Business
bioAffinity Technologies Reports Record $9.4 Million Revenue for 2024
SAN ANTONIO, March 31, 2025--bioAffinity Technologies, Inc. (BIAF) releases financial results for 2024.
About this update from Bioaffinity Technologies, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":201,"url":"https://media.zenfs.com/en/business-wire.com/f0d2c6a09450120850b710607a8a4c45"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/gugFc3djhzQV0pwXghiC9Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQwMjtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/f0d2c6a09450120850b710607a8a4c45","width":480,"height":201}},"lazy":false},{"type":"text","content":"Increased Demand, Expanded Insurance Coverage Drive Record Growth","length":65,"tagName":"p","attribs":{}},{"type":"text","content":"SAN ANTONIO, March 31, 2025--(BUSINESS WIRE)--bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company focused on the need for noninvasive, accurate tests for the detection of early-stage lung cancer and other lung diseases, today reported financial results for the year ended December 31, 2024.","length":316,"tagName":"p"},{"type":"text","content":"2024 Highlights","length":15,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Record Revenue: Revenue grew approximately 270% to $9.4 million in 2024, a significant increase from $2.5 million in 2023.","length":122,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Increased Demand: CyPath® Lung orders grew by approximately 1,400% over full-year 2023, reflecting increasing physician adoption.","length":129,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"CyPath® Lung Reimbursed by Medicare and Private Insurance: The unique CPT code for CyPath® Lung was added to the Centers for Medicare and Medicaid Services (CMS) 2024 clinical laboratory schedule effective January 1, leading to reimbursement of the test by both Medicare and private insurers.","length":292,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Expanded Physician Network: Number of physician offices signed increased by over 300% in 2024, positioning the Company for continued growth in 2025.","length":148,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Federal Supply Schedule (FSS) Listing: In October 2024, CyPath® Lung was added to the U.S. Federal Supply Schedule, granting Veterans Health Administration and Military Health System facilities streamlined access to the test. Through 1,380 government...