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Biotricity, Inc. (BTCY) is a medical technology company at the forefront of healthcare innovation. Specializing in biometric data monitoring solutions, Biotricity aims to improve healthcare by developing remote monitoring solutions for chronic disease prevention and management. Its premier product, Bioflux, is an ECG monitoring system used by physicians to diagnose and monitor cardiac patients remotely. Biotricity's Biolife solution extends medical-grade monitoring to the consumer market, empowering users to self-manage chronic conditions through lifestyle changes. With a focus on preventive healthcare, Biotricity's R&D efforts aim to put health management directly into the hands of individuals, easing the burden on the healthcare system.
Biotricity Inc. (NASDAQ:BTCY) reported a revenue of $2.4 million for the fiscal 2023 second quarter, showing a 14% increase sequentially. The gross profit reached $1.3 million, reflecting a gross margin of 54%. Despite this positive revenue growth, the company recorded a net loss of $4.9 million, equating to $0.094 per share. Management highlighted new distribution partnerships and the launch of the Biocare Cardiac Disease Management Solution as key strategies for future profitability, anticipated within 18 months. Notably, the Bioheart monitor received TIME's Best Inventions accolade.
Biotricity Inc. (NASDAQ:BTCY) announced its Bioheart device was included in TIME's Best Inventions of 2022. This continuous heart rhythm monitor offers unlimited heart data insights, transforming consumer cardiac care. Unlike traditional devices, Bioheart provides 24/7 monitoring for comprehensive heart health insights. Biotricity aims to revolutionize cardiac health with this innovative technology, allowing users to track heart metrics via a smartphone app. The company emphasizes its role in preventive health care and remote monitoring solutions.
Biotricity Inc. (NASDAQ:BTCY) announced a conference call on November 14, 2022, at 4:30 p.m. ET to discuss its fiscal 2023 second quarter financial results and provide a business update. The call is accessible via a toll-free number and a webcast link. A replay will be available until November 28, 2022.
Biotricity specializes in remote health monitoring solutions for chronic care management, aiming to fill gaps in preventive health care.
Biotricity (NASDAQ:BTCY) has launched Biocare Cardiac, a comprehensive cardiac disease management solution, following successful pilot programs in Oklahoma and Kentucky. This innovative platform integrates diagnostics, remote patient monitoring, and telemedicine, designed for cardiologists and their patients. Over 2,000 cardiologists are expected to utilize this tool, which provides actionable data to enhance patient care. Monthly reports and alerts enable physicians to intervene promptly based on real-time patient data, potentially improving health outcomes.
Biotricity (NASDAQ:BTCY) announced that Waqaas Al-Siddiq, the Founder and CEO, will speak at the American Medical Device Summit on October 19, 2022, in Chicago. The panel discussion focuses on medical devices in at-home patient care and will take place from 4:20 p.m. to 4:55 p.m. CST. The summit will feature over 50 speakers and 200 attendees, providing insights into trends and innovations in medical devices. Biotricity aims to enhance chronic care management and remote monitoring solutions.
Biotricity Inc. (NASDAQ:BTCY) has announced a significant milestone, surpassing 2 billion heartbeats analyzed for Atrial Fibrillation (AFib), a major cardiac arrhythmia. The company utilizes its Bioflux mobile telemetry device for real-time ECG monitoring, enhanced by proprietary AI algorithms. This achievement is positioned to facilitate better automation, scalable operations, and growth in margins. The global AFib market is projected to reach USD 26 billion by 2027, with Biotricity aiming to leverage its R&D capabilities for a competitive edge in predictive monitoring.
Biotricity Inc. (NASDAQ:BTCY) announced a Phase I study on its innovative AI system, Bioflux-AI, for real-time monitoring of stroke risk in Chronic Kidney Disease (CKD) patients. Sponsored by the NIH, the study aims to address the significantly higher stroke risk in CKD patients, which is 5 to 30 times greater than the general population. The technology combines mobile cardiac telemetry with AI algorithms to improve predictive accuracy, targeting a reduction in mortality rates and healthcare costs associated with CKD treatment. Biotricity aims to enhance personalized care through this initiative.
Biotricity (NASDAQ: BTCY) reported its fiscal 2023 first-quarter financial results on August 15, 2022, revealing a revenue of $2.1 million and a gross profit of $1.2 million, maintaining a gross margin of 60%. The company experienced a net loss of $5 million, or $0.098 per share. CEO Dr. Waqaas Al-Siddiq highlighted the successful rollout of new product lines, including Biotres and Bioheart, following FDA clearance. The expansion aims to enhance the Biotricity ecosystem and target hospital networks.
Biotricity Inc. (BTCY) reported significant growth in its fiscal 2022 results, achieving a 126% increase in annual revenue to $7.7 million. The fourth quarter saw an 81% rise in revenue, totaling $2.15 million, with gross profit margins enhancing to 67%. Despite robust revenue growth, the company recorded a net loss of $30.2 million for FY22. Biotricity launched new products including Biotres and Bioheart, expanding its market to approximately $25 billion. The company holds $12 million in cash and has enhanced its industry profile by being listed on NASDAQ.
Biotricity Inc. (NASDAQ:BTCY) announced its expected inclusion in the Russell Microcap® Index effective June 27, 2022. This membership, determined by market capitalization and style attributes, is significant for the company as Russell indexes are widely utilized by investment managers and institutional investors, with approximately $12 trillion in assets benchmarked against them. The inclusion also means Biotricity will be part of both growth and value style indexes for one year, enhancing its visibility in the financial markets.
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