Company: BLLN
Filing Date: 2025-10-07
Form Type: S-1
Source: 0001193125-25-233697
Chunk: 383

Company: BillionToOne, Inc.
Filing Date: 2025-10-07
Form: S-1
Chunk 383
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, Prenatal and Clinical trial support services for the six months ended June 30, 2024 and 2025 (in thousands):

|                                 |     |   |   2024 |     |   |    2025 |
|:--------------------------------|:----|:--|-------:|:----|:--|--------:|
| Prenatal                        |     | $ | 66,079 |     | $ | 116,928 |
| Oncology                        |     |   |    713 |     |   |   7,124 |
| Clinical trial support services |     |   |  2,294 |     |   |   1,484 |
| Total revenues                  |     | $ | 69,086 |     | $ | 125,536 |

F-46

BILLIONTOONE, INC.

Notes to Unaudited Interim Financial Statements

Substantially all revenues recognized for the six months ended June 30, 2024 and 2025 were generated in
the United States.

Deferred revenue

Deferred
revenue, which is a contract liability, consists of billings or cash received for services in advance of revenue recognition and is recognized as revenue when all the Company’s revenue recognition criteria are met. As of December 31, 2024
and June 30, 2025, the deferred revenue balance was $2.8 million and $2.2 million, respectively, all of which is considered short-term. For the six months ended June 30, 2024 and 2025, revenue recognized from deferred revenue at
the beginning of the period was $2.3 million and $1.5 million respectively. The decrease in deferred revenue balances as of December 31, 2024 as compared to June 30, 2025 is attributed to the timing of contractual payments for
testing and consulting services and timing of delivery of the clinical test results and services.

Comprehensive Loss

During the six months ended June 30, 2024 and 2025, the Company did not have any other comprehensive income (loss) and, therefore, the net loss and
comprehensive loss was the same.

Deferred Offering Costs

Deferred offering costs, consisting of legal, accounting, and other fees and costs relating to the Company’s planned initial public offering (IPO) are
capitalized within other non-current assets on the balance sheets. The deferred offering costs will be offset against the proceeds received by the Company