Biotricity Delivers Record Margins, Record Revenues, and Record Cashflows with 21.7% Year-Over-Year Sales Growth for its Third Quarter of Fiscal 2025
Biotricity (BTCY) reported strong Q3 FY25 results with revenue growth of 21.7% YOY to $3.6 million. The company achieved significant improvements in key metrics, including gross margins reaching 76.4% (up from 72.9% YOY) and a 56.7% reduction in net loss to $1.32 million.
Recurring Technology Fee revenue, comprising 94% of total revenue, demonstrated robust performance with an 81.4% gross profit percentage. The company successfully reduced SG&A expenses by 20.5% to $2.38 million compared to the previous year. Biotricity achieved positive cash flow on current operating basis for the second consecutive quarter, showing a 114.5% improvement from the prior quarter.
The company's technology is currently utilized across hundreds of centers in 35 states, with a growing focus on hospital networks and AI-driven solutions for remote cardiac care.
Biotricity (BTCY) ha riportato risultati solidi nel terzo trimestre dell'anno fiscale 25 con una crescita dei ricavi del 21,7% rispetto all'anno precedente, raggiungendo i 3,6 milioni di dollari. L'azienda ha ottenuto miglioramenti significativi in metriche chiave, con margini lordi che hanno raggiunto il 76,4% (in aumento rispetto al 72,9% dell'anno precedente) e una riduzione del 56,7% della perdita netta a 1,32 milioni di dollari.
I ricavi da commissioni tecnologiche ricorrenti, che rappresentano il 94% del fatturato totale, hanno dimostrato una performance robusta con una percentuale di profitto lordo dell'81,4%. L'azienda è riuscita a ridurre le spese SG&A del 20,5% a 2,38 milioni di dollari rispetto all'anno precedente. Biotricity ha raggiunto un flusso di cassa positivo basato sulle operazioni correnti per il secondo trimestre consecutivo, mostrando un miglioramento del 114,5% rispetto al trimestre precedente.
La tecnologia dell'azienda è attualmente utilizzata in centinaia di centri in 35 stati, con un crescente focus sulle reti ospedaliere e soluzioni basate sull'IA per la cura cardiaca a distanza.
Biotricity (BTCY) reportó sólidos resultados en el tercer trimestre del año fiscal 25, con un crecimiento de ingresos del 21.7% interanual, alcanzando los 3.6 millones de dólares. La empresa logró mejoras significativas en métricas clave, incluyendo márgenes brutos que alcanzaron el 76.4% (aumento desde el 72.9% interanual) y una reducción del 56.7% en la pérdida neta a 1.32 millones de dólares.
Los ingresos por tarifas tecnológicas recurrentes, que representan el 94% del total, demostraron un sólido rendimiento con un porcentaje de ganancia bruta del 81.4%. La empresa redujo con éxito los gastos SG&A en un 20.5% a 2.38 millones de dólares en comparación con el año anterior. Biotricity logró un flujo de caja positivo en base a las operaciones actuales por segundo trimestre consecutivo, mostrando una mejora del 114.5% con respecto al trimestre anterior.
La tecnología de la empresa se utiliza actualmente en cientos de centros en 35 estados, con un creciente enfoque en redes hospitalarias y soluciones impulsadas por IA para el cuidado cardíaco remoto.
Biotricity (BTCY)는 2025 회계연도 3분기 실적을 발표하며 전년 대비 21.7% 성장한 360만 달러의 매출을 기록했습니다. 회사는 주요 지표에서 상당한 개선을 이뤘으며, 총 매출의 76.4%에 해당하는 총 마진이 72.9%에서 증가했습니다. 또한 순손실이 56.7% 감소하여 132만 달러에 달했습니다.
재발적인 기술 수수료 수익은 전체 매출의 94%를 차지하며, 81.4%의 총 이익률로 강력한 성과를 보여주었습니다. 회사는 전년 대비 SG&A 비용을 20.5% 줄여 238만 달러로 감소시켰습니다. Biotricity는 두 분기 연속으로 현재 운영 기준으로 긍정적인 현금 흐름을 달성했습니다, 이전 분기 대비 114.5% 개선된 수치입니다.
회사의 기술은 현재 35개 주의 수백 개 센터에서 활용되고 있으며, 병원 네트워크 및 원격 심장 치료를 위한 AI 기반 솔루션에 점점 더 집중하고 있습니다.
Biotricity (BTCY) a annoncé de solides résultats pour le troisième trimestre de l'exercice 25, avec une croissance des revenus de 21,7 % par rapport à l'année précédente, atteignant 3,6 millions de dollars. L'entreprise a réalisé des améliorations significatives dans des indicateurs clés, notamment des marges brutes atteignant 76,4 % (en hausse par rapport à 72,9 % d'une année sur l'autre) et une réduction de 56,7 % de la perte nette à 1,32 million de dollars.
Les revenus des frais technologiques récurrents, représentant 94 % du chiffre d'affaires total, ont affiché une performance solide avec un pourcentage de bénéfice brut de 81,4 %. L'entreprise a réussi à réduire ses dépenses SG&A de 20,5 % à 2,38 millions de dollars par rapport à l'année précédente. Biotricity a atteint un flux de trésorerie positif sur la base des opérations courantes pour le deuxième trimestre consécutif, montrant une amélioration de 114,5 % par rapport au trimestre précédent.
La technologie de l'entreprise est actuellement utilisée dans des centaines de centres dans 35 États, avec un accent croissant sur les réseaux hospitaliers et les solutions pilotées par l'IA pour les soins cardiaques à distance.
Biotricity (BTCY) berichtete über starke Ergebnisse im 3. Quartal des Geschäftsjahres 25 mit einem Umsatzwachstum von 21,7% im Vergleich zum Vorjahr auf 3,6 Millionen Dollar. Das Unternehmen erzielte erhebliche Verbesserungen in wichtigen Kennzahlen, darunter eine Bruttomarge von 76,4% (ein Anstieg von 72,9% im Vergleich zum Vorjahr) und eine Reduzierung des Nettoverlusts um 56,7% auf 1,32 Millionen Dollar.
Die wiederkehrenden Technologiegebühren, die 94% des Gesamtumsatzes ausmachen, zeigten eine robuste Leistung mit einer Bruttogewinnmarge von 81,4%. Das Unternehmen konnte die SG&A-Ausgaben um 20,5% auf 2,38 Millionen Dollar im Vergleich zum Vorjahr senken. Biotricity erzielte einen positiven Cashflow auf Basis der laufenden Geschäftstätigkeit im zweiten aufeinanderfolgenden Quartal und zeigte eine Verbesserung von 114,5% im Vergleich zum vorherigen Quartal.
Die Technologie des Unternehmens wird derzeit in Hunderten von Zentren in 35 Bundesstaaten eingesetzt, mit einem zunehmenden Fokus auf Krankenhausnetzwerke und KI-gesteuerte Lösungen für die Fernüberwachung der Herzgesundheit.
- Revenue increased 21.7% YOY to $3.6 million
- Gross margins improved to 76.4% from 72.9% YOY
- Net loss decreased 56.7% to $1.32 million
- SG&A expenses reduced by 20.5% to $2.38 million
- Achieved positive operating cash flow, up 114.5% QoQ
- Recurring technology fees grew 21.8% YOY, representing 94% of total revenue
- Still operating at a net loss of $1.32 million
- Company reports Q3-FY25 revenue grew by
21.7% YOY to$3.6 million - Management continues to drive revenues and efficiencies
- Company achieved positive cash flow on current operating basis, before paying interest, dividends and amortization for the second consecutive quarter, up
114.5% from the prior quarter; management expects to continue to see cash flows improve - Recurring technology fees, existing and new customer sales see continued growth
- Reduced SG&A to
$2.38 million from$3.0 million , down20.5% compared to the same period last year - Gross margins continued to meet management expectations for improvement at
76.4% , a significant improvement from72.9% for the same period last year - Recurring Technology Fee revenue comprised
94% of total revenue with an81.4% gross profit percentage - Net loss attributable to common decreased
56.7% to$1.32 million - Management will host its Q3 Fiscal Year 2025 Financial Results Call on Thursday, February 20th at 5:30 p.m. ET
REDWOOD CITY, Calif., Feb. 20, 2025 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY) (“Biotricity” or the “Company”), a top Technology-as-a-Service (TaaS) company that is redefining the healthcare industry with state-of-the-art remote monitoring and diagnostic solutions, today announced its financial results for the third quarter of fiscal 2025 year and (unaudited) ended December 31, 2024.
Dr. Waqaas Al-Siddiq, Biotricity Founder & CEO, said, "In the third quarter of fiscal 2025, we continued our mission to innovate and develop transformative healthcare technologies, while demonstrating our strong commitment to automation, operating efficiency and financial discipline. Our primary focus remains on driving revenue and margins and as such, we were pleased to see these metrics trend upwards. This quarter we continued to leverage our data intelligently, pushing the boundaries of what's possible in healthcare outcomes through cutting-edge research and development. This dedication has allowed us to redefine medical diagnostics and patient care by introducing innovative AI-driven solutions.
Our Biocore suite of products, in concert with our robust platform, continues to improve in design in response to feedback provided by cardiologists and electrophysiologists who relentlessly seek to provide superior patient care. We have now monitored billions of heartbeats for atrial fibrillation (AFib), a leading cause of strokes. Over the past two years, these efforts have made a significant impact, benefiting over hundreds of thousands of patients diagnosed with AFib. Our technology offers them the prospect of earlier medical intervention, producing substantial healthcare savings for both patients and the healthcare system.
Building on this success, we've expanded our AI technology development in remote cardiac care, harnessing proprietary AI technology to provide a suite of predictive monitoring tools that enhance new disease profiling, improve patient management, and revolutionize disease prevention within the healthcare industry. The results for our fiscal third quarter demonstrate year-over-year revenue growth and improvements in all key operating metrics- specifically in recurring technology fees, device sales, and gross margins. Throughout this, we've maintained a strong focus on cost control, reducing expenses, and making consistent progress towards our goal of achieving positive cash flow and profitability."
Q3-FY25 Financial Highlights
- Revenue increased by
21.7% YOY to$3.6 million in Q3 FY25- Gross profit percentage was
76.4% for the three months ended December 31, 2024, as compared to72.9% in the corresponding prior year quarter. This increase in gross margin was primarily attributed to improved margins on technology fees and gained efficiencies in using AI in workflow optimizations. Going forward the Company anticipates continued strong performance in overall blended gross margins. - Net loss decreased
56.7% YOY to$1.32 million , or$0.05 4 per share, from a net loss$3.05 million , or$0.33 9 per share, in Q3-FY24
- Gross profit percentage was
Operating Highlights for Q3-FY25
- Q3-FY25 recurring (TaaS) Technology Fees rose
21.8% YOY to$3.39 million ;67% of this revenue was pure SaaS revenue, which grew by22% from the prior year period, which is a growing percentage of the Company’s business- Continued efficiency gains with revenue growth of
21.7% YoY in Q3-FY25, outpacing a6.2% increase in Cost of Revenue, resulting in a gross margin of76.4% for the quarter. The Company remains focused on achieving sustained positive cash flow by accelerating revenue growth while maintaining cost discipline. Cash flow improvements are expected to continue into the next quarter - Company maintained its strong customer retention track record, supported by quality of customer and cardiologist-friendly support services that emphasize accuracy of diagnostics and ease-of-use.
- Continued to expand its customer base with an increased focus on hospital networks; currently being used by hundreds of centers across 35 states with thousands of cardiologists
- Continued efficiency gains with revenue growth of
Full details of the Company’s financial results will be filed with the SEC on Form 10-Q and available by visiting www.sec.gov.
Financial Results and Business Update Conference Call
Management will host a conference call on Thursday, February 20, 2025 at 5:30 p.m. ET to discuss its financial results for the fiscal 2025 third quarter and provide a business update. Additional details are available under the Investor Relations section of the Company’s website: https://www.biotricity.com/investors/
Event: Biotricity Fiscal Third Quarter 2025 Results Release Conference Call
Date: Thursday, February 20, 2025
Time: 5:30 PM ET (2:30 PM PT)
Toll Free: 877-269-7751
International: 1-201-389-0908
Webcast URL: https://callme.viavid.com/viavid/?callme=true&passcode=13747508&h=true&info=company&r=true&B=6
Investors can begin accessing the webcast 15 minutes before the call, where an operator will register your name and organization. The call will be in listen-only mode.
A replay of the call will be available approximately 3 hours after the live call via the Investors section of the Biotricity website at https://www.biotricity.com/investors/.
Toll Free Replay Number: 844-512-2921
International: 1-412-317-6671
Replay Access ID: 13751857
Expiration: March 06, 2025 at 11:59 PM ET
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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