Company: BLLN
Filing Date: 2025-12-10
Form Type: 10-Q
Source: 0001628280-25-056321
Chunk: 506

Company: BillionToOne, Inc.
Filing Date: 2025-12-10
Form: 10-Q
Item: Part I, Item 2
Chunk 506
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 and oncology testing. 

Operating expenses

Research and Development expenses

Research and development expenses increased $3.4 million, or 36%, for the three months ended September 30, 2025 compared to the three months ended September 30, 2024. The increase was primarily due to a $2.3 million increase in personnel costs which includes $0.4 million in stock-based compensation expense, a $0.9 million increase in materials, equipment expenses and overhead allocations, and a $0.2 million increase in clinical studies expense. The increase in research and development expenses was primarily driven by an increase in average research and development headcount of 34 employees during the periods presented to support our product development and innovation efforts.

Selling, general and administrative expenses

Selling, general and administrative expenses increased $12.5 million, or 54%, for the three months ended September 30, 2025 compared to the three months ended September 30, 2024. The increase was primarily due to a $10.3 million increase in salaries, commissions and related expenditure which includes $1.8 million in stock-based compensation expense, a $1.3 million increase in facilities and other costs, and a $0.9 million increase in professional and consulting fees. The increase in selling, general and administrative expenses was driven by an increase in average selling, general and administrative headcount of 118 employees during the periods presented to support our sales, marketing and other corporate strategies.

Interest income

Interest income decreased by $0.4 million, or 21%, for the three months ended September 30, 2025 compared to the three months ended September 30, 2024. The decrease was primarily driven by lower interest rates.

4 Overall Cost Per Test is the weighted average cost per test across all of our prenatal and oncology products. It is computed by dividing cost of goods sold for our prenatal and oncology tests by the number of tests that are accessioned.

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Interest expense

Interest expense decreased $0.4 million, or 95%, for the three months ended September 30, 2025 compared to the three months ended September 30, 2024. The decrease is attributable to the payoff of the Western Alliance Bank debt; the principal on this debt was no longer outstanding during 2025.

Net (loss) gain on extinguishment of debt

Net (loss) gain on extinguishment of debt was $1.3 million for the three months ended September 30