Bioaffinity Technologies, Inc. key statistics and ratios

In fiscal 2025, Bioaffinity Technologies, Inc. had an operating margin of -171.6%, debt equal to 2.0% of equity and a current ratio of 2.60. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Bioaffinity Technologies, Inc.: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	0.1%	—	—	—	—
Operating margin	−58.1%	−100.9%	−95.6%	−171.6%	−209.8%
Net margin	−118.2%	−100.5%	−96.6%	−242.0%	−257.3%
Free-cash-flow margin	−62.2%	−76.7%	−78.4%	−152.4%	−195.9%
Return on equity	−73.8%	−99.8%	—	—	—
Return on assets	−66.9%	−77.8%	−122.7%	−170.6%	−163.5%
Asset turnover	0.57	0.77	1.27	0.71	0.64
Current ratio	10.50	1.77	0.87	2.60	1.44
Debt to equity	0.0%	0.0%	7.4%	2.0%	1.6%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m
R&D as % of revenue	20.0%	18.6%	15.6%	22.4%	24.0%
SG&A as % of revenue	36.0%	86.0%	106.2%	160.9%	192.3%
Capital spending as % of revenue	3.2%	0.3%	0.8%	1.0%	1.6%

US$ thousands unless shown otherwise. Fiscal quarters.

Bioaffinity Technologies, Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Operating margin	−84.0%	−133.5%	−141.7%	−198.2%	−158.6%	−196.9%	−267.6%	−220.8%
Net margin	−85.1%	−134.4%	−143.5%	−319.9%	−349.3%	−197.0%	−268.6%	−222.8%
Free-cash-flow margin	−73.1%	−76.0%	−91.3%	−209.6%	−171.3%	−160.7%	−239.2%	−217.9%
Current ratio	1.02	0.87	0.55	0.64	3.65	2.60	1.36	1.44
Debt to equity	4.8%	0.8%	3.3%	—	3.4%	0.6%	1.1%	1.0%
R&D as % of revenue	11.7%	17.7%	19.8%	24.5%	22.9%	23.5%	25.9%	23.9%
SG&A as % of revenue	100.6%	132.3%	132.3%	174.4%	152.8%	190.7%	239.8%	189.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 6 checks passed · June 30, 2026

What it owns · $8m

Short-term assets $4mLonger-term assets $4m

What it owes, and who funded it · $8m

Short-term liabilities $3mLonger-term liabilities $1mShareholders' equity $4m

Short-term assets cover short-term liabilities $4m of assets due within a year against $3m of liabilities due within a year.
Short-term assets cover long-term liabilities $4m short-term assets against $1m of longer-dated liabilities.
More cash than debt $2m of cash against $36,465 of debt.
Debt below 40% of shareholders' equity Debt is 1% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt −$11m of operating cash flow against $36,465 of debt.
Operating profit covers interest at least five times over Operating income of −$12m against $44,837 of interest.

From Bioaffinity Technologies, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Bioaffinity Technologies, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Bioaffinity Technologies, Inc.