---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-020059"
form_type: "8-K"
ticker: "BIAF"
cik: "0001712762"
company_name: "bioAffinity Technologies, Inc."
filed_at: "2024-05-16T23:59:59+00:00"
generated_at: "2026-06-01T21:29:17.634337+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# bioAffinity Q1 revenue $2.4M record; raises CyPath Lung forecast 35%

## Summary
- Q1 2024 revenue $2.4M vs $921 prior-year; net loss $2.1M ($0.21 per share) vs $1.5M ($0.18).
- CyPath Lung orders annualized growth 547% in first 4 months vs full-year 2023; April up 21% MoM.
- Raised 2024 CyPath Lung sales forecast 35%; PPLS subsidiary revenue forecast $9.2-9.6M (up 23%).
- Medicare reimbursement for CyPath Lung effective Jan 1, 2024; adoption expanding beyond Texas.
- Closed $2.5M registered direct offering; cash $2.5M at March 31, 2024 vs $2.8M Dec 31, 2023.

## SEC filing metadata
- accession: 0001493152-24-020059
- form_type: 8-K
- ticker: BIAF
- cik: 0001712762
- company_name: bioAffinity Technologies, Inc.
- filed_at: 2024-05-16T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1712762/000149315224020059/0001493152-24-020059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1712762/000149315224020059/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-020059
- JSON: https://secwatch.observer/filing/0001493152-24-020059.json
- Plain text: https://secwatch.observer/filing/0001493152-24-020059.txt

## Key facts
- Earnings Releases
  bioAffinity Technologies, Inc. reported the three months ended March 31, 2024 results: revenue $2.4 million, net income $2.1 million, EPS $0.21 per share. Guidance raised.
  - Period: the three months ended March 31, 2024
  - Revenue: $2.4 million
  - Net income: $2.1 million
  - EPS: $0.21 per share
  - Guidance: raised
  - Result: reported results
  source text: First Quarter Financial Results Revenue for the first quarter of 2024 was $2.4 million, compared with $921 revenue for the prior-year period. The majority of the year-over-year increase is through the acquisition of Precision Pathology Laboratory Services. Revenue is primarily generated from patient service fees, including billing for CyPath ® Lung tests, with additional revenues generated from histology service fees and medical director fees. Research and development expenses were $394,000 for the first quarter of 2024, compared with $370,000 for the comparable period in 2023. The increase was primarily due to higher compensation costs for additional research personnel and higher R&D laboratory supply costs. Clinical development expenses were $49,000 for the first quarter of 2024, compared with $20,000 for the first quarter of 2023. The increase was primarily due to an increase in compensation costs and benefits from the addition of new clinical development personnel. Selling, general
  evidence_url: https://www.sec.gov/Archives/edgar/data/1712762/000149315224020059/0001493152-24-020059-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.