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REDWOOD CITY, CA / ACCESSWIRE / September 19, 2024 /Biotricity Inc.(OTCQB:BTCY), a leading Technology-as-a-Service (TaaS) company that is redefining the healthcare industry with cutting edge remote monitoring and diagnostic solutions, announces the launch of a new cardiac monitoring pilot program with a top hospital system. With 90% of U.S. adults at risk of developing cardiovascular disease and a projected shortage of up to 124K physicians in the next 12 years, the demand for Biotricity's innovative cardiac monitoring solutions has never been more urgent.
"This partnership marks a significant step forward in our mission to transform care delivery through advanced remote monitoring technology," said Dr. Waqaas Al-Siddiq, founder and CEO of Biotricity. "By collaborating with leaders across medical systems, we are not only enhancing patients' healthcare journeys but also addressing the urgent need for accessible solutions."
Biotricity offers the world's only remote three-channel compact cardiac monitoring device, providing healthcare professionals with essential insights into patients' health, facilitating quicker treatment to optimize outcomes. The company's high-quality data results in decreased patient risk and significantly enhanced clinic workflow efficiency. Moreover, Biotricity empowers healthcare professionals to increase their revenue fivefold compared to existing solutions. This is especially vital as 30% of rural hospitals face the threat of closure due to financial pressures, which would leave 60 million Americans in those regions with limited access to care.
Integration of Biotricity's advanced cardiac monitoring solutions into major hospitals will poise the company to play a crucial role in reshaping how cardiovascular health and other chronic diseases are managed. For more information about Biotricity and its innovative healthcare solutions, please visit Biotricity.
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.
Biotricity Investor RelationsInvestors@biotricity.com
SOURCE: Biotricity, Inc.
View the original press release on accesswire.comThe Company shows continued progress towards cash-flow break even and profitability
Recurring Technology Fee (SaaS) revenue - over 94% of total revenue with a 76% gross margin, which rose over 400 basis points and is expected to continue to trend higher
Gross margins improved significantly to 73.8 from 63.5% in the same period last year, and 59.6% 2 years earlier
Reduced SG&A to $3 million, down 16% compared to same period last year
Operating loss of $1.1 million, indicated efficiency gains of $1.2 million from the preceding year quarter - a 51.8% improvement
Growth in revenue of 6% YOY to $3.2 million
EBITDA and Adjusted EBITDA improved by 18.9% and 49.8%, respectively, from the corresponding period in the prior year;
Quarter over preceding Quarter, EBITDA improved by $1M, or 36%, whereas Adjusted EBITDA improved by $1.5M or 59%.
Comprehensive loss was reported at $6.9 million, due to one-time non-cash items of $3.2 million; removing these would have resulted in a net loss of $3.7 million, consistent with prior year levels of $3.8 million due to interest rate increases that countered the impact of efficiency gains
REDWOOD CITY, CA / ACCESSWIRE / August 21, 2024 /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 announced its financial results for the first quarter of fiscal 2025 year ended June 30, 2024.
Dr. Waqaas Al-Siddiq, Biotricity Founder & CEO, commented, "Our first quarter fiscal 2025 marked a strong start to the year. Despite the seasonally low summer months that can last into September, we saw impressive growth in our hospital sales pipeline, and future technology fees and device sales. We continued to achieve efficiencies from our prudent fiscal management aimed at bolstering our bottom line, and the effective use of our distribution channels. Given our consistently strong gross margins on technology fees of approximately 74% this quarter, and our growing recurring revenue, we anticipate continued improvement in overall blended gross margin over time. Our AI segment is also demonstrating accelerated progress. For the remainder of this calendar year, our focus remains increased sales of our remote cardiac monitoring devices and suite of products and ramp-up of our subscription-based service to continue on our clear path to profitability."
"EBITDA and Adjusted EBITDA improved by $5.1 million and $5.7 million, or 38% and 46%, respectively when comparing the trailing 12 months to the corresponding prior year trailing 12 month period. This is significant when we consider the EBITDA and adjusted EBITDA measures for the three month period ended June 30, 2024, which improved by 18.9% and 49.8%, respectively. These are indicators of the Company's progress towards breakeven profitability as well as improvement towards operating cash-flow break-even.
Full details of the Company's financial results will be filed with the SEC on Form 10-Q and available by visiting www.sec.gov.
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.
Contacts
Investor Relations
Biotricity Investor RelationsInvestors@biotricity.com
SOURCE: Biotricity, Inc.
View the original press release on accesswire.comORLANDO, FL / ACCESSWIRE / July 26, 2024 / RedChip Companies will air interviews with LOBO EV Technologies Ltd. (Nasdaq:LOBO) and Biotricity, Inc. (Nasdaq:BTCY) on the RedChip Small Stocks, Big Money™ show, a sponsored program on Bloomberg TV, this Saturday, July 27, at 7 p.m. Eastern Time (ET). Bloomberg TV is available in an estimated 73 million homes across the U.S.
Access the interviews in their entirety at:
In an exclusive interview, Harry Schulman, an independent director of LOBO EV, appears on the RedChip Small Stocks Big Money™ show on Bloomberg TV to provide a corporate update. LOBO EV, headquartered in Wuxi, China, is a pioneering OEM and ODM manufacturer and seller of electric vehicles (EVs), including e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles, tailored for various demographics, including mobility solutions for the elderly and disabled. Beyond vehicle manufacturing, LOBO EV offers automobile information and entertainment software development services to industry OEMs. The Company has a proven track record of leveraging advanced technologies in connectivity, multimedia, interactive systems, and artificial intelligence to enhance user experience with affordable, convenient, and enjoyable driving solutions. The Chinese e-bike market, currently valued at $16 billion, is forecasted to nearly double, reaching $31.3 billion in the next five years with a compound annual growth rate (CAGR) of 11.76%, according to Research and Markets. LOBO EV's robust financial performance across its key segments, coupled with the vast market opportunities within China's EV industry, position LOBO EV for significant upside.
Mark White, CEO of Nexalin, appears on the RedChip Small Stocks Big Money™ show on Bloomberg TV to provide a corporate update. Nexalin stands at the forefront of the mental health treatment revolution with its cutting-edge, non-invasive neurostimulation technology. By focusing on deep brain stimulation, Nexalin's devices, particularly the advanced Gen-3 HALO™ Clarity, offer a groundbreaking alternative to traditional pharmacological treatments. This technology has shown clinically meaningful improvements in treating conditions such as insomnia, PTSD, and traumatic brain injuries - conditions that affect millions but have limited effective treatments - positioning Nexalin as an emerging leader in a market poised for substantial growth, projected to reach $537 billion by 2030.
About LOBO EV Technologies Ltd.
LOBO is an innovative designer, developer, manufacturer and seller of e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles such as golf carts and mobility scooters for the elderly and disabled persons. LOBO also provides automobile information and entertainment software development and design services to customers. Leveraging its cutting-edge technologies in connectivity, multimedia interactive systems and artificial intelligence, LOBO re-defines and develops its products in order to provide users with convenient, affordable and pleasant driving experiences. For more information, visit: https://loboev.io/.
About Nexalin
Nexalin designs and develops innovative neurostimulation products to uniquely help combat the ongoing global mental health epidemic. All of Nexalin's products are believed to be non-invasive and undetectable to the human body and are developed to provide relief to those afflicted with mental health issues. Nexalin utilizes bioelectronic medical technology to treat mental health issues. Nexalin believes its neurostimulation medical devices can penetrate structures deep in the mid-brain that are associated with mental health disorders. Nexalin believes the deeper-penetrating waveform in its next-generation devices will generate enhanced patient response without any adverse side effects. The Nexalin Gen-2 15 milliamp neurostimulation device has been approved in China, Brazil, and Oman. Additional information about the Company is available at: https://nexalin.com/.
About RedChip Companies
RedChip Companies, an Inc. 5000 company, is an international investor relations, media, and research firm focused on microcap and small-cap companies. For 32 years, RedChip has delivered concrete, measurable results for its clients. Our newsletter, Small Stocks, Big Money™, is delivered online weekly to 60,000 investors. RedChip has developed the most comprehensive service platform in the industry for microcap and small-cap companies. These services include the following: a worldwide distribution network for its stock research; retail and institutional roadshows in major U.S. cities; outbound marketing to stock brokers, RIAs, institutions, and family offices; a digital media investor relations platform that has generated millions of unique investor views; investor webinars and group calls; a television show, Small Stocks, Big Money™, which airs weekly on Bloomberg US; TV commercials in local and national markets; corporate and product videos; website design; and traditional investor relation services, which include press release writing, development of investor presentations, quarterly conference call script writing, strategic consulting, capital raising, and more.
To learn more about RedChip's products and services, please visit:
https://www.redchip.com/corporate/investor_relations
"Discovering Tomorrow's Blue Chips Today"™
Follow RedChip on LinkedIn: https://www.linkedin.com/company/redchip/
Follow RedChip on Facebook: https://www.facebook.com/RedChipCompanies
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Follow RedChip on Twitter: https://twitter.com/RedChip
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Follow RedChip on Rumble: https://rumble.com/c/c-3068340
Subscribe to our Mailing List: https://www.redchip.com/newsletter/latest
Contact:
Dave Gentry RedChip Companies Inc. 1-407-644-4256info@redchip.com
--END--
SOURCE: RedChip
View the original press release on accesswire.comWhite Label
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