Biotricity's Path Towards Breakeven Accelerated by Latest Diagnostic Product, Biotres Pro, Garnering Rapid Interest from Existing and New Customers

Rhea-AI Summary

Biotricity Inc. announces high demand for its latest diagnostic product, Biotres Pro, expected to increase revenue by up to 10% in fiscal 2025. The device has sold out in its initial production run, with customers placing pre-orders for the next run. Dr. Waqaas Al-Siddiq, Founder and CEO, anticipates that Biotres Pro will accelerate the company's path to breakeven.

Positive

• High demand for Biotres Pro expected to increase revenue by up to 10% in fiscal 2025
• Initial production run of Biotres Pro sold out, with customers placing pre-orders for the next run
• Biotres Pro commands a premium monthly subscription price with cellular and Bluetooth connectivity
• Dr. Waqaas Al-Siddiq believes Biotres Pro will accelerate the company's path to breakeven

Negative

• None.

Insights

Medical Technology Analyst

The introduction of Biotres Pro by Biotricity represents a significant advancement in the medical technology space, particularly in the cardiac diagnostic segment. As a wearable 3-channel ECG device with both cellular and Bluetooth connectivity, it addresses a key market need for continuous patient monitoring with enhanced connectivity options. Patient compliance is often a challenge with medical devices, so the ease of use associated with Biotres Pro could lead to higher usage rates and, as a result, more consistent data collection for healthcare providers.

From a financial perspective, the projected 32% increase in average subscription price is notable. Assuming the company can maintain customer retention and satisfaction, this could result in a meaningful uplift to Biotricity's revenue streams. The 10% revenue increase from sales to existing customers is a conservative yet optimistic estimate, as it does not account for the potential market expansion due to new customer acquisition fueled by the initial sell-out and pre-orders for the next production run. If Biotricity can sustain this momentum, it may reach its breakeven point more swiftly than anticipated, which is a important consideration for investors looking at the company's long-term financial health.

Market Research Analyst

Market trends indicate a growing demand for remote patient monitoring technologies and Biotricity's Biotres Pro is well-positioned to capitalize on this trend. The device's unique selling proposition (USP) of being the only 3-channel patch-like ECG with multiple connectivity options could give it a competitive edge in the market. The rapid sell-through and pre-orders for the next run signify a robust market demand and validate the company's product development strategy.

Furthermore, capturing both existing and new customers suggests that Biotricity is successfully expanding its market share. However, the scalability of production and the ability to meet market demand without significant delays will be important for maintaining customer satisfaction and loyalty. It is also important for Biotricity to demonstrate that the higher price point of Biotres Pro is justified by superior clinical outcomes or patient convenience, which would underpin the product's value proposition and support the company's growth trajectory.

Financial Analyst

Upon analyzing the financial implications of Biotricity's latest product release, several points stand out for potential investors. The sell-out of Biotres Pro's initial production run and the subsequent pre-orders are immediate indicators of revenue growth. However, investors should carefully observe the company's next earnings report for actual performance metrics against these projections. As a TaaS company in the medical field, Biotricity's business model relies heavily on subscription-based revenue and a 32% price increase per subscription could significantly enhance the company's recurring revenue model.

Investors should also consider the costs associated with the rapid scale-up of production and marketing efforts to support the launch of Biotres Pro. If managed effectively, these expenses could be offset by the increased revenue, contributing positively to the company's margins. Nonetheless, the longer-term impact will depend on the company's ability to retain customers at the higher subscription rate and to maintain operational efficiency as it scales up to meet demand.

REDWOOD CITY, CA / ACCESSWIRE / April 26, 2024 / Biotricity Inc. (NASDAQ:BTCY), a pioneering Technology-as-a-Service (TaaS) company dedicated to delivering top-of-the-line medical diagnostic and consumer healthcare solutions, announces high demand for its latest breakthrough device, Biotres Pro. This device is easy to wear, resulting in excellent patient compliance and a higher selling price. Biotres Pro is expected to raise the average subscription price by over 32%. This will translate to a revenue increase of up to 10% from sales to existing customers over the course of fiscal 2025. Biotres Pro is also capturing the attention of new customers. The initial production run of Biotres Pro has sold out, with customers placing pre-orders for the next run, which is scheduled to ship to customers by end of May.

Biotres Pro, the only 3-channel patch-like ECG in the world with both cellular and Bluetooth connectivity commands a premium monthly subscription price compared to its predecessors. The interest from existing customers transitioning to Biotres Pro and the influx of new customers have set a dynamic stage for Biotricity's future opportunity.

Dr. Waqaas Al-Siddiq, Founder and CEO of Biotricity, remarked, "We are intensely focused on upgrading our customer base with Biotres Pro and closing our existing pipeline and active pilots. This product's positive reception from both existing and new customers, and the resulting boost to revenue that we anticipate, will accelerate our path to breakeven."

As Biotricity continues to push the boundaries of innovation in healthcare technology, investors are encouraged to explore the company's anticipated revenue trajectory and comprehensive suite of diagnostic solutions at www.biotricity.com/investors.

About Biotricity

Biotricity is transforming the healthcare market by bridging the gap in remote monitoring and chronic care management with a focus on cardiology. Physicians and patients trust Biotricity's unparalleled standard for preventive and 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 and follow us on Twitter and LinkedIn.

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) a 10% revenue boost solely from sales to its existing client base alone, the exceptional interest from existing customers transitioning to Biotres Pro and the influx of new customers setting a dynamic stage for Biotricity's future opportunity, and having an expedited track to breakeven (ii) 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, (iii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iv) the Company's future financial performance, (v) the regulatory regime in which the Company operates or intends to operate and (vi) the assumptions underlying or relating to any statement described in points (i), (ii), (iii), (iv), (v) or (vi) 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 several 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 because 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 ability to continue to generate interest in Biotres Pro, increase revenue and breakeven; 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 to reflect any event or circumstance that may arise after the date of this release.

Investor Relations Contacts

investors@biotricity.com

Dave Gentry
RedChip Companies, Inc.
1-407-644-4256
BTCY@redchip.com

SOURCE: Biotricity, Inc.

View the original press release on accesswire.com

FAQ

What is the name of the latest diagnostic product announced by Biotricity?

The latest diagnostic product announced by Biotricity is Biotres Pro.

What is the expected revenue increase from sales to existing customers for fiscal 2025?

The revenue increase from sales to existing customers for fiscal 2025 is up to 10%.

Who is the Founder and CEO of Biotricity?

The Founder and CEO of Biotricity is Dr. Waqaas Al-Siddiq.

Where can investors explore Biotricity's anticipated revenue trajectory and diagnostic solutions?

Investors can explore Biotricity's anticipated revenue trajectory and diagnostic solutions at www.biotricity.com/investors.