Company: BLLN
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0000950123-25-007483
Chunk: 148

Company: BillionToOne, Inc.
Filing Date: 2025-08-11
Form: DRS/A
Chunk 148
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          |
| Gross profit |     | $                     | 17,308 |     | $ | 80,915 |     | $ |   63,607 |     |     | 368%     |
| Gross margin |     |                       |    24% |     |   |    53% |     |   |          |     |     |          |

Gross profit increased $63.6 million, or 368%, for the year ended December 31, 2024 compared to the year ended December 31, 2023. The increase was primarily due to an increase in tests processed a higher ASP and lower costs per test. Gross margin increased from 24% for the year ended December 31, 2023 to 53% for the year ended December 31, 2024 for the reasons described above. The increase in our Overall ASP contributed to approximately 80% of the improvement in our gross profit margin in 2024. In addition, as part of our long term strategy we are focused on reducing costs per test for each of our offerings, which if successful will result in a reduction in our Overall Cost Per Test. A decrease in our Overall Cost Per Test contributed to approximately 20% of the improvement in our gross profit margin in 2024. In 2024 approximately 54% of the company’s cost of goods sold consisted of variable costs and the remainder was fixed costs; during the year approximately 57% of the improvement in our Overall Cost Per Test was the result of improvements in variable costs. We anticipate that cost initiatives and leveraging fixed costs should continue to reduce our costs per test. Operating expenses Research and development expenses

|                                   |     | Year ended            
 December 31,          |   2023 |     |   |   2024 |     |   | $ Change |     |     | % Change |
|:----------------------------------|:----|:----------------------|-------:|:----|:--|-------:|:----|:--|---------:|:----|:----|:---------|
|                                   |     | -dollars in thousands |        |     |   |        |     |   |          |     |     |          |
| Research and development expenses |     | $                     | 22,414 |     | $ | 36,596 |     | $ |   14,182 |     |     | 63%      |

Research and development expenses increased $14.2 million