Biotricity Inc Stock Price, News & Analysis

Biotricity (OTCQB:BTCY) has launched a new cardiac monitoring pilot program with a major hospital system serving over 800,000 individuals. This partnership aims to address the growing demand for innovative cardiac monitoring solutions, given that 90% of U.S. adults are at risk of cardiovascular disease and a projected shortage of up to 124,000 physicians in the next 12 years.

Biotricity offers the world's only remote three-channel compact cardiac monitoring device, providing essential health insights and facilitating quicker treatment. The company's solutions can help healthcare professionals increase their revenue fivefold compared to existing options. This is particularly important as 30% of rural hospitals face closure threats, potentially limiting care access for 60 million Americans in those regions.

Biotricity Inc. (OTCQB:BTCY) reported its Q1 fiscal 2025 results, showing continued margin improvement and reduced losses. Key highlights include:

- Revenue grew 6% YOY to $3.2 million
- Gross margins improved to 73.8% from 63.5% last year
- SG&A reduced by 16% to $3 million
- Operating loss decreased by 51.8% to $1.1 million
- EBITDA and Adjusted EBITDA improved by 18.9% and 49.8% YOY

The company's recurring Technology Fee (SaaS) revenue accounted for over 94% of total revenue with a 76% gross margin. Biotricity continues to focus on increasing sales of remote cardiac monitoring devices and subscription-based services, aiming for profitability and cash-flow break-even.

RedChip Companies will air interviews with LOBO EV Technologies (Nasdaq:LOBO) and Biotricity, Inc. (Nasdaq:BTCY) on Bloomberg TV this Saturday, July 27, at 7 p.m. ET. Harry Schulman, an independent director of LOBO EV, will provide a corporate update. LOBO EV, based in Wuxi, China, is an OEM and ODM manufacturer of electric vehicles, including e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles.

The Chinese e-bike market, currently valued at $16 billion, is forecasted to reach $31.3 billion in the next five years with a CAGR of 11.76%. LOBO EV's financial performance and market opportunities position it for potential growth in China's EV industry.

Biotricity Inc. (Nasdaq: BTCY) has announced significant improvements in operational efficiency and margin performance driven by enhancements to its proprietary AI Cloud platform. The latest version has improved tech stack efficiency by 20%, expected to result in a 200-300 basis point margin improvement in coming quarters. The next version in development is anticipated to enhance the tech stack by another 20%, potentially adding 100-200 basis points to margins.

These improvements are accelerating Biotricity's path to breakeven and positive cash flow. The company's AI Cloud platform leverages over 500 billion beats of anonymized data to build predictive cardiac AI models, enhancing diagnoses and interventions. Biotricity is targeting a $35 billion total addressable market, with solutions used by cardiologists across 35 states and hundreds of centers, supported by a high retention rate of approximately 99%.

RedChip Companies will air interviews with Enlivex Therapeutics (Nasdaq:ENLV) and Biotricity, Inc. (Nasdaq:BTCY) on the RedChip Small Stocks, Big Money™ show on Bloomberg TV on July 20, 2024, at 7 p.m. ET. Oren Hershkovitz, Ph.D., CEO of Enlivex Therapeutics, will provide a corporate update on their clinical stage macrophage reprogramming immunotherapy company developing Allocetra™, a universal, off-the-shelf cell therapy designed to reprogram macrophages into their homeostatic state. Allocetra™ has the potential to address life-threatening and debilitating unmet medical needs in conditions like osteoarthritis and sepsis.

Biotricity (Nasdaq: BTCY) and bioAffinity Technologies (Nasdaq: BIAF) will be featured on the RedChip Small Stocks, Big Money™ show on Bloomberg TV this Saturday, July 13, at 7 p.m. ET. Biotricity's CEO, Dr. Waqaas Al-Siddiq, will discuss their portfolio of cardiac monitoring solutions, including FDA-cleared Bioflux® and Biocore. With 8% market share in cardiology, Biotricity aims for profitability and expects to be EBITDA positive by end of 2024. bioAffinity Technologies' CEO, Maria Zannes, will provide updates on their early-stage cancer diagnostic product, CyPath® Lung. The noninvasive test has shown high sensitivity, specificity, and accuracy, and is part of a pilot program in Texas. The lung cancer screening market is projected to reach $5.7 billion by 2030, and bioAffinity holds substantial patents and insider ownership of 39%, indicating strong growth potential.

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.