Biotricity Achieves Positive Free Cash Flow Milestone
Biotricity (OTCQB: BTCY) has achieved positive free cash flow for the first time, marking a significant milestone towards profitability. For the quarter ended September 30, 2024, the company reported positive Free Cash Flow of $355,016 ($0.016 per share), a substantial improvement from negative $725,567 in the previous quarter and negative $1.6 million in the same quarter last year. This achievement demonstrates the company's progress in operational efficiency and financial discipline. Management plans to accelerate new product launches in FY25 to enhance long-term profitability and sustainability.
Biotricity (OTCQB: BTCY) ha raggiunto un flusso di cassa libero positivo per la prima volta, segnando una pietra miliare significativa verso la redditività. Per il trimestre concluso il 30 settembre 2024, l'azienda ha riportato un flusso di cassa libero positivo di $355,016 ($0,016 per azione), un miglioramento sostanziale rispetto ai -$725,567 del trimestre precedente e ai -$1,6 milioni nello stesso trimestre dell'anno scorso. Questo risultato dimostra i progressi dell'azienda nell'efficienza operativa e nella disciplina finanziaria. Il management prevede di accelerare il lancio di nuovi prodotti nell'esercizio 2025 per migliorare la redditività e la sostenibilità a lungo termine.
Biotricity (OTCQB: BTCY) ha logrado un flujo de efectivo libre positivo por primera vez, marcando un hito significativo hacia la rentabilidad. Para el trimestre que terminó el 30 de septiembre de 2024, la compañía reportó un flujo de efectivo libre positivo de $355,016 ($0.016 por acción), una mejora sustancial respecto a los -$725,567 del trimestre anterior y a los -$1.6 millones del mismo trimestre del año pasado. Este logro demuestra el progreso de la compañía en eficiencia operativa y disciplina financiera. La dirección planea acelerar el lanzamiento de nuevos productos en el ejercicio fiscal 2025 para mejorar la rentabilidad y sostenibilidad a largo plazo.
Biotricity (OTCQB: BTCY)는 처음으로 긍정적인 자유 현금 흐름을 달성하여 수익성 향상을 위한 중요한 이정표를 세웠습니다. 2024년 9월 30일로 종료된 분기 동안 회사는 $355,016 ($0.016 per 주식)의 긍정적인 자유 현금 흐름을 보고하였으며, 이는 이전 분기 -$725,567와 작년 같은 분기 -$1.6 백만에 비해 상당한 개선입니다. 이 성과는 회사의 운영 효율성과 재무 규율의 발전을 나타냅니다. 경영진은 FY25에 새로운 제품 출시를 가속화하여 장기적인 수익성과 지속 가능성을 향상시킬 계획입니다.
Biotricity (OTCQB: BTCY) a réalisé un flux de trésorerie libre positif pour la première fois, marquant ainsi une étape importante vers la rentabilité. Pour le trimestre clos le 30 septembre 2024, la société a rapporté un flux de trésorerie libre positif de $355,016 ($0,016 par action), une amélioration substantielle par rapport à -$725,567 au trimestre précédent et à -$1,6 million au même trimestre l'année dernière. Cette réalisation démontre les progrès de la société en matière d'efficacité opérationnelle et de discipline financière. La direction prévoit d'accélérer le lancement de nouveaux produits au cours de l'exercice fiscal 2025 pour améliorer la rentabilité et la durabilité à long terme.
Biotricity (OTCQB: BTCY) hat zum ersten Mal einen positiven Free Cash Flow erzielt und damit einen bedeutenden Meilenstein auf dem Weg zur Rentabilität erreicht. Für das am 30. September 2024 endende Quartal meldete das Unternehmen einen positiven Free Cash Flow von $355,016 ($0,016 pro Aktie), was eine erhebliche Verbesserung gegenüber -$725,567 im vorherigen Quartal und -$1,6 Millionen im gleichen Quartal des Vorjahres darstellt. Dieser Erfolg zeigt den Fortschritt des Unternehmens in Bezug auf Betriebseffizienz und finanzielle Disziplin. Das Management plant, die Einführung neuer Produkte im Geschäftsjahr 2025 zu beschleunigen, um die langfristige Rentabilität und Nachhaltigkeit zu verbessern.
- First-ever positive free cash flow of $355,016 in Q2 FY2024
- Significant improvement from -$725,567 in Q1 FY2024 and -$1.6M in Q2 FY2023
- Free Cash Flow per share improved to $0.016 from -$0.186 year-over-year
- Still showing negative cash flow from operating activities (-$397,059)
- Cumulative six-month free cash flow remains negative at -$370,551
- High interest expenses of $752,075 for the quarter
First Time in the Company's History
Dr. Waqaas Al-Siddiq, Biotricity's Founder & CEO, explains: "While continuing on our mission to produce transformative healthcare technologies, we have demonstrated a strong commitment to growth and operational efficiency through innovation, automation and financial discipline, driving revenue and margins on our path to profitability. One of the key metrics management and investors use as a measure of progress to profitability is Free Cash Flow. We are pleased to see this measure become positive during the second fiscal quarter ended September 30, 2024."
Free Cash Flow is a non-generally accepted accounting principle ("non-GAAP") measure that represents the cash that the Company generates from its operations after deducting cash used on operating expenses and any capital asset spending. Unlike other accounting measures such as earnings or net income, this measure of profitability excludes non-cash expenses, but includes spending on capital assets and changes in working capital on the Company's Balance Sheet. Free Cash Flow therefore represents the cash that the Company has generated that is available to repay creditors and pay interest or dividends to lenders and investors. New product launches anticipated in FY25 will be accelerated, bringing the Company closer to long-term profitability and sustainability.
Management intends to report this metric as it continues on its path to profitability." Positive Free Cash Flow of
Free Cash Flows | |||||
3 months $ | 3 months June 30, $ | 3 months $ | 6 months $ | 6 months $ | |
Net cash used in operating activities | (397,059) | (1,494,240) | (2,390,036) | (1,891,299) | (4,222,154) |
Add: Interest expense | 752,075 | 768,673 | 753,268 | 1,520,748 | 1,413,780 |
Less: Investment in capital assets | - | - | - | - | - |
Free cash flows before one-time items | 355,016 | (725,567) | (1,636,768) | (370,551) | (2,808,374) |
Add (Less): | |||||
One-time items (1) | - | - | - | - | - |
Free Cash Flows | 355,016 | (725,567) | (1,636,768) | (370,551) | (2,808,374) |
Weighted average number of common | 22,493,626 | 14,169,441 | 8,795,742 | 18,354,277 | 8,774,242 |
Free Cash Flow per Share, Basic and | 0.016 | (0.051) | (0.186) | (0.020) | (0.320) |
(1) These items relate to financing transactions and therefore do not reflect the Company's core operating activities | |||||
Non-GAAP Measures
We provide non-GAAP financial information to enhance the understanding of Biotricity's GAAP financial information; it should be considered by the reader in addition to, but not instead of, the financial statements prepared in accordance with GAAP. We believe that providing these non-GAAP measures in addition to the GAAP measures allows management, investors and other users of our financial information to more fully and accurately assess business performance. The non-GAAP financial information presented may be determined or calculated differently by other companies and may not be directly comparable to that of other companies.
About Biotricity Inc.
Biotricity is reforming the healthcare market by bridging the gap in remote monitoring and chronic care management. Doctors and patients trust Biotricity's unparalleled standard for preventive & personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The Company develops comprehensive remote health monitoring solutions for the medical and consumer markets. To learn more, visit www.biotricity.com.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words "may," "should," "would," "will," "could," "scheduled," "expect," "anticipate," "estimate," "believe," "intend," "seek," "project," or "goal" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of Bioflux or any of the Company's other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. There cannot be any assurance that the Company will ever become profitable. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Contacts
Investor Relations
Biotricity Investor Relations
investors@biotricity.com
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SOURCE Biotricity
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