REDWOOD CITY, Calif., Nov 21, 2022 (ACCESSWIRE) — Biotricity Inc. (NASDAQ:BTCY) (“Biotricity” or the “Company”), a medical diagnostic and consumer healthcare technology company, today announced it has surpassed $10 million in annual revenue run rate.
“With strong revenue growth each quarter, our scale and market reach increases every day,” says Biotricity Founder and CEO, Dr. Waqaas Al-Siddiq. “I am committed to continuing to drive growth and realize our potential. Our focus remains on providing the cardiac health market with disruptive, superior digital and AI technology at competitive pricing with unrivaled support to our customers and physician partnerships.”
Biotricity boasts multiple ground-breaking products including Bioflux®, Biotres, and Bioheart which won TIME’s Best Inventions of 2022.
- Bioflux: a high-precision, single-unit mobile cardiac telemetry (MCT) device that provides real-time monitoring and transmission of your ECG information to your doctor
- Biotres: an easy to wear, rechargeable device with wireless capability, utilizing the advanced technology of the Bioflux® for more active days
- Bioheart: a consumer-targeted continuous heart rhythm monitor that uses the most advanced heart technology to deliver unlimited heart data insights with three views of your heart
The record revenue run rate is Biotricity’s latest achievement in a string of major milestones that include:
- The Company’s Bioheart personal cardiac monitor won TIME’s Best Inventions of 2022
- Awarded $250K NIH grant from the National Heart, Blood, and Lung Institute for AI-enabled real-time monitoring and predictive analytics for stroke due to chronic kidney failure
- Surpassed 2 billion recorded and analyzed heartbeats for atrial fibrillation (A-fib)
- Company has delivered revenue growth in nine out of the last ten consecutive quarters
About 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 www.biotricity.com.
Important Cautions Regarding Forward-Looking Statements
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. There cannot be any assurance that the Company will ever become profitable. During the three months ended June 30, 2020 the Company incurred a net loss attributable to common stockholders of $3.4 million. 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.
Contacts:
Investor relations:
KCSA Strategic Communications
Valter Pinto or Jack Perkins
(212) 896-1254
Investors@biotricity.com
