Biotricity Inc
NASDAQ:BTCY
Biotricity Inc
Biotricity, Inc. is a medical technology company, which is focused on biometric data monitoring solutions. The company is headquartered in Redwood City, California and currently employs 44 full-time employees. The company went IPO on 2015-10-26. The firm developed its Bioflux MCT technology, comprised of a monitoring device and an ECG reporting software component. The Bioflux device is comprised of a wet electrode and worn on a belt clip around the waist. The Bioflux ECG reporting software enables doctors and labs to view a patient’s electrocardiogram (ECG) data for monitoring and diagnostic purposes. Both the device and software are in accordance with mobile cardiac telemetry (MCT) billing code standards, compliant with arrhythmia devices and alarms, and require 510000 clearance, which has been obtained. The Bioflux device has been developed, among other things, with global system for mobile communications (GSM) mobile chip for global cellular network compatibility; touch-screen liquid crystal display (LCD) viewer; and extended battery pack for an additional approximately 48 hours of battery life.
Biotricity, Inc. is a medical technology company, which is focused on biometric data monitoring solutions. The company is headquartered in Redwood City, California and currently employs 44 full-time employees. The company went IPO on 2015-10-26. The firm developed its Bioflux MCT technology, comprised of a monitoring device and an ECG reporting software component. The Bioflux device is comprised of a wet electrode and worn on a belt clip around the waist. The Bioflux ECG reporting software enables doctors and labs to view a patient’s electrocardiogram (ECG) data for monitoring and diagnostic purposes. Both the device and software are in accordance with mobile cardiac telemetry (MCT) billing code standards, compliant with arrhythmia devices and alarms, and require 510000 clearance, which has been obtained. The Bioflux device has been developed, among other things, with global system for mobile communications (GSM) mobile chip for global cellular network compatibility; touch-screen liquid crystal display (LCD) viewer; and extended battery pack for an additional approximately 48 hours of battery life.
Revenue Growth: Biotricity delivered $3.9 million in revenue, up 19% from the prior year period, driven by strong adoption of its cardiac monitoring devices.
Margin Expansion: Gross margin improved significantly to 81.9%, up 660 basis points from last year, reflecting efficiencies and a shift to recurring technology fees.
Profitability Progress: The company achieved positive EBITDA for the second consecutive quarter ($373,000), and management reiterated they are nearing full profitability.
Cost Control: Operating expenses rose modestly by 5.1% year-over-year, while SG&A and R&D were tightly managed.
Strategic Focus: Biotricity is expanding its commercial team and partnerships, investing profits to drive revenue and market share growth.
Product Pipeline: Continued innovation with Biocore Pro 2 and upcoming FDA filings are expected to support future growth.
