Company: BLLN
Filing Date: 2025-09-17
Form Type: DRS/A
Source: 0001193125-25-206347
Chunk: 36

Company: BillionToOne, Inc.
Filing Date: 2025-09-17
Form: DRS/A
Chunk 36
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 we are of the opinion that non-GAAPoperating loss and non-GAAPnet loss provide meaningful supplemental information regarding our performance. However, there are a number of limitations related to the use of non-GAAP financialmeasures, and these non-GAAP measuresshould be considered in addition to, not as a substitute for or in isolation from, our financial results prepared in accordance with GAAP. Other companies, including companies in our industry, may calculate these non-GAAP financialmeasures differently or not at all, which reduces their usefulness as comparative measures.

18

The following table summarizes our non-GAAPfinancial measures for each period presented below. See the section titled “Management’s discussion and analysis of financial condition and results of operations—Non-GAAPfinancial measures” for additional information and reconciliations of our non-GAAPfinancial measures to the most directly comparable financial measures prepared in accordance with GAAP.

| (in thousands)                         |     | Year ended December 31, 
 2023                    |         |   |     | 2024 |         |   |     | Six months ended June 30, 
 2024                      |         |   |     | 2025 |        |   |
|:---------------------------------------|:----|:------------------------|:--------|:--|:----|:-----|:--------|:--|:----|:--------------------------|:--------|:--|:----|:-----|-------:|:--|
| Non-GAAP income (loss) from operations |     | $                       | (64,641 | ) |     | $    | (38,784 | ) |     | $                         | (18,915 | ) |     | $    |  1,164 |   |
| Non-GAAP net income (loss)             |     |                         | (64,908 | ) |     |      | (29,236 | ) |     |                           | (19,084 | ) |     |      |  3,974 |   |
| EBITDA                                 |     |                         | (76,984 | ) |     |      | (37,934 | ) |     |                           | (12,031 | ) |     |      | (3,465 | ) |
| Adjusted EBITDA                        |     |                         | (59,209 | ) |     |      | (32,889 | ) |     |                           | (15,926 | ) |     |