Welcome to our dedicated page for Biotricity news (Ticker: BTCY), a resource for investors and traders seeking the latest updates and insights on Biotricity stock.
Biotricity Inc. (BTCY) delivers innovative medical technology solutions focused on AI-powered cardiac monitoring and chronic disease management. This news hub provides investors and healthcare professionals with essential updates on the company’s advancements in remote patient care.
Access timely press releases covering regulatory milestones, clinical study results, and strategic partnerships with healthcare institutions. Stay informed about product developments like the Bioflux cardiac monitoring system and consumer-focused Biolife platform, which combine medical-grade accuracy with AI-driven analytics.
Our curated news collection features earnings reports, technology patent announcements, and market expansion updates. Bookmark this page for verified information about BTCY’s progress in transforming cardiac care through connected health solutions.
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.
Biotricity Inc. (NASDAQ: BTCY) expands its market reach in the pulmonary and neurology fields through strategic partnerships with leading home-based diagnostic companies. The collaborations aim to provide comprehensive screenings for patients with sleep or neurological disorders, who have elevated risks for cardiac issues. With a significant focus on integrated healthcare solutions, Biotricity is addressing the critical need for accessible and personalized care for patients with multiple conditions.
