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bioAffinity Technologies (BIAF) Financials

bioAffinity Technologies logo
$15.27 +2.49 (+19.48%)
As of 09/4/2026 04:00 PM Eastern
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Annual Income Statements for bioAffinity Technologies

Annual Income Statements for bioAffinity Technologies

This table shows bioAffinity Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -6.33 -8.15 -7.94 -9.04 -15
Consolidated Net Income / (Loss)		 -6.33 -8.15 -7.94 -9.04 -15
Net Income / (Loss) Continuing Operations		 -6.33 -8.15 -7.94 -9.04 -15
Total Pre-Tax Income 		-6.32 -8.15 -7.92 -9.03 -15
Total Operating Income		 -2.21 -4.01 -7.97 -8.95 -11
Total Gross Profit		 0.00 0.00 2.53 9.36 6.16
Total Revenue		 0.00 0.00 2.53 9.36 6.16
Operating Revenue		 0.00 0.00 2.53 9.36 6.16
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 2.21 4.02 11 18 17
Selling, General & Admin Expense		 1.07 2.48 6.79 9.94 9.91
Research & Development Expense		 1.14 1.52 1.72 1.78 2.09
Depreciation Expense		 - 0.01 0.25 0.61 0.50
Other Operating Expenses / (Income)		 - 0.00 1.74 5.98 4.23
Total Other Income / (Expense), net		 -4.12 -4.14 0.06 -0.07 -4.29
Interest Expense		 0.76 4.19 0.04 0.09 0.04
Interest & Investment Income		 0.00 0.05 0.12 0.02 0.02
Other Income / (Expense), net		 -3.36 0.00 -0.03 0.00 -4.27
Income Tax Expense		 0.00 0.00 0.02 0.01 0.04
Basic Earnings per Share		 ($2.36) ($1.81) ($0.91) ($22.50) ($8.66)
Weighted Average Basic Shares Outstanding		 2.68M 4.50M 8.75M 404.17K 1.72M
Diluted Earnings per Share		 - ($1.81) ($0.91) ($22.50) ($8.66)
Weighted Average Diluted Shares Outstanding		 - 4.50M 8.75M 404.17K 1.72M
Weighted Average Basic & Diluted Shares Outstanding		 - 8.46M 11.51M 18.26M 4.50M

Quarterly Income Statements for bioAffinity Technologies

This table shows bioAffinity Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -2.37 -1.96 -2.11 -2.00 -2.97 -2.66 -4.06 -5.05 -3.14 -3.63 -3.37
Consolidated Net Income / (Loss)		 -2.37 -1.96 -2.11 -2.00 -2.97 -2.66 -4.06 -5.05 -3.14 -3.63 -3.37
Net Income / (Loss) Continuing Operations		 -2.37 -1.96 -2.11 -2.00 -2.97 -2.66 -4.06 -5.05 -3.14 -3.63 -3.37
Total Pre-Tax Income 		-2.37 -1.96 -2.10 -2.00 -2.97 -2.65 -4.03 -5.05 -3.13 -3.63 -3.37
Total Operating Income		 -2.34 -1.95 -2.09 -1.97 -2.95 -2.63 -2.52 -2.29 -3.14 -3.62 -3.33
Total Gross Profit		 2.21 2.41 2.40 2.35 2.21 1.85 1.27 1.45 1.59 1.35 1.51
Total Revenue		 2.21 2.41 2.40 2.35 2.21 1.85 1.27 1.45 1.59 1.35 1.51
Operating Revenue		 2.21 2.41 2.40 2.35 2.21 1.85 1.27 1.45 1.59 1.35 1.51
Total Cost of Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Operating Expenses		 4.56 4.35 4.49 4.32 5.15 4.48 3.79 3.74 4.73 4.97 4.85
Selling, General & Admin Expense		 2.21 2.19 2.47 2.36 2.92 3.82 3.23 2.21 3.04 4.17 3.95
Research & Development Expense		 0.53 0.44 0.45 0.37 0.52 0.51 0.44 0.47 0.67 0.68 0.84
Depreciation Expense		 0.15 0.15 0.15 0.15 0.15 0.15 0.11 0.11 0.12 0.11 0.06
Total Other Income / (Expense), net		 -0.03 -0.01 -0.02 -0.02 -0.02 -0.02 -1.52 -2.76 0.00 -0.01 -0.03
Interest Expense		 0.03 0.02 0.02 0.02 0.03 0.02 0.01 0.01 0.01 0.01 0.01
Interest & Investment Income		 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.02 0.01 0.00
Other Income / (Expense), net		 -0.02 0.00 0.00 -0.01 0.00 -0.01 -1.51 -2.75 -0.00 -0.01 -0.02
Income Tax Expense		 0.00 0.00 0.01 0.00 - 0.01 0.03 0.00 0.00 0.00 0.00
Basic Earnings per Share		 ($0.27) ($0.20) ($0.19) ($4.84) ($7.34) ($4.80) ($5.07) ($4.74) ($1.82) ($0.81) ($0.64)
Weighted Average Basic Shares Outstanding		 8.75M 9.92M 11.39M 412.94K 404.17K 541.84K 800.64K 1.07M 1.72M 4.49M 5.23M
Diluted Earnings per Share		 ($0.27) ($0.20) ($0.19) ($4.84) ($7.34) ($4.80) ($5.07) ($4.74) ($1.82) ($0.81) ($0.64)
Weighted Average Diluted Shares Outstanding		 8.75M 9.92M 11.39M 412.94K 404.17K 541.84K 800.64K 1.07M 1.72M 4.49M 5.23M
Weighted Average Basic & Diluted Shares Outstanding		 11.51M 11.66M 13.45M 15.58M 18.26M 27.25M 28.47M 4.50M 4.50M 4.53M 8.10M

Annual Cash Flow Statements for bioAffinity Technologies

This table details how cash moves in and out of bioAffinity Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 1.28 10 -8.59 -1.72 5.34
Net Cash From Operating Activities		 -2.05 -4.07 -6.04 -7.26 -9.33
Net Cash From Continuing Operating Activities		 -2.05 -4.07 -6.04 -7.26 -9.33
Net Income / (Loss) Continuing Operations		 -6.33 -8.15 -7.94 -9.04 -15
Consolidated Net Income / (Loss)		 -6.33 -8.15 -7.94 -9.04 -15
Depreciation Expense		 0.00 0.01 0.25 0.61 0.50
Non-Cash Adjustments To Reconcile Net Income		 3.64 3.96 0.76 0.99 4.48
Changes in Operating Assets and Liabilities, net		 0.63 0.11 0.89 0.18 0.59
Net Cash From Investing Activities		 0.00 -0.22 -2.21 -0.08 -0.06
Net Cash From Continuing Investing Activities		 0.00 -0.22 -2.21 -0.08 -0.06
Purchase of Property, Plant & Equipment		 0.00 -0.22 -0.02 -0.08 -0.06
Net Cash From Financing Activities		 3.33 14 -0.34 5.63 15
Net Cash From Continuing Financing Activities		 3.33 14 -0.34 5.63 15
Repayment of Debt		 -0.18 -0.48 -0.34 -0.36 -0.32
Repurchase of Common Equity		 - - - -1.26 -1.77
Issuance of Debt		 3.51 1.28 0.00 0.19 -0.05
Issuance of Preferred Equity		 - - - 0.00 0.99
Issuance of Common Equity		 0.00 6.03 0.00 5.61 11
Other Financing Activities, net		 0.00 7.52 0.00 1.45 4.81
Cash Interest Paid		 0.00 0.00 0.04 0.01 0.04
Cash Income Taxes Paid		 0.00 0.03 0.02 0.02 0.02

Quarterly Cash Flow Statements for bioAffinity Technologies

This table details how cash moves in and out of bioAffinity Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -1.69 -0.37 -1.65 -0.04 0.35 -0.66 0.36 6.87 -1.22 -3.35 -0.67
Net Cash From Operating Activities		 -1.62 -2.35 -1.53 -1.71 -1.68 -1.64 -2.65 -2.48 -2.56 -3.23 -3.20
Net Cash From Continuing Operating Activities		 -1.62 -2.35 -1.53 -1.71 -1.68 -1.64 -2.65 -2.48 -2.56 -3.23 -3.20
Net Income / (Loss) Continuing Operations		 -2.37 -1.96 -2.11 -2.00 -2.97 -2.66 -4.06 -5.05 -3.14 -3.63 -3.37
Consolidated Net Income / (Loss)		 -2.37 -1.96 -2.11 -2.00 -2.97 -2.66 -4.06 -5.05 -3.14 -3.63 -3.37
Depreciation Expense		 0.15 0.15 0.15 0.15 0.15 0.15 0.11 0.11 0.12 0.11 0.06
Non-Cash Adjustments To Reconcile Net Income		 0.24 0.28 0.29 0.19 0.23 0.33 1.27 2.81 0.07 0.04 0.78
Changes in Operating Assets and Liabilities, net		 0.37 -0.82 0.14 -0.05 0.90 0.54 0.03 -0.36 0.39 0.25 -0.68
Net Cash From Investing Activities		 0.01 -0.04 -0.03 -0.01 -0.00 -0.05 -0.01 0.00 -0.00 -0.01 -0.09
Net Cash From Continuing Investing Activities		 0.01 -0.04 -0.03 -0.01 -0.00 -0.05 -0.01 0.00 -0.00 -0.01 -0.09
Purchase of Property, Plant & Equipment		 0.01 -0.04 -0.03 -0.01 -0.00 -0.05 -0.01 0.00 -0.00 -0.01 -0.09
Net Cash From Financing Activities		 -0.08 2.02 -0.09 1.67 2.03 1.03 3.02 9.34 1.34 -0.12 2.62
Net Cash From Continuing Financing Activities		 -0.08 2.02 -0.09 1.67 2.03 1.03 3.02 9.34 1.34 -0.12 2.62
Repayment of Debt		 -0.08 -0.09 -0.09 -0.09 -0.09 -0.04 -0.27 0.04 -0.06 -0.12 -0.07
Cash Interest Paid		 0.03 0.02 0.02 -0.03 -0.00 0.00 0.00 0.00 0.04 0.01 0.00

Annual Balance Sheets for bioAffinity Technologies

This table presents bioAffinity Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1.45 12 8.22 6.51 11
Total Current Assets		 1.44 12 3.97 2.70 7.57
Cash & Equivalents		 1.36 11 2.82 1.11 6.45
Accounts Receivable		 0.00 0.01 0.81 1.14 0.54
Inventories, net		 0.00 0.01 0.02 0.03 0.05
Prepaid Expenses		 0.08 0.53 0.32 0.42 0.52
Plant, Property, & Equipment, net		 0.00 0.21 0.46 0.38 0.27
Total Noncurrent Assets		 0.01 0.01 3.79 3.44 3.13
Noncurrent Note & Lease Receivables		 - 0.00 1.17 0.78 0.66
Goodwill		 - 0.00 1.40 1.40 1.40
Intangible Assets		 - 0.00 0.83 0.78 0.72
Other Noncurrent Operating Assets		 0.01 0.01 0.39 0.48 0.35
Total Liabilities & Shareholders' Equity		 1.45 12 8.22 6.51 11
Total Liabilities		 13 1.14 3.37 3.91 3.68
Total Current Liabilities		 13 1.14 2.25 3.10 2.91
Short-Term Debt		 11 0.25 0.00 0.17 0.11
Accounts Payable		 0.23 0.35 0.60 0.99 0.76
Accrued Expenses		 0.48 0.54 1.15 1.40 1.72
Current Deferred Revenue		 - 0.00 0.03 0.02 0.04
Other Current Liabilities		 0.05 0.00 0.46 0.52 0.28
Total Noncurrent Liabilities		 0.16 0.00 1.12 0.81 0.78
Long-Term Debt		 - - 0.00 0.02 0.04
Other Noncurrent Operating Liabilities		 0.16 0.00 1.12 0.79 0.74
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -16 11 4.86 2.60 7.28
Total Preferred & Common Equity		 -16 11 4.86 2.60 7.28
Preferred Stock		 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -16 11 4.86 2.60 7.28
Common Stock		 13 48 49 56 76
Retained Earnings		 -29 -37 -45 -54 -69

Quarterly Balance Sheets for bioAffinity Technologies

This table presents bioAffinity Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 10 8.05 6.66 6.55 5.55 4.75 12 7.95 7.62
Total Current Assets		 6.01 3.93 2.68 2.55 1.86 1.67 8.61 4.34 3.87
Cash & Equivalents		 4.51 2.45 0.80 0.76 0.44 0.80 7.67 3.10 2.43
Accounts Receivable		 1.11 1.12 1.60 1.33 0.96 0.42 0.45 0.69 0.89
Inventories, net		 0.01 0.01 0.03 0.03 0.04 0.04 0.04 0.08 0.08
Prepaid Expenses		 0.38 0.34 0.25 0.44 0.42 0.40 0.46 0.48 0.46
Plant, Property, & Equipment, net		 0.51 0.46 0.45 0.42 0.38 0.35 0.30 0.25 0.31
Total Noncurrent Assets		 3.67 3.66 3.53 3.58 3.30 2.73 2.63 3.36 3.44
Noncurrent Note & Lease Receivables		 1.26 1.07 0.97 0.88 0.68 0.17 0.11 0.59 0.56
Goodwill		 1.15 1.40 1.40 1.40 1.40 1.40 1.40 1.40 1.40
Intangible Assets		 0.85 0.82 0.80 0.79 0.76 0.75 0.73 0.70 0.69
Other Noncurrent Operating Assets		 0.41 0.36 0.34 0.51 0.45 0.41 0.38 0.66 0.79
Total Liabilities & Shareholders' Equity		 10 8.05 6.66 6.55 5.55 4.75 12 7.95 7.62
Total Liabilities		 3.20 2.79 3.22 3.43 4.11 6.89 2.64 4.28 3.85
Total Current Liabilities		 1.96 1.77 2.33 2.49 3.42 2.59 2.36 3.18 2.68
Short-Term Debt		 0.00 0.00 0.00 0.27 0.10 0.03 0.14 0.06 0.02
Accounts Payable		 0.83 0.38 0.85 0.78 1.38 1.17 0.94 0.84 0.97
Accrued Expenses		 0.64 0.88 0.97 0.90 1.37 1.05 0.98 2.03 1.41
Current Deferred Revenue		 0.04 0.03 0.03 0.02 0.02 0.02 0.04 0.03 0.03
Other Current Liabilities		 0.45 0.47 0.48 0.51 0.53 0.31 0.26 0.22 0.24
Total Noncurrent Liabilities		 1.24 1.02 0.90 0.94 0.69 4.30 0.28 1.10 1.17
Long-Term Debt		 - 0.02 0.02 0.02 0.05 0.05 0.04 0.04 0.04
Other Noncurrent Operating Liabilities		 1.24 1.00 0.87 0.92 0.64 4.25 0.24 1.06 1.13
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 6.99 5.26 3.43 3.12 1.44 -2.14 8.90 3.66 3.77
Total Preferred & Common Equity		 6.99 5.26 3.43 3.12 1.44 -2.14 8.90 3.66 3.77
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 6.99 5.26 3.43 3.12 1.44 -2.14 8.90 3.66 3.77
Common Stock		 49 52 52 54 58 58 74 76 79
Retained Earnings		 -42 -47 -49 -51 -56 -60 -65 -72 -76

Annual Metrics And Ratios for bioAffinity Technologies

This table displays calculated financial ratios and metrics derived from bioAffinity Technologies' official financial filings.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 8,369,750.00 9,502,243.00 15,584,635.00 4,498,709.00
DEI Adjusted Shares Outstanding		 0.00 278,992.00 316,741.00 519,488.00 4,498,709.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -29.23 -25.06 -17.40 -3.31
Growth Metrics		 - - - - -
Revenue Growth		 0.00% 0.00% 52,627.44% 269.68% -34.18%
EBITDA Growth		 0.00% 28.01% -93.74% -7.69% -71.78%
EBIT Growth		 0.00% 27.89% -99.47% -11.90% -65.80%
NOPAT Growth		 0.00% -81.76% -98.78% -12.29% -18.08%
Net Income Growth		 0.00% -28.89% 2.66% -13.89% -64.93%
EPS Growth		 0.00% 0.00% 49.72% -13.89% 61.51%
Operating Cash Flow Growth		 0.00% -98.68% -48.32% -20.32% -28.41%
Free Cash Flow Firm Growth		 0.00% 0.00% -119.54% 23.42% -12.90%
Invested Capital Growth		 0.00% 85.77% 1,815.18% -16.97% -42.30%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% -0.06% -9.07%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% -7.51% -1.59%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -7.03% -1.33%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -7.24% -1.83%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -7.03% -1.16%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -7.03% 37.34%
Operating Cash Flow Q/Q Growth		 0.00% -18.94% -5.52% -0.84% -10.45%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -10.94%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -36.36% -31.05%
Profitability Metrics		 - - - - -
Gross Margin		 0.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.00% -83,299.52% -306.08% -89.17% -232.72%
Operating Margin		 0.00% -83,511.51% -314.84% -95.64% -171.58%
EBIT Margin		 0.00% -83,511.51% -315.93% -95.63% -240.91%
Profit (Net Income) Margin		 0.00% -169,771.25% -313.41% -96.56% -241.96%
Tax Burden Percent		 100.03% 100.03% 100.27% 100.13% 100.30%
Interest Burden Percent		 113.70% 203.23% 98.94% 100.84% 100.14%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% -582.86% -336.75% -555.83%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% -549.17% -188.30% -347.73%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 483.02% 94.31% 254.01%
Return on Equity (ROE)		 53.86% 2,319.94% -99.84% -242.44% -301.83%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% -380.27% -318.21% -502.19%
Operating Return on Assets (OROA)		 0.00% -58.83% -78.43% -121.52% -169.90%
Return on Assets (ROA)		 0.00% -119.60% -77.80% -122.70% -170.65%
Return on Common Equity (ROCE)		 72.40% 15,667.24% -99.84% -242.44% -301.83%
Return on Equity Simple (ROE_SIMPLE)		 40.06% -73.84% -163.47% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.54 -2.81 -5.58 -6.27 -7.40
NOPAT Margin		 0.00% -58,458.06% -220.39% -66.95% -120.10%
Net Nonoperating Expense Percent (NNEP)		 43.82% -4,292.41% -33.69% -148.46% -208.10%
Return On Investment Capital (ROIC_SIMPLE)		 - - -114.95% -224.33% -99.69%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 51,656.09% 268.14% 106.21% 160.89%
R&D to Revenue		 0.00% 31,733.71% 68.10% 19.04% 33.90%
Operating Expenses to Revenue		 0.00% 83,611.51% 414.84% 195.64% 271.58%
Earnings before Interest and Taxes (EBIT)		 -5.56 -4.01 -8.00 -8.95 -15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -5.56 -4.00 -7.75 -8.35 -14
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 0.00 1.21 2.88 5.45 0.73
Price to Tangible Book Value (P/TBV)		 0.00 1.21 5.34 33.57 1.03
Price to Revenue (P/Rev)		 0.00 2,788.17 5.52 1.51 0.86
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 5.48 7.86 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 464.21 4.40 1.42 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - -
Debt to Equity		 -0.95 0.02 0.00 0.07 0.02
Long-Term Debt to Equity		 0.00 0.00 0.00 0.01 0.01
Financial Leverage		 -0.93 0.35 -0.88 -0.50 -0.73
Leverage Ratio		 -0.12 -19.40 1.28 1.98 1.77
Compound Leverage Factor		 -0.14 -39.42 1.27 1.99 1.77
Debt to Total Capital		 -1,876.68% 2.23% 0.00% 6.87% 1.97%
Short-Term Debt to Total Capital		 -1,876.68% 2.23% 0.00% 6.14% 1.42%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.72% 0.56%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 -680.58% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 2,657.25% 97.77% 100.00% 93.13% 98.03%
Debt to EBITDA		 -2.01 -0.06 0.00 -0.02 -0.01
Net Debt to EBITDA		 -1.76 2.79 0.00 0.11 0.44
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -7.22 -0.09 0.00 -0.03 -0.02
Net Debt to NOPAT		 -6.34 3.98 0.00 0.15 0.85
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.01
Altman Z-Score		 -49.32 2.82 -7.76 -12.53 -11.29
Noncontrolling Interest Sharing Ratio		 -34.43% -575.33% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - -
Current Ratio		 0.11 10.50 1.77 0.87 2.60
Quick Ratio		 0.10 10.03 1.62 0.72 2.41
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -3.52 -7.73 -5.92 -6.69
Operating Cash Flow to CapEx		 0.00% -1,850.49% -26,363.66% -9,186.29% -15,402.26%
Free Cash Flow to Firm to Interest Expense		 0.00 -0.84 -208.31 -64.04 -150.69
Operating Cash Flow to Interest Expense		 -2.69 -0.97 -162.63 -78.56 -210.24
Operating Cash Flow Less CapEx to Interest Expense		 -2.69 -1.02 -163.25 -79.41 -211.61
Efficiency Ratios		 - - - - -
Asset Turnover		 0.00 0.00 0.25 1.27 0.71
Accounts Receivable Turnover		 0.00 0.80 6.16 9.60 7.33
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.04 7.53 22.45 19.23
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 456.69 59.25 38.03 49.79
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 456.69 59.25 38.03 49.79
Capital & Investment Metrics		 - - - - -
Invested Capital		 -0.83 -0.12 2.03 1.69 0.97
Invested Capital Turnover		 0.00 -0.01 2.64 5.03 4.63
Increase / (Decrease) in Invested Capital		 0.00 0.71 2.15 -0.35 -0.71
Enterprise Value (EV)		 22 2.23 11 13 -0.99
Market Capitalization		 7.86 13 14 14 5.31
Book Value per Share		 ($5.90) $1.32 $0.51 $0.17 $1.62
Tangible Book Value per Share		 ($5.90) $1.32 $0.28 $0.03 $1.15
Total Capital		 -0.59 11 4.86 2.79 7.42
Total Debt		 11 0.25 0.00 0.19 0.15
Total Long-Term Debt		 0.00 0.00 0.00 0.02 0.04
Net Debt		 9.79 -11 -2.82 -0.91 -6.30
Capital Expenditures (CapEx)		 0.00 0.22 0.02 0.08 0.06
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.81 -0.34 -1.10 -1.34 -1.69
Debt-free Net Working Capital (DFNWC)		 -0.45 11 1.72 -0.24 4.76
Net Working Capital (NWC)		 -12 11 1.72 -0.41 4.66
Net Nonoperating Expense (NNE)		 4.78 5.35 2.36 2.77 7.51
Net Nonoperating Obligations (NNO)		 11 -11 -2.82 -0.91 -6.30
Total Depreciation and Amortization (D&A)		 0.00 0.01 0.25 0.61 0.50
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -7,058.26% -43.30% -14.35% -27.35%
Debt-free Net Working Capital to Revenue		 0.00% 230,579.87% 68.11% -2.54% 77.32%
Net Working Capital to Revenue		 0.00% 225,338.43% 68.11% -4.38% 75.61%
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($1.81) ($0.91) ($22.50) ($8.66)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 4.50M 8.75M 404.17K 1.72M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($0.91) ($22.50) ($8.66)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 8.46M 8.75M 404.17K 1.72M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 8.46M 11.51M 608.53K 4.50M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.54 -2.81 -5.58 -6.27 -7.40
Normalized NOPAT Margin		 0.00% -58,458.06% -220.39% -66.95% -120.10%
Pre Tax Income Margin		 0.00% -169,720.05% -312.58% -96.43% -241.25%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 -7.29 -0.96 -215.52 -96.82 -334.55
NOPAT to Interest Expense		 -2.03 -0.67 -150.34 -67.77 -166.79
EBIT Less CapEx to Interest Expense		 -7.29 -1.01 -216.13 -97.67 -335.92
NOPAT Less CapEx to Interest Expense		 -2.03 -0.72 -150.95 -68.63 -168.15
Payout Ratios		 - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% -13.96% -11.88%

Quarterly Metrics And Ratios for bioAffinity Technologies

This table displays calculated financial ratios and metrics derived from bioAffinity Technologies' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 9,502,243.00 11,514,354.00 11,657,537.00 13,449,165.00 15,584,635.00 18,255,824.00 27,249,462.00 28,468,612.00 4,498,709.00 4,498,675.00 4,534,906.00
DEI Adjusted Shares Outstanding		 316,741.00 383,812.00 388,585.00 448,305.00 519,488.00 608,527.00 908,315.00 948,954.00 4,498,709.00 4,498,675.00 4,534,906.00
DEI Earnings Per Adjusted Shares Outstanding		 -7.49 -5.11 -5.43 -4.46 -5.71 -4.37 -4.47 -5.32 -0.70 -0.81 -0.74
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 261,180.24% 12,047.39% 687.44% -0.26% -22.97% -47.05% -38.48% -27.85% -27.09% 18.99%
EBITDA Growth		 0.00% -16.59% -10.24% 18.75% -26.41% -38.59% -101.89% -169.77% -8.06% -41.46% 15.70%
EBIT Growth		 0.00% -24.57% -17.40% 14.22% -24.95% -35.87% -92.71% -154.87% -6.62% -37.51% 16.54%
NOPAT Growth		 0.00% -24.86% -17.40% 13.97% -25.79% -35.06% -20.49% -16.16% -6.46% -37.68% -32.57%
Net Income Growth		 0.00% -27.99% -21.27% 12.66% -25.02% -35.61% -92.43% -152.45% -5.75% -36.47% 17.11%
EPS Growth		 0.00% -11.11% 5.00% 12.66% -25.02% -35.61% -92.43% 2.07% 75.20% 83.13% 87.38%
Operating Cash Flow Growth		 -24.27% -53.43% -12.68% -11.53% -3.77% 30.02% -72.75% -45.11% -52.61% -96.57% -20.92%
Free Cash Flow Firm Growth		 0.00% -256.22% 0.00% 62.64% 0.00% 96.24% 191.21% 76.47% 13.73% -1,220.79% -275.44%
Invested Capital Growth		 0.00% 4,088.28% 0.00% 6.78% -16.97% -59.47% -207.57% -46.74% -42.30% -42.22% 148.88%
Revenue Q/Q Growth		 641.53% 8.72% -0.36% -1.97% -6.08% -16.04% -31.51% 13.91% 10.15% -15.15% 11.77%
EBITDA Q/Q Growth		 1.80% 18.92% -8.13% 5.64% -52.79% 11.11% -57.53% -26.09% 38.80% -16.38% 6.13%
EBIT Q/Q Growth		 -2.20% 17.69% -7.58% 5.22% -48.87% 10.49% -52.59% -25.36% 37.72% -15.44% 7.40%
NOPAT Q/Q Growth		 -2.09% 16.96% -7.33% 5.46% -49.28% 10.84% 4.25% 8.85% -36.82% -15.30% 7.80%
Net Income Q/Q Growth		 -3.59% 17.33% -7.57% 5.19% -48.28% 10.33% -52.64% -24.39% 37.89% -15.72% 7.29%
EPS Q/Q Growth		 -3.85% 25.93% 5.00% 5.19% -48.28% 10.33% -52.64% -2,688.24% 61.60% 55.49% 20.99%
Operating Cash Flow Q/Q Growth		 -5.47% -45.14% 34.68% -11.54% 1.88% 2.11% -61.24% 6.31% -3.20% -26.09% 0.81%
Free Cash Flow Firm Q/Q Growth		 100.00% 0.00% 0.13% 62.37% -10.79% 90.97% 2,524.28% -109.71% -306.10% -38.18% -222.01%
Invested Capital Q/Q Growth		 -18.15% 39.24% -6.11% -0.21% -36.36% -32.04% -349.22% 149.41% -31.05% -31.95% 110.85%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
EBITDA Margin		 -99.80% -74.43% -80.78% -77.76% -126.49% -133.91% -308.01% -340.94% -189.43% -259.81% -218.21%
Operating Margin		 -105.83% -80.84% -87.08% -83.98% -133.47% -141.73% -198.16% -158.56% -196.94% -267.62% -220.77%
EBIT Margin		 -106.52% -80.65% -87.08% -84.19% -133.44% -142.25% -316.93% -348.78% -197.19% -268.28% -222.28%
Profit (Net Income) Margin		 -107.22% -81.53% -88.01% -85.13% -134.40% -143.53% -319.88% -349.30% -196.98% -268.63% -222.83%
Tax Burden Percent		 100.10% 100.19% 100.26% 100.13% 100.00% 100.33% 100.72% 100.06% 100.10% 100.00% 100.00%
Interest Burden Percent		 100.56% 100.90% 100.82% 100.98% 100.71% 100.57% 100.21% 100.08% 99.79% 100.13% 100.25%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -92.25% -192.75% -335.45% -214.37% -469.99% -439.27% 0.00% -369.95% -638.01% -1,171.15% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 -66.26% -182.77% -167.89% -189.49% -421.56% -378.81% 0.00% -283.33% -611.92% -1,104.36% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 38.50% 147.27% 37.87% 93.24% 211.14% 153.71% 0.00% 187.51% 446.98% 712.33% 0.00%
Return on Equity (ROE)		 -53.75% -45.48% -297.58% -121.13% -258.84% -285.56% -1,802.45% -182.44% -191.03% -458.82% -1,860.15%
Cash Return on Invested Capital (CROIC)		 -380.27% -594.39% 0.00% 0.00% -318.21% -254.36% 0.00% -296.46% -502.19% -840.46% -924.49%
Operating Return on Assets (OROA)		 -26.44% -43.02% -95.70% -94.22% -169.57% -184.33% -426.80% -261.20% -139.07% -225.08% -212.07%
Return on Assets (ROA)		 -26.62% -43.49% -96.73% -95.27% -170.78% -185.98% -430.77% -261.58% -138.92% -225.37% -212.60%
Return on Common Equity (ROCE)		 -53.75% -45.48% -297.58% -121.13% -258.84% -285.56% -1,802.45% -182.44% -191.03% -458.82% -1,860.15%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -159.14% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.64 -1.36 -1.46 -1.38 -2.06 -1.84 -1.76 -1.60 -2.20 -2.53 -2.33
NOPAT Margin		 -74.08% -56.59% -60.95% -58.79% -93.43% -99.21% -138.71% -110.99% -137.86% -187.34% -154.54%
Net Nonoperating Expense Percent (NNEP)		 -26.00% -9.98% -167.56% -24.88% -48.42% -60.46% -306.99% -86.62% -26.09% -66.79% -66.68%
Return On Investment Capital (ROIC_SIMPLE)		 -33.77% -25.77% -42.24% -40.52% -73.83% -115.49% 85.60% -17.67% -29.58% -67.31% -60.99%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 100.03% 90.84% 103.13% 100.60% 132.28% 206.11% 254.53% 152.79% 190.68% 308.56% 261.25%
R&D to Revenue		 23.86% 18.39% 18.93% 15.67% 23.47% 27.28% 34.71% 32.77% 41.99% 50.59% 55.44%
Operating Expenses to Revenue		 205.83% 180.84% 187.08% 183.98% 233.47% 241.73% 298.16% 258.56% 296.94% 367.62% 320.77%
Earnings before Interest and Taxes (EBIT)		 -2.36 -1.94 -2.09 -1.98 -2.95 -2.64 -4.02 -5.04 -3.14 -3.63 -3.36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -2.21 -1.79 -1.94 -1.83 -2.79 -2.48 -3.91 -4.93 -3.02 -3.51 -3.30
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.88 3.65 7.33 8.96 5.45 3.30 0.00 0.32 0.73 4.71 0.98
Price to Tangible Book Value (P/TBV)		 5.34 6.33 20.57 30.18 33.57 0.00 0.00 0.42 1.03 11.08 2.20
Price to Revenue (P/Rev)		 5.52 3.89 3.44 2.99 1.51 0.54 1.02 0.41 0.86 3.04 0.62
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 5.48 5.92 9.18 10.37 7.86 3.88 0.00 0.00 0.00 21.46 0.94
Enterprise Value to Revenue (EV/Rev)		 4.40 3.40 3.34 2.94 1.42 0.51 0.92 0.00 0.00 2.51 0.22
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.01 0.01 0.09 0.07 0.11 -0.04 0.02 0.02 0.03 0.02
Long-Term Debt to Equity		 0.00 0.00 0.01 0.01 0.01 0.03 -0.02 0.00 0.01 0.01 0.01
Financial Leverage		 -0.58 -0.81 -0.23 -0.49 -0.50 -0.41 -1.16 -0.66 -0.73 -0.65 -1.90
Leverage Ratio		 1.28 1.24 1.94 1.66 1.98 2.03 8.80 1.51 1.77 2.65 7.58
Compound Leverage Factor		 1.29 1.25 1.95 1.67 1.99 2.04 8.81 1.51 1.77 2.65 7.60
Debt to Total Capital		 0.00% 0.52% 0.78% 8.47% 6.87% 9.60% -3.84% 1.98% 1.97% 2.66% 1.54%
Short-Term Debt to Total Capital		 0.00% 0.09% 0.12% 7.83% 6.14% 6.58% -1.60% 1.50% 1.42% 1.63% 0.59%
Long-Term Debt to Total Capital		 0.00% 0.44% 0.66% 0.64% 0.72% 3.02% -2.23% 0.48% 0.56% 1.03% 0.95%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 99.48% 99.22% 91.53% 93.13% 90.40% 103.84% 98.02% 98.03% 97.34% 98.46%
Debt to EBITDA		 0.00 0.00 0.00 -0.04 -0.02 -0.02 -0.01 -0.01 -0.01 -0.01 0.00
Net Debt to EBITDA		 0.00 0.30 0.09 0.06 0.11 0.03 0.07 0.53 0.44 0.20 0.16
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.01 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 -0.05 -0.03 -0.02 -0.01 -0.02 -0.02 -0.01 -0.01
Net Debt to NOPAT		 0.00 0.41 0.13 0.08 0.15 0.04 0.10 1.03 0.85 0.37 0.27
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.01 -0.01 -0.01 -0.01 0.00 0.00
Altman Z-Score		 -5.49 -3.83 -5.42 -5.49 -9.49 -13.83 -18.52 -7.50 -7.76 -10.93 -13.80
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.77 2.22 1.15 1.02 0.87 0.55 0.64 3.65 2.60 1.36 1.44
Quick Ratio		 1.62 2.02 1.03 0.84 0.72 0.41 0.47 3.44 2.41 1.19 1.24
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -4.13 -4.12 -1.55 -1.72 -0.16 3.76 -0.36 -1.48 -2.05 -6.59
Operating Cash Flow to CapEx		 0.00% -5,668.39% -5,417.80% -18,164.02% -167,716,100.00% -3,232.73% -19,715.54% 0.00% -255,956,300.00% -56,988.17% -3,557.97%
Free Cash Flow to Firm to Interest Expense		 0.00 -175.19 -185.18 -71.67 -68.58 -10.01 359.26 -68.09 -113.37 -139.07 -564.04
Operating Cash Flow to Interest Expense		 -63.82 -99.62 -68.88 -79.02 -66.97 -106.02 -253.08 -462.91 -195.85 -219.21 -273.88
Operating Cash Flow Less CapEx to Interest Expense		 -63.29 -101.37 -70.15 -79.45 -66.97 -109.30 -254.36 -462.23 -195.85 -219.60 -281.58
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.25 0.53 1.10 1.12 1.27 1.30 1.35 0.75 0.71 0.84 0.95
Accounts Receivable Turnover		 6.16 8.70 4.59 7.69 9.60 8.44 7.61 7.63 7.33 6.86 8.96
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 7.53 14.39 16.28 20.14 22.45 20.88 19.19 18.79 19.23 17.99 17.75
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 59.25 41.93 79.61 47.45 38.03 43.24 47.94 47.83 49.79 53.17 40.72
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 59.25 41.93 79.61 47.45 38.03 43.24 47.94 47.83 49.79 53.17 40.72
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2.03 2.83 2.66 2.65 1.69 1.15 -2.86 1.41 0.97 0.66 1.40
Invested Capital Turnover		 1.25 3.41 5.50 3.65 5.03 4.43 -76.29 3.33 4.63 6.25 -8.07
Increase / (Decrease) in Invested Capital		 0.00 2.76 2.66 0.17 -0.35 -1.68 -5.52 -1.24 -0.71 -0.48 4.26
Enterprise Value (EV)		 11 17 24 28 13 4.45 7.10 -4.68 -0.99 14 1.31
Market Capitalization		 14 19 25 28 14 4.75 7.83 2.81 5.31 17 3.68
Book Value per Share		 $0.51 $0.55 $0.29 $0.23 $0.17 $0.09 ($0.08) $0.31 $1.62 $0.81 $0.83
Tangible Book Value per Share		 $0.28 $0.32 $0.11 $0.07 $0.03 ($0.05) ($0.16) $0.24 $1.15 $0.35 $0.37
Total Capital		 4.86 5.28 3.46 3.41 2.79 1.59 -2.06 9.08 7.42 3.76 3.83
Total Debt		 0.00 0.03 0.03 0.29 0.19 0.15 0.08 0.18 0.15 0.10 0.06
Total Long-Term Debt		 0.00 0.02 0.02 0.02 0.02 0.05 0.05 0.04 0.04 0.04 0.04
Net Debt		 -2.82 -2.43 -0.77 -0.47 -0.91 -0.29 -0.72 -7.49 -6.30 -3.00 -2.37
Capital Expenditures (CapEx)		 -0.01 0.04 0.03 0.01 0.00 0.05 0.01 -0.00 0.00 0.01 0.09
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.10 -0.29 -0.44 -0.43 -1.34 -1.89 -1.69 -1.28 -1.69 -1.88 -1.22
Debt-free Net Working Capital (DFNWC)		 1.72 2.16 0.36 0.33 -0.24 -1.45 -0.89 6.39 4.76 1.22 1.21
Net Working Capital (NWC)		 1.72 2.16 0.35 0.06 -0.41 -1.55 -0.92 6.25 4.66 1.16 1.18
Net Nonoperating Expense (NNE)		 0.73 0.60 0.65 0.62 0.90 0.82 2.30 3.45 0.94 1.10 1.03
Net Nonoperating Obligations (NNO)		 -2.82 -2.43 -0.77 -0.47 -0.91 -0.29 -0.72 -7.49 -6.30 -3.00 -2.37
Total Depreciation and Amortization (D&A)		 0.15 0.15 0.15 0.15 0.15 0.15 0.11 0.11 0.12 0.11 0.06
Debt-free, Cash-free Net Working Capital to Revenue		 -43.30% -5.85% -6.06% -4.61% -14.35% -21.47% -21.99% -18.87% -27.35% -33.23% -20.72%
Debt-free Net Working Capital to Revenue		 68.11% 43.83% 4.90% 3.47% -2.54% -16.42% -11.54% 94.30% 77.32% 21.51% 20.45%
Net Working Capital to Revenue		 68.11% 43.73% 4.84% 0.62% -4.38% -17.61% -11.97% 92.29% 75.61% 20.43% 20.07%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.27) ($0.20) ($0.19) ($4.80) ($220.20) ($4.80) ($5.10) ($4.74) ($1.82) ($0.81) ($0.64)
Adjusted Weighted Average Basic Shares Outstanding		 8.75M 9.92M 11.39M 413.06K 13.47K 541.92K 800.72K 1.07M 1.72M 4.49M 5.23M
Adjusted Diluted Earnings per Share		 ($0.27) ($0.20) ($0.19) ($4.80) ($220.20) ($4.80) ($5.10) ($4.74) ($1.82) ($0.81) ($0.64)
Adjusted Weighted Average Diluted Shares Outstanding		 8.75M 9.92M 11.39M 413.06K 13.47K 541.92K 800.72K 1.07M 1.72M 4.49M 5.23M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($220.20) $0.00 $0.00 $0.00 ($1.82) $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 11.51M 11.66M 13.45M 519.49K 608.53K 908.32K 948.95K 4.50M 4.50M 4.53M 8.10M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.64 -1.36 -1.46 -1.38 -2.06 -1.84 -1.76 -1.60 -2.20 -2.53 -2.33
Normalized NOPAT Margin		 -74.08% -56.59% -60.95% -58.79% -93.43% -99.21% -138.71% -110.99% -137.86% -187.34% -154.54%
Pre Tax Income Margin		 -107.12% -81.37% -87.79% -85.02% -134.40% -143.06% -317.59% -349.08% -196.78% -268.63% -222.83%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -93.10 -82.41 -93.84 -91.48 -117.63 -170.28 -384.64 -941.33 -240.34 -246.29 -287.28
NOPAT to Interest Expense		 -64.75 -57.82 -65.69 -63.88 -82.36 -118.76 -168.35 -299.55 -168.02 -171.98 -199.73
EBIT Less CapEx to Interest Expense		 -92.57 -84.17 -95.11 -91.92 -117.63 -173.56 -385.93 -940.65 -240.34 -246.68 -294.98
NOPAT Less CapEx to Interest Expense		 -64.21 -59.58 -66.96 -64.31 -82.36 -122.04 -169.63 -298.87 -168.02 -172.36 -207.42
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% -13.96% 0.00% 0.00% 0.00% -11.88% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

bioAffinity Technologies (NASDAQ:BIAF) continues to show revenue generation, but its financial statements remain marked by persistent operating losses and cash consumption. Revenue was $1.51 million in Q2 2026, up 11.8% from $1.35 million in Q1 2026 but down from $2.40 million in Q1 2024 and $2.35 million in Q3 2024. The recent improvement is encouraging, although revenue has generally remained below 2024 levels.

Because reported cost of revenue was zero in the periods provided, revenue was presented as gross profit. However, operating expenses substantially exceeded revenue. Q2 2026 operating expenses were $4.85 million, producing an operating loss of $3.33 million. The company reported a net loss of $3.37 million, or $0.64 per basic and diluted share, compared with a $3.63 million loss, or $0.81 per share, in Q1 2026.

Cash flow remains the primary concern. BIAF used $3.20 million in operating cash during Q2 2026, broadly consistent with the $3.23 million used in Q1 2026. Operating cash flow has been negative in every quarter provided, including $1.53 million of usage in Q2 2024, $2.48 million in Q3 2025 and $2.56 million in Q4 2025. Financing proceeds, rather than operations, have frequently supported liquidity.

At June 30, 2026, cash and equivalents totaled $2.43 million, down from $3.10 million at March 31, 2026 and $7.67 million at September 30, 2025. The company raised $2.62 million through financing in Q2 2026, which partially offset its operating cash burn, capital expenditures and debt repayments. Based solely on the latest quarter's operating cash usage, the reported cash balance represents less than one quarter of operating cash burn, although accounts receivable, additional financing and other liquidity sources could extend that period.

  • Revenue increased sequentially: Q2 2026 revenue rose to $1.51 million from $1.35 million in Q1 2026, while the net loss narrowed by approximately 7%.
  • Losses improved from the recent peak: The Q2 2026 net loss was below the $5.05 million loss reported in Q3 2025 and the $3.63 million loss in Q1 2026.
  • Debt levels remain modest: Short- and long-term debt totaled approximately $59,000 at June 30, 2026, down substantially from roughly $314,000 at September 30, 2025.
  • Shareholders' equity returned to positive territory: Total equity was $3.77 million at the end of Q2 2026, compared with negative equity of $2.14 million at June 30, 2025.
  • Liquidity includes receivables: Accounts receivable increased to $895,000 in Q2 2026 from $685,000 in Q1, but the timing and collectability of those balances will be important because cash alone was below total current liabilities.
  • Financing has been essential to liquidity: BIAF generated $2.62 million from financing in Q2 2026, but this source of cash may not be recurring and could depend on capital-market conditions.
  • Operating cash burn remains substantial: The company used $3.20 million in operating cash in Q2 2026, with negative operating cash flow in every quarter supplied.
  • Profitability remains distant: Q2 operating expenses were more than three times revenue, resulting in a $3.33 million operating loss and a $3.37 million net loss.
  • Cash reserves declined sharply: Cash fell approximately 68% from $7.67 million at September 30, 2025 to $2.43 million at June 30, 2026, despite subsequent financing activity.
  • Dilution is a continuing risk: Weighted-average basic shares rose to 5.23 million in Q2 2026 from 1.72 million in Q4 2025 and 0.41 million in Q4 2024. The historical share data also includes restated periods, so investors should review the company's filings for reverse splits, equity issuances and other share-count adjustments.

Overall, the latest quarter shows modest sequential revenue growth and a smaller loss, but BIAF remains dependent on external financing while spending heavily to support operations. Investors should focus on whether revenue growth can accelerate, whether selling and administrative expenses can be reduced, and whether operating cash flow begins moving toward breakeven before the company's remaining cash is depleted.

09/05/26 01:53 AM ETAI Generated. May Contain Errors.

bioAffinity Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, bioAffinity Technologies' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

bioAffinity Technologies' net income appears to be on an upward trend, with a most recent value of -$14.91 million in 2025, rising from -$6.33 million in 2021. The previous period was -$9.04 million in 2024. Find out what analysts predict for bioAffinity Technologies in the coming months.

bioAffinity Technologies' total operating income in 2025 was -$10.57 million, based on the following breakdown:
  • Total Gross Profit: $6.16 million
  • Total Operating Expenses: $16.73 million

Over the last 4 years, bioAffinity Technologies' total revenue changed from $0.00 in 2021 to $6.16 million in 2025, a change of 616,195,900.0%.

bioAffinity Technologies' total liabilities were at $3.68 million at the end of 2025, a 5.8% decrease from 2024, and a 72.1% decrease since 2021.

In the past 4 years, bioAffinity Technologies' cash and equivalents has ranged from $1.11 million in 2024 to $11.41 million in 2022, and is currently $6.45 million as of their latest financial filing in 2025.

Over the last 4 years, bioAffinity Technologies' book value per share changed from -5.90 in 2021 to 1.62 in 2025, a change of -127.4%.


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Financial statements for NASDAQ:BIAF last updated on 8/24/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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