Company: BIAF
Filing Date: 2025-06-27
Form Type: POS AM
Source: 0001641172-25-016923
Chunk: 194

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-06-27
Form: POS AM
Chunk 194
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 or services rendered primarily upon completion of the testing process (when results are reported) or when services have been rendered.

The Company follows a standard process, which considers historical denial and collection experience and other factors (including the period of time that the receivables have been outstanding), to estimate contractual allowances and implicit price concessions, recording adjustments in the current period as changes in estimates. The process for estimating revenues and the ultimate collection of accounts receivable involves significant judgment and estimation.

Pre-acquisition, bioAffinity’s revenue was generated in three ways: (1) royalties from the Company’s diagnostic test, CyPath ®Lung, (2) clinical flow cytometry services provided to Village Oaks related to the Company’s CyPath ®Lung test, and (3) CyPath ®Lung tests purchased by the U.S. Department of Defense (“DOD”) for an observational study, “Detection of Abnormal Respiratory Cell Populations in Lung Cancer Screening Patients Using the CyPath ®Lung Assay (NCT05870592),” and research and development on using bronchoalveolar lavage fluid as a biological sample to assess cardiopulmonary function and exercise performance in military personnel post COVID-19 infection. The royalty income from CyPath ®Lung and clinical flow cytometry services income, beginning September 19, 2023, are related party income and, therefore, eliminated from consolidated net revenues.

SCHEDULE OF REVENUE RECOGNITION

|                                             |     | Year     
 Ended    
 December 
 31,      |      2024 |     |   |      2023 |
|:--------------------------------------------|:----|:---------|----------:|:----|:--|----------:|
| Patient service                             
 fees1                                       |     | $        | 8,175,670 |     | $ | 2,199,558 |
| Histology service fees                      |     |          | 1,103,751 |     |   |   272,660 |
| Medical director fees                       |     |          |    66,576 |     |   |    19,324 |
| Department of Defense observational studies |     |          |     8,654 |     |   |    19,442 |
| Other revenues                              |     |          |     7,371 |     |   |    21,515 |
| Total                                       
 net revenue                                 |     | $        | 9,362,022 |     | $ |