bioAffinity Technologies, Inc. (BIAF) AI Stock Analysis

• Market Cap: $9.86M
• Dividend Yield: N/A
• Average Volume (3M): 19.56M
• Price to Earnings (P/E): ―
• Beta (1Y): -2.71
• Revenue Growth: 269.68%
• EPS Growth: 17.26%
• Country: US
• Employees: 57
• Sector: Healthcare
• Sector Strength: 69
• Industry: Medical - Diagnostics & Research
• EPS (TTM): -0.19
• Shares Outstanding: 18,255,823
• 10 Day Avg. Volume: 57,859,514
• 30 Day Avg. Volume: 19,558,247
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.46
• Price to Cash Flow (P/CF): -0.60
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $6.00
• Price Target Upside: 1076.47% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

bioAffinity Technologies, Inc.'s stock is affected by several significant challenges. While revenue growth is a positive indicator, the company struggles with profitability, high leverage, and negative cash flows, leading to a fragile financial position. Technical analysis suggests a bearish trend, with potential for a short-term rebound due to oversold conditions. The negative P/E ratio and absence of dividends make the stock unappealing from a valuation perspective. These factors result in a low overall stock score, reflecting the substantial risks associated with this investment.

Positive Factors

Commercialization Strategy

Even without current FDA approval, BIAF’s commercialization strategy as an LDT is driving significant testing volume and revenue growth.

Market Opportunity

CyPath Lung was added to the US Federal Supply Schedule, allowing VA and Military Health System physicians to order the test.

Product Adoption

The number of physician offices offering the CyPath Lung test increased significantly, indicating growing adoption of the diagnostic test.

Negative Factors

Financial Stability

The company needs to raise additional capital immediately, which could lead to share dilution for current shareholders.

Profitability Concerns

Despite the novel diagnostic technology and market potential, the company's inability to operate profitably without raising additional funds is concerning.

Revenue Guidance

The company introduced 2025 revenue guidance significantly below prior estimates, leading to a downgrade of the stock to Hold.

bioAffinity Technologies, Inc. Business Overview & Revenue Model

Company Description

bioAffinity Technologies, Inc. (BIAF) is a biotechnology company focused on developing non-invasive diagnostics and cancer therapeutics. The company's core product is CyPath Lung, a diagnostic test designed to detect early-stage lung cancer. bioAffinity Technologies operates primarily in the healthcare and life sciences sectors, leveraging its expertise in cell biology and flow cytometry to improve disease detection and treatment.

How the Company Makes Money

bioAffinity Technologies makes money through the commercialization of its diagnostic tests, including CyPath Lung, which is marketed to healthcare providers and laboratories. The company generates revenue by selling these tests to medical institutions, which use them for early cancer detection. In addition to direct sales, bioAffinity Technologies may engage in strategic partnerships or licensing agreements with other healthcare companies to expand the reach and application of its technologies, potentially leading to additional revenue streams.

bioAffinity Technologies, Inc. Financial Statement Overview

Summary

bioAffinity Technologies, Inc. demonstrates significant revenue growth but struggles with profitability, high cost pressures, and negative cash flows. The balance sheet shows improvement with positive equity, although high leverage is concerning. Overall, the company is in a growth phase but must address cash flow and debt challenges.

Income Statement

The company shows a significant increase in revenue from $2.5M in 2023 to $9.4M in TTM, indicating substantial revenue growth. However, profitability remains a challenge with negative net income and low margins, as evidenced by a negative net profit margin and EBIT margin. The gross profit margin is relatively low at 31.8% in TTM, reflecting high cost pressures.

Balance Sheet

The company has improved its equity position from negative $15.8M in 2021 to positive $3.1M in TTM, which is a positive sign. However, the debt-to-equity ratio remains concerning at 0.55 in TTM, indicating high leverage. The equity ratio is 47.6% in TTM, showing a moderate reliance on equity financing.

Cash Flow

The cash flow situation is challenging with negative operating and free cash flows, though there was a significant increase in financing cash flows in TTM. The free cash flow to net income ratio is negative, which raises concerns about the sustainability of operations. The operating cash flow to net income ratio also indicates inefficiencies in cash generation.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
9.37M	2.53M	4.80K	0.00	0.00	0.00
	Gross Profit
2.98M	791.62K	4.34K	-4.82K	-22.24K	-40.28K
	EBIT
-8.35M	-7.97M	-4.01M	-2.21M	-2.60M	-3.09M
	EBITDA
-7.74M	-7.63M	-5.61M	-2.20M	-6.86M	-3.05M
	Net Income Common Stockholders
-8.45M	-7.94M	-8.15M	-6.33M	-7.27M	-3.31M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
83.11K	2.82M	11.41M	1.36M	83.11K	578.48K
	Total Assets
145.60K	8.22M	12.18M	1.45M	145.60K	658.81K
	Total Debt
10.01M	1.58M	251.75K	11.36M	10.01M	4.01M
	Net Debt
9.92M	-1.24M	-11.16M	10.00M	9.92M	3.43M
	Total Liabilities
11.17M	3.37M	1.14M	17.24M	15.22M	4.69M
	Stockholders Equity
-11.03M	4.86M	11.04M	-15.79M	-15.07M	-4.04M
Cash Flow		Free Cash Flow
-7.27M	-6.06M	-4.29M	-2.05M	-2.21M	-2.50M
	Operating Cash Flow
-7.20M	-6.04M	-4.07M	-2.05M	-2.21M	-2.49M
	Investing Cash Flow
-65.64K	-2.21M	-219.99K	0.00	-2.89K	-11.40K
	Financing Cash Flow
3.52M	-344.98K	14.34M	3.33M	1.72M	2.33M

bioAffinity Technologies, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.51
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BIAF, the sentiment is Negative. The current price of 0.51 is below the 20-day moving average (MA) of 0.57, below the 50-day MA of 0.51, and below the 200-day MA of 1.24, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 48.62 is Neutral, neither overbought nor oversold. The STOCH value of 31.46 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BIAF.

bioAffinity Technologies, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CDNA	69 Neutral	$1.02B	18.18	19.46%	―	19.07%	―
NTRA	68 Neutral	$20.79B	―	-19.42%	―	56.75%	59.77%
GH	52 Neutral	$5.96B	―	-4584.47%	―	31.04%	16.91%
Sector *	51 Neutral	$5.32B	3.32	-40.25%	2.90%	17.93%	2.14%
ILMN	51 Neutral	$12.28B	―	-30.11%	―	-2.93%	-4.69%
EXAS	50 Neutral	$8.20B	―	-37.09%	―	10.37%	-389.98%
BIAF	42 Neutral	$9.86M	―	-242.44%	―	269.68%	17.26%

bioAffinity Technologies, Inc. Corporate Events

bioAffinity Technologies Board Member Announces Departure

On April 12, 2025, Stuart Diamond, a board member of bioAffinity Technologies, Inc., announced he will not seek re-election at the company’s 2025 annual stockholders’ meeting. His decision was not due to any disagreements with the company’s operations or policies.

Spark’s Take on BIAF Stock

According to Spark, TipRanks’ AI Analyst, BIAF is a Neutral.

bioAffinity Technologies, Inc. faces significant challenges with high leverage and persistent net losses, despite positive revenue growth. Technical indicators show mixed signals with overbought RSI but negative MACD. The valuation is unattractive due to negative earnings, suggesting limited immediate upside potential.

To see Spark’s full report on BIAF stock, click here.