Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 45

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 45
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 Three Months Ended  
    Change in 2025 

    June 30,  
    Versus 2024 

    2025  
    2024  
    $  
    % 
  
    Interest (expense) income, net 
    $(8,435) 
    $(17,063) 
    $8,623  
     (14)%
  
    Other income (expense), net 
     (444,990) 
     1  
     (444,991) 
     —)%
  
    Gain (loss) on remeasurement of warrant liabilities 
     (1,062,818) 
     —  
     (1,062,818) 
     —%
  
    Total other (expense) income 
    $(1,516,243) 
    $(17,062) 
    $(1,499,181) 
     8787%

Total
other income (expense), net totaled ($1.5 million) and approximately ($17,000) for the three months ended June 30, 2025 and 2024, respectively.
The increase in the total other expenses of approximately $1.5 million is mostly attributable to the remeasurement of warrant liability
and offering costs related to the May public offering.

Six
Months Ended June 30, 2025, Compared to Six Months Ended June 30, 2024

Net
loss for the six months ended June 30, 2025, was approximately $6.7 million, compared to a net loss of approximately $4.1 million for
the six months ended June 30, 2024.

24

Revenue

Since
acquisition of the clinical pathology laboratory on September 19, 2023, additional revenue streams have been consolidated. PPLS generates
three sources of revenue: (1) patient service fees, (2) histology service fees, and (3) medical director fees. The Company recognizes
as revenue the amount that reflects the consideration to which it expects to be entitled in exchange for goods sold or services rendered
primarily upon completion of the testing process (when results are reported) or when services have been rendered.

    For the Six Months Ended June 30, 

    2025  
    2024 
  
    Patient service fees1 
    $2,512,449  
    $4,209,955