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Biotricity, Inc. (BTCY) Q4 2025 Earnings Conference Call Transcript
Seeking Alpha· 2025-07-19 01:43
Group 1 - The core viewpoint of the earnings call is that Biotricity has experienced a transformative fiscal year 2025, with significant advancements and strategic initiatives leading towards profitability and positive EBITDA [4]. - The company has made remarkable progress through innovation, strategic partnerships, and operational efficiency [4]. - A major achievement highlighted is the expansion of Biotricity's Cardiac AI cloud platform, supported by partnerships with industry leaders [5].
Biotricity Delivers Strong Fiscal Year 2025 Results with Revenue Growth, Continued Margin Improvement, and Reduced Operating Expenses, Putting Profitability within Reach
Globenewswire· 2025-07-17 13:33
Core Insights - Biotricity Inc. has reported significant financial improvements for fiscal year 2025, showcasing a transformation driven by technology and operational efficiencies [2][8][9] Financial Performance - FY25 revenue increased by 14.3% year-over-year to $13.8 million, up from $12.1 million in FY24 [9] - Gross margin improved to 76.6% in FY25, compared to 69.3% in FY24, attributed to increased recurring technology fee revenue and operational efficiencies [8][9] - The net loss for FY25 decreased by 20% year-over-year to $11.9 million, or $0.56 per share, down from a net loss of $14.9 million, or $1.66 per share, in FY24 [9] - Positive Adjusted EBITDA of $438,260 was achieved in Q4 FY25, marking the first time in the company's history to reach EBITDA positivity [8][9] Operational Highlights - Recurring Technology Fees rose by 12% year-over-year to $12.6 million, significantly outpacing Device Sales revenue [7] - Operating expenses were reduced by 24.5% year-over-year, contributing to improved financial metrics [8] - The company is on track to achieve EBITDA breakeven and long-term profitability in FY26 [2][8] Strategic Developments - Biotricity has expanded its Cardiac AI Cloud platform through strategic partnerships, enhancing its market reach to approximately 90% of hospitals in the U.S. [4][3] - The company is pursuing FDA clearance for its AI clinical model, which is expected to revolutionize medical diagnostics and chronic care management [3][4] - Collaborative partnerships established during FY25 and FY26 are aimed at capitalizing on new market channels and value-based care programs [4] Market Position - Biotricity is positioned within a total addressable market of $35 billion, focusing on innovative and accessible cardiac care solutions [15] - The company has secured strategic alliances with three of the top Group Purchasing Organizations (GPOs), representing a significant portion of U.S. hospitals [15]
Biotricity (BTCY) - 2025 Q4 - Annual Report
2025-07-15 21:27
Part I [Business](index=4&type=section&id=ITEM%201.%20BUSINESS) Biotricity Inc. provides biometric data monitoring solutions for cardiac care, leveraging an insourcing model and recurring revenue from FDA-cleared products - The company's core business is providing remote cardiac monitoring solutions (Bioflux®, Biocore®) to medical professionals using an insourcing model, charging recurring technology service fees[13](index=13&type=chunk)[14](index=14&type=chunk)[15](index=15&type=chunk) - Biotricity is expanding its AI technology development, leveraging a proprietary cardiac AI model built with Google's TensorFlow and AWS infrastructure to improve disease profiling and patient management[27](index=27&type=chunk)[28](index=28&type=chunk) - The company has expanded its commercial sales efforts to **35 states** and is pursuing regulatory approvals in key international jurisdictions for future growth[14](index=14&type=chunk) [Market Overview and Opportunity](index=6&type=section&id=ITEM%201.%20BUSINESS%23Market%20Overview%20and%20Opportunity) The company targets the growing cardiovascular and remote monitoring markets, aiming to disrupt them with superior technology and an insourced business model - The global ECG equipment market is projected to grow at a CAGR of **6.5%** from 2023 to 2030, with the US market valued at **$2.01 billion** in 2022[32](index=32&type=chunk) - Mobile Cardiac Outpatient Monitoring (COM) tests have an estimated average reimbursement rate of approximately **$850 per test** in key US markets[34](index=34&type=chunk) - The chronic care management market is projected to reach **$8.7 billion** in the US by 2027 (**18% CAGR**), and the remote patient monitoring (RPM) market is projected to reach **$96.67 billion** by 2030 (**17.6% CAGR**)[45](index=45&type=chunk)[46](index=46&type=chunk) [Products and Technology](index=10&type=section&id=ITEM%201.%20BUSINESS%23Products%20and%20Technology) Biotricity offers a comprehensive product ecosystem for cardiac monitoring and chronic care, including advanced ECG devices and a disease management platform, with plans for future market expansion - The flagship Biocore® Pro is an advanced ECG device for the COM market with **3 channels** and built-in cellular connectivity[60](index=60&type=chunk)[61](index=61&type=chunk) - The Biocare® platform, combined with the Bioheart® monitor and Biokit®, provides a comprehensive disease management solution for cardiovascular patients, a unique offering in a space primarily focused on diabetes[66](index=66&type=chunk)[67](index=67&type=chunk)[68](index=68&type=chunk) - Future product development includes Bionatal for fetal monitoring and leveraging an NIH grant to investigate cardiac anomalies in chronic kidney disease patients[69](index=69&type=chunk)[71](index=71&type=chunk)[72](index=72&type=chunk) [Competition](index=12&type=section&id=ITEM%201.%20BUSINESS%23Competition) Biotricity competes in the COM and Holter markets against major players, differentiating itself through superior 3-channel technology and a unique insourced business model - Primary COM competitors include Philips Biotel and Boston Scientific, who operate on an outsourced service model, whereas Biotricity uses an insourced model empowering physicians[74](index=74&type=chunk)[75](index=75&type=chunk) - In the Holter patch market, competitors like iRhythm Technologies and BardyDx offer **1-channel**, non-connected devices, while Biotricity's Biocore is a connected, **3-channel** solution[81](index=81&type=chunk)[82](index=82&type=chunk) - The company believes its competitive advantage lies in its superior technology (e.g., **3-channel**, connected devices) and its disruptive insourcing business model, which creates financial and clinical benefits for providers[82](index=82&type=chunk)[55](index=55&type=chunk) [Government Regulation](index=15&type=section&id=ITEM%201.%20BUSINESS%23Government%20Regulation) Biotricity's Class II medical devices are subject to extensive FDA and international regulations, requiring 510(k) clearance and ongoing compliance with quality and reporting standards - The company's products are classified as **Class II medical devices** and have received the necessary **510(k) clearances** from the FDA for commercial distribution in the U.S.[96](index=96&type=chunk)[104](index=104&type=chunk) - Post-market, the company must comply with numerous FDA regulations, including Quality System Regulation (QSR), Medical Device Reporting (MDR), and rules governing product modifications and advertising[94](index=94&type=chunk)[101](index=101&type=chunk)[102](index=102&type=chunk) - The company is also subject to foreign regulations and has implemented a quality management system compliant with **ISO 13485:2013** to facilitate international market access[109](index=109&type=chunk)[110](index=110&type=chunk) [Risk Factors](index=19&type=section&id=ITEM%201A.%20RISK%20FACTORS) The company faces significant risks including limited operating history, ongoing net losses, going concern doubts, dependence on physician adoption, regulatory and reimbursement challenges, intense competition, and intellectual property issues - The company has a history of net losses, an accumulated deficit of **$138.9 million** as of March 31, 2025, and its auditors have expressed substantial doubt about its ability to continue as a going concern[122](index=122&type=chunk)[176](index=176&type=chunk) - Business success is highly dependent on convincing physicians to use its solutions, which is influenced by factors like reimbursement adequacy, product reliability, and pricing[130](index=130&type=chunk)[131](index=131&type=chunk) - The company is subject to extensive government regulation (FDA), and its revenue is vulnerable to changes in third-party reimbursement policies from Medicare and commercial payors[133](index=133&type=chunk)[143](index=143&type=chunk)[149](index=149&type=chunk) - The company relies on trade secrets and has limited patent protection, exposing it to risks of intellectual property litigation and competition from others developing similar technologies[182](index=182&type=chunk)[204](index=204&type=chunk)[205](index=205&type=chunk) [Cybersecurity](index=36&type=section&id=ITEM%201C.%20CYBERSECURITY) Biotricity integrates cybersecurity risk management into its overall processes, with the VP of Technology overseeing efforts, third-party consultants assisting, and board audit committee oversight - The company has integrated cybersecurity risk management into its overall risk processes, with oversight from the board's audit committee[216](index=216&type=chunk)[222](index=222&type=chunk) - The Vice President of Technology is primarily responsible for managing cybersecurity risk, and the company engages third-party consultants to assist in designing, implementing, and monitoring safeguards[219](index=219&type=chunk)[220](index=220&type=chunk) - To date, the company has not experienced any cybersecurity incidents that have materially impaired its operations or financial condition[221](index=221&type=chunk) [Properties](index=37&type=section&id=ITEM%202.%20PROPERTIES) The company's principal executive office is a leased 8,300 square foot facility in Redwood City, California, deemed adequate for current operations - The company's main office is a leased space of approximately **8,300 sq. ft.** at 203 Redwood Shores Parkway, Suite 600, Redwood City, California[225](index=225&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities](index=38&type=section&id=ITEM%205.%20MARKET%20FOR%20REGISTRANT%27S%20COMMON%20EQUITY%2C%20RELATED%20STOCKHOLDER%20MATTERS%2C%20AND%20ISSUER%20PURCHASES%20OF%20EQUITY%20SECURITIES) Biotricity's common stock trades on the OTCQB, with 26.57 million shares outstanding, and the company pays dividends only on Series A preferred shares while maintaining equity incentive plans - The company's common stock is traded on the OTCQB under the symbol **"BTCY"**[228](index=228&type=chunk) - As of July 15, 2025, there were **26,567,769 shares** of common stock outstanding[7](index=7&type=chunk)[229](index=229&type=chunk) - The company pays a **12% annual dividend** on its Series A preferred shares but does not anticipate paying cash dividends on its common stock[231](index=231&type=chunk) Equity Compensation Plan Information as of March 31, 2025 | Plan Category | (a) Number of securities to be issued upon exercise of outstanding options, warrants and rights | (b) Weighted average exercise price of outstanding options, warrants and rights | (c) Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) | | :--- | :--- | :--- | :--- | | Equity compensation plans approved by security holders | 3,953,442 | $ 3.0525 | 4,849,418 | | Warrants granted to Directors and Officers | 736,216 | $ 2.2943 | - | | **Total** | **4,689,658** | **5.3468** | **4,849,418** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=40&type=section&id=ITEM%207.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Biotricity's FY2025 revenue grew to **$13.8 million** with improved gross margin and reduced operating losses, though liquidity remains critical with substantial doubt about its going concern ability [Results of Operations](index=43&type=section&id=ITEM%207.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS%23Results%20of%20Operations) In FY2025, revenue increased by **14.3%** to **$13.8 million**, gross margin expanded to **76.6%**, and operating loss significantly narrowed to **$2.4 million** due to reduced expenses Fiscal Year 2025 vs 2024 Operating Results | | 2025 ($) | 2024 ($) | Period Change ($) | | :--- | :--- | :--- | :--- | | **Revenue** | **13,790,294** | **12,063,345** | **1,726,949** | | Gross profit | 10,564,491 | 8,356,281 | 2,208,210 | | *Gross Margin %* | *76.6%* | *69.3%* | *7.3%* | | Total operating expenses | 12,968,538 | 17,184,550 | (4,216,012) | | Loss from operations | (2,404,047) | (8,828,269) | 6,424,222 | | Net loss before dividends | (8,421,179) | (14,094,283) | 5,673,104 | | Net loss attributable to common stockholders | (11,246,320) | (14,928,960) | 3,682,640 | Q4 2025 vs Q4 2024 Operating Results | | Q4 2025 ($) | Q4 2024 ($) | Period Change ($) | | :--- | :--- | :--- | :--- | | **Revenue** | **3,702,597** | **3,178,311** | **524,286** | | Gross profit | 2,978,181 | 2,272,313 | 705,868 | | *Gross Margin %* | *80.4%* | *71.5%* | *8.9%* | | Loss from operations | (810,547) | (3,044,336) | 2,233,789 | - The increase in gross margin to **76.6%** was primarily due to a higher percentage of technology sales, which have a higher margin (**79.8%** in FY25 vs. **75%** in FY24), and improved operational efficiency[262](index=262&type=chunk) - Selling, general and administrative expenses decreased by **$3.8 million** in FY25, attributed to increased monitoring of spending efficiency over sales commissions and fixed G&A costs[265](index=265&type=chunk) [Liquidity and Capital Resources](index=47&type=section&id=ITEM%207.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS%23Liquidity%20and%20Capital%20Resources) Biotricity faces critical liquidity challenges with **$0.4 million** cash and a **$15.9 million** working capital deficit, necessitating additional financing to address going concern doubts and fund operations - As of March 31, 2025, the company had only **$365,145** in cash and a working capital deficit of **$15.9 million**, raising substantial doubt about its ability to continue as a going concern[176](index=176&type=chunk)[279](index=279&type=chunk)[282](index=282&type=chunk) Cash Flow Summary (Fiscal Years Ended March 31) | | 2025 ($) | 2024 ($) | | :--- | :--- | :--- | | Net cash used in operating activities | (2,401,397) | (6,693,912) | | Net cash used in investing activities | — | — | | Net cash provided by financing activities | 1,929,253 | 6,741,685 | | **Net (decrease) increase in cash** | **(472,144)** | **47,773** | - The company will require additional funds to support its business plan, estimating a need for an additional **$10 million** to fund operations and sales expansion[156](index=156&type=chunk) - In November 2024, the company amended its term loan to receive an additional **$635,000** in proceeds and capitalized approximately **$1.5 million** in interest, while also issuing **600,000 warrants** to the lender[288](index=288&type=chunk) [Critical Accounting Policies](index=50&type=section&id=ITEM%207.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS%23Critical%20Accounting%20Policies) Biotricity's critical accounting policies involve significant estimates for revenue recognition (ASC 606), fair value of financial instruments, stock-based compensation, and a full valuation allowance against deferred tax assets due to historical losses - Revenue is recognized under **ASC 606**, with a distinction between technology fees and device sales. For FY2025, technology fees constituted the majority of revenue[300](index=300&type=chunk)[301](index=301&type=chunk) Revenue Breakdown (Fiscal Year Ended March 31) | | 2025 ($) | 2024 ($) | | :--- | :--- | :--- | | Technology fees | 12,591,036 | 11,249,113 | | Device sales | 1,199,258 | 814,232 | | **Total** | **13,790,294** | **12,063,345** | - The company uses significant estimates for the fair value of derivative liabilities associated with convertible debt and preferred stock, stock options, and warrants, which can materially impact financial results[307](index=307&type=chunk)[310](index=310&type=chunk) - A full valuation allowance is recorded against deferred tax assets due to the company's history of losses, making it not more likely than not that these assets will be realized[317](index=317&type=chunk)[663](index=663&type=chunk) [Controls and Procedures](index=57&type=section&id=ITEM%209A.%20CONTROLS%20AND%20PROCEDURES) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal controls during the last quarter - Management concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report (March 31, 2025)[347](index=347&type=chunk)[350](index=350&type=chunk) - There were no changes in internal controls over financial reporting during the last fiscal quarter that have materially affected, or are reasonably likely to materially affect, these controls[353](index=353&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=59&type=section&id=ITEM%2010.%20DIRECTORS%20AND%20EXECUTIVE%20OFFICERS%20AND%20CORPORATE%20GOVERNANCE) The company's leadership includes CEO Waqaas Al-Siddiq and CFO John Ayanoglou, supported by a Board with three independent directors and established governance committees and policies - The executive team is led by Waqaas Al-Siddiq (President, CEO, Chairman) and John Ayanoglou (CFO)[359](index=359&type=chunk) - The Board has **three independent directors** (David Rosa, Ron McClurg, Jainal Bhuiyan) and has established Audit, Compensation, and Nominating committees[372](index=372&type=chunk)[380](index=380&type=chunk) - The company has adopted a clawback policy allowing for the recovery of incentive-based compensation from executives in the event of a material accounting restatement[369](index=369&type=chunk) [Executive Compensation](index=64&type=section&id=ITEM%2011.%20EXECUTIVE%20COMPENSATION) In FY2025, CEO Waqaas Al-Siddiq's total compensation was **$732,000**, and CFO John Ayanoglou's was **$738,023**, both with employment agreements outlining salary, bonus, and severance terms Summary Compensation Table (Fiscal Years 2025 & 2024) | Name and Principal Position | Fiscal Year | Salary ($) | Bonus ($) | Option/Warrant Awards(1) ($) | All Other Compensation ($) | Total ($) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | **Waqaas Al-Siddiq** | 2025 | 480,000 | 240,000 | - | 12,000 | **732,000** | | *Chief Executive Officer* | 2024 | 480,000 | 240,000 | 522,153 | 12,000 | **1,254,153** | | **John Ayanoglou** | 2025 | 300,000 | 250,000 | 176,023 | 12,000 | **738,023** | | *Chief Financial Officer* | 2024 | 300,000 | 250,000 | - | 12,000 | **562,000** | - CEO Waqaas Al-Siddiq has an employment agreement with a base salary of **$480,000** for FY2025 and eligibility for a bonus up to **50%** of his salary[387](index=387&type=chunk) [Security Ownership of Certain Beneficial Owners and Management](index=67&type=section&id=ITEM%2012.%20SECURITY%20OWNERSHIP%20OF%20CERTAIN%20BENEFICIAL%20OWNERS%20AND%20MANAGEMENT) As of July 14, 2025, CEO Waqaas Al-Siddiq beneficially owned **8.02%** of common stock, while all directors and executive officers as a group owned **12.58%** Beneficial Ownership as of July 14, 2025 | Name of Beneficial Owner | Shares Beneficially Owned | % of Shares Beneficially Owned | | :--- | :--- | :--- | | Waqaas Al-Siddiq (1) | 2,248,723 | 8.02% | | Sohaira Siddiqui | 1,916,910 | 6.84% | | Mohammad Siddiqui | 1,898,159 | 6.77% | | Rizwana Siddiqui | 1,790,434 | 6.39% | | Rizwan Rahman | 1,790,434 | 6.39% | | Mohamed Abdi | 1,790,434 | 6.39% | | All directors and executive officers as a group (5 persons) | 3,401,573 | 12.58% | [Principal Accountant Fees and Services](index=68&type=section&id=ITEM%2014.%20PRINCIPAL%20ACCOUNTANT%20FEES%20AND%20SERVICES) For FY2025, the company incurred **$118,447** in total fees from its principal accountant, exclusively for audit services, a decrease from the prior fiscal year Accountant Fees (Fiscal Years Ended March 31) | Fee Category | 2025 ($) | 2024 ($) | | :--- | :--- | :--- | | Audit Fees | 118,447 | 155,377 | | Audit-Related Fees | - | - | | Tax Fees | - | - | | All Other Fees | - | - | | **Total Fees** | **118,447** | **155,377** | Part IV [Exhibits and Financial Statement Schedules](index=69&type=section&id=ITEM%2015.%20EXHIBITS%20AND%20FINANCIAL%20STATEMENT%20SCHEDULES) This section details all exhibits filed with the Form 10-K, including corporate foundational documents, financing agreements, equity plans, employment contracts, and officer certifications - Filed exhibits include foundational corporate documents, details of equity and debt financing instruments, executive employment agreements, and required SEC certifications[404](index=404&type=chunk)[405](index=405&type=chunk)[407](index=407&type=chunk)
Biotricity to Host Fiscal 2025 Fourth Quarter Financial Results and Business Update Call on July 18th
Globenewswire· 2025-07-15 21:05
Core Insights - Biotricity Inc. is set to announce significant improvements in margins, operational efficiency, and a transition to positive adjusted EBITDA during its Fiscal 2025 Fourth Quarter Financial Results and Business Update Call on July 18, 2025 [1] - The company claims this will be its best financial performance to date, highlighting its commitment to redefining the healthcare industry through innovative remote monitoring and diagnostic solutions [1] Company Overview - Biotricity Inc. operates in the Technology-as-a-Service (TaaS) sector, focusing on remote monitoring and chronic care management [3] - The company aims to bridge gaps in healthcare by providing comprehensive remote health monitoring solutions for both medical and consumer markets [3] Event Details - The Financial Results and Business Update Call is scheduled for July 18, 2025, at 4:45 PM ET, with a listen-only mode for investors [2] - A replay of the call will be available approximately three hours after the live event, accessible through the company's investor relations section [3]
Biotricity Recognized by Financial Times as One of 2025's Fastest-Growing Companies in the Americas, Growing 256.4% Over the Period Analyzed
Newsfilter· 2025-04-08 12:15
Core Insights - Biotricity Inc. has been recognized as one of The Americas' Fastest-Growing Companies 2025 by the Financial Times, achieving a remarkable growth rate of 256.4% during challenging global conditions [1][2][3] Company Performance - The evaluation by the Financial Times, in collaboration with Statista, focused on independent companies across the Americas based on revenue growth from 2020 to 2023, amidst significant economic challenges such as the COVID-19 pandemic and supply chain disruptions [2] - Biotricity's growth is attributed to the increasing demand for smart remote monitoring solutions, addressing the needs of over 100 million Americans who face barriers to essential healthcare services [3] Innovation and Market Position - Biotricity is at the forefront of transforming healthcare with proprietary technologies that enhance continuous remote monitoring for high-risk cardiac patients, enabling medical providers to deliver faster interventions and improve patient outcomes [3] - The company's mission to revolutionize chronic care management, particularly in the cardiac sector, is gaining momentum, as highlighted by the recognition from the Financial Times [4]
Biotricity Recognized by Financial Times as One of 2025's Fastest-Growing Companies in the Americas, Growing 256.4% Over the Period Analyzed
GlobeNewswire News Room· 2025-04-08 12:15
Core Insights - Biotricity Inc. has been recognized as one of The Americas' Fastest-Growing Companies 2025 by the Financial Times, achieving a remarkable growth rate of 256.4% during challenging global conditions [1][2][4] Company Performance - The evaluation by the Financial Times, in collaboration with Statista, focused on independent companies across the Americas based on revenue growth from 2020 to 2023, amidst significant economic challenges such as the COVID-19 pandemic and supply chain disruptions [2] - Biotricity's growth is attributed to the increasing demand for smart remote monitoring solutions, addressing the healthcare accessibility issues faced by over 100 million Americans [3] Industry Context - The healthcare industry is experiencing a transformation with a heightened need for remote monitoring services, particularly for high-risk cardiac patients, which Biotricity is addressing through its proprietary technologies [3] - The recognition from the Financial Times serves as validation for Biotricity's innovative approach in chronic care management, especially in the cardiac sector [4]
Biotricity Expands IP Portfolio & Strategy with 14 New Patents, Reinforcing Innovation & Leadership in Remote Monitoring, Diagnostics, & Chronic Disease Management
Globenewswire· 2025-03-12 12:15
Core Insights - Biotricity has expanded its intellectual property portfolio with 14 new patents, bringing the total to 15 issued patents and 14 pending, highlighting its commitment to enhancing patient care through advanced diagnostic solutions [1][4] - The new patents focus on a multi-sensor patch device platform that can function as both a patch and a watch, allowing for versatile integration in remote patient monitoring [2][3] - The innovations aim to streamline diagnostic processes, enabling simultaneous diagnostic studies, which can significantly reduce delays in diagnosis and expedite treatment for patients [3][4] Company Overview - Biotricity is a Technology-as-a-Service (TaaS) company that specializes in diagnostic and chronic disease management solutions for healthcare providers and consumers [1][5] - The company aims to reform the healthcare market by bridging gaps in remote monitoring and chronic care management, providing comprehensive solutions for both medical and consumer markets [5]
Biotricity Expands IP Portfolio & Strategy with 14 New Patents, Reinforcing Innovation & Leadership in Remote Monitoring, Diagnostics, & Chronic Disease Management
Newsfilter· 2025-03-12 12:15
Core Insights - Biotricity has expanded its intellectual property portfolio with 14 new patents, bringing the total to 15 issued patents and 14 pending, highlighting its commitment to enhancing patient care and diagnostic processes [1][4] - The new patents focus on a multi-sensor patch device platform that can function as both a patch and a watch, allowing for versatile integration in remote patient monitoring [2][3] - The innovations aim to enable simultaneous diagnostic studies, improving efficiency in patient care by reducing the need for multiple appointments and long wait times [3] Company Overview - Biotricity is a Technology-as-a-Service (TaaS) company specializing in diagnostic and chronic disease management solutions for healthcare providers and consumers [1][5] - The company aims to reform the healthcare market by bridging gaps in remote monitoring and chronic care management, providing comprehensive solutions for both medical and consumer markets [5] - The CEO emphasizes the importance of delivering actionable data to healthcare providers to facilitate quicker interventions and improve patient outcomes while also driving revenue through insurance reimbursement [4]
Biotricity (BTCY) - 2025 Q3 - Quarterly Results
2025-02-21 22:45
[Form 8-K Current Report](index=1&type=section&id=Form%208-K%20Current%20Report) This report details the current financial condition and operations of Biotricity Inc. as required by Form 8-K regulations [Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) This section details Biotricity Inc.'s financial results for the period ending December 31, 2024, as announced in a press release - Biotricity Inc. announced its financial results for the period ended December 31, 2024[5](index=5&type=chunk) - The announcement was made via a press release on February 20, 2025, attached as Exhibit 99.1[5](index=5&type=chunk) - The information provided in this item and the exhibit is not deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, and is not subject to the liabilities of that section[6](index=6&type=chunk) [Financial Statements and Exhibits](index=2&type=section&id=Item%209.01%20Financial%20Statements%20and%20Exhibits) This section lists the exhibits included with the Form 8-K filing, primarily the press release containing financial results - The report includes Exhibit 99.1, which is the press release[7](index=7&type=chunk)
Biotricity Delivers Record Margins, Record Revenues, and Record Cashflows with 21.7% Year-Over-Year Sales Growth for its Third Quarter of Fiscal 2025
Globenewswire· 2025-02-20 13:15
Core Viewpoint - Biotricity Inc. continues to innovate in the healthcare sector with a focus on remote monitoring and diagnostic solutions, achieving significant financial growth and operational efficiency in Q3 FY25 [2][4]. Financial Highlights - Q3 FY25 revenue increased by 21.7% year-over-year to $3.6 million, with recurring Technology-as-a-Service (TaaS) fees rising 21.8% to $3.39 million [6][7]. - Gross profit margin improved to 76.4%, up from 72.9% in the same quarter last year, attributed to better margins on technology fees and efficiencies gained through AI [8][13]. - Net loss decreased by 56.7% year-over-year to $1.32 million, or $0.054 per share, compared to a net loss of $3.05 million, or $0.339 per share, in Q3 FY24 [8][7]. Operational Highlights - The company has monitored billions of heartbeats for atrial fibrillation (AFib), benefiting hundreds of thousands of patients and enabling earlier medical interventions [3]. - Biotricity's AI technology development in remote cardiac care has led to predictive monitoring tools that enhance disease profiling and patient management [4]. - The company maintained a strong customer retention rate and expanded its customer base, now serving hundreds of centers across 35 states [13]. Future Outlook - Management expects continued improvements in cash flow and operational efficiency, with a strong focus on achieving positive cash flow and profitability [7][8]. - The company plans to host a financial results call to discuss Q3 FY25 results and future business updates [10].