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]

[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)

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].

Financial Performance - Total revenue for the three months ended December 31, 2024, was $3,619,108, representing a 21.7% increase from $2,972,972 in the same period of 2023[11] - Gross profit for the nine months ended December 31, 2024, reached $7,586,310, up 24.7% from $6,083,968 in the prior year[11] - The company reported a comprehensive loss of $1,241,866 for the three months ended December 31, 2024, compared to a loss of $3,250,496 in the same period of 2023[11] - For the nine months ended December 31, 2024, Biotricity reported a net loss of $6,485,442, an improvement from a net loss of $9,911,813 for the same period in 2023, representing a 34.5% reduction in losses[16] - Total revenue for the nine months ended December 31, 2024, was $10,087,697, a 13.5% increase compared to $8,885,034 for the same period in 2023[38] Expenses and Liabilities - Operating expenses decreased to $2,932,950 for the three months ended December 31, 2024, down 15% from $3,449,760 in the same quarter of 2023[11] - Research and development expenses for the nine months ended December 31, 2024, totaled $1,583,093, a decrease from $1,863,551 in the previous year[11] - Total liabilities decreased slightly to $35,783,372 as of December 31, 2024, from $35,919,442 as of March 31, 2024[10] - The company had an accumulated deficit of $137,419,652 and a working capital deficiency of $16,280,084 as of December 31, 2024, raising concerns about its ability to continue as a going concern[26] Equity and Shares - The weighted average number of common shares outstanding increased to 24,232,369 for the three months ended December 31, 2024, compared to 8,979,430 in the same period of 2023[11] - The total shares to be issued increased to 24,555,114, indicating potential future equity dilution[12] - The company issued 70,000 common shares, resulting in an increase of $42,850 in additional paid-in capital[12] - A total of 30,000 shares were issued for services, which added $30,000 to the company's equity[12] - The company issued 1,524,719 warrants for private placement holders, contributing to additional paid-in capital[14] Cash and Assets - Cash reserves decreased to $509,601 as of December 31, 2024, down from $786,060 as of March 31, 2024[10] - Total current assets increased to $4,861,343 as of December 31, 2024, compared to $4,470,573 as of March 31, 2024[10] - Biotricity's inventory as of December 31, 2024, was valued at $1,570,085, down from $1,879,402 as of March 31, 2024[40] Debt and Financing - The Company issued $11,275,500 in Series A Convertible Promissory Notes, which accrue interest at 12% per annum[89] - The Series A Notes can be converted into common stock at a conversion price equal to 75% of the volume weighted average price of the common stock for the five trading days prior to the conversion date[91] - The Company recognized interest expense of $15,465 and $65,184 for the three and nine months ended December 31, 2024, respectively[132] - The Company entered into a short-term promissory note agreement resulting in gross proceeds of $600,000, with a fixed interest rate of 25% per annum[148] Stockholder's Deficit - As of December 31, 2023, the total stockholders' deficit was $27,756,354, reflecting a net loss before dividends of $2,808,091 for the period[14] - The balance of accumulated deficit as of December 31, 2024, is $137,419,652, which highlights ongoing financial difficulties[12] - Preferred stock dividends for the period amount to $89,392, contributing to the overall financial strain[12] Accounting and Valuation - The Company uses the Black-Scholes option pricing model to estimate the fair value of stock options and warrants, considering inputs like volatility and risk-free rate[44][46] - The fair value of derivative liabilities is classified as Level 3 financial instruments, indicating reliance on unobservable inputs[63] - The calculation of current and deferred income taxes involves significant estimates and assumptions regarding future operating results and tax legislation[52] Management Outlook - Management anticipates continued revenue growth and loss reduction through business development and additional equity and debt capitalization[27] - The company plans to continue investing in capital expenditures and research and development for its product lines, including Bioflux, Biocore, and Biocare[32]

Financial Data and Key Metrics Changes - For the third quarter ended December 31, 2024, revenue increased by 21.7% year over year to $3.6 million, reflecting the effectiveness of the company's technology and strategic initiatives [7] - Gross profit for the quarter totaled $2.8 million, up 27.5% from $2.1 million in the prior year period, with gross profit percentage improving to 76.4% from 72.9% [10] - Net loss attributable to common stockholders decreased 56.7% year over year to $1.32 million, or $0.054 per share, from a net loss of $3.05 million, or $0.339 per share, in the same quarter of the previous fiscal year [13] - Adjusted EBITDA improved to negative $110,000 for the quarter, a reduction of about $1 million in negative adjusted EBITDA from the comparative period of the prior fiscal year, marking a 90% improvement [14] Business Line Data and Key Metrics Changes - Recurring revenue from the Technology as a Service subscription model and usage-based subscriptions remains robust, driven by the popularity of FDA-cleared cardiac monitor devices, particularly the BioCore suite [6] - Flat fee revenue grew by about 22% year over year, with technology fees rising by 21.8% year over year to approximately $3.4 million, of which 67% was flat fee revenue [9] Market Data and Key Metrics Changes - The company is expanding its market reach beyond cardiology through strategic alliances with top group purchasing organizations and specialist organizations in neurology and pulmonology [3][4] - The focus on chronic care disease prevention and management is expected to reinforce the company's market position as demand for its suite of products grows [19] Company Strategy and Development Direction - The company is committed to advancing the commercialization of its BioCore and BioCare products, with a focus on innovation and operational efficiency to drive sustained growth and profitability [17][20] - Plans for 2025 include expanding into new vertical segments and leveraging partnerships to enhance market penetration [18][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to maintain cash flow improvements while investing in commercial growth, particularly in larger deals [22][23] - The management team is optimistic about achieving profitability, citing record margins and a strong competitive position in the cardiac monitoring landscape [35][36] Other Important Information - The company has successfully transitioned approximately three-quarters of its business to a flat fee subscription model, establishing a higher quality and more predictable revenue stream [9] - The company is strategically transforming its sales force to focus on longer sales cycles and larger accounts, including independent hospitals and GPO networks [12] Q&A Session Summary Question: Sustainability of cash flow improvement - Management believes the cash flow improvement is sustainable and plans to reinvest in commercial growth while maintaining a prudent approach to investments [22][23] Question: Details on expansion into new verticals in 2025 - The company is expanding into complementary areas such as remote monitoring and implantable management, responding to customer requests for broader applications of its technology [24][25][27] Question: Goals for international expansion in 2026 - The company is focused on opportunistic international expansion, primarily in Canada, Germany, and Denmark, leveraging existing partnerships rather than establishing new offices [29][30][31]

Core Insights - Biotricity Inc. reported strong financial results for the third quarter of fiscal 2025, with a revenue growth of 22% year-over-year, reaching $3.6 million, and an 11% increase sequentially from the previous quarter [5][6] - The company emphasized its commitment to innovation in healthcare technology, focusing on automation, operating efficiency, and financial discipline to drive revenue and margins [2][3] - Management indicated that the company achieved positive cash flow for Q3-FY25 on a current operating basis, and improvements in gross margins and operating results are expected as the company approaches profitability [5][6] Financial Performance - The company expects to report a revenue growth of 22% from the same quarter last year, amounting to $3.6 million, and an 11% increase from the previous quarter [5] - Biotricity is focused on recurring revenue growth and operational efficiencies, which have contributed to improved cash flow [5] - Full financial results will be disclosed on February 19, 2025, with a conference call scheduled for February 20, 2025, to discuss these results [3][5] Business Strategy - The company continues to leverage its Biocore suite of products and is dedicated to redefining medical diagnostics and patient care through innovative AI-driven solutions [2][3] - Biotricity aims to bridge the gap in remote monitoring and chronic care management, establishing a strong standard for preventive and personal care in the healthcare market [7]

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Core Insights - Biotricity Inc. and B-Secur have partnered to create an advanced, device-neutral platform for integrated heart monitoring, enhancing capabilities for healthcare providers and diagnostic facilities [1][2] - The partnership aims to address critical gaps in cardiac care delivery, improving accessibility and efficiency for both healthcare providers and patients [3][5] Company Overview - Biotricity is focused on reforming the healthcare market through remote monitoring and chronic care management, providing diagnostic solutions for chronic conditions [6] - B-Secur specializes in biosensing technology, offering medical-grade ECG data for faster diagnosis and management, and is ISO 13485:2016 certified [5] Industry Context - With 90% of U.S. adults at risk of cardiovascular disease (CVD) and a projected shortage of up to 124,000 physicians by 2034, there is an urgent need for scalable solutions for early detection and intervention [3] - The financial burden of CVD is expected to triple to $1.8 trillion by 2050, highlighting the importance of proactive cardiac management [3][4]

Core Viewpoint - Biotricity Inc. has successfully secured the necessary capital from its term lender and existing investors to achieve profitability without requiring future financing [2][3][5]. Financial Health - The company completed financings totaling $811 thousand through promissory and convertible promissory notes, alongside $635 thousand from additional term loan proceeds [4]. - Interest relief was provided through the capitalization of $945 thousand due on the company's pre-existing term loan [4]. Operational Efficiency - Biotricity has achieved positive Free Cash Flow, a key metric towards profitability, which has garnered confidence from investors and lenders [3]. - The company has invested in its largest manufacturing order to date, which is expected to fulfill anticipated sales orders in 2025 [5]. - The proprietary AI workflow engine has improved operational capacity by 50%, with an expected further improvement of 15% [6]. Future Outlook - The company anticipates that the additional revenue from selling inventory and connected SaaS-based technology will augment its positive Free Cash Flows, aiming for full profitability within the next calendar year [5]. - The next generation AI cloud is expected to improve Cost of Goods Sold (COGS) across the SaaS business by 5% post FDA clearance, contributing to future profits [6].

Core Insights - Biotricity Inc. has achieved positive free cash flow for the first time in its history, marking a significant milestone towards profitability [3][4] - The company reported a positive free cash flow of $355,016 for the quarter ended September 30, 2024, a notable improvement from negative $725,567 in the previous quarter and negative $1.6 million in the same quarter last year [5][6] - Free cash flow per share for the quarter was $0.016, compared to negative $0.186 in the corresponding quarter of the prior fiscal year [5] Financial Performance - The net cash used in operating activities for the quarter ended September 30, 2024, was $(397,059), a decrease from $(1,494,240) in the previous quarter and $(2,390,036) in the same quarter last year [6] - Interest expense for the quarter was $752,075, slightly down from $768,673 in the previous quarter and comparable to $753,268 in the same quarter last year [6] - The weighted average number of common shares outstanding increased to 22,493,626 for the quarter ended September 30, 2024, from 14,169,441 in the previous quarter and 8,795,742 in the same quarter last year [6] Strategic Outlook - The company plans to accelerate new product launches anticipated in FY25, which is expected to bring it closer to long-term profitability and sustainability [4] - Management emphasizes the importance of free cash flow as a key metric for assessing progress towards profitability [4][5]