Company: BIAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010787
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Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 7
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This section presents management’s perspective
on our financial condition and results of operations. The following discussion and analysis (the “MD&A”) is intended to
highlight and supplement data and information presented elsewhere in this Quarterly Report and should be read in conjunction with our
interim unaudited condensed consolidated financial statements and notes elsewhere in this Quarterly Report and our audited consolidated
financial statements and the related notes and the discussion under the heading “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” for the year ended December 31, 2024, included in the 2024 Form 10-K. The MD&A is also
intended to provide you with information that will assist you in understanding our consolidated financial statements, the changes in key
items in those consolidated financial statements from year to year, and the primary factors that accounted for those changes. To the extent
that this discussion describes prior performance, the descriptions relate only to the periods listed, which may not be indicative of our
future financial outcomes. In addition to historical information, this discussion contains forward-looking statements that involve risks,
uncertainties, and assumptions that could cause the Company’s financial results to differ materially from management’s expectations.
Factors that could cause such differences are discussed in the “Cautionary Note Regarding Forward-Looking Statements” section
of this Quarterly Report and in the “Risk Factors” section of the 2024 Form 10-K.

Data as of and for the three months ended March 31,
2025 and 2024, has been derived from our unaudited condensed consolidated financial statements appearing at the beginning of this Quarterly
Report. Results for any interim period should not be construed as an inference of what our results would be for any full fiscal year or
future period.

Our MD&A is organized as follows:

    ●
    Company Overview – Discussion of our business plan and strategy to provide context for the remainder of the MD&A.

    ●
    Results of Operations – Analysis of our financial results comparing three months ended March 31, 2025, to the comparable period in 2024.

    ●
    Liquidity and Capital Resources – Analysis of changes in our cash flows and discussion of our financial condition and potential sources of liquidity.

    ●
    Critical Accounting Estimates – Accounting estimates that we believe are important to understanding the assumptions and judgments incorporated in our reported financial results and forecasts.

Company Overview

Business

We develop noninvasive diagnostics to detect early-stage
lung cancer and other diseases of the lung using flow