Biotricity Reports Strong Results With Revenue Growth, Continued Margin Improvement, and Reduced Operating Expenses for Fiscal Year 2024, Accelerating the Company's Path to Profitability
Biotricity Reports Strong Results With Revenue Growth, Continued Margin Improvement, and Reduced Operating Expenses for Fiscal Year 2024, Accelerating the Company's Path to Profitability
- FY24 revenue up 25.2% YOY
- FY24 margins improved 1280 basis points to 69.3%, from 56.5% in the prior year; Q4-FY24 margins improved to 71.5%; margin expansion forecasted to continue
- FY24 operating expenses lower by 17.6% YOY
- Negative EBITDA reduced by $7.2 million - an improvement of 44.6% -- accelerating the Company's path to breakeven and EBITDA positive
- FY24年度營業收入同比增長25.2%
- FY24年度毛利率較上一年度提高了1280個點子,達到69.3%;Q4-FY24毛利率提高到71.5%;毛利率擴張有望繼續
- FY24年度營業費用同比降低17.6%
- 負的調整後EBITDA減少了720萬美元,改善了44.6% -- 使公司加速走向盈虧平衡和EBITDA爲正
REDWOOD CITY, CA / ACCESSWIRE / June 27, 2024 / Biotricity Inc. (NASDAQ: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 fourth quarter and fiscal year ended March 31, 2024.
加州雷德伍德城 / ACCESSWIRE / 2024年6月27日 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity"或"公司")是一家服務於消費者醫療保健的遠程心臟監測領域的技術服務 (TaaS) 公司,今天宣佈其截至2024年3月31日的財務業績。
Dr. Waqaas Al-Siddiq, Biotricity Founder & CEO, said, "Fiscal 2024 has been a year of massive transformation for Biotricity. We have harnessed the power of workflow automation, AI technology, and further technological enhancements to drive substantial improvements in our operational expenses, margins, and revenues. This year, we demonstrated our ability to scale efficiently while maintaining high-quality service, putting us firmly on the path to EBITDA breakeven and profitability.
Biotricity創始人兼首席執行官Dr. Waqaas Al-Siddiq表示: “2024年是Biotricity巨大轉型的一年。我們利用工作流自動化、人工智能技術和其他技術提升,用大量的進步改善了我們的營業費用、毛利率和營業收入。今年,我們展示了我們高效擴展業務的能力,同時保持高品質的服務,將我們牢牢地置於EBITDA盈虧平衡和盈利的道路上。
The expansion of our Cardiac AI Cloud platform, empowered by strategic partnerships with industry giants, showcases our commitment to revolutionizing medical diagnostics and consumer healthcare. Leveraging over 500 billion beats of anonymized data, our AI-driven platform is set to enhance clinic profitability and pave the way for transformative advancements in diagnostic accuracy and patient outcomes. Importantly, we remain on track to pursue FDA clearance for our groundbreaking AI clinical model by the end of 2024.
我們的心臟AI雲平台的擴張,得益於與行業巨頭的戰略合作,展示了我們革新醫療診斷和消費者醫療保健的承諾。憑藉超過5000億次的匿名數據,我們的AI驅動平台旨在提升診所的盈利能力,爲診斷準確性和患者預後的變革性進展鋪平道路。重要的是,我們仍然按計劃推進我們的突破性AI臨床模型的FDA批准工作,預計將於2024年底完成。
Our addition of multiple Group Purchasing Organizations (GPOs) and other strategic alliances during the fourth quarter has positioned us to capitalize on expansive market channels, providing access to approximately 90% of all hospitals in America. These partnerships, which collectively represent 97% of U.S. hospitals, leverage significant negotiating power to secure advantageous terms for medical devices and supplies, strengthening our position as a player in the healthcare technology sector. Moreover, the Health Canada approval for Biocore in February has opened new avenues for revenue growth in the US$1.56 billion Canadian cardiology devices market. These developments mark a significant leap forward in our mission to deliver innovative, accessible, and high-quality cardiac care solutions."
我們在第四季度增加了多個集團採購組織(GPO)和其他戰略聯盟,爲我們提供了利用約佔美國所有醫院90%的廣泛市場渠道的機會。這些合作伙伴共同代表了美國醫院的97%,利用了顯著的談判力量,爲醫療設備和用品爭取有利條款,加強了我們作爲醫療技術領域的參與者的地位。此外,Biocore於2月獲得的加拿大衛生部批准,爲我們進入價值126億加元的加拿大心臟病設備市場提供了新的收入增長途徑。這些發展標誌着我們在實現創新、可訪問和高質量的心臟護理解決方案的使命中邁出了重大一步。”
FY24 Financial Highlights
FY24年度財務亮點
- Revenue increased 25.2% to $12.1 million compared with $9.6 million in FY23
- Gross margin improved 1280 basis points to 69.3% for the fiscal year ended March 31, 2024, as compared to 56.5% in FY23; this was the result of expansion in recurring technology fee revenue base, efficiencies gained in using proprietary AI in operational automation, and improvement in monitoring cost structure
- Net loss decreased 24.5% YOY to $14.9 million, or $1.66 per share, from a net loss of $19.5 million, or $2.26 per share, in FY23
- 收入同比增加了25.2%,達到1210萬美元,而2019財年爲960萬美元
- FY24年度毛利率較FY23年度提高了1280個點子,達到69.3%,這是由於技術服務費用收入基礎的擴張,在操作自動化中使用專有AI帶來的效率提高以及監測成本結構的改善所造成的。
- 淨損失同比減少24.5%至1490萬美元,即每股1.66美元,而FY23的淨損失爲1950萬美元,即每股2.26美元。
Q4-FY24 Financial Highlights
Q4-FY24財務亮點
- Revenue increased 15.9% to $3.2 million compared with $2.7 million in Q4 FY23
- Gross margin improved 1550 basis points to 71.5% for the three months ended March 31, 2024, as compared to 56% in the corresponding prior year quarter
- Net loss decreased 36% YOY to $4.4 million, or $0.47 per share, from a net loss of $4.9 million, or $0.56 per share, in Q4-FY23
- 收入同比增長15.9%至320萬美元,而2019財年爲270萬美元
- Q4-FY24毛利率較去年同期提高1550個點子,達到71.5%。
- 淨虧損同比減少36%至440萬美元,即每股0.47美元,而Q4 FY23的淨虧損爲490萬美元,即每股0.56美元。
Operating Highlights for FY24
FY24運營亮點
- FY24 recurring (TaaS) Technology Fees rose a robust 28% YOY to $11.25 million, representing over 14 times Device Sales revenue
- Company maintained its track record of strong customer retention that is supported by the quality of customer and cardiologist-friendly support services that emphasize accuracy of diagnostics and ease-of-use
- Developed a range of state-of-the-art products to service a total addressable market of $35 billion
- Expansion of geographic footprint to 35 states, with thousands of cardiologists over hundreds of centers
- Secured strategic alliances with three of the top GPOs representing 90% of all hospitals in the US
- Continued trend toward positive cash flow by growing subscription-based revenues, improving margins, and leveraging automation and experience to increase efficiencies of SG&A
- FY24年度的技術服務費用(TaaS)同比增長了28%,達到1125萬美元,相當於設備銷售收入的14倍以上
- 公司保持了良好的客戶保留記錄,得益於重視診斷準確性和易用性的高品質客戶和心臟科醫生支持服務
- 開發了一系列最先進的產品,服務於價值350億美元的總尋址市場。
- 在數百個中心之上擁有數千名心臟病醫生的地理足跡擴展至35個州
- 與代表所有醫院90%的三家最頂級GPO建立了戰略聯盟
- 通過增長定期收入,提高利潤,利用自動化和經驗提高SG&A效率,持續向正向現金流趨勢發展
Full details of the Company's financial results will be filed with the SEC on Form 10-K and available by visiting www.sec.gov.
公司財務結果的全部細節將以10-K表格形式提交給證監會,可通過訪問www.sec.gov獲得
Financial Results and Business Update Conference Call
財務結果和業務更新電話會議
Management will host a conference call on Thursday, June 27, 2024 at 4:30 p.m. ET to discuss its financial results for fiscal year 2024 and provide a business update. Additional details are available under the Investor Relations section of the Company's website:
管理層將於2024年6月27日星期四下午4:30主持電話會議,討論公司2024財年的財務狀況並提供業務更新。更多詳情可在公司網站的投資者關係部分查閱:
Event: Biotricity Fourth Quarter and FY 2024 Financial Results and Business Update Call
Date: Thursday, June 27, 2024
Time: 4:30pm ET (1:30pm PT)
Toll Free: 1-877-269-7751
International: 1-201-389-0908
Webcast URL:
事件:Biotricity第四季度和2024財年財務業績及業務更新電話會議
日期:2024年6月27日星期四
時間:美國東部時間下午4:30(太平洋時間下午1:30)
免費電話:1-877-269-7751
國際電話:1-201-389-0908
網絡直播鏈接:
Investors can begin accessing the webcast 15 minutes before the call, where an operator will register your name and organization. The call will be in listen-only mode.
投資者可以在會議開始前15分鐘開始訪問網絡研討會,在那裏,操作員將註冊您的姓名和組織。該電話將處於僅聽模式。
A replay of the call will be available approximately three hours after the live call via the Investors section of the Biotricity website at
可在會議後約三小時通過Biotricity網站的投資者部分獲取重播。
Toll Free Replay Number: 1-844-512-2921
International: 1-412-317-6671
Replay Access ID: 13747508
Expiration: July 11, 2024, 11:59 PM ET
免費重播電話:1-844-512-2921
國際重播電話:1-412-317-6671
重播訪問ID:13747508
截止日期:2024年7月11日晚上11:59(美國東部時間)
About Biotricity Inc.
關於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 .
Biotricity通過彌合遠程監控和慢性疾病管理方面的差距來改革醫療保健市場。醫生和患者信任Biotricity在預防和個人護理方面的卓越標準,包括慢性病的診斷和後診斷解決方案。該公司爲醫療和消費市場開發全面的遠程健康監測解決方案。了解更多信息,請訪問。
Important Cautions Regarding Forward-Looking Statements
關於前瞻性聲明的重要注意事項
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. 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.
本新聞稿中未描述歷史事實的任何表述可能構成前瞻性聲明。前瞻性聲明涉及假設並描述我們的未來計劃、策略和期望,通常可以通過使用諸如“可能”、“應該”、“將”、“可能”、“安排”、“期望”、“預期”、“估計”、“相信”、“有意”、“尋求”、“項目”、“目標”等詞語或這些詞語的否定式或這些詞語的其他變異形式或類似術語來識別。前瞻性聲明可能包括但不限於關於(i)管理層對未來經營的計劃、目標和目標,包括關於設計、開發和商業化Bioflux或公司其他擬議產品或服務的計劃、目標或目標,(ii)收入(包括收益/虧損)、每股收益(包括收益/虧損)、資本支出、股息、資本結構或其他財務項的投影,(iii)公司未來的財務表現,(iv)公司經營或擬經營的監管體系以及(v)前述(i)、(ii)、(iii)或(iv)中任何聲明的基礎或相關假設。這些前瞻性聲明不旨在預測或保證實際結果、績效、事件或情況,並可能無法實現,因爲它們基於公司當前的投射、計劃、目標、信念、期望、估計和假設,並且受到一些風險、不確定性和其他影響的影響,其中許多因素公司無法控制。實際結果和某些事件和情況的時間可能因這些風險和不確定性而與前瞻性聲明所描述的有所不同。可能影響或促成前瞻性聲明不準確或導致實際結果與預期或期望結果不同的因素包括但不限於公司無法獲得額外的融資,開發其產品和相關不足的現金流,導致流動性不足,公司無法擴大業務,醫療設備和醫療保健行業的重要政府監管,缺乏產品多樣性,現有或增加的競爭,仲裁和訴訟結果、股票波動和流動性,以及公司未能實施公司的業務計劃或策略。這些和其他因素在公司提交的SEC文件中有更詳細的描述。公司不承擔更新任何前瞻性聲明的義務,以反映此發佈日期後可能發生的任何事件或情況。
Contacts
聯繫方式
Investor Relations
Biotricity Investor Relations
Investors@biotricity.com
投資者關係
Biotricity投資者關係
Investors@biotricity.com
SOURCE: Biotricity, Inc.
來源:Biotricity,Inc。