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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. (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.
Biotricity Inc. (NASDAQ:BTCY) will present at the H.C. Wainwright Global Investment Conference from May 23-26, 2022. The Company’s Founder & CEO, Dr. Waqaas Al-Siddiq, is scheduled to speak on May 24th at 3:30 PM ET at Splash 16. He will discuss the Company’s business developments and future objectives as Biotricity aims to become a comprehensive cardiac diagnostics platform. This hybrid event offers both virtual and in-person participation, emphasizing Biotricity’s commitment to innovation in healthcare.
Biotricity (NASDAQ:BTCY) reported strong strategic initiatives and growth opportunities in its recent shareholder update. The company has expanded its national sales force to cover 27 states, enhancing demonstrations of its cardiac devices. The FDA cleared its Biotres cardiac monitoring device, expanding its total addressable market (TAM) from $1B to $25B. Biotricity achieved a significant 93% YOY revenue growth to $1.93 million in Q3 2021 and raised $12 million in non-dilutive debt financing. As COVID-19 recedes, the company anticipates increased sales opportunities in 2022.
Biotricity (NASDAQ:BTCY) announced pre-order sales of its FDA-cleared wireless wearable device, Biotres, designed for early detection of cardiac arrhythmias. Official commercial sales will launch in April 2022, following strong pre-order demand from physicians and individual users. Biotres, a three-lead device, enhances ECG monitoring efficiency compared to traditional Holter monitors, positioning the company to tap into a $5.7 billion market. Biotricity plans to expand its product line throughout 2022, aiming to increase revenue and customer reach.
Biotricity, Inc. (NASDAQ:BTCY) announced its participation in the 34th Annual Roth Conference from March 13-15, 2022, in Dana Point, California. This follows a strong fiscal third quarter, reporting a 93% year-over-year revenue growth and its highest cash position. The company is now taking preorders for Biotres, a new FDA-cleared wireless cardiac monitoring device aimed at the $5.7 billion market for cardiac arrhythmia monitoring. The device enhances long-term ECG data collection, expected to ship starting April 1, 2022.
Biotricity (NASDAQ:BTCY) has announced the commencement of pre-orders for its new Biotres device, a three-lead ECG monitoring system aimed at early detection of cardiac arrhythmias. Following recent FDA clearance, pre-orders started on February 23, 2022, with shipping scheduled for April 1, 2022. The Biotres device aims to disrupt the existing cardiac monitoring market, valued at approximately $5.7 billion, by providing continuous ECG data and remote uploading capabilities, enhancing diagnostic speed and efficiency.
Biotricity (BTCY) reported Q3 FY22 financial results with a remarkable 93% year-over-year revenue increase to $1.93 million, outpacing the 40% increase in SG&A. The company's cash position reached a historic $16.8 million. Despite a net loss of $7.34 million due to one-time expenses, adjusted loss is $6.0 million. Biotricity anticipates continued triple-digit revenue growth for the full year, fueled by the launch of innovative products like Bioheart and the FDA-cleared Biotres, expanding its addressable market significantly.
SWK Holdings Corporation (Nasdaq: SWKH) updated its portfolio performance for the second half of 2021, highlighting new financings including $10 million to MolecuLight and $12 million to Biotricity (NASDAQ: BTCY). CEO Winston Black noted that 2022 aims to restore deal origination to historical levels. Enteris BioPharma's partnership with Cara Therapeutics is advancing with a $5 million milestone payment. Additionally, Biolase (NASDAQ: BVS) anticipates a 44-47% revenue increase for the fourth quarter. SWK focuses on providing flexible financing solutions to small and mid-sized life science companies.
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