BIAFW · bioAffinity Technologies, Inc.

bioAffinity Technologies’ Q1 2026 results reflect a deliberate strategic pivot: total revenue declined 27% year-over-year to $1.4 million, primarily due to the March 2025 discontinuation of unprofitable pathology services to sharpen focus on higher-margin CyPath® Lung testing. This trade-off is evident in the stark divergence between overall revenue and CyPath® Lung-specific performance—testing revenue surged 114% to $361,000, and unit sales jumped 146% year-over-year, signaling strong early commercial traction. The expansion of physician offices ordering CyPath® Lung by 69% further validates growing clinical adoption. Operationally, expenses rose to $5.0 million (from $4.5 million), driven by a $700,000 increase in SG&A tied to commercial scaling—including new sales and administrative personnel—and higher clinical development costs ($334,000) supporting the newly launched DoD-funded longitudinal trial. While net loss widened to $3.6 million, the per-share loss improved dramatically to $(0.81) from $(4.80), attributable to a near-8.3x increase in weighted-average shares outstanding (4.5M vs. 0.54M), reflecting dilution from prior financings. Management emphasized that growth acceleration is expected throughout 2026 via expanded geographic reach, physician education, and pipeline advancement—including companion diagnostics for asthma and COPD using its flow cytometry+AI platform. Critically, cash declined to $3.1 million from $6.4 million in just three months, underscoring near-term liquidity pressure amid continued investment; no forward revenue or EPS guidance was quantified, though management reiterated expectations of accelerating growth and broader standard-of-care adoption supported by clinical evidence and expert endorsement.