The company's financial position is increasingly vulnerable, with total assets contracting to $7.9M and retained earnings reaching a deficit of $72.2M as of 2026Q1.
| Total Current Assets | 4.34M | 7.57M | 2.7M | 3.97M | 11.96M | 1.44M | 118.66K | 617.51K |
| Cash & Short-Term Investments | 3.1M | 6.45M | 1.11M | 2.82M | 11.41M | 1.36M | 83.11K | 578.48K |
| Cash Only | 3.1M | 6.45M | 1.11M | 2.82M | 11.41M | 1.36M | 83.11K | 578.48K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 685.24K | 541.96K | 1.14M | 811.67K | 10.49K | 1.53K | 1.53K | 1.53K |
| Days Sales Outstanding | 33.83 | 32.1 | 44.41 | 117.01 | 797.1 | - | - | - |
| Inventory | 77.89K | 53.55K | 27.61K | 18.48K | 5.54K | 0 | 28.35K | 0 |
| Days Inventory Outstanding | 4.36 | 4.13 | 1.68 | 3.88 | 4.33K | - | 465.27 | - |
| Other Current Assets | 479.91K | 519.92K | 147.18K | 124.69K | 191.82K | 59.3K | 5.67K | 37.49K |
| Total Non-Current Assets | 3.6M | 3.4M | 3.82M | 4.25M | 220.44K | 15.07K | 26.95K | 41.3K |
| Property, Plant & Equipment | 1.48M | 1.26M | 1.62M | 1.99M | 214.44K | 4.63K | 9.45K | 28.8K |
| Fixed Asset Turnover | 5.09x | 4.88x | 5.78x | 1.27x | 0.02x | - | - | - |
| Goodwill | 1.4M | 1.4M | 1.4M | 1.4M | 0 | 0 | 0 | 0 |
| Intangible Assets | 702.22K | 716.81K | 775.14K | 833.47K | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 12.82K | 12.81K | 19.68K | 16.06K | 6K | 10.44K | 17.5K | 12.5K |
| Total Assets | 7.95M | 10.96M | 6.51M | 8.22M | 12.18M | 1.45M | 145.6K | 658.81K |
| Asset Turnover | 0.64x | 0.56x | 1.44x | 0.31x | 0.00x | - | - | - |
| Asset Growth % | 159.1% | 68.27% | -20.77% | -32.51% | 738.23% | 898.12% | -77.9% | - |
| Total Current Liabilities | 3.18M | 2.91M | 3.1M | 2.25M | 1.14M | 13.04M | 11.12M | 4.69M |
| Accounts Payable | 836.21K | 761.9K | 987.31K | 604.79K | 345.04K | 230.41K | 191.39K | 103.42K |
| Days Payables Outstanding | 76.79 | 58.77 | 60.23 | 126.79 | 269.68K | 17.46K | 3.14K | 937.18 |
| Short-Term Debt | 283.69K | 383.87K | 171.67K | 0 | 251.75K | 11.2M | 9.95M | 4.01M |
| Deferred Revenue (Current) | 135.86K | 42.41K | 24.4K | 33.06K | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.03M | 1.72M | 0 | 857.04K | 340.68K | 0 | 0 | 579.93K |
| Current Ratio | 1.36x | 2.60x | 0.87x | 1.77x | 10.50x | 0.11x | 0.01x | 0.13x |
| Quick Ratio | 1.34x | 2.58x | 0.86x | 1.76x | 10.50x | 0.11x | 0.01x | 0.13x |
| Cash Conversion Cycle | -38.61 | -22.54 | -14.13 | -5.91 | -264.55K | - | - | - |
| Total Non-Current Liabilities | 1.1M | 776.95K | 806.73K | 1.12M | 0 | 4.2M | 4.1M | 0 |
| Long-Term Debt | 1.1M | 776.95K | 20.18K | 0 | 0 | 160.18K | 53.47K | 0 |
| Capital Lease Obligations | 1.25M | 0 | 786.55K | 1.12M | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 4.04M | 4.04M | 0 |
| Total Liabilities | 4.28M | 3.68M | 3.91M | 3.37M | 1.14M | 17.24M | 15.22M | 4.69M |
| Total Debt | 1.38M | 1.16M | 1.5M | 1.58M | 251.75K | 11.36M | 10.01M | 4.01M |
| Net Debt | -1.72M | -5.29M | 395.9K | -1.24M | -11.16M | 10M | 9.92M | 3.43M |
| Debt / Equity | 0.38x | 0.16x | 0.58x | 0.33x | 0.02x | - | - | - |
| Debt / EBITDA | -0.12x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.15x | - | - | - | - | - | - | - |
| Interest Coverage | -362.72x | -238.27x | -96.63x | -212.23x | -2.22x | -5.31x | -18.01x | -14.38x |
| Total Equity | 3.66M | 7.28M | 2.6M | 4.86M | 11.04M | -15.79M | -15.07M | -4.04M |
| Equity Growth % | 357.07% | 179.69% | -46.41% | -56.04% | 169.94% | -4.76% | -273.5% | - |
| Book Value per Share | 0.81 | 4.23 | 6.44 | 16.65 | 73.64 | -173.65 | -61.29 | -16.41 |
| Total Shareholders' Equity | 3.66M | 7.28M | 2.6M | 4.86M | 11.04M | -15.79M | -15.07M | -4.04M |
| Common Stock | 31.46K | 31.46K | 106.59K | 65.76K | 58.67K | 18.74K | 18.72K | 18.72K |
| Retained Earnings | -72.18M | -68.55M | -53.64M | -44.6M | -36.67M | -28.51M | -22.19M | -14.92M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | -4.04M | -4.04M | -18.72K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and capital dilution
As reported in recent financial filings, BIAF's total assets have fluctuated significantly, dropping from $11.5M in 2025Q3 to $7.9M by 2026Q1, signaling a weakening financial position that reflects the company's ongoing struggle to maintain a stable asset base while navigating a period of negative revenue growth.
The contraction in total assets suggests that the company is consuming its resource base to fund operating losses rather than reinvesting in growth. This downward trajectory in asset value, coupled with persistent negative retained earnings, indicates that the business model has yet to achieve the scale necessary for self-sustaining operations.
Based on the company's latest quarterly data, the current ratio has declined to 1.36 as of 2026Q1, down from a peak of 3.65 in 2025Q3, which indicates a tightening liquidity buffer that leaves the firm with limited flexibility to absorb unexpected operational shocks or extended commercial delays.
The rapid compression of the current ratio suggests that cash reserves are being depleted faster than they are being replenished by operations. Investors should monitor the cash runway closely, as the current liquidity profile appears insufficient to support long-term R&D and commercialization efforts without further external financing.
According to historical balance sheet data, BIAF's equity position has been severely eroded by accumulated deficits, with retained earnings reaching -$72.2M as of 2026Q1, a trend that highlights the significant capital destruction inherent in the company's current high-burn, pre-profit diagnostic commercialization strategy.
The negative trend in retained earnings underscores the persistent inability of the company to generate positive net income. This erosion of equity quality suggests that future capital requirements will likely necessitate further dilution of existing shareholders, as the company lacks the internal earnings power to bolster its capital base.
As indicated by the provided financial statements, the company carries $1.4M in goodwill, which represents a substantial portion of its $7.9M total assets, suggesting that the balance sheet may be vulnerable to impairment charges if the commercial performance of the CyPath Lung test continues to underperform.
The presence of significant goodwill on the balance sheet warrants further investigation, as it may mask the true economic value of the company's underlying diagnostic assets. If the market adoption of the test does not accelerate, the carrying value of these intangibles may require downward adjustment, further weakening the equity position.
Quick answers to the most common questions about buying BIAF stock.
As of 2025, bioAffinity Technologies, Inc. (BIAF) had total assets of $11.0M including $7.6M in current assets.
bioAffinity Technologies, Inc. (BIAF) carries total debt of $1.2M, offset by $6.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
bioAffinity Technologies, Inc. (BIAF) has total shareholders' equity (book value) of $7.3M ($4.23 book value per share). Book value represents the net worth of the company belonging to common stock holders.
bioAffinity Technologies, Inc. (BIAF) reported a current ratio of 2.60x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.