Company: BLLN
Filing Date: 2025-10-17
Form Type: S-1/A
Source: 0001193125-25-242632
Chunk: 174

Company: BillionToOne, Inc.
Filing Date: 2025-10-17
Form: S-1/A
Chunk 174
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             |  (8,846 | ) |     | $            |  (8,117 | ) |     | $         |  1,905 |   |     | $        |  2,838 |   |

Liquidity and capital resources Since our inception, we have financed our operations primarily through the issuance of convertible notes, redeemable convertible preferred stock, debt, and cash generated from the sale of our products. As of December 31, 2024, our principal sources of liquidity were cash and cash equivalents of $191.5 million and working capital of $199.4 million. Cash and cash equivalents are comprised of cash held in sweep accounts, checking accounts, lock-boxaccounts and money market funds. Our principal use of cash is to fund operations and invest in research and development to support our growth. We have generated significant losses from operations and negative cash flows from operating activities in the past as reflected in our accumulated deficit of $286.4 million as of June 30, 2025. We believe that our current cash and cash equivalents will be sufficient to fund our operations for at least the next 12 months. Our future capital requirements, however, will depend on many factors, including our growth rate, the timing and extent of our sales and marketing and research and development expenditures, the continuing market acceptance of our products, and the use of cash to fund potential mergers or acquisitions. In the event that additional financing is required from outside sources, we may seek to raise additional funds through equity, equity-linked arrangements, and debt. If we are unable to raise additional capital when desired and at reasonable rates, our business, results of operations, and financial condition could be adversely affected. Oberland Capital note purchase agreement We have a debt facility with availability of up to $140.0 million, issuable in four separate tranches, pursuant to a Note Purchase Agreement, dated as of August 2, 2024, by and among us, the purchasers party thereto, and BWCB SA LLC (an entity affiliated with Oberland Capital), as purchaser’s agent. The advanced principal accrues interest at a rate of 8.0% per annum. The first tranche of $50.0 million was advanced on August 5, 2024, with a maturity date of August 5, 2031, interest-only payments through August 5, 2031 and a lump sum payment due on August 5, 2031. The term loan advances are secured by a lien