Quarterly ResultMay 8, 2026, 08:37 AM
bioAffinity Q1 CyPath Lung Sales +146%, Revenue +114% to $361K
AI Summary
bioAffinity Technologies reported Q1 2026 financial results, with CyPath® Lung unit sales increasing 146% year-over-year and testing revenue rising 114% to $361,000. However, total consolidated revenue decreased 27% to $1.4 million due to the discontinuation of unprofitable pathology services. The company also announced a new longitudinal clinical trial for CyPath® Lung with DoD funding and a collaborative study for companion diagnostics for asthma and COPD. Net loss for the quarter was $3.6 million, or $(0.81) per share.
Key Highlights
- CyPath® Lung unit sales increased 146% year-over-year in Q1 2026.
- CyPath® Lung testing revenue rose 114% to $361,000 in Q1 2026.
- Total consolidated revenue decreased 27% to $1.4 million in Q1 2026.
- Net loss for Q1 2026 was $3.6 million, or $(0.81) per share.
- Operating expenses increased to $5.0 million in Q1 2026 from $4.5 million in Q1 2025.
- Cash and cash equivalents were $3.1 million as of March 31, 2026.
- Physician offices ordering CyPath® Lung increased 69% from Q1 2025.
- Launched a large-scale longitudinal clinical trial for CyPath® Lung with DoD funding.