On this page of StockholderLetter.com we present the latest annual shareholder letter from bioAffinity Technologies, Inc. — ticker symbol BIAF. Reading current and past BIAF letters to shareholders can bring important insights into the investment thesis.
2023 Annual Report to Stockholders bioAffinity Technologies, Inc.
012345 738347 7490 23247 815 4 9 81 4 9 2772 1 5 9 $%&'( *+,. /001/2 345*36 51371/06 6* 74869*0 :; *3 :<$=- *> 6?4 7481396947 4@8?/0A4 /86 *> :B;C >D' EF, GHIJ&K L,&' ,+=,= M,J,NO,' ;:P QRQ;S *3 T 63/07969*0 345*36 51371/06 6* 74869*0 :; *3 :<$=- *> 6?4 7481396947 4@8?/0A4 /86 *> :B;C >D' E'&+IHEHD+ U,'HD= G'DN VVVV ED VVVVS 9 WW X YZ [W\Z] !" ! ^_ \$ 4b &8X X ` 3Za Y Z 2 a JE +&N, DG ',cHIE'&+E &I IU,JHGH,= H+ HEI JF&'E,'- 5ZY d ]Z $7E&E, D' DEF,' ef'HI=HJEHD+ DG H+JD'UD'&EHD+ !! 2 Z] Z ! 7[ Z ! ^ 7 8 3Zg $/==',II DG U'H+JHU&K ,b,JfEHj, DGGHJ,I- l ! m ^ i" __ l3,cHIE'&+EnI E,K,UFD+, +fNO,'P H+JKf=H+c &',& JD=,- 7,Jf'HEH,I ',cHIE,',= Uf'If&+E ED 7,JEHD+ :Q$O- DG EF, /JEo 3 YZ X Z a aY 3] p 7`W\ Yl m 8DNND+ IEDJ(P U&' j&Kf, qRSRRr U,' IF&', s9/> 6'&=,&OK, u&''&+EI ED Uf'JF&I, 8DNND+ 7EDJ( s9/>u 7,Jf'HEH,I ',cHIE,',= Uf'If&+E ED I,JEHD+ :Q$c- DG EF, /JEo 1 Z 9+=HJ&E, OL JF,J( N&'( HG EF, ',cHIE'&+E HI & v,KKw(+Dv+ I,&ID+,= HIIf,'P &I =,GH+,= H+ 3fK, CR< DG EF, 7,Jf'HEH,I /JES 9+=HJ&E, OL JF,J( N&'( HG EF, ',cHIE'&+E HI +DE ',tfH',= ED GHK, ',UD'EI Uf'If&+E ED 7,JEHD+ :; D' 7,JEHD+ :<$=- DG EF, /JES $9S3S7S 4NUKDL,' 9=,+EHGHJ&EHD+ 0DShi h $kHU 8D=,- 1 WZ X Z a Zga Z d a ]Z Z]Zp 6F, 0&I=&t 7EDJ( %&'(,E 228 6F, 0&I=&t 7EDJ( %&'(,E 228 x,I T 0D . x,I T 0D . 9+=HJ&E, OL JF,J( N&'( vF,EF,' EF, ',cHIE'&+E $:- F&I GHK,= &KK ',UD'EI ',tfH',= ED O, GHK,= OL 7,JEHD+ :; D' :<$=- DG EF, 7,Jf'HEH,I 4bJF&+c, /JE DG :B;C =f'H+c EF, U',J,=H+c :Q ND+EFI $D' GD' IfJF IFD'E,' U,'HD= EF&E EF, ',cHIE'&+E v&I ',tfH',= ED GHK, IfJF ',UD'EI-P &+= $Q- F&I O,,+ IfOe,JE ED IfJF GHKH+c ',tfH',N,+EI GD' EF, U&IE BR =&LIS x,I . 0D T 9+=HJ&E, OL JF,J( N&'( vF,EF,' EF, ',cHIE'&+E F&I IfONHEE,= ,K,JE'D+HJ&KKL ,j,'L 9+E,'&JEHj, M&E& >HK, ',tfH',= ED O, IfONHEE,= Uf'If&+E ED 3fK, CR< DG 3,cfK&EHD+ 7w6 $y Q;QSCR< DG EFHI JF&UE,'- =f'H+c EF, U',J,=H+c :Q ND+EFI $D' GD' IfJF IFD'E,' U,'HD= EF&E EF, ',cHIE'&+E v&I ',tfH',= ED IfONHE IfJF GHK,I-S x,I . 0D T 9+=HJ&E, OL JF,J( N&'( vF,EF,' EF, ',cHIE'&+E HI & K&'c, &JJ,K,'&E,= GHK,'P &+ &JJ,K,'&E,= GHK,'P & +D+w&JJ,K,'&E,= GHK,'P & IN&KK,' ',UD'EH+c JDNU&+LP D' &+ ,N,'cH+c c'DvEF JDNU&+LS 7,, EF, =,GH+HEHD+I DG zK&'c, &JJ,K,'&E,= GHK,'P{ z&JJ,K,'&E,= GHK,'P{ zIN&KK,' ',UD'EH+c JDNU&+LP{ &+= z,N,'cH+c c'DvEF JDNU&+L{ H+ 3fK, :QOwQ DG EF, 4bJF&+c, /JES T 2&'c, &JJ,K,'&E,= GHK,' /JJ,K,'&E,= GHK,' T 0D+w&JJ,K,'&E,= GHK,' 7N&KK,' ',UD'EH+c JDNU&+L . 4N,'cH+c c'DvEF JDNU&+L . 9G &+ ,N,'cH+c c'DvEF JDNU&+LP H+=HJ&E, OL JF,J( N&'( HG EF, ',cHIE'&+E F&I ,K,JE,= +DE ED fI, EF, ,bE,+=,= E'&+IHEHD+ U,'HD= GD' JDNUKLH+c vHEF &+L +,v D' ',jHI,= GH+&+JH&K &JJDf+EH+c IE&+=&'=I U'DjH=,= Uf'If&+E ED 7,JEHD+ :;$&- DG EF, 4bJF&+c, /JES T 9+=HJ&E, OL JF,J( N&'( vF,EF,' EF, ',cHIE'&+E F&I GHK,= & ',UD'E D+ &+= &EE,IE&EHD+ ED HEI N&+&c,N,+EnI &II,IIN,+E DG EF, ,GG,JEHj,+,II DG HEI H+E,'+&K JD+E'DK Dj,' GH+&+JH&K ',UD'EH+c f+=,' 7,JEHD+ CRC$O- DG EF, 7&'O&+,Iw*bK,L /JE $:< 1S7S8S rQ|Q$O-- OL EF, ',cHIE,',= UfOKHJ &JJDf+EH+c GH'N EF&E U',U&',= D' HIIf,= HEI &f=HE ',UD'ES T 9G I,Jf'HEH,I &', ',cHIE,',= Uf'If&+E ED 7,JEHD+ :Q$O- DG EF, /JEP H+=HJ&E, OL JF,J( N&'( vF,EF,' EF, GH+&+JH&K IE&E,N,+EI DG EF, ',cHIE'&+E H+JKf=,= H+ EF, GHKH+c ',GK,JE EF, JD'',JEHD+ DG &+ ,''D' ED U',jHDfIKL HIIf,= GH+&+JH&K IE&E,N,+EIS T 9+=HJ&E, OL JF,J( N&'( vF,EF,' &+L DG EFDI, ,''D' JD'',JEHD+I &', ',IE&E,N,+EI EF&E ',tfH',= & ',JDj,'L &+&KLIHI DG H+J,+EHj,wO&I,= JDNU,+I&EHD+ ',J,Hj,= OL &+L DG EF, ',cHIE'&+EnI
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BIAF Shareholder/Stockholder Letter Transcript:

2023
Annual Report
to Stockholders
bioAffinity Technologies, Inc.

012345  738347
7490 23247  815  
4 9 81 4  9   2772 1
             5 9        

$%&'(  *+,. /001/2  345*36  51371/06  6*  74869*0  :;  *3  :<$=-  *>  6?4  7481396947  4@8?/0A4  /86  *>  :B;C
>D'  EF,  GHIJ&K  L,&'  ,+=,=  M,J,NO,'  ;:P  QRQ;S
*3
T 63/07969*0  345*36  51371/06  6*  74869*0  :;  *3  :<$=-  *>  6?4  7481396947  4@8?/0A4  /86  *>  :B;C
>D'  E'&+IHEHD+  U,'HD=  G'DN  VVVV  ED  VVVVS
9 WW        X YZ   [W\Z]    !" ! ^_
\$ 4b &8X
X    `  3Za   Y   Z    2 a 
JE  +&N,  DG  ',cHIE'&+E  &I  IU,JHGH,=  H+  HEI  JF&'E,'-
5ZY d ]Z
$7E&E,  D'  DEF,'  ef'HI=HJEHD+
DG  H+JD'UD'&EHD+   !!     2  Z]    Z  ! 
7[  Z  !  ^
7    8         3Zg  
$/==',II  DG  U'H+JHU&K  ,b,JfEHj,  DGGHJ,I-
l ! m  ^ i" __ 
l3,cHIE'&+EnI  E,K,UFD+,  +fNO,'P  H+JKf=H+c  &',&  JD=,-
7,Jf'HEH,I  ',cHIE,',=  Uf'If&+E  ED  7,JEHD+  :Q$O-  DG  EF,  /JEo
3  YZ   X  Z a   aY   
3] p     7`W\ Yl m
8DNND+  IEDJ(P  U&'  j&Kf,  qRSRRr  U,'  IF&',
s9/>
6'&=,&OK,  u&''&+EI  ED  Uf'JF&I,  8DNND+  7EDJ(
s9/>u
7,Jf'HEH,I  ',cHIE,',=  Uf'If&+E  ED  I,JEHD+  :Q$c-  DG  EF,  /JEo  1  Z 
9+=HJ&E,  OL  JF,J(  N&'(  HG  EF,  ',cHIE'&+E  HI  &  v,KKw(+Dv+  I,&ID+,=  HIIf,'P  &I  =,GH+,=  H+  3fK,  CR<  DG  EF,  7,Jf'HEH,I  /JES
9+=HJ&E,  OL  JF,J(  N&'(  HG  EF,  ',cHIE'&+E  HI  +DE  ',tfH',=  ED  GHK,  ',UD'EI  Uf'If&+E  ED  7,JEHD+  :;  D'  7,JEHD+  :<$=-  DG  EF,  /JES

$9S3S7S  4NUKDL,'
9=,+EHGHJ&EHD+  0DShi  h
$kHU  8D=,-
1 WZ   X  Z a   Zga    Z      d  a   ]Z    Z]Zp
6F,  0&I=&t  7EDJ(  %&'(,E  228
6F,  0&I=&t  7EDJ(  %&'(,E  228
x,I  T  0D  .
x,I  T  0D  .
9+=HJ&E,  OL  JF,J(  N&'(  vF,EF,'  EF,  ',cHIE'&+E  $:-  F&I  GHK,=  &KK  ',UD'EI  ',tfH',=  ED  O,  GHK,=  OL  7,JEHD+  :;  D'  :<$=-  DG  EF,  7,Jf'HEH,I  4bJF&+c,  /JE  DG  :B;C  =f'H+c  EF,  U',J,=H+c  :Q  ND+EFI
$D'  GD'  IfJF  IFD'E,'  U,'HD=  EF&E  EF,  ',cHIE'&+E  v&I  ',tfH',=  ED  GHK,  IfJF  ',UD'EI-P  &+=  $Q-  F&I  O,,+  IfOe,JE  ED  IfJF  GHKH+c  ',tfH',N,+EI  GD'  EF,  U&IE  BR  =&LIS
x,I  .  0D  T
9+=HJ&E,  OL  JF,J(  N&'(  vF,EF,'  EF,  ',cHIE'&+E  F&I  IfONHEE,=  ,K,JE'D+HJ&KKL  ,j,'L  9+E,'&JEHj,  M&E&  >HK,  ',tfH',=  ED  O,  IfONHEE,=  Uf'If&+E  ED  3fK,  CR<  DG  3,cfK&EHD+  7w6  $y  Q;QSCR<  DG  EFHI
JF&UE,'-  =f'H+c  EF,  U',J,=H+c  :Q  ND+EFI  $D'  GD'  IfJF  IFD'E,'  U,'HD=  EF&E  EF,  ',cHIE'&+E  v&I  ',tfH',=  ED  IfONHE  IfJF  GHK,I-S
x,I  .  0D  T
9+=HJ&E,  OL  JF,J(  N&'(  vF,EF,'  EF,  ',cHIE'&+E  HI  &  K&'c,  &JJ,K,'&E,=  GHK,'P  &+  &JJ,K,'&E,=  GHK,'P  &  +D+w&JJ,K,'&E,=  GHK,'P  &  IN&KK,'  ',UD'EH+c  JDNU&+LP  D'  &+  ,N,'cH+c  c'DvEF  JDNU&+LS  7,,  EF,
=,GH+HEHD+I  DG  zK&'c,  &JJ,K,'&E,=  GHK,'P{  z&JJ,K,'&E,=  GHK,'P{  zIN&KK,'  ',UD'EH+c  JDNU&+LP{  &+=  z,N,'cH+c  c'DvEF  JDNU&+L{  H+  3fK,  :QOwQ  DG  EF,  4bJF&+c,  /JES
T
2&'c,  &JJ,K,'&E,=  GHK,'
/JJ,K,'&E,=  GHK,' T
0D+w&JJ,K,'&E,=  GHK,'
7N&KK,'  ',UD'EH+c  JDNU&+L .
4N,'cH+c  c'DvEF  JDNU&+L .
9G  &+  ,N,'cH+c  c'DvEF  JDNU&+LP  H+=HJ&E,  OL  JF,J(  N&'(  HG  EF,  ',cHIE'&+E  F&I  ,K,JE,=  +DE  ED  fI,  EF,  ,bE,+=,=  E'&+IHEHD+  U,'HD=  GD'  JDNUKLH+c  vHEF  &+L  +,v  D'  ',jHI,=  GH+&+JH&K  &JJDf+EH+c
IE&+=&'=I  U'DjH=,=  Uf'If&+E  ED  7,JEHD+  :;$&-  DG  EF,  4bJF&+c,  /JES  T
9+=HJ&E,  OL  JF,J(  N&'(  vF,EF,'  EF,  ',cHIE'&+E  F&I  GHK,=  &  ',UD'E  D+  &+=  &EE,IE&EHD+  ED  HEI  N&+&c,N,+EnI  &II,IIN,+E  DG  EF,  ,GG,JEHj,+,II  DG  HEI  H+E,'+&K  JD+E'DK  Dj,'  GH+&+JH&K  ',UD'EH+c  f+=,'
7,JEHD+  CRC$O-  DG  EF,  7&'O&+,Iw*bK,L  /JE  $:<  1S7S8S  rQ|Q$O--  OL  EF,  ',cHIE,',=  UfOKHJ  &JJDf+EH+c  GH'N  EF&E  U',U&',=  D'  HIIf,=  HEI  &f=HE  ',UD'ES  T
9G  I,Jf'HEH,I  &',  ',cHIE,',=  Uf'If&+E  ED  7,JEHD+  :Q$O-  DG  EF,  /JEP  H+=HJ&E,  OL  JF,J(  N&'(  vF,EF,'  EF,  GH+&+JH&K  IE&E,N,+EI  DG  EF,  ',cHIE'&+E  H+JKf=,=  H+  EF,  GHKH+c  ',GK,JE  EF,  JD'',JEHD+  DG  &+
,''D'  ED  U',jHDfIKL  HIIf,=  GH+&+JH&K  IE&E,N,+EIS  T
9+=HJ&E,  OL  JF,J(  N&'(  vF,EF,'  &+L  DG  EFDI,  ,''D'  JD'',JEHD+I  &',  ',IE&E,N,+EI  EF&E  ',tfH',=  &  ',JDj,'L  &+&KLIHI  DG  H+J,+EHj,wO&I,=  JDNU,+I&EHD+  ',J,Hj,=  OL  &+L  DG  EF,  ',cHIE'&+EnI

010234560  899520   35   4 0  0 06 4  02860    058   3 3 4  48                   
52 40      2 02!  " !  # 04 0  4 0  0 54 4  5      0    28"         0950  5  $3 0         89  4 0  %24    &0     '8  (
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shareholder letter icon 4/15/2024 Letter Continued (Full PDF)
 

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