BIAF

MKT CAP:$10M

bioAffinity Technologies, Inc.

Market Cap

$10M

Healthcare·Medical - Diagnostics & Research·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$2.51+$1.29 (+105.74%)

Apr 22, 2026

Company Details

bioAffinity Technologies, Inc., a biotechnology company, engages in developing non-invasive diagnostic tests and targeted cancer therapeutics. The company offers CyPath lung, a diagnostic test, for early detection of lung cancer. It also re...

CEO

Maria Zannes

IPO Date

Sep 1, 2022

Website

www.bioaffinitytech.com

Key Metrics TTM

Revenue

$6M

-34.2% YoY

Net Income

-$15M

EPS (Diluted)

-$16.43

Free Cash Flow

-$9M

Revenue / Share

$3.58

Gross Margin

23.2%

Operating Margin

-171.6%

Net Margin

-242.0%

FCF Margin

-151.4%

P/S

1.6x

P/E

—

Earnings Reports

FY 2025

Mar 13, 2026

$6M-34.2%EPS -$8.66

Q4 2025

Mar 13, 2026

$2M-27.8%EPS -$1.82

Q3 2025

Nov 14, 2025

$1M-38.5%EPS -$4.74

Q2 2025

Aug 14, 2025

$1M-47.1%EPS -$5.07

Q1 2025

May 15, 2025

$2M-23.0%EPS -$4.80

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	-$1.0K	-$727.0K
Q2 22	$1.3K	$1.2K	-$684.1K
Q3 22	$1.1K	$1.0K	-$976.2K
Q4 22	$2.3K	$2.2K	-$2M
Q1 23	$921	$834	-$2M
Q2 23	$19.7K	$18.5K	-$2M
Q3 23	$298.5K	$223.8K	-$2M
Q4 23	$2M	$399.7K	-$2M
Q1 24	$2M	$833.0K	-$2M
Q2 24	$2M	$989.9K	-$2M
Q3 24	$2M	$910.2K	-$2M
Q4 24	$2M	$491.8K	-$3M
Q1 25	$2M	$485.7K	-$3M
Q2 25	$1M	$252.9K	-$3M
Q3 25	$1M	$390.5K	-$2M
Q4 25	$2M	$301.2K	-$3M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	14775.1x	—
Q3 22	8565.6x	—
Q4 22	2880.3x	—
Q1 23	2441.7x	—
Q2 23	680.5x	—
Q3 23	40.8x	—
Q4 23	6.1x	—
Q1 24	4.8x	—
Q2 24	3.8x	—
Q3 24	2.8x	—
Q4 24	1.2x	—
Q1 25	0.7x	—
Q2 25	0.9x	—
Q3 25	0.4x	—
Q4 25	0.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$689.6K	-$689.6K
Q2 22	-$376.1K	-$376.1K
Q3 22	-$2M	-$2M
Q4 22	-$1M	-$2M
Q1 23	-$2M	-$2M
Q2 23	-$1M	-$1M
Q3 23	-$2M	-$2M
Q4 23	-$2M	-$2M
Q1 24	-$2M	-$2M
Q2 24	-$2M	-$2M
Q3 24	-$2M	-$2M
Q4 24	-$2M	-$2M
Q1 25	-$2M	-$2M
Q2 25	-$3M	-$3M
Q3 25	-$2M	-$2M
Q4 25	-$3M	-$2M

Capital Expenditures

Quarter	CapEx
Q1 22	$2
Q2 22	$1
Q3 22	$0
Q4 22	$220.0K
Q1 23	$32.3K
Q2 23	$3.9K
Q3 23	$169
Q4 23	$13.4K
Q1 24	$41.4K
Q2 24	$28.3K
Q3 24	$9.4K
Q4 24	$1
Q1 25	$50.8K
Q2 25	$13.4K
Q3 25	$3.6K
Q4 25	$60.6K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+48.0%
Q2 22	—	+29.4%
Q3 22	—	+85.7%
Q4 22	—	+146.5%
Q1 23	—	+114.4%
Q2 23	+1411.3%	+162.3%
Q3 23	+25855.1%	+165.3%
Q4 23	+94246.0%	+180.2%
Q1 24	+261180.2%	+179.1%
Q2 24	+12047.4%	+149.5%
Q3 24	+687.4%	+66.8%
Q4 24	-0.3%	+13.1%
Q1 25	-23.0%	+3.0%
Q2 25	-47.1%	-15.6%
Q3 25	-38.5%	-13.5%
Q4 25	-27.8%	-8.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	—
Q2 22	$0	0.0%
Q3 22	$79.0K	6870.7%
Q4 22	$36.8K	1570.6%
Q1 23	$157.6K	17113.2%
Q2 23	$170.3K	862.6%
Q3 23	$186.4K	62.5%
Q4 23	$234.5K	10.6%
Q1 24	$283.7K	11.8%
Q2 24	$287.3K	12.0%
Q3 24	$471.9K	20.1%
Q4 24	$234.1K	10.6%
Q1 25	$326.6K	17.6%
Q2 25	$211.6K	16.7%
Q3 25	$67.1K	4.6%
Q4 25	-$605.4K	-38.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 22	$374.5K	—	$351.5K
Q2 22	$276.7K	$408.6K	—
Q3 22	$380.7K	$596.5K	—
Q4 22	$433.1K	$1M	—
Q1 23	$389.2K	—	$1M
Q2 23	$370.4K	$1M	—
Q3 23	$436.8K	—	$2M
Q4 23	$528.2K	—	$2M
Q1 24	$442.6K	—	$2M
Q2 24	$453.9K	—	$2M
Q3 24	$368.2K	—	$2M
Q4 24	$518.2K	—	$3M
Q1 25	$505.7K	—	$2M
Q2 25	$440.7K	—	$2M
Q3 25	$473.9K	—	$2M
Q4 25	$668.8K	—	$3M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1M	$0	$1M
Q2 22	$214.4K	$0	$214.4K
Q3 22	$13M	$0	$13M
Q4 22	$11M	$0	$11M
Q1 23	$10M	$0	$10M
Q2 23	$8M	$0	$8M
Q3 23	$5M	$0	$5M
Q4 23	$3M	$0	$3M
Q1 24	$2M	$0	$2M
Q2 24	$801.3K	$0	$801.3K
Q3 24	$756.6K	$0	$756.6K
Q4 24	$1M	$0	$1M
Q1 25	$444.7K	$0	$444.7K
Q2 25	$802.8K	$0	$802.8K
Q3 25	$8M	$0	$8M
Q4 25	$6M	$0	$6M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	91K	0.0%	0.0%
Q2 22	91K	0.0%	0.0%
Q3 22	140K	+54.1%	+54.1%
Q4 22	279K	+99.4%	+207.2%
Q1 23	281K	+0.6%	+209.2%
Q2 23	284K	+1.0%	+212.3%
Q3 23	290K	+2.1%	+106.9%
Q4 23	308K	+6.3%	+10.3%
Q1 24	331K	+7.2%	+17.6%
Q2 24	380K	+14.9%	+33.7%
Q3 24	413K	+8.8%	+42.5%
Q4 24	413K	0.0%	+34.0%
Q1 25	542K	+31.2%	+64.0%
Q2 25	801K	+47.8%	+110.9%
Q3 25	1M	+33.2%	+158.2%
Q4 25	2M	+61.4%	+316.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$261	9
Q1 23	$102	9
Q2 23	$2.2K	9
Q3 23	$33.2K	9
Q4 23	$29.5K	75
Q1 24	$32.1K	75
Q2 24	$32.0K	75
Q3 24	$31.3K	75
Q4 24	$16.7K	132
Q1 25	$14.0K	132
Q2 25	$9.6K	132
Q3 25	$11.0K	132
Q4 25	$27.9K	57

Revenue / Employee