Biotricity Reports Continued Margin Improvement and Reduced Losses in Q1 FY 2025

Biotricity Inc. announced significant financial results for the first quarter of fiscal year 2025. The company showed substantial progress towards cash-flow break-even and profitability, driven by strong performance in its recurring technology fee revenue, which constitutes over 94% of total revenue with a 76% gross margin. The gross margins improved significantly to 73.8% from 63.5% in the same period last year.

Operating loss was reduced to $1.1 million, indicating efficiency gains of $1.2 million. Revenue grew by 6% year-over-year to $3.2 million. EBITDA and Adjusted EBITDA saw improvements of 18.9% and 49.8% respectively. Comprehensive loss was reported at $6.9 million due to one-time non-cash items, reducing the net loss to $3.7 million if excluded.

Dr. Waqaas Al-Siddiq, Founder & CEO, highlighted the company's focus on increasing sales of remote cardiac monitoring devices and subscription-based services. He emphasized the company's consistently strong gross margins and growth in recurring revenue as indicators of future profitability.