bioAffinity Tech Financials

BIAFW

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows bioAffinity Tech (BIAFW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 30/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

bioAffinity Tech has an operating margin of -95.6%, meaning the company retains $-96 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -100.9% the prior year.

Growth

bioAffinity Tech's revenue surged 18.5% year-over-year to $9.4M, reflecting rapid business expansion. This strong growth earns a score of 81/100.

Leverage

bioAffinity Tech has a moderate D/E ratio of 1.50. This balance of debt and equity financing earns a leverage score of 55/100.

Liquidity

bioAffinity Tech's current ratio of 0.87 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 15/100, which could limit financial flexibility.

Cash Flow

While bioAffinity Tech generated -$7.3M in operating cash flow, capex of $79K consumed most of it, leaving -$7.3M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

3/9

bioAffinity Tech passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.80x

For every $1 of reported earnings, bioAffinity Tech generates $0.80 in operating cash flow (-$7.3M OCF vs -$9.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-96.8x

bioAffinity Tech earns $-96.8 in operating income for every $1 of interest expense (-$9.0M vs $92K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$9.4M

YoY+18.5%

bioAffinity Tech generated $9.4M in revenue in fiscal year 2024. This represents an increase of 18.5% from the prior year.

EBITDA

-$8.3M

YoY-8.1%

bioAffinity Tech's EBITDA was -$8.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 8.1% from the prior year.

Free Cash Flow

-$7.3M

YoY-21.2%

bioAffinity Tech generated -$7.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 21.2% from the prior year.

Net Income

-$9.0M

YoY-13.9%

bioAffinity Tech reported -$9.0M in net income in fiscal year 2024. This represents a decrease of 13.9% from the prior year.

EPS (Diluted)

$-0.75

bioAffinity Tech earned $-0.75 per diluted share (EPS) in fiscal year 2024. This represents an increase of 17.6% from the prior year.

Cash & Debt

$1.1M

YoY-60.8%

bioAffinity Tech held $1.1M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

507,520

bioAffinity Tech had 507,520 shares outstanding in fiscal year 2024. This represents a decrease of 94.6% from the prior year.

Gross Margin

N/A

Operating Margin

-95.6%

YoY+5.3pp

bioAffinity Tech's operating margin was -95.6% in fiscal year 2024, reflecting core business profitability. This is up 5.3 percentage points from the prior year.

Net Margin

-96.6%

YoY+3.9pp

bioAffinity Tech's net profit margin was -96.6% in fiscal year 2024, showing the share of revenue converted to profit. This is up 3.9 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$1.5M

YoY-0.5%

bioAffinity Tech invested $1.5M in research and development in fiscal year 2024. This represents a decrease of 0.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$79K

YoY+245.3%

bioAffinity Tech invested $79K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 245.3% from the prior year.

BIAFW Income Statement

Metric	FY24	FY23	FY22	FY21
Revenue	$9.4M+18.5%	$7.9M+164380.5%	$5K	N/A
Cost of Revenue	N/A	N/A	$467	N/A
Gross Profit	N/A	N/A	$4K	N/A
R&D Expenses	$1.5M-0.5%	$1.5M+6.5%	$1.4M+36.8%	$1.0M
SG&A Expenses	$9.9M+46.4%	$6.8M+173.7%	$2.5M+132.1%	$1.1M
Operating Income	-$9.0M-12.3%	-$8.0M-98.8%	-$4.0M-81.8%	-$2.2M
Interest Expense	$92K+149.1%	$37K-98.5%	$2.5M+152.8%	$1.0M
Income Tax	$12K-44.5%	$21K+753.7%	$2K+26.1%	$2K
Net Income	-$9.0M-13.9%	-$7.9M+2.7%	-$8.2M-28.9%	-$6.3M
EPS (Diluted)	$-0.75	$-0.91+49.7%	$-1.81	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$1.4M+13.9%	$1.3M-31.5%	$1.9M-16.0%	$2.2M-7.9%	$2.4M-0.4%	$2.4M-68.2%	$7.6M+2424.4%	$300K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$75K
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$224K
R&D Expenses	$331K+6.2%	$311K-15.2%	$367K-6.0%	$391K-2.9%	$402K+2.2%	$394K-9.1%	$433K+31.0%	$330K
SG&A Expenses	$2.2M-0.2%	$2.2M-9.7%	$2.5M-16.0%	$2.9M+18.1%	$2.5M+13.1%	$2.2M-1.3%	$2.2M+9.4%	$2.0M
Operating Income	-$2.3M+8.9%	-$2.5M+4.2%	-$2.6M+10.8%	-$2.9M-41.1%	-$2.1M-7.3%	-$1.9M+17.0%	-$2.3M-2.1%	-$2.3M
Interest Expense	$5K-48.8%	$10K-32.5%	$15K-38.2%	$25K+12.6%	$22K-5.5%	$24K-7.0%	$25K+188.3%	$9K
Income Tax	$3K-89.0%	$29K+233.3%	$9K	$0-100.0%	$5K+47.6%	$4K+60.1%	$2K0.0%	$2K
Net Income	-$5.1M-24.4%	-$4.1M-52.6%	-$2.7M+10.3%	-$3.0M-40.6%	-$2.1M-7.6%	-$2.0M+17.3%	-$2.4M-3.6%	-$2.3M
EPS (Diluted)	$-4.74	$-0.17-6.3%	$-0.16	$4.48	$-0.19+5.0%	$-0.20+25.9%	$-0.27-3.8%	$-0.26

BIAFW Balance Sheet

Metric	FY24	FY23	FY22	FY21
Total Assets	$6.5M-20.8%	$8.2M-32.5%	$12.2M+738.2%	$1.5M
Current Assets	$2.7M-32.2%	$4.0M-66.8%	$12.0M+731.7%	$1.4M
Cash & Equivalents	$1.1M-60.8%	$2.8M-75.3%	$11.4M+738.9%	$1.4M
Inventory	$28K+49.4%	$18K+233.6%	$6K	N/A
Accounts Receivable	N/A	N/A	N/A	N/A
Goodwill	$1.4M0.0%	$1.4M	N/A	N/A
Total Liabilities	$3.9M+16.2%	$3.4M+195.6%	$1.1M-93.4%	$17.2M
Current Liabilities	$3.1M+38.1%	$2.2M+97.4%	$1.1M-91.3%	$13.0M
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$2.6M-46.4%	$4.9M-56.0%	$11.0M+169.9%	-$15.8M
Retained Earnings	-$53.6M-20.3%	-$44.6M-21.6%	-$36.7M-28.6%	-$28.5M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$11.5M+143.0%	$4.8M-14.4%	$5.5M-14.8%	$6.5M-2.1%	$6.7M-17.3%	$8.0M-2.1%	$8.2M-19.3%	$10.2M
Current Assets	$8.6M+416.1%	$1.7M-10.5%	$1.9M-30.8%	$2.7M+0.5%	$2.7M-31.8%	$3.9M-1.0%	$4.0M-33.9%	$6.0M
Cash & Equivalents	$7.7M+855.3%	$803K+80.5%	$445K-59.8%	$1.1M+37.9%	$801K-67.3%	$2.5M-13.1%	$2.8M-37.4%	$4.5M
Inventory	$35K-19.9%	$44K+13.4%	$39K+40.5%	$28K-7.3%	$30K+213.8%	$9K-48.7%	$18K+86.6%	$10K
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M0.0%	$1.4M+22.3%	$1.1M
Total Liabilities	$2.6M-61.6%	$6.9M+67.7%	$4.1M+5.0%	$3.9M+21.4%	$3.2M+15.4%	$2.8M-17.1%	$3.4M+5.3%	$3.2M
Current Liabilities	$2.4M-8.8%	$2.6M-24.2%	$3.4M+10.0%	$3.1M+33.5%	$2.3M+31.3%	$1.8M-21.2%	$2.2M+14.8%	$2.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$8.9M+516.7%	-$2.1M-248.4%	$1.4M-44.7%	$2.6M-24.2%	$3.4M-34.7%	$5.3M+8.3%	$4.9M-30.6%	$7.0M
Retained Earnings	-$65.4M-8.4%	-$60.4M-7.2%	-$56.3M-5.0%	-$53.6M-10.2%	-$48.7M-4.5%	-$46.6M-4.4%	-$44.6M-5.6%	-$42.2M

BIAFW Cash Flow Statement

Metric	FY24	FY23	FY22	FY21
Operating Cash Flow	-$7.3M-20.3%	-$6.0M-48.3%	-$4.1M-98.7%	-$2.0M
Capital Expenditures	$79K+245.3%	$23K-89.6%	$220K	N/A
Free Cash Flow	-$7.3M-21.2%	-$6.1M-41.2%	-$4.3M	N/A
Investing Cash Flow	-$79K+96.4%	-$2.2M-904.3%	-$220K	N/A
Financing Cash Flow	$5.6M+1731.3%	-$345K-102.4%	$14.3M+331.2%	$3.3M
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$2.5M+6.3%	-$2.6M-61.2%	-$1.6M+2.1%	-$1.7M-9.4%	-$1.5M+34.7%	-$2.3M-45.1%	-$1.6M-5.5%	-$1.5M
Capital Expenditures	-$4K-127.2%	$13K-73.6%	$51K+5078500.0%	$1-100.0%	$28K-31.7%	$41K+407.9%	-$13K-8053.8%	$169
Free Cash Flow	-$2.5M+6.6%	-$2.7M-57.2%	-$1.7M-0.9%	-$1.7M-7.5%	-$1.6M+34.6%	-$2.4M-46.5%	-$1.6M-6.3%	-$1.5M
Investing Cash Flow	$4K+127.2%	-$13K+73.6%	-$51K-5078500.0%	-$1+100.0%	-$28K+31.7%	-$41K-407.9%	$13K+100.6%	-$2.2M
Financing Cash Flow	$9.3M+209.5%	$3.0M+192.5%	$1.0M-49.1%	$2.0M+2322.7%	-$91K-104.5%	$2.0M+2480.7%	-$85K-67.0%	-$51K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BIAFW Financial Ratios

Metric	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	90.3%	N/A
Operating Margin	-95.6%+5.3pp	-100.9%+83410.6pp	-83511.5%	N/A
Net Margin	-96.6%+3.9pp	-100.5%+169670.8pp	-169771.3%	N/A
Return on Equity	N/A	N/A	N/A	N/A
Return on Assets	-138.8%-42.2pp	-96.5%-29.6pp	-66.9%+368.4pp	-435.3%
Current Ratio	0.87-0.9	1.77-8.7	10.50+10.4	0.11
Debt-to-Equity	1.50+0.8	0.69+0.6	0.10+1.2	-1.09
FCF Margin	-78.4%-1.7pp	-76.7%+89259.8pp	-89336.5%	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	74.5%
Operating Margin	-158.6%+39.6pp	-198.2%-56.4pp	-141.7%-8.3pp	-133.5%-46.4pp	-87.1%-6.2pp	-80.8%-49.9pp	-30.9%+733.3pp	-764.2%
Net Margin	-349.3%-29.4pp	-319.9%-176.3pp	-143.5%-9.1pp	-134.4%-46.4pp	-88.0%-6.5pp	-81.5%-50.2pp	-31.3%+731.7pp	-763.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-43.8%+41.7pp	-85.5%-37.5pp	-48.0%-2.4pp	-45.6%-13.9pp	-31.7%-7.3pp	-24.4%+4.5pp	-28.9%-6.4pp	-22.5%
Current Ratio	3.65+3.0	0.64+0.1	0.55-0.3	0.87-0.3	1.15-1.1	2.22+0.5	1.77-1.3	3.07
Debt-to-Equity	0.30+3.5	-3.22-6.1	2.85+1.4	1.50+0.6	0.94+0.4	0.53-0.2	0.69+0.2	0.46
FCF Margin	-171.8%+37.8pp	-209.6%-118.3pp	-91.3%-15.3pp	-76.0%-10.9pp	-65.1%+34.1pp	-99.2%-77.7pp	-21.5%+489.0pp	-510.5%

Note: The current ratio is below 1.0 (0.87), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is bioAffinity Tech's annual revenue?

bioAffinity Tech (BIAFW) reported $9.4M in total revenue for fiscal year 2024. This represents a 18.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is bioAffinity Tech's revenue growing?

bioAffinity Tech (BIAFW) revenue grew by 18.5% year-over-year, from $7.9M to $9.4M in fiscal year 2024.

Is bioAffinity Tech profitable?

No, bioAffinity Tech (BIAFW) reported a net income of -$9.0M in fiscal year 2024, with a net profit margin of -96.6%.

What is bioAffinity Tech's earnings per share (EPS)?

bioAffinity Tech (BIAFW) reported diluted earnings per share of $-0.75 for fiscal year 2024. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is bioAffinity Tech's EBITDA?

bioAffinity Tech (BIAFW) had EBITDA of -$8.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is bioAffinity Tech's operating margin?

bioAffinity Tech (BIAFW) had an operating margin of -95.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is bioAffinity Tech's net profit margin?

bioAffinity Tech (BIAFW) had a net profit margin of -96.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is bioAffinity Tech's free cash flow?

bioAffinity Tech (BIAFW) generated -$7.3M in free cash flow during fiscal year 2024. This represents a -21.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is bioAffinity Tech's operating cash flow?

bioAffinity Tech (BIAFW) generated -$7.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are bioAffinity Tech's total assets?

bioAffinity Tech (BIAFW) had $6.5M in total assets as of fiscal year 2024, including both current and long-term assets.

What are bioAffinity Tech's capital expenditures?

bioAffinity Tech (BIAFW) invested $79K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does bioAffinity Tech spend on research and development?

bioAffinity Tech (BIAFW) invested $1.5M in research and development during fiscal year 2024.

How many shares does bioAffinity Tech have outstanding?

bioAffinity Tech (BIAFW) had 507,520 shares outstanding as of fiscal year 2024.

What is bioAffinity Tech's current ratio?

bioAffinity Tech (BIAFW) had a current ratio of 0.87 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is bioAffinity Tech's debt-to-equity ratio?

bioAffinity Tech (BIAFW) had a debt-to-equity ratio of 1.50 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is bioAffinity Tech's return on assets (ROA)?

bioAffinity Tech (BIAFW) had a return on assets of -138.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is bioAffinity Tech's cash runway?

Based on fiscal year 2024 data, bioAffinity Tech (BIAFW) had $1.1M in cash against an annual operating cash burn of $7.3M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is bioAffinity Tech's Piotroski F-Score?

bioAffinity Tech (BIAFW) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are bioAffinity Tech's earnings high quality?

bioAffinity Tech (BIAFW) has an earnings quality ratio of 0.80x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can bioAffinity Tech cover its interest payments?

bioAffinity Tech (BIAFW) has an interest coverage ratio of -96.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is bioAffinity Tech?

bioAffinity Tech (BIAFW) scores 30 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.