UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______. Commission File Number: 001-41463 bioAffinity Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 46-5211056 (Sta ...

Exhibit 99.1 bioAffinity Technologies Reports Second Quarter 2025 Results CyPath Lung revenues up 62% year-over-year in first six months of 2025 SAN ANTONIO, Texas (August 14, 2025) – bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company focused on providing noninvasive, accurate detection of early-stage lung cancer and other lung diseases, today reported financial results for the three months ended June 30, 2025. Key Highlights Second Quarter 2025 Financial Results -1- ● Increased C ...

Core Insights - bioAffinity Technologies, Inc. (BIAF) reported a revenue decline of 22.9% year-over-year for Q1 2025, totaling $1.9 million, primarily due to changes in revenue contributions from various services [2] - Despite the revenue drop, the net loss per share improved to $0.16 from $0.20 in the previous year, although the absolute loss increased to $2.7 million from $1.9 million due to a higher share count [2] - The company's flagship diagnostic, CyPath Lung, experienced a significant sales increase of 276% year-over-year, indicating strong market acceptance and operational scaling [3] - Management is implementing strategic changes, including discontinuing low-margin services and cutting costs, expected to save approximately $3.8 million annually [4] - The company ended the quarter with $0.4 million in cash but has since raised $1.4 million through warrant exercises and $3.3 million via a public offering to support commercialization and clinical development [7] - bioAffinity received acceptance of a patent application for CyPath Lung from the Australian Patent Office, enhancing its international commercialization potential [9] Financial Performance - Revenues for Q1 2025 were $1.9 million, down from $2.4 million in Q1 2024 [2] - Operating expenses increased by 2.9% to $4.5 million, while direct costs declined by 13.1% to $1.4 million [2] - R&D expenses fell by 6.7% to $367,386, but clinical development expenses rose sharply from $48,960 to $138,353 [2] Strategic Initiatives - The company is focusing on commercial execution and operational changes to support CyPath Lung's growth [5] - Recent enhancements in test processing increased data acquisition throughput by 50% and reduced per-test costs by over 25% [6] - Management's strategic pivot aims to concentrate resources on high-margin diagnostics while improving overall profitability [4] Market Position and Future Outlook - The company did not provide forward-looking financial guidance but indicated a continued focus on expanding CyPath Lung's market presence [8] - The strong demand for CyPath Lung is supported by over 600 tests delivered in 2024, with continued momentum into 2025 [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______. COMMISSION FILE NUMBER: 001-41463 (Exact name of registrant as specified in its charter) Delaware 46-5211056 (State or other jurisdiction of in ...

Exhibit 99.1 bioAffinity Technologies Reports First Quarter 2025 Results CyPathLung sales up 276% year-over-year SAN ANTONIO, Texas (May 15, 2025) – bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company focused on the need for accurate, noninvasive tests for the detection of early-stage lung cancer and other lung diseases, today reported financial results for the three months ended March 31, 2025. Key Highlights Management Commentary "We began 2025 with strong momentum, delivering 27 ...

JERSEY CITY, N.J., May 7, 2025 /PRNewswire/ -- WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announced today that bioAffinity Technologies, Inc. (NASDAQ: BIAF, BIAFW) a biotechnology company focused on the need for noninvasive tests for the detection of early-stage cancer, has closed its previously announced best efforts offering of securities as described below for aggregate gross proceeds to the Company of $3.25 million, before deducting agent fees an ...

Shares of bioAffinity Technologies, Inc. (BIAF) have surged 160.9% since the company reported its financial results for the year ended Dec. 31, 2024. In stark contrast, the S&P 500 Index declined 8.9% during the same period. Over the past month, BIAF stock notched an impressive gain of 89.3%, outperforming the S&P 500’s 9.7% slide.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Revenue Growth and Profitability MetricsbioAffinity reported record revenues of $9.4 million for 2024, marki ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024. (Exact name of registrant as specified in its charter) Delaware 46-5211056 (State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.) 3300 Nacogdoches Road, Suite 216, San Antonio, Texas 78217 (Address of principal executive offices) (Zip Code) (210) 698-5334 OR ...

Revenue Growth - Record revenue of $9.4 million in 2024, a 270% increase from $2.5 million in 2023[3] - Net revenue for 2024 reached $9,362,022, a significant increase from $2,532,499 in 2023, representing a growth of approximately 269%[21] - Anticipated total revenue for 2025 is projected to be between $6 million to $8 million, including $1 to $2 million from CyPath lung tests[4] Product Adoption - CyPath® Lung orders increased by approximately 1,400% compared to full-year 2023, indicating strong physician adoption[3] - The number of signed physician offices grew by over 300% in 2024, positioning the company for continued growth in 2025[3] Operating Expenses - Operating expenses for 2024 totaled $18.3 million, up from $10.5 million in 2023, reflecting expanded operations and increased marketing efforts[11] - Total operating expenses for 2024 were $18,315,467, up from $10,505,727 in 2023, indicating a rise of about 74%[21] - Selling, general and administrative expenses rose to $9,943,473 in 2024 from $6,790,654 in 2023, marking an increase of approximately 46%[21] Net Loss - Net loss for 2024 was $9.0 million, or $0.75 per share, compared to a net loss of $7.9 million, or $0.91 per share, in 2023[13] - Loss from operations increased to $(8,953,445) in 2024 compared to $(7,973,228) in 2023, reflecting a deterioration of approximately 12%[21] - Net loss for 2024 was $(9,039,831), compared to $(7,937,011) in 2023, which is an increase of about 14%[21] - Net loss per common share improved to $(0.75) in 2024 from $(0.91) in 2023, showing a reduction in loss per share by approximately 17%[21] Cash Position - Cash and cash equivalents decreased to $1.1 million as of December 31, 2024, down from $2.8 million in 2023[14] Research and Development - Research and development expenses remained relatively stable at $1,461,227 in 2024 compared to $1,467,936 in 2023, showing a slight decrease of about 0.5%[21] Clinical Trials and Patents - The FDA pivotal study protocol has been submitted for a clinical trial expected to enroll approximately 3,500 patients in 2025[8] - The company received a patent from the Japan Patent Office for its method using flow cytometry to predict lung disease[7] Economic Impact - The economic validation study indicated potential savings of $379 million for Medicare patients and $895 million for private insurance patients if CyPath® Lung is added to standard care[3] Interest Income and Expense - Interest income decreased to $17,610 in 2024 from $122,131 in 2023, a decline of about 86%[21] - Interest expense increased significantly to $(92,475) in 2024 from $(37,125) in 2023, representing an increase of approximately 149%[21] Shareholder Information - Weighted average common shares outstanding increased to 12,125,029 in 2024 from 8,747,509 in 2023, a rise of about 39%[21]

Group 1 - bioAffinity Technologies, Inc. has closed warrant exercise agreements with four accredited investors, resulting in the exercise of 2,438,473 shares of common stock for gross cash proceeds of approximately $1.4 million [1][2] - In exchange for the immediate exercise of existing warrants, the investors will receive new unregistered warrants to purchase up to 2,926,166 shares of common stock at an exercise price of $0.85 per share, which is 120% of the shares issued from the existing warrants [1] - The exercise price of the existing warrants has been reduced from $1.50 to $0.58 per share as part of this transaction [1] Group 2 - WallachBeth Capital is acting as the sole placement agent for the warrant inducement transaction [2] - The gross proceeds from the warrant inducement are expected to be approximately $1.4 million, excluding any proceeds from the exercise of the new warrants and before deducting placement agent fees and other offering expenses [2]