Earnings Releases·Nov 6, 2026, 5:28 PM ET

bioAffinity Technologies — Third Quarter 2026 Earnings Summary

Total revenue decreased to approximately $1.1 million in Q3 2026 from $1.4 million in Q3 2025, driven by lower average reimbursement per test and a decline in cases at Precision Pathology Laboratory Services; net loss widened to approximately $5.3 million from $5.1 million year-over-year.
Operating expenses rose 24% to $4.6 million, with SG&A increasing 28% to $2.8 million and R&D up 18% to $389,000, while cash and cash equivalents declined to $2.6 million as of September 30, 2026.
The Company secured $8.0 million in gross proceeds through private placement and registered direct offerings in August and October 2026, with an additional $4.0 million raised subsequent to the quarter-end.
Strategic progress includes a 100% increase in CyPath Lung test unit sales year-to-date, a collaboration with Pictor, Inc. for asthma and COPD diagnostics, and patent grants in Hong Kong and Japan.
Future outlook focuses on expanding commercial adoption of CyPath Lung, advancing clinical trials for lung cancer surveillance, and pursuing topical therapeutics for skin cancers based on CD320 and LRP2 receptor findings.