bioAffinity Technologies, Inc. (BIAF) 10-Year Financial Performance & Capital Metrics

BIAF • • Industrial / General

HealthcareDiagnostics & ResearchCancer Diagnostics & Oncology TestingLiquid Biopsy & Circulating Tumor DNA

AboutbioAffinity Technologies, Inc., a biotechnology company, engages in developing non-invasive diagnostic tests and targeted cancer therapeutics. The company offers CyPath lung, a diagnostic test, for early detection of lung cancer. It also researches targeted therapies to treat cancer at the cellular level. The company was founded in 2014 and is based in San Antonio, Texas.Show more

Revenue $9M +269.7%
EBITDA -$8M -8.1%
Net Income -$9M -13.9%
EPS (Diluted) -22.50 +17.6%
Gross Margin 36.09% +15.4%
EBITDA Margin -89.16% +70.8%
Operating Margin -95.63% +69.6%
Net Margin -96.56% +69.2%
ROE -242.45% -142.8%
ROIC -203.16% +40.7%
Debt/Equity 0.58 +77.4%
Interest Coverage -96.82 +54.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 0.2x book value
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 2 (bottom 2%)
✗Shares diluted 38.7% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-27.66%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-74.51%

EPS CAGR

10Y-

5Y-

3Y-

TTM15.19%

ROCE

10Y Avg-106.96%

5Y Avg-106.96%

3Y Avg-106.96%

Latest-190.84%

Peer Comparison

Liquid Biopsy & Circulating Tumor DNA

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
BIAFbioAffinity Technologies, Inc.	6.39M	1.42	-0.06	269.75%	-217.5%	-165.57%	0.58
VNRXVolitionRx Limited	35.61M	0.29	-0.94	59.1%	-15.54%
BDSXBiodesix, Inc.	66.27M	8.33	-1.26	45.3%	-49.31%	-337.3%	2.97
GRALGRAIL, Inc.	3.8B	97.44	-1.53	34.9%	-286.43%	-18.14%	0.03
GHGuardant Health, Inc.	14.54B	111.98	-31.46	31.04%	-44.18%	-45.84%
ADVBAdvanced Biomed Inc. Common Stock	6.86M	0.32	-67.45		-135.32%	-77.48%	0.00

Profit & Loss

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	4.8K	2.53M	9.36M
Revenue Growth %	-	-	-	-	526.17%	2.7%
Cost of Goods Sold+	40.28K	22.24K	4.82K	467	1.74M	5.98M
COGS % of Revenue	-	-	-	0.1%	0.69%	0.64%
Gross Profit+	-40.28K	-22.24K	-4.82K	4.34K	791.62K	3.38M
Gross Margin %	-	-	-	0.9%	0.31%	0.36%
Gross Profit Growth %	-	0.45%	0.78%	1.9%	181.57%	3.27%
Operating Expenses+	3.05M	2.58M	2.2M	4.02M	8.77M	12.33M
OpEx % of Revenue	-	-	-	836.02%	3.46%	1.32%
Selling, General & Admin	1.2M	972.1K	875.96K	2.48M	6.79M	9.94M
SG&A % of Revenue	-	-	-	516.56%	2.68%	1.06%
Research & Development	1.85M	1.61M	1.33M	1.52M	1.73M	1.78M
R&D % of Revenue	-	-	-	317.34%	0.68%	0.19%
Other Operating Expenses	0	0	0	10.18K	249.59K	606K
Operating Income+	-3.09M	-2.6M	-2.21M	-4.01M	-7.97M	-8.95M
Operating Margin %	-	-	-	-835.12%	-3.15%	-0.96%
Operating Income Growth %	-	0.16%	0.15%	-0.82%	-0.99%	-0.12%
EBITDA+	-3.05M	-2.58M	-2.2M	-4M	-7.72M	-8.35M
EBITDA Margin %	-	-	-	-833%	-3.05%	-0.89%
EBITDA Growth %	-	0.15%	0.15%	-0.82%	-0.93%	-0.08%
D&A (Non-Cash Add-back)	40.28K	22.24K	4.82K	10.18K	249.59K	605.64K
EBIT	-3.09M	-6.88M	-5.32M	-5.62M	-7.88M	-8.94M
Net Interest Income+	-212K	-381K	-1M	-2.49M	85.01K	-74.86K
Interest Income	2.78K	0	424	46.71K	122.13K	17.61K
Interest Expense	214.83K	382.17K	1M	2.53M	37.13K	92.47K
Other Income/Expense	-212.06K	-4.66M	-4.12M	-4.14M	57.21K	-75.35K
Pretax Income+	-3.3M	-7.27M	-6.32M	-8.15M	-7.92M	-9.03M
Pretax Margin %	-	-	-	-1697.2%	-3.13%	-0.96%
Income Tax+	3.2K	2.75K	1.95K	2.46K	20.99K	11.65K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%
Net Income+	-3.31M	-7.27M	-6.33M	-8.15M	-7.94M	-9.04M
Net Margin %	-	-	-	-1697.71%	-3.13%	-0.97%
Net Income Growth %	-	-1.2%	0.13%	-0.29%	0.03%	-0.14%
Net Income (Continuing)	-3.31M	-7.27M	-6.33M	-8.15M	-7.94M	-9.04M
Discontinued Operations	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0
EPS (Diluted)+	-13.50	-29.70	-25.80	-54.30	-27.30	-22.50
EPS Growth %	-	-1.2%	0.13%	-1.1%	0.5%	0.18%
EPS (Basic)	-13.50	-29.70	-25.80	-54.30	-27.30	-22.50
Diluted Shares Outstanding	245.93K	245.93K	245.93K	149.97K	291.6K	404.33K
Basic Shares Outstanding	245.93K	245.93K	245.93K	149.97K	291.6K	404.33K
Dividend Payout Ratio	-	-	-	-	-	-

Balance Sheet

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	617.51K	118.66K	1.44M	11.96M	3.97M	2.7M
Cash & Short-Term Investments	578.48K	83.11K	1.36M	11.41M	2.82M	1.11M
Cash Only	578.48K	83.11K	1.36M	11.41M	2.82M	1.11M
Short-Term Investments	0	0	0	0	0	0
Accounts Receivable	1.53K	1.53K	1.53K	10.49K	811.67K	1.14M
Days Sales Outstanding	-	-	-	797.1	117.01	44.41
Inventory	0	28.35K	0	5.54K	18.48K	27.61K
Days Inventory Outstanding	-	465.27	-	4.33K	3.88	1.68
Other Current Assets	37.49K	5.67K	59.3K	191.82K	124.69K	147.18K
Total Non-Current Assets+	41.3K	26.95K	15.07K	220.44K	4.25M	3.82M
Property, Plant & Equipment	28.8K	9.45K	4.63K	214.44K	1.99M	1.62M
Fixed Asset Turnover	-	-	-	0.02x	1.27x	5.78x
Goodwill	0	0	0	0	1.4M	1.4M
Intangible Assets	0	0	0	0	833.47K	775.14K
Long-Term Investments	0	0	0	0	0	0
Other Non-Current Assets	12.5K	17.5K	10.44K	6K	16.06K	19.68K
Total Assets+	658.81K	145.6K	1.45M	12.18M	8.22M	6.51M
Asset Turnover	-	-	-	0.00x	0.31x	1.44x
Asset Growth %	-	-0.78%	8.98%	7.38%	-0.33%	-0.21%
Total Current Liabilities+	4.69M	11.12M	13.04M	1.14M	2.25M	3.1M
Accounts Payable	103.42K	191.39K	230.41K	345.04K	604.79K	987.31K
Days Payables Outstanding	937.18	3.14K	17.46K	269.68K	126.79	60.23
Short-Term Debt	4.01M	9.95M	11.2M	251.75K	0	171.67K
Deferred Revenue (Current)	0	0	0	0	33.06K	24.4K
Other Current Liabilities	579.93K	0	0	340.68K	857.04K	0
Current Ratio	0.13x	0.01x	0.11x	10.50x	1.77x	0.87x
Quick Ratio	0.13x	0.01x	0.11x	10.50x	1.76x	0.86x
Cash Conversion Cycle	-	-	-	-264.55K	-5.91	-14.13
Total Non-Current Liabilities+	0	4.1M	4.2M	0	1.12M	806.73K
Long-Term Debt	0	53.47K	160.18K	0	0	20.18K
Capital Lease Obligations	0	0	0	0	1.12M	786.55K
Deferred Tax Liabilities	0	0	0	0	0	0
Other Non-Current Liabilities	0	4.04M	4.04M	0	0	0
Total Liabilities	4.69M	15.22M	17.24M	1.14M	3.37M	3.91M
Total Debt+	4.01M	10.01M	11.36M	251.75K	1.58M	1.5M
Net Debt	3.43M	9.92M	10M	-11.16M	-1.24M	395.9K
Debt / Equity	-	-	-	0.02x	0.33x	0.58x
Debt / EBITDA	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-
Interest Coverage	-14.39x	-6.81x	-2.20x	-1.58x	-214.76x	-96.82x
Total Equity+	-4.04M	-15.07M	-15.79M	11.04M	4.86M	2.6M
Equity Growth %	-	-2.74%	-0.05%	1.7%	-0.56%	-0.46%
Book Value per Share	-16.41	-61.29	-64.21	73.64	16.65	6.44
Total Shareholders' Equity	-4.04M	-15.07M	-15.79M	11.04M	4.86M	2.6M
Common Stock	18.72K	18.72K	18.74K	58.67K	65.76K	106.59K
Retained Earnings	-14.92M	-22.19M	-28.51M	-36.67M	-44.6M	-53.64M
Treasury Stock	0	0	0	0	0	0
Accumulated OCI	-18.72K	-4.04M	-4.04M	0	0	0
Minority Interest	0	0	0	0	0	0

Cash Flow

	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-2.49M	-2.21M	-2.05M	-4.07M	-6.04M	-7.26M
Operating CF Margin %	-	-	-	-847.56%	-2.38%	-0.78%
Operating CF Growth %	-	0.11%	0.07%	-0.99%	-0.48%	-0.2%
Net Income	-3.31M	-7.27M	-6.33M	-8.15M	-7.94M	-9.04M
Depreciation & Amortization	40.28K	22.24K	4.82K	10.18K	249.59K	605.64K
Stock-Based Compensation	0	275.73K	43.01K	248.59K	748.82K	989.68K
Deferred Taxes	0	0	3.84M	0	0	0
Other Non-Cash Items	455.01K	4.28M	-244.35K	3.71M	0	0
Working Capital Changes	322.01K	482.62K	632.82K	114.2K	900.79K	179.72K
Change in Receivables	290	0	0	-8.96K	311.37K	-327.53K
Change in Inventory	0	0	0	-5.54K	-12.94K	-9.12K
Change in Payables	-39.82K	87.97K	39.02K	114.64K	-14.5K	382.52K
Cash from Investing+	-11.4K	-2.89K	0	-219.99K	-2.21M	-79.08K
Capital Expenditures	-11.4K	-2.89K	0	-219.99K	-22.9K	-79.08K
CapEx % of Revenue	-	-	-	45.8%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-
Investments	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0
Cash from Financing+	2.33M	1.72M	3.33M	14.34M	-344.98K	5.63M
Debt Issued (Net)	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-
Other Financing	0	0	3.11M	7.73M	0	1.45M
Net Change in Cash	-	-	-	-	-	-
Free Cash Flow+	-2.5M	-2.21M	-2.05M	-4.29M	-6.06M	-7.34M
FCF Margin %	-	-	-	-893.36%	-2.39%	-0.78%
FCF Growth %	-	0.12%	0.07%	-1.09%	-0.41%	-0.21%
FCF per Share	-10.17	-8.99	-8.33	-28.61	-20.78	-18.16
FCF Conversion (FCF/Net Income)	0.75x	0.30x	0.32x	0.50x	0.76x	0.80x
Interest Paid	0	0	0	2.46K	37.13K	17.61K
Taxes Paid	0	2.75K	1.95K	30.64K	20.99K	11.65K

Key Ratios

Metric	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	-73.84%	-99.84%	-242.45%
Return on Invested Capital (ROIC)	-	-	-	-	-342.31%	-203.16%
Gross Margin	-	-	-	90.28%	31.26%	36.09%
Net Margin	-	-	-	-169771.25%	-313.47%	-96.56%
Debt / Equity	-	-	-	0.02x	0.33x	0.58x
Interest Coverage	-14.39x	-6.81x	-2.20x	-1.58x	-214.76x	-96.82x
FCF Conversion	0.75x	0.30x	0.32x	0.50x	0.76x	0.80x
Revenue Growth	-	-	-	-	52617.05%	269.75%

Revenue by Segment

	2023	2024
Health Care, Patient Service	-	516K
Health Care, Patient Service Growth	-	-
Other Revenues	21.52K	-
Other Revenues Growth	-	-
Health Care, Other	19.32K	-
Health Care, Other Growth	-	-

Frequently Asked Questions

Growth & Financials

bioAffinity Technologies, Inc. (BIAF) reported $6.8M in revenue for fiscal year 2024.

bioAffinity Technologies, Inc. (BIAF) grew revenue by 269.7% over the past year. This is strong growth.

bioAffinity Technologies, Inc. (BIAF) reported a net loss of $14.7M for fiscal year 2024.

Dividend & Returns

bioAffinity Technologies, Inc. (BIAF) has a return on equity (ROE) of -242.4%. Negative ROE indicates the company is unprofitable.

bioAffinity Technologies, Inc. (BIAF) had negative free cash flow of $8.5M in fiscal year 2024, likely due to heavy capital investments.

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