Slide 1: Q1 2026 Business Update
Q1 2026 Business Update May 6, 2026
Slide 2: Disclaimer & Forward Looking Statement
Disclaimer & Forward Looking Statement This presentation contains certain “forward-looking statementsˮ within the meaning of applicable Though we have attempted to identify important factors that could cause actual results to differ materially securities laws. These statements relate to future event
Slide 3: Our 4 Pillars of Differentiation
3 Our 4 Pillars of Differentiation CONFIDENTIAL & PROPRIETARY Revolutionary smNGS Scalable Superior Gross GAAP Platform & Products Rapid Growth Margin Profile Profitability Patented QCT™ technology Exponential growth 70%+ gross margin Culture of fiscal discipline enabling single-molecule even as we
Slide 4: Summary of Q1 Achievements
4 Summary of Q1 Achievements CONFIDENTIAL & PROPRIETARY Revolutionary smNGS Scalable Superior Gross GAAP Platform & Products Rapid Growth Margin Profile Profitability • Unity Confirm™ launch • Consistent test growth to • In-network with Anthem, • Achieved 16% GAAP 188K at 44% YoY* bringing contracte
Slide 5: Revolutionary smNGS Platform & Products
Revolutionary smNGS Platform & Products
Slide 6: Unity Confirm launch: the innovation of the decade in prenatal genetics
“Holy Grail” of non-invasive prenatal testing: captures and sequences intact circulating fetal cells, providing 100% fetal fraction Launched at ACOG ACSM 2026 Unity Confirm™ Launched as a specialized offering, a follow-up on high-risk pregnancies identified on UNITY Aneuploidy Screen The With a high-r
Slide 7: Scalable Rapid Growth
Scalable Rapid Growth
Slide 8: Total test volume is rapidly increasing with 44% YoY growth
8 Pillar 2 — Scalable Rapid Growth Our total test Test Volume Delivered Quarterly volume* is rapidly increasing with 188K 44% 44% YOY** growth. • Continued strong QoQ growth across both prenatal & oncology. • Prenatal test volumes grew 10% QoQ while oncology grew 25% QoQ. • 60% of Northstar Sele
Slide 9: Exponential revenue growth: zero to $434M ARR
9 Pillar 2 — Scalable Rapid Growth Exponential Total GAAP Revenue Quarterly revenue growth: $108.4M zero to $434M* 84% ARR in ~6 years. • 84% YoY revenue growth driven by rapid YoY increases both in tests delivered 44%) and ASP 28%) across both product lines. * Q1 2026 revenue of $108.4M annualiz
Slide 10: Prenatal and Oncology GAAP Revenue Quarterly
10 Pillar 2 — Scalable Rapid Growth CONFIDENTIAL & PROPRIETARY Prenatal GAAP Revenue Quarterly Oncology GAAP Revenue Quarterly $97.7M* $10.7M 72% 392% * Includes revenue associated with clinical trial services Percentage growth rates represent growth from Q1 2025 to Q1 2026
Slide 11: Superior Gross Margin Profile
Superior Gross Margin Profile
Slide 12: BillionToOne is in-network with Anthem
12 Pillar 3 — Superior Gross Margin Profile CONFIDENTIAL & PROPRIETARY BillionToOne is in-network In-Network with Anthem. Bringing us to 300M Anthem contracted lives in the US (90%+ of patients).
Slide 13: Our overall ASP continues to grow
13 Pillar 3 — Superior Gross Margin Profile Our overall ASP Overall ASP* continues to grow. $571 Overall ASP increased 28% YoY** to $571, another $10 per test QoQ increase, despite resetting of co-insurances and deductibles at the beginning of the year. * Overall ASP is the weighted average ASP acro
Slide 14: Overall COGS per test was $153 in Q1
14 Pillar 3 — Superior Gross Margin Profile Overall COGS Overall COGS Per Test* Quarterly per test was $153 in Q1. ● The overall COGSPer-Test was lower by 5% 1% $153 QoQ and only 1% higher YoY**. $127 ● This was a significant achievement given (i) the faster growth of our oncology tests, which hav
Slide 15: 73% gross margin with continuing expansion
15 Pillar 3 — Superior Gross Margin Profile 73% gross Gross Margin Quarterly margin* with $571 continuing $561 Overall ASP $501 expansion. $384 $445 $455 73% Gross 71% Margin $348 70% • GM continued to increase, despite 65% 64% increasing volume from oncology, which currently has lower margins 57% (
Slide 16: GAAP Profitability
GAAP Profitability
Slide 17: Q1 2026 Earnings Summary
17 Q1 2026 Earnings Summary CONFIDENTIAL & PROPRIETARY Q1 2026 performance: 84% YoY* growth with 24% Adj. EBITDA margin Actual Actual Actual YoY QoQ Q1 2025 Q4 2025 Q1 2026 Growth Growth Commentary Total Tests Delivered 130,792 169,902 187,823 44% 11% Overall ASP Per Test $445 $561 $571 28% 2% Reven
Slide 18: Raising our 2026 guidance by another $20M
18 Guidance CONFIDENTIAL & PROPRIETARY We are achieving profitability while growing exponentially, and we are raising our 2026 guidance by another $20M. Projections vs Actuals Historical Guidance Previous vs Current $450M $465M $430M$445M Mar 2026 Guidance 85% CAGR Jan 2026 Guidance $305M $153M
Slide 19: Summary: transforming healthcare one molecule at a time
19 Summary We are transforming healthcare: one molecule at a time, one patient at a time. Launch of Unity Confirm™ Strong gross margin profile LONG-TERM GOAL Response coverage & MRD with 73% GM, with continued ASP increases launch on track To build a category-defining 84% YoY* revenue growth Increas
Slide 20: Thank You
BILLION TOle Thank You 7 May 6, 2026 / ve VE
Slide 21: EBITDA Reconciliation
21 Appendix CONFIDENTIAL & PROPRIETARY EBITDA Reconciliation Q1 2025 Q4 2025 Q1 2026 Net Income Loss $4.0M $6.0M $18.0M Provision for Income Taxes $0.1M $0.3M $0.5M Interest Income $1.5M $3.3M $4.6M Interest Expense $0.0M $0.0M $0.0M Depreciation and Amortization $1.8M $1.7M $1.7M EBITDA
Slide 22: Adjusted EBITDA Reconciliation
22 Appendix CONFIDENTIAL & PROPRIETARY Adjusted EBITDA Reconciliation Q1 2025 Q4 2025 Q1 2026 Net Income Loss $4.0M $6.0M $18.0M Provision for Income Taxes $0.1M $0.3M $0.5M Interest Income $1.5M $3.3M $4.6M Interest Expense $0.0M $0.0M $0.0M Depreciation and Amortization $1.8M $1.7M $1.