Biotricity

Biotricity, Inc. is a medical technology company, which is focused on biometric data monitoring solutions. It is also involved in delivering remote monitoring solutions to the medical, healthcare, and consumer markets, with a focus on diagnostic and post-diagnostic solutions for lifestyle and chronic illnesses. The firm’s FDA-approved Bioflux MCT technology is comprised of monitoring device and software components, which are made available to the market to assess, establish and develop sales processes, and market dynamics. The company was founded by Waqaas Al-Siddiq and Peter McGoldrick on August 29, 2012 and is headquartered in Redwood City, CA.

Earnings data Q2 2022

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Biotricity achieves positive EBITDA in Q2 2025, poised for growth

Biotricity's Q2 2025 performance showcased positive EBITDA, revenue growth, and operational improvements.
The company's strategic strengths lie in expanding capabilities, forming partnerships, and meeting market demand.
Challenges include sustaining profitability, reducing expenses, and navigating competitive pressures.
Opportunities for Biotricity include growth through partnerships, revenue model optimization, and market expansion.

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Biotricity, Inc. is a medical technology company, which engages in biometric data monitoring solutions. It operates through the following segments: Resting (Non-stress) ECG Systems, Stress ECG Systems, and Holter Monitoring Systems. The company was founded by Waqaas Al-Siddiq and Peter McGoldrick on August 29, 2012 and is headquartered in Redwood City, CA.

Corporate Impact Report concluded better patient outcomes and substantial cost savings, thus accelerating Company's sales growth REDWOOD CITY, CA / ACCESSWIRE / August 30, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading medical diagnostic and consumer healthcare technology company, today reported that it achieved a record $14 million annualized revenue run rate in August, extending its growth by over eight percent from the previously announced $13 million run rate. Commenting, Dr. Waqaas Al-Siddiq, Biotricity Founder and CEO, said, "The recent acceleration in revenue gains, increasing sales of our remote cardiac monitoring devices, and ramp up of subscription-based recurring service revenues, underscores Biotricity's excellence in the field.

Biotricity Achieves $14 Million Revenue Run Rate in August 2023

Biotricity (NASDAQ:BTCY ) Q1 2024 Earnings Conference Call August 15, 2023 4:30 PM ET Company Participants Debra Chen – Investor Relations Waqaas Al-Siddiq – Founder and Chief Executive Officer John Ayanoglou – Chief Financial Officer Conference Call Participants Kevin Dede – H.C. Wainwright Operator Good afternoon, and welcome to Biotricity's First Quarter Fiscal 2024 Financial Results and Business Update Conference Call.

Biotricity (BTCY) Q1 2024 Earnings Call Transcript

REDWOOD CITY, CA / ACCESSWIRE / August 15, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitor sector of consumer healthcare, today announced its financial results for the first quarter of fiscal 2024 year ended June 30, 2023. Company reports Q1-FY24 revenue grew by 46.9% YOY to $3.0 million; continuing to advance toward positive cashflow Recurring technology fees and customer device sales, continue to trend higher Reduced SG&A to $3.5 million, down 22% compared to same period last year Gross margins improve to 63.5% from 59.6% in the same period last year Recurring Technology Fee revenue - over 90% of total revenue with a 72% gross margin -- rose a robust 47% YOY Net loss improved 28% to $3.6 million Company will host its Q1 Fiscal Year 2024 Financial Results Call on Tuesday, August 15th at 4:30 p.m.

Biotricity Reports Strong Growth for its First Quarter Fiscal Year 2024 and Provides Financial Results and Business Updates

REDWOOD CITY, CA / ACCESSWIRE / August 14, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitor sector of consumer healthcare, announced that it will host its First Quarter Fiscal Year 2024 Financial Results and Business Update Call on Tuesday, August 15, 2023. Biotricity Founder and CEO Dr. Waqaas Al-Siddiq and CFO John Ayanoglou will deliver remarks followed by a Q&A section to address questions from investors.

Biotricity to Host First Quarter Fiscal Year 2024 Financial Results and Business Update Call on August 15th

Company to report robust performance improvements in its operating metrics Record Q1-FY2024 recurring revenue growth Significantly higher margins on technology fees compared to blended margins Strong control over sales and technology expenses through automation and AI REDWOOD CITY, CA / ACCESSWIRE / August 11, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitoring sector of consumer healthcare, is pleased to report that its business continues to demonstrate strong fundamentals that are propelling the Company towards profitability. Biotricity anticipates announcing its best-quarter yet, for the first fiscal quarter ended June 30, 2023.

Biotricity Shows Continued Growth and Strength in its Fundamentals on its Path to Profitability

REDWOOD CITY, CA / ACCESSWIRE / July 26, 2023 / The integration of AI technology in healthcare has revolutionized the industry, particularly in the areas of automation, big data analytics, and optimization. AI-powered software is designed to assist healthcare workers by performing tasks that are time-consuming and require high levels of accuracy.

Biotricity Is Paving The Way For Cardiac Health In The Age Of AI Technology

Company revolutionizes cardiac preventive care with state-of-the-art AI technology that improves automation, big data analytics and optimization Biotricity expands its Amazon SageMaker feedback system to drive continuous learning from healthcare professionals to further optimize its AI models AI in Healthcare Market is projected to grow to $208.2 billion by 2030 REDWOOD CITY, CA / ACCESSWIRE / July 25, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitoring sector of consumer healthcare, today announced its strengthened relationships with Amazon and Google. The Company is expanding its AI technology development in remote cardiac care, leveraging its proprietary AI technology to provide a suite of predictive monitoring tools to enhance new disease profiling, improve patient management, and revolutionize the healthcare industry for disease prevention.

Biotricity Expands Its Proprietary AI Model and Deepens Relationship with Amazon AWS and Google's Tensor Flow for Remote Cardiac Care Applications

REDWOOD CITY, CA / ACCESSWIRE / July 21, 2023 / Biotricity, Inc. (NASDAQ:BTCY), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitor sector of consumer healthcare, today announced that it has received notice from The NASDAQ Stock Market LLC (NASDAQ) on July 18, 2023 informing Biotricity that it has regained compliance with the minimum bid price requirement under NASDAQ Listing Rule 5550(a)(2) for continued listing on The NASDAQ Capital Market. Consequently, Biotricity is now in compliance with all applicable listing standards and its common stock will continue to be listed on The NASDAQ Capital Market.

Biotricity Regains Nasdaq Listing Compliance

Company estimates Q1-FY24 revenue to grow YOY by over 40% Recurring technology fees, customer second-device sales, continue to trend higher REDWOOD CITY, CA / ACCESSWIRE / July 6, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitor sector of consumer healthcare, today reported a strong start to its Fiscal Year 2024 ending March 31, 2024 and provided a preliminary estimate of its revenue for its first quarter of fiscal year 2024. For the first fiscal quarter ended June 30, 2023, the Company expects to report an approximate increase in revenue which represents growth of over 40% YOY from the corresponding prior year quarter and expects to achieve continued reduction in expenses.

Biotricity Reports Strong Start to Fiscal Year 2024

REDWOOD CITY, CA / ACCESSWIRE / June 30, 2023 / Biotricity Holdings, Inc. ("Biotricity" or the "Company") (NASDAQ:BTCY), a medical diagnostic and consumer healthcare technology company, today it will effect a reverse stock split of its common stock. Biotricity expects its common stock to begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the commencement of trading on July 3, 2023.

Biotricity Announces Reverse Stock Split

Company advancing toward positive cashflow likely by end of CY 2024 Accelerating product sales, and customer re-order revenue, FY23 revenue rose 26% YOY to $9.64 million on 5% lower SG&A of $17.6 million Improving gross margins currently at 57% despite reduced, loss-leader device pricing to boost recurring ‘Technology Fees,' lower customers' cost of entry, and capture market share Recurring Technology Fee revenue - over 90% of total revenue with a 71% gross margin -- rose a robust 49% YOY Net loss decreased 35.4% to $19.5 million Company will host its FY23 Financial Results Call Friday, June 30 at 4:30 p.m. ET REDWOOD CITY, CA / ACCESSWIRE / June 30, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitor sector of consumer healthcare, today announced its financial results for its fiscal 2023 year and (unaudited) fourth quarter ended March 31, 2023.

Biotricity Reports Business Update, Financial Results for Q4 and Full Year FY23; Company Posts Robust Revenue Growth, Overall Higher Margins, with Lower SG&A Driving Clear Path to Positive Cash Flow

The Company recently announced reaching a record $13 million annualized revenue run rate in April 2023 REDWOOD CITY, CA / ACCESSWIRE / June 26, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading medical diagnostic and consumer healthcare technology company, announced that it will host its Fiscal Year 2023 Financial Results and Business Update Call on Friday, June 30, 2023. Biotricity Founder and CEO Dr. Waqaas Al-Siddiq and CFO John Ayanoglou will deliver remarks followed by a Q&A section to address questions from investors.

Biotricity to Host Fiscal Year 2023 Financial Results and Business Update Call on June 30th

Company's proprietary AI technology allows for expansion into predictive monitoring and new disease profiling The New England Journal of Medicine article cites AI and its potential for increased healthcare efficiency and insights REDWOOD CITY, CA / ACCESSWIRE / May 23, 2023 / Dr. Waqaas Al-Siddiq, Founder and CEO of Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading medical diagnostic and consumer healthcare technology company, today commented on contributions of artificial intelligence (AI) and machine learning and its transformative nature for healthcare. As stated in The New England Journal of Medicine , March 30, 2023 article entitled, Artificial Intelligence in Medicine, "Tools that utilize AI have come into increasing use in analyzing and interpreting large research databases containing information ranging from laboratory findings to clinical data.

Biotricity CEO Speaks to the Future of AI and its Contributions to Healthcare

Corporate Impact Report concluded better patient outcomes and substantial cost savings for patients using Company's devices REDWOOD CITY, CA / ACCESSWIRE / May 16, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading medical diagnostic and consumer healthcare technology company, today reported that it reached a record $13 million annualized revenue run rate in April -- further extending its growth by over eight percent from the $12 million run rate it announced for March 2023. Commenting, Dr. Waqaas Al-Siddiq, Biotricity Founder and CEO, said, "In collaboration with our affiliated cardiologists, our solutions-focused business model is proving itself to provide superior cardiac care while reducing the overall cost of that care for patients and their insurers by tens of millions of dollars.

Biotricity Reaches $13M Revenue Run Rate in April 2023 on Accelerating Growth

Dr. Waqaas will address, meet with, world leaders and medical innovators on pressing challenges and solutions in global cardiovascular health, digital health and AI REDWOOD CITY, CA / ACCESSWIRE / May 10, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading medical diagnostic and consumer healthcare technology company, today announced that its Founder & CEO Waqaas Al-Siddiq will be speaking at the World Heart Summit 2023 taking place in Geneva, Switzerland on May 19-21. Dr. Al-Siddiq will participate in a panel discussion entitled "Capitalizing on the Digital Transformation for Heart Health.

Biotricity's Founder & CEO Waqaas Al-Siddiq to Present at World Heart Summit May 19-21 in Geneva, Switzerland

REDWOOD CITY, CA / ACCESSWIRE / April 21, 2023 / Biotricity Inc. (NASDAQ:BTCY), a medical technology company committed to improving healthcare by developing solutions that aid in chronic disease prevention and management, is taking action to tackle the unmet need in cardiovascular diseases (CVDs). CVDs account for around 17.9 million deaths each year , making them the leading cause of death globally.

New Report Reveals Medtech Company Biotricity Decreased Patient Spending By Millions While Delivering Life-Saving Products

REDWOOD CITY, CA / ACCESSWIRE / April 19, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading medical diagnostic and consumer healthcare technology company, today reported that it reached a record $12 million annualized revenue run rate in March 2023. Based on preliminary month-to-date results and internal projections, the Company remains excited regarding potential top line revenue growth in April and the current quarter (Q4FY23) as it maintains optimized investment in R&D, sales and marketing.

Biotricity Reaches $12M Revenue Run Rate in March with Promising Future Growth Ahead

"Inducing Better Patient Outcomes, Substantial Cost Savings" REDWOOD CITY, CA / ACCESSWIRE / April 11, 2023 / Biotricity, Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a leading medical diagnostic and consumer healthcare technology company, has released its first Corporate Impact Report- revealing that the company's remote, clinical-grade diagnostic devices are inducing "better patient outcomes and substantial cost savings" across the nation. Presenting new data, the report highlights specific examples of Biotricity's impact on "reforming the healthcare market by bridging the gap between effective remote diagnostics, remote patient monitoring and chronic care management.

Leading Medical Biometric Firm Biotricity Releases First Corporate Impact Report

Biotricity has a leading position and first-mover advantage in a large niche market, remote heart health monitoring, operating on an attractive business model producing high-margin recurring revenues. The platform can easily accommodate ventures into adjacent markets.

Biotricity Has To Reaccelerate Growth

Highlights Several Major Operating Milestones Since FY22 REDWOOD CITY, CA / ACCESSWIRE / March 7, 2023 / Biotricity, Inc. (Nasdaq:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, has not only been establishing a significant market footprint through its robust revenue growth but also reshaping its marketplace through continuous pioneering innovation. Today, Biotricity highlighted several of its major operating achievements since fiscal year 2022.

Medical Biometric Firm Biotricity Reshaping Market Through Pioneering Innovation

Biotricity, Inc. (NASDAQ:BTCY ) Q3 2023 Earnings Conference Call February 14, 2023 4:30 PM ET Company Participants Debra Chen - Investor Relations Waqaas Al-Siddiq - Founder & Chief Executive Officer John Ayanoglou - Chief Financial Officer Conference Call Participants Kevin Dede - H.C. Wainwright Operator Greetings, and welcome to the Biotricity's Fiscal Third Quarter 2023 Conference Call.

Biotricity, Inc. (BTCY) Q3 2023 Earnings Call Transcript

Revenue Up 27.4% YOY Enviable 98% Customer Retention Rate Drives Subscription Recurring Rev Growth Two Major Distribution Agreements Implemented Net Loss Narrowed by One Third as Company Targets Positive Cash Flow Investor Teleconference Scheduled Today for 4:30 ET REDWOOD CITY, CA / ACCESSWIRE / February 14, 2023 / Biotricity Inc.(Nasdaq:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, today announced its financial results and provided a business update for its third quarter of fiscal 2023 ended December 31, 2022. Commenting, Dr. Waqaas Al-Siddiq, Biotricity Founder & CEO, said, "With our suite of state-of-the-art remote cardiac solutions now well established, Biotricity is focused on sales, marketing and achieving positive cash flow.

Biotricity Reports Financial Results for Fiscal 2023 Third Quarter

REDWOOD CITY, CA / ACCESSWIRE / February 9, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, today announced it will host a conference call on Tuesday, February 14th, 2023 at 4:30 p.m. ET to discuss its financial results for the fiscal 2023 third quarter.

Biotricity To Host Fiscal 2023 Third Quarter Financial Results Call on February 14th at 4:30pm ET

REDWOOD CITY, CA / ACCESSWIRE / February 3, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, is excited to announce that it is one of only eight companies selected to present at the 2nd Annual Innovation Showcase during the American Stroke Association 2023 International Stroke Conference (ISC), being held in Dallas, TX. The showcase is being co-hosted by ISC in collaboration with both the National Heart, Lung, and Blood Institute and the National Institute for Neurological Disorders and Stroke (NINDS).

Biotricity Selected to Present its Work on AI Enabled Stroke Prediction in CKD Patients at the 2nd Annual Innovation Showcase during the American Stroke Association 2023 International Stroke Conference

REDWOOD CITY, CA / ACCESSWIRE / January 26, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, today announced it has signed its second distribution agreement with a top five US medical device distributor for the marketing and distribution of its two cardiac monitoring solutions (CMS) designed for cardiologists' patient use - Bioflux® and BiotresTM. The distribution agreement covers Bioflux and Biotres and will be distributed directly to hospitals and clinics for professional medical utilization with suitable patients.

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