BillionToOne (NasdaqGS:BLLN) FY Conference January 12, 2026 12:45 PM ET Company ParticipantsCasey Woodring - VP of Equity ResearchOguzhan Atay - Co-Founder, CEO and Board ChairRoss Taylor - CFOCasey WoodringAll right, great. Welcome, everybody, to the JPMorgan Healthcare Conference. I'm Casey Woodring from the Life Science Tools and Diagnostics team, pleased to be joined by the management team at BillionToOne. We're going to do the standard 40-minute slot, corporate presentation, Q&A afterwards. Not much mo ...

JPM Healthcare Conference 2026 Redefining Molecular Diagnostics with Single-Molecule Precision 2 Disclaimer & Forward Looking Statement 2025 Q3 Business Update This presentation contains certain "forward-looking statementsˮ within the meaning of applicable securities laws. These statements relate to future events and results of BillionToOne, Inc. (the "Company,ˮ "we,ˮ "us,ˮ or "ourˮ) and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, p ...

MENLO PARK, Calif., Jan. 12, 2026 (GLOBE NEWSWIRE) -- BillionToOne, Inc. (NASDAQ: BLLN), a next-generation molecular diagnostics company with a mission to create powerful and accurate tests that are accessible to all, today reiterated the full year 2025 guidance of $293 million to $299 million with positive GAAP operating income and initiated the full year 2026 guidance. Full Year 2026 Guidance Full year 2026 total revenue of $415 million to $430 million, representing growth of 40% to 45% compared to the mi ...

Core Viewpoint - BillionToOne, Inc. is set to participate in the 44th Annual J.P. Morgan Healthcare Conference, highlighting its commitment to advancing molecular diagnostics [1] Company Overview - BillionToOne is headquartered in Menlo Park, California, and focuses on creating accessible and accurate molecular diagnostic tests [3] - The company utilizes a patented technology called Quantitative Counting Templates™ (QCT™), which is the only multiplex technology capable of counting DNA molecules at the single-molecule level [3]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 10-Q ___________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission file number 001-42934 ________________ ...

Financial Data and Key Metrics Changes - Total revenue in Q3 2025 was $83.5 million, representing a 117% increase compared to $38.4 million in Q3 2024 [20][25] - Gross margin reached 70% in Q3 2025, a 17 percentage point increase from 53% in Q3 2024 [19][23] - Operating income was $9.6 million in Q3 2025, compared to an operating loss of $12.6 million in Q3 2024, marking the first quarter of positive GAAP operating income [24][25] Business Line Data and Key Metrics Changes - Prenatal revenues were $74.1 million in Q3 2025, growing over 100% year-over-year [21][25] - Oncology revenues increased 7.6 times to $8.7 million in Q3 2025 compared to the same period last year [21][25] - Test volume grew 51% year-over-year to 163,000 tests in Q3 2025 [13][29] Market Data and Key Metrics Changes - The company reported a 51% test growth and 117% revenue growth year-over-year in Q3 2025 [9][10] - The annualized revenue run rate (ARR) reached $334 million in Q3 2025, a $69 million increase sequentially compared to Q2 2025 [16][20] - The company has approximately 235 million contracted lives for payer coverage [17] Company Strategy and Development Direction - The long-term goal is to build a category-defining generational company and become a member of the S&P 500 [9] - The company is focusing on expanding its sales team and investing in electronic medical records (EMR) to enhance adoption in health systems [15][30] - The company aims to maintain capital and operational efficiency while achieving emerging profitability [8][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to positively change the trajectory of millions of patients' lives [30] - The company anticipates continued growth momentum despite Q4 being historically a slower quarter [27] - Management highlighted the importance of their unique technology and differentiated products in driving growth [7][10] Other Important Information - The company completed a successful IPO on NASDAQ, raising $314 million in gross proceeds [5] - The company has established an exclusive agreement with Johnson & Johnson for hemolytic disease of fetus and newborn [11] - The company expects total revenue for 2025 to be between $293 million and $299 million, representing a growth of 92% to 96% compared to 2024 [26][27] Q&A Session Summary Question: Plans for positive GAAP net income in 2026 - Management aims to continue growing the company profitably, with specific guidance for 2026 to be provided at a later date [32][33] Question: Timing for Medicare coverage for oncology tests - Management expects the first Medicare coverage for Northstar Response to come before the end of 2026 [34][35] Question: Guidance process and conservatism in forecasts - Management has been operating close to a public company for the last few years and has been conservative in projections [40][41] Question: Impact of EMR investment on business - Management believes EMR integration will significantly accelerate adoption in large health systems [49][51] Question: Clinical spending compared to competitors - Management recognizes the importance of investing in clinical studies but aims to focus on studies that answer specific physician questions [55][56] Question: Mix between monitoring and therapy selection tests - Management indicated a two-to-one ratio for Response tests to Select tests, with most providers using both together [61] Question: Sales force expansion expectations - Management plans to add eight to ten net reps for prenatal and four to six for oncology each quarter [66][67] Question: Contribution of Medicaid coverage to ASP growth - Management noted that incorporating the PLA code into Medicaid coverage can significantly impact ASPs over time [70] Question: Future gross margin expectations - Management expects to maintain gross margins in the high 60s% for the next several quarters [75][78] Question: Timelines for MRD data and indications - Management expects to launch MRD for a pan-cancer indication towards the end of 2026 [88]

BillionToOne (NasdaqGS:BLLN) Q3 2025 Earnings Call December 09, 2025 04:30 PM ET Company ParticipantsRoss Taylor - CFOCasey Woodring - Vice President of Equity ResearchOguzhan Atay - Co-founder, CEO, and Board ChairDavid Deichler - Head of Investor RelationsConference Call ParticipantsTycho Peterson - Managing Director and Senior Equity AnalystMark Massaro - Managing Director and Senior Equity Research AnalystDavid Westenberg - Managing Director and Senior Research AnalystBrandon Couillard - Managing Direct ...

Financial Data and Key Metrics Changes - Total revenue in Q3 2025 was $83.5 million, representing a 117% increase compared to $38 million in Q3 2024 [19][20] - Gross margins reached 70%, a 17 percentage point increase from 53% in Q3 2024 [18][20] - The company achieved positive GAAP operating margin of 11.5% in Q3 2025, marking the first quarter of positive GAAP operating income [22][23] Business Line Data and Key Metrics Changes - Prenatal revenues were $74.1 million, growing over 100% year-over-year, while oncology revenues increased 664% to $8.7 million [15][19] - Total test volume grew 51% year-over-year to 163,000 tests in Q3 2025 [12] - Average selling prices (ASVs) increased by 44% year-over-year to $501 in Q4 2025 [16] Market Data and Key Metrics Changes - The company has approximately 235 million contracted lives, indicating expanded payer coverage [16] - The oncology business is growing faster than the prenatal business, contributing significantly to revenue growth [15] Company Strategy and Development Direction - The long-term goal is to build a category-defining generational company and become a member of the S&P 500 [8] - The company plans to invest more heavily in electronic medical records (EMR) to facilitate adoption in large health systems [13][35] - The focus is on maintaining capital and operational efficiency while achieving profitability [7][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth and profitability, with expectations for positive GAAP operating income in Q4 and for the full year of 2025 [26] - The company anticipates a total revenue of $293 million to $299 million for 2025, representing a growth of 92% to 96% compared to 2024 [24][25] - Management noted that competitive product launches have not impacted business growth so far [12][50] Other Important Information - The company completed a successful IPO, raising $314 million in gross proceeds [4] - Recent publications validate the clinical utility of the company's products, enhancing credibility in the market [10][11] Q&A Session Summary Question: Future GAAP net income expectations - Management aims to continue growing profitably and expects to maintain positive GAAP net income in 2026 [28][29] Question: Timing for oncology test reimbursements - The first Medicare coverage for Northstar Response is expected before the end of 2026 [30] Question: Guidance process as a public company - The company has been operating close to a public company for the last few years and has been conservative in its projections [31][32] Question: Impact of EMR investment - Investing in EMR is expected to significantly accelerate adoption in large health systems [34][35] Question: Clinical spending compared to competitors - Management recognizes the importance of investing in clinical studies but aims to focus on studies that address specific physician needs [38] Question: Mix between monitoring and therapy selection tests - The company sees a two-to-one ratio for Response tests to Select tests, with most providers using both together [41] Question: Sales force expansion plans - The company plans to add 8 to 10 net reps per quarter for prenatal and 4 to 6 for oncology [42][43] Question: Contribution of Medicaid coverage to ASP growth - The integration of Medicaid coverage for the Unity Carrier panel is expected to have a significant long-term impact on ASPs [44] Question: Future gross margin expectations - Management expects to maintain gross margins in the high 60s% for the next several quarters [46][47] Question: MRD timelines and competitive landscape - The company plans to launch MRD tests towards the end of 2026, focusing on tumor-naive MRD [49][50]

2025 Q3 Business Update December 9, 2025 Disclaimer & Forward Looking Statement 2025 Q3 Business Update This presentation contains certain "forward-looking statementsˮ within the meaning of applicable securities laws. These statements relate to future events and results of BillionToOne, Inc. (the "Company,ˮ "we,ˮ "us,ˮ or "ourˮ) and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industr ...

Revenue Growth - Total revenue for Q3 2025 was $83.5 million, a 117% increase from $38.4 million in Q3 2024[5] - Prenatal clinical testing revenue reached $74.1 million, up 102% year-over-year, while oncology clinical testing revenue surged to $8.7 million, a 664% increase compared to $1.1 million in the same period last year[5] - The company expects full-year 2025 revenue to be between $293 million and $299 million, representing a growth of 92% to 96% compared to 2024[12] - Fourth quarter 2025 revenue is projected to be between $84 million and $90 million, indicating an 86% to 100% growth compared to Q4 2024[12] Profitability - Gross margin improved to 70% in Q3 2025, up from 53% in Q3 2024, reflecting a 17 percentage-point increase year-over-year[5] - Operating income was $9.6 million in Q3 2025, a significant turnaround from an operating loss of $12.6 million in Q3 2024[10] - Net income available to common shareholders for Q3 2025 was $1.5 million, or $0.10 per diluted share, compared to a net loss of $14.9 million, or ($1.47) per diluted share, in Q3 2024[10] - Positive cash flow of $6.2 million was reported in Q3 2025[5] Asset and Liability Management - Total assets increased to $327,521 million as of September 30, 2025, up from $302,059 million on December 31, 2024, representing an increase of 8.5%[19] - Total current assets rose to $251,716 million, compared to $227,817 million at the end of 2024, marking an increase of 10.5%[19] - Total liabilities increased to $147,625 million from $134,306 million, reflecting a rise of 9.9%[19] - Cash and cash equivalents grew to $195,152 million, up from $191,477 million, indicating a 3.5% increase[19] - Accounts receivable surged to $34,646 million, a significant increase from $24,709 million, representing a growth of 40.2%[19] - Inventories increased to $17,389 million, compared to $8,733 million, showing a substantial rise of 99.0%[19] - Long-term debt rose to $54,986 million, up from $51,481 million, which is an increase of 10.0%[19] Stockholder Equity - Total stockholders' deficit improved to $(239,513) million from $(251,656) million, indicating a reduction of 4.8%[19] - Additional paid-in capital increased to $41,211 million from $30,545 million, reflecting a growth of 35.0%[19] - Accumulated deficit slightly improved to $(280,724) million from $(282,201) million, showing a minor reduction of 0.5%[19] Testing Volume - Total tests accessioned in Q3 2025 were 162,900, a 51% increase from 107,900 tests in Q3 2024[7] IPO and Funding - The company raised gross proceeds of $314.0 million from its initial public offering[11]