Biotricity Reports Financial Results for Fiscal 2022 Fourth Quarter and Full Year
July 14, 2022 at 08:00 AM EDT
Company Reports Record Revenue and Improved Margins
REDWOOD CITY, CA / ACCESSWIRE / July 14, 2022 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, today announced its financial results for its fiscal 2022 fourth quarter and year ended March 31, 2022.
Dr. Waqaas Al-Siddiq, Founder & CEO of Biotricity, commented, "Fiscal 2022 was a pivotal year for Biotricity as we made significant strides in our product development and commercialization strategy. Despite Covid headwinds, we were able to continue to grow. We are pleased with year-over-year revenue growth of 81% for the fiscal quarter and 126% for the fiscal year ended March 31, and our gross margin expansion during both periods, primarily driven by our lead product, Bioflux. With the launch of Biotres and Bioheart we are excited to roll out our all-in-one go-to ecosystem solution for cardiac diagnostics and disease management. Cardiologists will now have a comprehensive suite of products available for their patients all within one portal."
Q4-FY22 Financial Highlights:
FY22 Financial Highlights:
Operating Highlights for the FY22 to Date:
Dr. Al-Siddiq continued, "Our goal is to consolidate cardiac services within clinics and hospitals into one ecosystem, allowing cardiologists to leverage our cloud-based technology not merely to deliver diagnostics, but also disease management, remote management, and telemedicine, all integrated seamlessly in one place. After a successful second half of calendar 2022 with Biotres and Bioheart, we expect to introduce our secure virtual clinic platform, enabling clinicians to provide cardiac care remotely. This will ensure that at-risk patients and those needing remote cardiac monitoring do not have to leave the safety of their home."
Capital Markets and Corporate Governance Highlights:
Full details of the Company's financial results will be filed with the SEC on Form 10-K by visiting www.sec.gov.
Financial Results Conference Call
For those interested and unable to join the conference call, a replay of the call will be available until July 21, 2022 at 5:30 p.m. ET and can be accessed at by following this LINK.
Important Cautions Regarding Forward-Looking Statements:
Use of Non-GAAP Information
SOURCE: Biotricity, Inc.
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