Company expects to report Q3-FY25 revenue growth of 22% from the corresponding prior year quarter to $3.6 million – an 11% increase sequentially from the immediately preceding quarter
Management continues to drive recurring revenue growth and efficiencies
Company to report positive cash flow for Q3-FY25 on current operating basis, before interest, dividends and amortization
Company to report improved gross margins and operating results, as the Company nears its goal of achieving profitability
Management to release full financial results on Wednesday February 19th and host its Q3 Fiscal Year 2025 Financial Results Call on Thursday February 20th at 5:30 PM EST.
REDWOOD CITY, Calif., Feb. 17, 2025 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY) (“Biotricity” or the “Company”), a Technology-as-a-Service (TaaS) company operating in the remote cardiac monitor sector of consumer healthcare, today provided guidance on its financial results for the third quarter of fiscal 2025 year and (unaudited) ended December 31, 2024.
Dr. Waqaas Al-Siddiq, Biotricity Founder & CEO, said, "In the third quarter of fiscal 2025, we continued our mission to develop innovative transformative healthcare technologies, while demonstrating our strong commitment to automation, operating efficiency and financial discipline. Our primary focus remains on driving revenue and margins and as such, we were pleased to see these metrics trend upwards. This quarter we continued to leverage our Biocore suite of products, and the data collected, pushing the boundaries of what's possible in healthcare outcomes through cutting-edge research and development. We continue our dedicated path of redefining medical diagnostics and patient care by introducing innovative AI-driven solutions.
The results for our third quarter demonstrate year-over-year and quarter-over-quarter revenue growth, as well as improvements in all key operating metrics. By growing our revenues, maintaining a strong focus on cost control to improve margins and reduce expenses, we continue to improve cash flow and have made consistent progress towards our goal of achieving profitability."
Financial Results and Business Update Conference Call
Management will host a conference call on Thursday, February 20th at 5:30 p.m. ET to discuss its financial results for the fiscal 2025 third quarter and provide a business update. Additional details are available under the Investor Relations section of the Company’s website: https://www.biotricity.com/investors/
Event: Biotricity Fiscal Third Quarter 2025 Results Release Conference Call
Investors can begin accessing the webcast 15 minutes before the call, where an operator will register your name and organization. The call will be in listen-only mode.
A replay of the call will be available approximately 3 hours after the live call via the Investors section of the Biotricity website at https://www.biotricity.com/investors/.
Toll Free Replay Number: 1-844-512-292
International: 1-412-317-6671
Replay Access ID: 13751857
Expiration: Thursday, March 06, 2025 at 11:59 PM ET
Full details of the Company’s financial results will be filed with the SEC on Form 10-Q on February 19, 2025, and available by visiting www.sec.gov thereafter.
About Biotricity Inc.
Biotricity is reforming the healthcare market by bridging the gap in remote monitoring and chronic care management. Doctors and patients trust Biotricity’s unparalleled standard for preventive & personal care, including diagnostic and post-diagnostic solutions for chronic conditions. The Company develops comprehensive remote health monitoring solutions for the medical and consumer markets. To learn more, visit www.biotricity.com.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” “project,” or “goal” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of Bioflux or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company’s future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company’s inability to expand the Company’s business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s failure to implement the Company’s business plans or strategies. These and other factors are identified and described in more detail in the Company’s filings with the SEC. There cannot be any assurance that the Company will ever become profitable. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
