BIOTRICITY INC - BTCY STOCK NEWS

Biotricity (NASDAQ:BTCY) announced its accelerated timeline to EBITDA positive, aiming to achieve this milestone by the end of 2024, earlier than previously expected. The growth is driven by strategic initiatives, technological advancements, and robust financial performance in 2023, including a 25.2% revenue increase and substantial margin improvements.

The expansion of Biotricity's Cardiac AI Cloud platform, leveraging over 500 billion beats of anonymized data, and strategic partnerships with Group Purchasing Organizations (GPOs) covering 90% of U.S. hospitals enhance its market reach and negotiating power. Recent Health Canada approval for Biocore opens new revenue opportunities in the $1.56 billion Canadian cardiology devices market.

Targeting a $35 billion total addressable market, Biotricity's solutions are widely used by cardiologists across 35 states, maintaining high retention rates of around 99% and a strong recurring revenue base with notable LTV-to-CAC ratios.

Biotricity (Nasdaq: BTCY) has launched a new cardiac monitoring pilot program with a prominent hospital group, covering 60 sites across multiple states. The company's three-channel connected solution offers superior diagnostics, reduced patient risk, and improved workflow efficiency, resulting in better clinical outcomes and lower healthcare costs.

This program positions Biotricity to accelerate the adoption of its products and demonstrates the growing demand for advanced cardiac monitoring solutions. The collaboration aims to validate the benefits of the technology in diverse healthcare settings and refine patient interaction protocols and data collection processes.

With a focus on a $35 billion market opportunity, Biotricity aims to revolutionize cardiac care globally.

Biotricity has launched HeartSecure, a direct-to-consumer cardiac screening service, now available for online purchase. Addressing the leading cause of death, heart disease, HeartSecure offers immediate, at-home screening results, bypassing the traditional wait times for appointments and test results. Key benefits include instant results, accessibility, and affordability. Dr. Waqaas Al-Siddiq, Founder and CEO, highlights HeartSecure's role in democratizing cardiac health and creating new revenue streams. This innovation aligns with the expanding home healthcare market, expected to grow from $250 billion in 2023 to $383 billion by 2028.

Biotricity has reported a 25.2% year-over-year (YOY) revenue growth for fiscal year 2024, reaching $12.1 million. The company's gross margin improved by 1280 basis points to 69.3%, and operating expenses decreased by 17.6%. Net loss was reduced by 24.5% to $14.9 million, or $1.66 per share. In the fourth quarter, revenue rose 15.9% to $3.2 million, and gross margin improved by 1550 basis points to 71.5%. Biotricity's EBITDA improved by $7.2 million, marking a 44.6% reduction in negative EBITDA. The company has secured strategic alliances with major Group Purchasing Organizations (GPOs), expanding its market reach to 90% of U.S. hospitals. Additionally, Health Canada approved Biocore, facilitating new revenue channels in the Canadian cardiology market.

Biotricity (NASDAQ: BTCY), a Technology-as-a-Service (TaaS) firm in the remote cardiac monitor sector, will host its fourth quarter and fiscal year 2024 financial results and business update call on June 27, 2024.

Founder and CEO Dr. Waqaas Al-Siddiq and CFO John Ayanoglou will present the company's performance and future outlook, followed by a Q&A session.

The call is scheduled for 4:30 pm ET and can be accessed toll-free at 1-877-269-7751 or internationally at 1-201-389-0908. A webcast will also be available, with a replay accessible approximately three hours after the live event until July 11, 2024.

Biotricity, a leader in Technology-as-a-Service (TaaS) for healthcare, has launched HeartSecure, a direct-to-consumer heart health screening service.

Heart disease is a major global health issue, with cardiovascular disease causing one death every 1.5 seconds worldwide. In the U.S., 127 million adults have at least one risk factor for heart disease, and it accounts for one in three deaths.

HeartSecure aims to address the long wait times for cardiac screenings by providing an affordable, user-friendly solution. Early detection can reduce the risk of heart attacks and strokes by over 80%.

This service is part of Biotricity's mission to democratize healthcare and create new revenue streams while offering a -time discounted launch offer.

Biotricity (NASDAQ:BTCY) has released its year-end guidance, showcasing significant improvements in its financial metrics. The company expects to meet analyst revenue targets with a projected revenue growth of over 24% year-over-year (YoY). Additionally, Biotricity anticipates a decrease in its Loss from Operations by more than 40% YoY and an improvement in margins by over 10% YoY.

CEO Dr. Waqaas Al-Siddiq highlighted these metrics as indicators of the company's successful execution and the milestone of achieving cash flow breakeven. These improvements are attributed to higher adoption of Biotricity’s TaaS model, which boasts excellent margins and customer retention, particularly within the cardiac market.

Biotricity (NASDAQ: BTCY), a leader in Technology-as-a-Service (TaaS) in healthcare, announced that 97% of its Preferred A shareholders have converted their shares into Restricted Common Stock.

This move signifies a strong confidence in Biotricity's future and its ability to meet upcoming milestones. Dr. Waqaas Al-Siddiq, Founder and CEO, highlighted that this conversion indicates increased enthusiasm from long-term shareholders.

Recent achievements for the company include securing three GPO partnerships that cover 87% of US hospitals, increased margins, higher revenues, and reduced losses. Biotricity is also approaching EBITDA neutrality and becoming cash flow positive monthly.

Biotricity (NASDAQ: BTCY) announces the upcoming launch of HeartSecure, the first-ever direct-to-patient cardiac screening service. Targeting the $1.05 billion home heart health market, HeartSecure aims to provide home-based cardiac health checks for 127 million Americans at risk for heart disease. This service addresses long wait times and financial barriers associated with current cardiologist visits.

HeartSecure combines advanced technology with top cardiologists' expertise to detect potential heart issues early. It responds to the growing need for accessible cardiac screenings due to the increasing prevalence of chronic diseases. HeartSecure's launch is seen as a major growth opportunity for Biotricity in the tele-health market, which has expanded significantly post-pandemic.