--- title: "BIOAFFINITY TECHNOLOGIES INC C/WTS 07/09/2027 (TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 1.352 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/286031561.md" datetime: "2026-05-12T03:57:16.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286031561.md) - [en](https://longbridge.com/en/news/286031561.md) - [zh-HK](https://longbridge.com/zh-HK/news/286031561.md) --- # BIOAFFINITY TECHNOLOGIES INC C/WTS 07/09/2027 (TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 1.352 M Revenue: As of FY2026 Q1, the actual value is USD 1.352 M. EPS: As of FY2026 Q1, the actual value is USD -0.81. EBIT: As of FY2026 Q1, the actual value is USD -3.612 M. #### Segment Revenue - **Diagnostic R&D**: Revenue was $1,131 for the three months ended March 31, 2026, compared to $0 for the same period in 2025, primarily from Department of Defense observational studies . - **Laboratory Services**: Revenue was $1,350,396 for the three months ended March 31, 2026, a decrease from $1,853,597 for the same period in 2025 . - **Total Net Revenue**: Total net revenue decreased by approximately 36% to $1.4 million for the three months ended March 31, 2026, from $1.9 million for the three months ended March 31, 2025, due to discontinuing certain unprofitable pathology services, partially offset by increased revenue from the CyPath® Lung diagnostic test . #### Operational Metrics - **Net Loss**: The company reported a net loss of approximately -$3.6 million for the three months ended March 31, 2026, compared to approximately -$2.7 million for the same period in 2025 . - **Total Operating Expenses**: Increased by 11% to approximately $5.0 million for the three months ended March 31, 2026, from $4.5 million for the same period in 2025 . - **Diagnostic R&D Operating Expenses**: -$683,747 for the three months ended March 31, 2026, an increase from -$505,739 for the same period in 2025 . - **Laboratory Services Operating Expenses**: -$1,832,592 for the three months ended March 31, 2026, a decrease from -$2,267,656 for the same period in 2025 . - **General Corporate Activities Operating Expenses**: -$2,452,164 for the three months ended March 31, 2026, an increase from -$1,707,341 for the same period in 2025 . - **Direct Costs and Expenses**: Decreased by 32% to $0.9 million for the three months ended March 31, 2026, from $1.4 million for the same period in 2025, due to strategic actions to streamline operations and reduce lab costs . - **Research and Development Expenses**: Decreased by 5% to approximately $349,000 for the three months ended March 31, 2026, from $367,000 for the same period in 2025, primarily due to lower compensation costs, benefits, and lab supplies . - **Clinical Development Expenses**: Increased by 141% to approximately $334,000 for the three months ended March 31, 2026, from $138,000 for the same period in 2025, mainly due to the commencement of a pivotal clinical trial . - **Selling, General and Administrative Expenses**: Increased by 32% to approximately $3.2 million for the three months ended March 31, 2026, from $2.5 million for the same period in 2025, primarily due to increased employee compensation for administrative and sales personnel to support CyPath® Lung sales growth . - **Depreciation and Amortization**: Decreased by 26% to $115,000 for the three months ended March 31, 2026, from $155,000 for the same period in 2025, primarily due to the termination of a financing lease . #### Cash Flow - **Net Cash Used in Operating Activities**: -$3.2 million for the three months ended March 31, 2026, an increase from -$1.6 million for the same period in 2025, primarily due to a $970,000 rise in loss from operations, a $352,000 decrease related to stock compensation and depreciation, and a $318,000 increase in patient accounts receivables, partially offset by a $20,000 increase in accounts payable and accrued expenses . - **Net Cash Used in Investing Activities**: -$6,000 for the three months ended March 31, 2026, compared to -$51,000 for the same period in 2025, primarily for the purchase of computer and laboratory equipment . - **Net Cash Used in Financing Activities**: -$0.1 million for the three months ended March 31, 2026, compared to $1.0 million provided by financing activities for the same period in 2025, reflecting no capital raises in Q1 2026 versus additional capital raised in Q1 2025 . - **Cash and Cash Equivalents**: $3.0 million at March 31, 2026, and $1.7 million at May 4, 2026 . #### Unique Metrics - **CyPath® Lung Unit Sales Growth**: Unit sales achieved 146% growth in the first quarter of 2026 compared to the first quarter of 2025 . - **CyPath® Lung Testing Revenue**: Increased approximately 114% to $361,000 for the three months ended March 31, 2026, from $169,000 for the same period in 2025 . - **Accumulated Deficit**: -$72.2 million as of March 31, 2026 . - **Working Capital**: Approximately $1.2 million as of March 31, 2026 . #### Future Outlook and Strategy - **Going Concern**: Management has substantial doubt about the company’s ability to continue as a going concern for at least twelve months, as current cash and anticipated revenue are expected to support operations only through June 2026 . Additional capital is required through various means to fund future operations and commercialization efforts . - **Core Business Focus**: bioAffinity Technologies, Inc. is developing noninvasive diagnostics for early-stage lung cancer and other lung diseases using flow cytometry and AI-driven automated analysis, with its subsidiary Precision Pathology Laboratory Services, LLC (PPLS) offering the CyPath® Lung diagnostic test . - **Therapeutic Development**: Through its subsidiary OncoSelect® Therapeutics, LLC, the company is advancing novel cancer therapeutic approaches that specifically target cancer cells and intends to seek strategic partners for development . - **Clinical Trials**: In March 2026, the company enrolled its first patient in a pivotal clinical trial (NCT07168993) for CyPath® Lung, supported by the John P. 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