Biotricity Provides Updated Guidance for Earlier than Expected Path to Profitability due to Growing Revenues and Improving Margins
Biotricity Inc. (OTCQB:BTCY), a Technology-as-a-Service company in the healthcare industry, has announced an accelerated path to profitability by the end of Fiscal Q4. The company reports growing revenues from sales and strategic partnerships, improving margins, and has achieved EBITDA positive on a go-forward cash basis earlier than expected.
CEO Dr. Waqaas Al-Siddiq attributes this success to the company's novel approach and increasing demand for their diagnostically superior remote monitoring solutions. Biotricity's flagship product, Biocore Pro, is highlighted as the only 3 channel connected cardiac monitor in the world. The company aims to leverage its technology suite to address gaps in care delivery for both medical providers and patients.
Biotricity Inc. (OTCQB:BTCY), un'azienda di Technology-as-a-Service nel settore sanitario, ha annunciato un percorso accelerato verso la profittabilità entro la fine del quarto trimestre fiscale. L'azienda riporta crescita dei ricavi provenienti da vendite e partnership strategiche, con margini in miglioramento, e ha raggiunto un EBITDA positivo su base di cassa futura prima del previsto.
Il CEO Dr. Waqaas Al-Siddiq attribuisce questo successo all'approccio innovativo dell'azienda e alla crescente domanda per le loro soluzioni di monitoraggio remoto diagnostiche superiori. Il prodotto di punta di Biotricity, Biocore Pro, è evidenziato come il primo monitor cardiaco connesso a 3 canali al mondo. L'azienda punta a sfruttare la propria suite tecnologica per colmare le lacune nella fornitura di assistenza sia per i fornitori medici che per i pazienti.
Biotricity Inc. (OTCQB:BTCY), una empresa de Technology-as-a-Service en la industria de la salud, ha anunciado un camino acelerado hacia la rentabilidad para finales del cuarto trimestre fiscal. La empresa informa de ingresos en crecimiento provenientes de ventas y asociaciones estratégicas, márgenes en mejora, y ha logrado EBITDA positivo en base de efectivo a futuro antes de lo esperado.
El CEO Dr. Waqaas Al-Siddiq atribuye este éxito al enfoque novedoso de la empresa y a la creciente demanda de sus soluciones de monitoreo remoto diagnósticamente superiores. El producto estrella de Biotricity, Biocore Pro, se destaca como el único monitor cardíaco conectado de 3 canales en el mundo. La empresa busca aprovechar su suite tecnológica para abordar las brechas en la prestación de atención tanto para proveedores médicos como para pacientes.
Biotricity Inc. (OTCQB:BTCY)는 헬스케어 산업의 Technology-as-a-Service 회사로, 회계 연도 4분기 말까지 수익성으로 나아가는 가속 경로를 발표했습니다. 회사는 판매 및 전략적 파트너십으로부터 증가하는 수익을 보고하며, 마진 개선을 이루었고, 앞으로 현금 기준으로 EBITDA 긍정적인 상황을 예상보다 빨리 달성했습니다.
CEO인 Dr. Waqaas Al-Siddiq는 이 성공을 회사의 혁신적인 접근 방식과 진단적으로 우수한 원격 모니터링 솔루션에 대한 수요 증가로 설명합니다. Biotricity의 대표 제품인 Biocore Pro는 세계에서 유일한 3채널 연결 심장 모니터로 강조됩니다. 회사는 의료 제공자와 환자 모두의 치료 제공 격차를 해소하기 위해 기술 제품군을 활용할 계획입니다.
Biotricity Inc. (OTCQB:BTCY), une entreprise de Technology-as-a-Service dans le secteur de la santé, a annoncé un chemin accéléré vers la rentabilité d'ici la fin du quatrième trimestre fiscal. L'entreprise signale une augmentation des revenus grâce aux ventes et aux partenariats stratégiques, une amélioration des marges, et a atteint un EBITDA positif sur une base de trésorerie future plus tôt que prévu.
Le PDG Dr. Waqaas Al-Siddiq attribue ce succès à l'approche novatrice de l'entreprise et à la demande croissante pour leurs solutions de surveillance à distance diagnostiquement supérieures. Le produit phare de Biotricity, Biocore Pro, est mis en avant comme le seul moniteur cardiaque connecté à 3 canaux au monde. L'entreprise vise à tirer parti de son ensemble technologique pour combler les lacunes dans la prestation des soins, tant pour les fournisseurs médicaux que pour les patients.
Biotricity Inc. (OTCQB:BTCY), ein Technology-as-a-Service-Unternehmen im Gesundheitswesen, hat einen beschleunigten Weg zur Rentabilität bis zum Ende des fiskalischen vierten Quartals angekündigt. Das Unternehmen berichtet von
CEO Dr. Waqaas Al-Siddiq führt diesen Erfolg auf den neuartigen Ansatz des Unternehmens und die steigende Nachfrage nach ihren diagnostisch überlegenen Fernüberwachungslösungen zurück. Das Flaggschiffprodukt von Biotricity, Biocore Pro, wird als das einzige 3-Kanal-verbundene Herzmonitor weltweit hervorgehoben. Das Unternehmen plant, seine Technologielösungen zu nutzen, um Lücken in der Versorgung sowohl für medizinische Anbieter als auch für Patienten zu schließen.
- Accelerated path to profitability expected by the end of Fiscal Q4
- Growing revenues from sales and strategic partnerships
- Improving profit margins
- Achieved EBITDA positive on a go-forward cash basis earlier than expected
- Increasing demand for remote monitoring solutions
- None.
Insights
Biotricity's announcement of an accelerated path to profitability is a significant positive development for the company. The key highlights include:
- Achieving EBITDA positive status on a go-forward cash basis
- Growing revenues from sales and strategic partnerships
- Improving profit margins
- Expected profitability by the end of Fiscal Q4
This financial progress demonstrates the company's ability to execute its business strategy effectively. The improvement in both top-line growth and operational efficiency suggests a strengthening market position for Biotricity's remote monitoring solutions.
However, investors should note that the company is still trading on the OTCQB market, which typically indicates a higher risk profile compared to major exchanges. The
While the news is positive, concrete financial figures would provide a clearer picture of the company's performance. Investors should look forward to the next earnings report for detailed metrics on revenue growth, margin improvements and the exact timeline for reaching full profitability.
Biotricity's progress in the remote monitoring space is noteworthy, particularly with their Biocore Pro device, touted as the only 3-channel connected cardiac monitor globally. This unique offering could provide a significant competitive advantage in the rapidly growing telemedicine market.
The company's Technology-as-a-Service (TaaS) model aligns well with current healthcare trends, offering potential for recurring revenue streams and scalability. The emphasis on "diagnostically superior" solutions suggests a focus on clinical efficacy, which is important for adoption by healthcare providers.
However, the remote monitoring market is becoming increasingly competitive, with both established medical device companies and new entrants vying for market share. Biotricity will need to maintain its technological edge and expand its partnerships to sustain growth.
The company's ability to bridge the "wide gap in care delivery" will be critical to its long-term success. Investors should monitor Biotricity's product pipeline, clinical validation studies and regulatory approvals to assess its potential for continued market penetration and revenue growth.
The company has achieved EBIDTA positive on a go-forward cash basis
REDWOOD CITY, CA / ACCESSWIRE / October 3, 2024 / Biotricity Inc. (OTCQB:BTCY), an innovative Technology-as-a-Service (TaaS) company that is reshaping the landscape of the healthcare industry with state-of-the-art remote monitoring and diagnostic solutions, today reports compelling financial and strategic advancements that will propel the company towards profitability by the end of Fiscal Q4. Biotricity is now on an accelerated trajectory to profitability due to growing revenues from sales and strategic partnerships, improving margins, and an earlier than expected milestone of achieving EBITDA positive on a go-forward cash basis.
Biotricity is committed to leveraging its cutting-edge technology suite to meet the evolving needs of the healthcare sector, bridging the wide gap in care delivery for both medical providers and patients. The company's strategic initiatives and solid financial foundation position it to capitalize on market opportunities and continue to drive sustainable growth. For more information about Biotricity Inc. and its revolutionary suite of healthcare solutions, please visit www.biotricity.com/investors.
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.
Investor relations:
Biotricity Investor Relations
Investors@biotricity.com
SOURCE: Biotricity, Inc.
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