bioAffinity Technologies, Inc.

Listed Company

BIAFWCIK 0001712762NasdaqEmerging GrowthServices-Commercial Physical & Biological ResearchDelawareFY ends Dec 31

Period

FY 2025

Revenue

$6.16M

Net Income

$-14.91M

Total Assets

$10.96M

Equity

$7.28M

Shares Out

4.50M

Op. Cash Flow

$-9.33M

Business

bioAffinity Technologies, Inc. develops proprietary noninvasive diagnostics to detect early-stage lung cancer and other lung diseases using flow cytometry combined with automated, machine-learning analysis. Its main product is CyPath® Lung, a sputum-based test that uses TCPP labeling and antibody markers with automated AI analysis, supported by clinical laboratory services and related test kit distribution. Key business segments include diagnostic testing and laboratory services (operated through Precision Pathology Laboratory Services, LLC) and a therapeutic discovery subsidiary, OncoSelect®. The company markets CyPath® Lung to physicians and clinical laboratories, distributes patient collection kits through partners, and provides tests to government health systems including the Department of Defense and VA channels.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net Revenue	6	9	3	4,803	—
Direct costs and expenses	4	6	2	467	—
Research and development	1	1	1	1	1
Clinical development	705,744	321,655	256,661	145,546	130,475
Selling, general and administrative	10	10	7	2	1
Depreciation and amortization	504,836	605,637	249,592	10,182	—
Total operating expenses	17	18	11	4	2
Loss from operations	−11	−9	−8	−4	−2
Interest income	23,385	17,610	122,131	46,708	424
Interest expense	−44,372	−92,475	−37,125	—	—
Other income	40,490	10,323	3,325	—	—
Other expense	−502,429	−10,194	−31,121	—	—
Change in fair value of warrants issued	−4	—	—	—	—
Loss before income tax expense	−15	−9	−8	−8	−6
Income tax expense	−44,042	−11,650	−20,993	−2,459	−1,950
Net loss	−15	−9	−8	−8	−6
Net loss per common share, basic	−8.66	−22.5	−0.91	−1.81	−2.36
Net loss per common share, diluted	−8.66	−22.5	−0.91	−1.81	—
Weighted average common shares outstanding, basic	2	404,167	9	4	3
Weighted average common shares outstanding, diluted	2	404,167	9	4	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-05-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	6	—	1	3	11
Accounts and other receivables, net	541,962	—	1	811,674	10,489
Inventory	53,548	—	27,608	18,484	5,540
Prepaid expenses and other current assets	519,916	—	422,995	321,017	531,899
Total current assets	8	—	3	4	12
Property and equipment, net	265,593	—	375,385	458,633	214,438
Operating lease right-of-use asset, net	334,289	—	463,011	370,312	—
Finance lease right-of-use asset, net	661,575	—	780,872	1	—
Goodwill	1	—	1	1	—
Intangible assets, net	716,806	—	775,139	833,472	—
Other assets	12,815	—	19,676	16,060	6,000
Total assets	11	—	7	8	12
Accounts payable	761,901	—	987,311	604,789	345,042
Accrued expenses	2	—	1	1	541,894
Unearned revenue	42,405	—	24,404	33,058	—
Operating lease liability, current portion	139,220	—	127,498	94,708	—
Finance lease liability, current portion	139,490	—	395,301	365,463	—
Notes payable, current portion	105,161	—	171,669	—	—
Total current liabilities	3	—	3	2	1
Operating lease liability, net of current portion	202,878	—	342,098	283,001	—
Finance lease liability, net of current portion	532,759	—	444,448	835,467	—
Notes payable, net of current portion	41,313	—	20,180	—	—
Total liabilities	4	—	4	3	1
Commitments and contingencies (Note 11)	—	—	—	—	—
Preferred stock, $0.001 per share; 20,000,000 shares authorized; 700 and 0 shares issued and outstanding at December 31, 2025 and 2024, respectively	1	—	—	—	—
Common Stock, par value $0.007 per share; 350,000,000 shares authorized; 4,498,675 and 519,158 issued and outstanding at December 31, 2025 and 2024, respectively()	31,461	6	3,553	65,762	58,669
Additional paid-in capital(1)	76	—	56	49	48
Accumulated deficit	−69	—	−54	−45	−37
Total stockholders equity	7	—	3	5	11
Total liabilities and stockholders equity	11	—	7	8	12

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	671,474	989,681	748,823	248,592	43,012
Fair value adjustment on warrants	4	—	—	—	—
Accounts and other receivables	597,242	−327,530	311,366	−8,959	—
Inventory	−25,940	−9,124	−12,944	−5,540	—
Prepaid expenses and other assets	−90,060	−105,594	214,402	−492,753	−34,990
Accounts payable	−225,410	382,521	−14,501	114,635	39,020
Accrued expenses	319,267	248,911	362,012	66,335	107,744
Unearned revenue	18,001	−8,654	33,058	—	—
Operating lease right-of-use asset	1,224	−812	7,397	—	—
Net cash used in operating activities	−9	−7	−6	−4	−2
Purchase of property and equipment	−60,568	−79,083	−22,902	−219,987	—
Net cash used in investing activities	−60,568	−79,083	−2	−219,987	—
Proceeds from issuance of Common Stock from direct offering	11	6	—	6	—
Proceeds from exercised stock options	—	74,899	—	74,900	—
Proceeds from exercise of warrants	5	1	—	8	—
Proceeds from issuance of Convertible Preferred Stock	990,000	—	—	—	—
Payment of offering costs for financing activities	−2	−1	—	—	—
(Payments) proceeds from loans payable	−45,375	191,849	−251,746	555,148	—
Principal repayments on finance leases	−324,346	−361,181	−93,238	—	—
Net cash provided by financing activities	15	6	−344,984	14	3
Net change in cash and cash equivalents	5	−2	−9	10	1
Income taxes paid in cash	44,042	11,650	37,125	2,459	—
Interest paid	23,385	17,610	20,993	30,637	1,950
Fair value of warrants issued to placement agents	—	74,281	1	—	—

Filings

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