Company: BIAF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024163
Chunk: 48

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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selling, general and administrative expenses consist primarily of expenditures related to employee compensation, selling and marketing
costs, legal, accounting and tax, and other professional services, and general operating expenses.

Selling,
general and administrative expenses totaled approximately $4.7 million for each of the six months ended June 30, 2025 and 2024, respectively.
Our selling, general and administrative costs stayed level as a result of decreases in aimed at streamlining operations and reducing
costs in our lab operations, offset by increases in employee compensation related to the addition of additional personnel and support
services to support sales of our diagnostic test, CyPath® Lung.

25

Depreciation
and Amortization

Depreciation
and amortization expenses totaled approximately $268,000 and $300,00 for the six months ended June 30, 2025 and 2024, respectively. The
decrease of approximately $33,000, or 11%, for the six months ended June 30, 2025, compared to the same period in 2024 was primarily
attributable to the termination of a financing lease in April 2025 due to the Company’s targeted strategic actions announced in
March 2025.

    Six Months Ended  
    Change in 2025 

    June 30,  
    Versus 2024 

    2025  
    2024  
    $  
    % 
  
    Interest (expense) income, net 
    $(23,378) 
    $(34,486) 
    $11,108  
     (32)%
  
    Other income (expense), net 
     (454,630) 
     4,511  
     (459,141) 
     (10,178)%
  
    Gain (loss) on remeasurement of warrant liabilities 
     (1,062,818) 
     —  
     (1,062,818) 
     —%
  
    Total other (expense) income 
    $(1,540,826) 
    $(29,975) 
    $(1,510,851) 
     5,040%

Other
Income (Expense)

Total
other income (expense), net totaled ($1.5 million) and approximately $(30,000) for the six months ended June 30, 2025 and 2024, respectively.
The increase in the total