Biotricity reports Q1 revenue grew over 40% y-o-y

Biotricity reported a strong start to its Fiscal Year 2024 ending March 31, 2024 and provided a preliminary estimate of its revenue for its first quarter of fiscal year 2024. For the first fiscal quarter ended June 30, 2023, the Company expects to report an approximate increase in revenue which represents growth of over 40% YOY from the corresponding prior year quarter and expects to achieve continued reduction in expenses. Dr. Waqaas Al-Siddiq, Biotricity Founder & CEO, commented, “Based on robust first quarter revenue growth and our early read on the quarter’s sales and operating metric trends – including customer retention — I am fully confident our business will continue to scale as planned and show strong growth throughout fiscal year 2024. Our products and biosphere platform model, and vertical sales strategy of complementary products, continues to strengthen. Since launching our Biocare app in January of this year, we have had over 10,000 downloads. Our second product — Biotres- is rapidly gaining traction industrywide with new and existing customer purchases exceeding our internal forecast. It will set a company record for the time to reach its $2 million run rate.”