Biotricity sees Q1 as ‘best-quarter yet’

Biotricity reportd that its business continues to demonstrate strong fundamentals that are propelling the Company towards profitability. Biotricity anticipates announcing its best-quarter yet, for the first fiscal quarter ended June 30, 2023. For the First Quarter Fiscal 2024, these key fundamentals showed continued improvement: Growth in top-line revenue, with an increase in technology fees that are recurring; Reductions in operating expenses, including selling and technology expenses through automation and AI; Stable but improving gross profit margins that are expected to improve due to increasing technology fee revenues as a percent of sales. Additionally, management is focussed on monitoring adjusted EBITDA, adjusted to remove non-cash expenditures to monitor its progress towards achieving positive net operating cash flows, since this metric is a good indicator of operating cash flows not impacted by interest, share-based compensation and other non-cash expenditures.This metric emphasizes the inherent strength of the business fundamentals, allowing a clearer understanding of the Company’s financial health.