Biotricity Announces Accelerated Path to EBITDA Positive

Biotricity Inc. (NASDAQ:BTCY), a Technology-as-a-Service (TaaS) company in the remote cardiac monitor sector, has announced an accelerated timeline to achieving EBITDA positive. The company now anticipates reaching this milestone before the end of calendar 2024.

"Our strategic initiatives and technological advancements have put us on a fast track to profitability," said Dr. Waqaas Al-Siddiq, founder and CEO of Biotricity. The company reported a 25.2% increase in revenue in 2023, along with improvements in margins and a reduction in operating expenses.

Biotricity’s scaling capabilities, aided by its Cardiac AI Cloud platform and strategic partnerships, support this accelerated path. Health Canada’s approval for Biocore and partnerships with Group Purchasing Organizations are key to expanding market reach and driving revenue growth.

Targeting a $35 billion market opportunity, Biotricity solutions are used daily by cardiologists across 35 states, maintaining a high retention rate and strong recurring revenue base.