Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 372

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 372
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   2024 |   |
|:-------------------------------------|:----|:--|--------:|:--|:----|:--|-------:|:--|
| Tax at the federal statutory rate    |     | $ | (17,250 | ) |     | $ | (8,725 | ) |
| Other nondeductible items            |     |   |     550 |   |     |   |    792 |   |
| Stock-based compensation             |     |   |     832 |   |     |   |  1,359 |   |
| Research and development credits     |     |   |    (796 | ) |     |   |   (994 | ) |
| Change in valuation allowance        |     |   |  16,058 |   |     |   | 10,119 |   |
| State taxes, net of federal benefits |     |   |  (2,113 | ) |     |   | (1,443 | ) |
| Debt extinguishment gain or loss     |     |   |       - |   |     |   | (1,814 | ) |
| Change in fair value of term loan    |     |   |   2,749 |   |     |   |    689 |   |
| Other                                |     |   |     (21 | ) |     |   |     46 |   |
| Total provision for income taxes     |     | $ |       9 |   |     | $ |     29 |   |

The Company’s actual tax expense differed from the statutory federal income tax expense using a tax rate of 21% for the years ended December 31, 2023 and 2024 primarily due to state income taxes, nondeductible expenses, research and development tax credits, change in fair value of term loan, and the change in valuation allowance. As of December 31, 2023 and 2024, the Company had a net operating loss carryforwards of $148.7 million and $154.9 million for federal purposes, and $73.8 million and $78.6 million for state and city purposes, respectively. If not utilized, these carryforwards will begin to expire in 2036 for federal, and 2026 for state and city purposes. Federal net operating losses incurred in 2018 and in future years may be carried forward indefinitely, but the deductibility of such federal net operating