Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 382

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 8
Chunk 382
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%Cost of revenue25,107 18,204 6,903 37.9 Gross profit58,416 20,215 38,201 189.0 Operating expenses:Research and development12,953 9,550 3,403 35.6 Selling, general and administrative35,830 23,299 12,531 53.8 Total operating expenses48,783 32,849 15,934 48.5 Income (loss) from operations9,633 (12,634)22,267 176.2 Other income (expense):Interest income1,535 1,952 (417)(21.4)Interest expense(20)(422)402 (95.3)Net (loss) gain on extinguishment of debt- (1,346)1,346 (100.0)Change in fair value of term loan(3,936)(2,283)(1,653)72.4 Other expense, net(1,630)(171)(1,459)853.2 Total other (expense) income(4,051)(2,270)(1,781)(78.5)Income (loss) before provision for income taxes5,582 (14,904)20,486 137.5 Provision for income taxes(129)- (129)— Net income (loss) and comprehensive income (loss)$5,711 $(14,904)$20,615 138.3 %

Revenues

Revenue increased $45.1 million, or 117%, for the three months ended September 30, 2025 compared to the three months ended September 30, 2024. This increase was driven primarily by a 52% increase in the total volume of delivered and billable tests to approximately 165,000 for the three months ended September 30, 2025  from approximately 108,500 for the three months ended September 30, 2024. The increase in revenue was also attributable to an increase in our Overall ASP3 of 44%. 

We derive our revenue primarily from the number of tests processed and results delivered to the ordering physician. All tests processed are accessioned in our laboratories.

The increase in test volume was driven by higher volumes of our prenatal tests primarily as a result of expansion of our sales force for our prenatal products. In addition, volumes for both our Northstar Select and Northstar