Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 73

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 7
Chunk 73
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Consolidated
revenue decreased approximately $1.7 million, or 35%, to $3.1 million for the six months ended June 30, 2025, as compared to $4.8 million
for the three months ended June 30, 2024, primarily as a result of the Company’s targeted strategic actions to discontinue certain
unprofitable pathology services, and drive sales growth for CyPath® Lung. CyPath® Lung testing revenue increased approximately
$116,000, or 56%, to $323,000 for the six months ended June 30, 2025, compared to $207,000 for the six months ended June 30, 2024, as
a result of a total of 390 test results delivered for the three months ended June 30, 2025, compared to 221 tests for the six months
ended June 30, 2024

Operating
Expenses

    Six
    Months Ended  
    Change
    in 2025 

    June
    30,  
    Versus
    2024 

    2025  
    2024  
    $  
    % 
  
    Operating expenses: 

    Direct
    costs and expenses 
    $2,384,462  
    $2,981,151  
    $(596,689) 
     (20)%
  
    Research
    and development 
     678,758  
     796,072  
     (117,314) 
     (15)%
  
    Clinical
    development 
     267,632  
     100,422  
     167,210,  
     167%
  
    Selling,
    general and administrative 
     4,667,110  
     4,658,719  
     8,391  
     0%
  
    Depreciation
    and amortization 
     267,817  
     300,707  
     (32,890) 
     %
  
    Total
    operating expenses 
    $8,265,779  
    $8,837,071  
    $(571,292) 
     (6)%

Operating
expenses totaled approximately $8.3 million and $8.8 million during the six months ended June 30, 2025 and 202