Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 46

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 46
---
    Histology service fees 
     572,358  
     530,053 
  
    Medical director fees 
     33,897  
     33,193 
  
    Department of Defense observational studies 
     —  
     6,923 
  
    Other revenues 
     4,376  
     23,919 
  
    Total net revenue 
    $3,123,080  
    $4,804,043 

1
Patient services fees include direct billing for CyPath® Lung diagnostic tests and anatomical testing and pathology services wholly unrelated to CyPath®
Lung including those services discontinued due to unprofitability.

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,