extinguishment of debt was $7.3 million for the year ended December 31, 2024. We did not record an extinguishment of debt for the year ended December 31, 2023. This was due to an $8.6 million gain on extinguishment of the 2022 Convertible Notes due to a modification of the class of preferred stock into which the 2022 Convertible Notes ultimately converted. This gain was partially offset by a $1.3 million loss on extinguishment of the Western Alliance Bank debt. Change in fair value of term loan

|                                   |     | Year ended            
 December 31,          
 2023                  |   |     | 2024 |        |   |     | $ Change |        |   |     | % Change |    |
|:----------------------------------|:----|:----------------------|:--|:----|:-----|:-------|:--|:----|:---------|:-------|:--|: