Biotricity Reports Ongoing Margin Improvement Through Enhanced AI Cloud Platform

REDWOOD CITY, CA / ACCESSWIRE / July 22, 2024 / Biotricity Inc. (Nasdaq:BTCY), operating in the remote cardiac monitor sector, has announced continued enhancements in operational efficiency and margin performance through its proprietary AI Cloud platform.

The latest upgrade of Biotricity's AI Cloud has increased tech stack efficiency by 20%, translating to an expected topline margin rise of 200 to 300 basis points (2 to 3%). A further upgrade aims to enhance efficiencies by another 20%, adding an additional margin increase of 100 to 200 basis points (1 to 2%).

Dr. Waqaas Al-Siddiq, CEO of Biotricity, emphasized the company's progress, stating that the AI Cloud upgrades are pivotal in improving operational margins and supporting scalability. Biotricity leverages over 500 billion beats of anonymized data for predictive cardiac AI models, aiming to improve diagnoses and interventions.

Targeting a $35 billion market opportunity, Biotricity's solutions are actively used by cardiologists nationwide, with a high retention rate and recurring revenue base. These improvements are expected to accelerate Biotricity's path to breakeven and positive cash flow.