Company: BLLN
Filing Date: 2025-08-11
Form Type: DRS/A
Source: 0000950123-25-007483
Chunk: 15

Company: BillionToOne, Inc.
Filing Date: 2025-08-11
Form: DRS/A
Chunk 15
---
 inception, including a net loss of $41.6 million for the year ended December 31, 2024, and had an accumulated deficit of $282.2 million as of December 31, 2024, our business model has demonstrated improving operational leverage, which we believe will enable us to reach, on a non-GAAPincome from operations basis, positive operating income after adjusting for stock based compensation expense for the six months ended June 30, 2025. During this period, we generated revenue of , with a gross margin of and a net income of , representing year-over-year revenue growth. This translates to a net income improvement of approximately , from a net loss of in the six months ended June 30, 2024 to a net income of in the same period in 2025. Backed by our commitment to continued innovation and high-quality execution, we aim to lead the next wave of advancements in precision diagnostics, delivering profound benefits to patients, providers, and the broader healthcare system. Our four pillars of differentiation AtBillionToOne, we are building a different type of molecular diagnostics company, backed by our four pillars of differentiation described below. We believe these competitive advantages are difficult for others to replicate and uniquely position us to redefine the industry. Our breakthrough technology platform.Our revolutionary platform achieves absolute quantification at the single molecule level, enabling us to: (i) accurately quantify genetic targets by eliminating biases introduced from next-generation sequencing (NGS) 5; (ii) precisely measure and analyze intermediate biochemical reactions to optimize the performance of our assays; and (iii) reduce sequencing costs by obtaining a higher quality signal at each genomic location analyzed. 6Moreover, we believe our design-based R&D approach allows us to harness this technology and accurately predict the clinical performance of a novel assay before testing a single patient sample, which we believe accelerates time-to-marketand significantly improves our commercial launch success rate. 7Collectively, these platform capabilities enable us to build better products while we simultaneously decrease costs.

| 5 |     | PCR amplification during library preparation for NGS introduces significant biases, including primer binding bias, mis-priming, non-specific binding, and amplification errors. When this inefficiency is amplified 
 exponentially over several cycles, it leads to notable inaccuracies in sequencing results. Our QCTs act as a control when we conduct amplification and allow us to identify and remove the biases.                  |

| 6 |     | The cost of NGS scales with the total number of reads required per