Company: BLLN
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0000950123-25-007483
Chunk: 32

Company: BillionToOne, Inc.
Filing Date: 2025-08-11
Form: DRS/A
Chunk 32
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, number of shares offered, and other terms of this offering determined at pricing.                                               |

| (4) |     | We define working capital as current assets less current liabilities. See our financial statements and related notes appearing elsewhere in this prospectus for further details regarding our current assets and 
 current liabilities.                                                                                                                                                                                             |

Non-GAAP financialmeasures To supplement our financial statements, which are prepared and presented in accordance with generally accepted accounting principles in the United States (GAAP), we use the following non-GAAPfinancial measures for financial and operational decision-making and as a means to assist us in evaluating period-to-periodcomparisons. By excluding the impact of certain items that we believe do not directly reflect our underlying operations, we are of the opinion that non-GAAPoperating loss and non-GAAPnet loss provide meaningful supplemental information regarding our performance. However, there are a number of limitations related to the use of non-GAAP financialmeasures, and these non-GAAP measuresshould be considered in addition to, not as a substitute for or in isolation from, our financial results prepared in accordance with GAAP. Other companies, including companies in our industry, may calculate these non-GAAP financialmeasures differently or not at all, which reduces their usefulness as comparative measures.

18

The following table summarizes our non-GAAPfinancial measures for each period presented below. See the section titled “Management’s discussion and analysis of financial condition and results of operations—Non-GAAPfinancial measures” for additional information and reconciliations of our non-GAAPfinancial measures to the most directly comparable financial measures prepared in accordance with GAAP.

| (in thousands)                |     | Year ended December 31, 
 2023                    |         |   |     | 2024 |         |   |     | Six months ended June 30, 
 2024                      |     | 2025 |
|:------------------------------|:----|:------------------------|:--------|:--|:----|:-----|:--------|:--|:----|:--------------------------|:----|:-----|
| Non-GAAP loss from operations |     | $                       | (64,641 | ) |     | $    | (38,784 | ) |     | $                         |     | $    |
| Non-GAAP net loss             |     |                         | (64,908 | ) |     |      | (29,236 | ) |     |                           |     |      |
| EBITDA