Company: BIAF
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001641172-25-008629
Chunk: 93

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 93
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% was primarily attributable to an increase in compensation costs and benefits as we added clinic development personnel.

Selling, General and Administrative

Our selling, general and administrative expenses consist primarily of expenditures related to employee compensation, legal, accounting and tax, other professional services, and general operating expenses.

Selling, general and administrative expenses totaled approximately $9.9 million and $6.8 million for the years ended December 31, 2024 and 2023, respectively. The increase of approximately $3.1 million, or 46% was primarily attributable to the laboratory operations of PPLS being owned for the full fiscal year 2024, compared to approximately 3.5 months in fiscal year 2023. Additionally, the increase was due to the expansion of sales efforts for CyPath ®Lung, partially offset by a reduction in legal and professional fees.

Other Income (Expense)

|                                |     | Year Ended 
   December 
        31, |         |   |     |      |         |   |     | Change in 
 2024      
 Versus    
 2023      |         |   |     |   |      |    |
|:-------------------------------|:----|-----------:|--------:|:--|:----|-----:|--------:|:--|:----|:----------|--------:|:--|:----|:--|-----:|:---|
|                                |     |       2024 |         |   |     | 2023 |         |   |     | $         |         |   |     | % |      |    |
| Interest (expense) income, net |     |          $ | (74,865 | ) |     |    $ |  85,006 |   |     | $         | 159,871 |   |     |   | (188 | )% |
| Other income (expense),        
 net                            |     |            |     129 |   |     |      | (27,796 | ) |     |           | (27,925 | ) |     |   | (100 | )% |
| Total other (expense)          
 income                         |     |          $ | (74,736 | ) |     |    $ |  57,210 |   |     | $         | 131,946 |   |     |   |  231 | %  |

Other net income (expense) totaled $129 and $(27,796