Biotricity reports Q3 EPS (34c) vs. (55c) last year

Reports Q3 revenue $2.97M vs. $2.46M last year. Waqaas Al-Siddiq, Biotricity Founder & CEO, said, “This quarter was marked by record margins, lowered costs and increasing revenues, supporting our path towards positive cashflow. The major theme for us was on long-term building- which meant reshaping our sales force to focus on efficiencies, longer sales cycles, larger accounts and independent hospitals and Group Purchasing Organizations- the necessary steps towards establishing recurring technology subscriptions and long-term growth. We continue to leverage our data intelligently, pushing the boundaries of operational automation and efficiency, and in January of 2024, we announced the development of our Cardiac AI Cloud Platform. This platform is being designed for predictive monitoring, helping physicians and users in detecting potential issues before they arise. This supports our objective for early interventions, which decreases the likelihood of readmissions, and contributes to lowering healthcare costs. Biotricity’s product portfolio is already recognized as one of the most extensive remote cardiac monitoring collections worldwide, and this further reinforces our commitment to advanced healthcare solutions. Our gross margins continue to trend upward, and we have successfully managed expenses, all while penetrating the market and securing market leadership in cardiac remote patient monitoring devices and solutions.”