BTCY - Earnings call 4 2022 | Biotricity, Inc.

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Operator

Good day, and welcome to Biotricity's Fiscal Fourth Quarter 2022 Financial Results Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Valter Pinto, Managing Director at KCSA Strategic Communications. Please go ahead, sir.

Unknown Executive

Good afternoon, everyone, and welcome to the Biotricity Fiscal 2022 Fourth Quarter and Full Year Earnings Conference Call.

fiscal ended Biotricity's XXXX. March reminder, a fourth on quarter XX, As figures will period for that All this reflect presented end date. issued results filed This year on EDGAR. the we our quarter posted fourth morning, and SEC XXXX and financial Form press our and release XX-K with fiscal full . A this and press access is the XX-K website. copy in of the our of available Investor release to Relations section

views remarks, today's that formal our I'd respect current discussion reflect contain beginning remind that like events. Before listeners future statements may forward-looking management's with to to

now to As not and over call such, these Please statements uncertainties to as Al-Siddiq. that are Founder like Biotricity's does Dr. materially to I'd Waqaas forward-looking subject any undertake to go could to CEO, risks cause from any turn actual differ Biotricity except update in the projected those ahead. and obligation forward-looking statements. statements, results required.

Waqaas Al-Siddiq

today. quarter our conference company the Thank solution for company its everyone, and you, for management. our on joining for in year made XXXX XXXX as strategy, cardiac positioning earnings commercialization and becoming diagnostics to disease development well and way year our we fourth all-in-one significant thank Valter, call. to a pivotal full strides Welcome product go-to fiscal was Fiscal our you, and

of In transmission and monitoring from Bioflux, ambulatory fiscal of cardiac was revenue that the majority XXXX, real-time diagnostics. provides our ECG telemetry the derived our high-precision device single-unit patient's mobile

and year-over-year of our with due growth only and but model not revenue are pleased scale. expansion economies are seeing the quarter-over-quarter We to our margin we

profit million $X.XX the in fiscal year increased for for to for from for XXXX. full and $X.X fourth million quarter $X.XX gross XX% XXXX in million Revenue XX% margins fourth XXXX quarter. year the quarter grew year-over-year to fourth the Revenue fiscal from year Furthermore, fourth for quarter. to grew $X.X XX% XXXX the fiscal million fiscal the fiscal XXXX XXX%

challenges, while patients up the who the and model process hook prescribe creates doctor. a more revenue also This an our significant technology streamlined Despite COVID restrictions using can to which stream and with additional short revenue provides XX have and and our today, Bioflux is doctors cardiologists creating we states, recently XXX recurring of for across over period product, doctor providers device. with more growth Our patient X,XXX in a over centers time. for amount as of a of macroeconomic

cases, moderate-to-severe monitoring real-time a remote tool. For is life-saving

patient complete out journey. gaps internal it cardiac However, critical life ecosystem and a we care. their our is cycle the to fills them build Through the that capture set we capabilities, care through cardiac the current of follow innovation in

Biotres products have We part Bioheart. this recently X launched comprehensive of ecosystem, and a new as

Holter launched delivery diagnostic continuously diagnosis longer design This device a conventional data. X-lead a Holter requires of First, after real-time data. provides time. cardiac January to receiving X-lead patient that future revolutionary our FDA FDA-approved remote we Biotres wearable technology April, is Biotres, device. analysis a in XXXX, significant record It over the in a represents as and monitoring which XXX(k) and patch advantage the clearance commercially monitoring wireless monitor, serves ECG

We Biotres new strong are February taking existing began and experiencing and preorders in currently for demand customers. from

long-term monitoring As conditions with directly And state-of-the-art a heart the snapshots true manage launched data by now manner. consumers. this we to in monitor technology Bioheart, patients device continuous to cardiac collection allowing important, available same also offers physicians, heart retrospective a and used

for www.bioheart.com by Bioheart consumers is for purchase available $XXX. currently at

our excited are We roll to ecosystem. out

all for a portal. their the first of within patients, suite time, available cardiologists For products will one have

collection access We as allowing care their our they devices have cardiac journey. a seamless that new customers, way in on adopt full portal, to data purposefully when they ecosystem during designed bring new we the have

to approximately our increased in we $X billion today, market total market With $XX the successfully billion. have X from products addressable

little-to-no have we additional current scalability marketing products our for with designed services and now a can as in to costs clients offer minimal importantly, model More increase business we spend. to

and the provide Biocare, workflow, During care clinic ensuring disease seamless current outstanding platform, enabling the costs. management to second not This look forward those have their the saving introducing at-risk safety patient remote integration platform to reducing leave clinicians monitoring half time of we to virtual remotely, needing our patients and home. XXXX, and to do ensures of clinics' cardiac user-friendly

other seen diabetes model. But a very as Monthly successful space. be roughly with this one care And model we $XX large in no has is billion. market industries cardiac opportunity, the to execute have this such attempted

the are first. We

journey. We beginning this of are at the

the Our combined near newly this will to market enter us portfolio, enable expanded the platform, future. with product upcoming clinic Biocare in

us will provide market. Biotricity's Integrating model, capture Biocare on Biocare and and the revenue a across with our Technology-as-a-Service mortality profitable and Biokit on for the this business leading the a driving focus with opportunity is to company. Biokit of often cardiac revenue creating stream rest of the for ultimately globe. care lives cause for providers capitalized afflicts disease the their patients Cardiac

technology with an The lifestyle throughout and disjointed monitoring cost-effective and cardiac assists diagnostics, current Biotricity's care often their and patient major efficient the issues in management. care comprehensive solve This today cardiac of manner. could approach integrated is care the approach some unintegrated. and to in help journey, beginning

our our call and company goal in management, Ayanoglou. its over John like towards most now world. lifestyle creating made data the cardiac the the with have AI a largest testament The faster By and of capabilities, comprehensive predictive to and last turn I preventative to would better platform for is and cloud analytics innovation. the combining CFO, we becoming patient significant technological monitoring driving progress in year John? to we are the

S. Ayanoglou

Thank you, Waqaas.

increase year. XXXX, company a to $X.X the the revenues totaled million, preceding year March compared the $X.X During of XXX% the million ended XX, fiscal

March $XX.X expect and in we higher Biotricity development device launched XXXX originally of marked $X.XXX. XX-month of MCT period and in devote XXXX, continue mobile, final year sales after a During loss devoted Bioflux limited trailing build receiving of this and the the market marketing research to volumes. The and market commercialization, period, a required ended clearance. the XX, to per sales second million, in its of for significant April as release release full support FDA loss cardiac incurred of and required We the net to device, that's share resources fiscal areas infrastructure telemetry

could To in commence a experience inventory we we sales manufacturing program our market expanded Then technology. at and technology force We key early our adopters potential clients the identifying and leaders who time, manufacturer. or with opinion limited release sales. after space, commercialization, from anchor our in be executed of the KOLs, hired right on captive ordered our FDA-regulated deep device cardiac small

ended gross gross XX, geographic year, our in launched XXXX, XXXX, XX, yielding March increasing a XXXX. $X.X and we for since fiscal footprint, March March million, which states margin force By by have had the XX%. of the a profit margin million sales sales the XX year XX%. compares That totaled U.S. XX, to profit preceding $X.X of year ended fiscal profit for Gross

for ended Total the to previous March XXXX, million fiscal operating XX, compared $XX.X were $XX.X fiscal year expenses the year. million for

million NASDAQ efforts XXXX, and $XX.X incurred by product of our ended fiscal was force, listing expanding as administrative The million sales marked of for prior March XX, during promotion compared and year increased million our milestone expenses to $XX.X of Our to go-to-market marketing cost year. last was for our the the $X.X well spending. fiscal increase to Investor as the year due primarily the August. This Relations general

activity The year XX, the R&D million $X.X fiscal prior we the and of products. research year. for expenses recorded ended During million fiscal development existing new $X.X related March XXXX, and compared to to

enhancement the that of In addition, the pipeline March just with the activity product increased to related during XX, continually that future engineering XXXX. ended year,

in business of remain to fast-expanding commercialize, strategy fiscal $XX ended with fundamental capture a in Biotricity confident and and our cash. marketplace year revenues. its share We grow innovate, million focused

for believe We are strong growth. that We revenue has building business growth. achieve the potential to greater

marketplace We his devices and expect our the comments. I services. you, the closing Thank disrupting turn cardiac subscription Waqaas call like to over Biosphere cloud-based for would to now back to Waqaas. continue with

Waqaas Al-Siddiq

than build further our pipeline and the that already We're with thank for the we cardiac cardiac our who will next ever to technologies. and John, we patient our few over continued that technology have penetrate joined our produce again as monetize touched Thanks, has today. more growth population you call ecosystem years confident everyone

For monitoring our expect them our to and monitor care. ensure advanced will lifetime their solutions, throughout cardiac we are remote protect customers most provided services they sophisticated follow and chronic those technologically with

powerful and gross Doing so to within the increasing margin. a model revenue revenues scale both is business business, recurring a means

on with the that are patients in now We position choices their meaningful cardiac complement innovation, more Through to a comprehensive and upcoming pleased providing in we new with cardiologists are progress and better XXXX. based and individual fiscal made needs. build very a products Bioflux, cloud we

the in company for would like XXXX for We and shareholders. and years open are XXXX our excited what have up questions. for call I fiscal now store to

Operator

[Operator take Frank Instructions] first Capital from Markets. we'll And of Takkinen Lake question our Street

Frank Takkinen

results. on I initiatives, to and sell. new around on hear to exciting to the starting wanted Congrats product start the market those

one-stop and talk those into well and shop work clinic the established about the some care how how to of just little together maybe as going a your accounts? cardiac be Bioheart bit nature So been selling as complementary has to the Biotres X Bioflux can of products

Waqaas Al-Siddiq

Frank. Excellent question,

nature. we've really So talked and complementary the one that about things of previously we about the talked

you right? ends they a Bioflux off get delivery, a patient, they So patient. and the up the really is begins product What usage. interventional if that, patient is care once-in-a-year Once diagnosed monitoring get and that So diagnose diagnostics, our you talk get about everything the some is flagship, cardiac procedure. journey, medication, either happening they in the goes we've real-time

office then or back X the months they're later, a for X follow-up. And into

is diagnostics to at into long-term symptom, disease point, again, they're of some not be management unless sort or So care. that there go they going running

know XX ailments. we maybe that diagnosed Bioflux of from XX X patients been to so with And have these the different

And comes Biotres in. where the so this is

And diagnostic, they're coming back is is their are which Bioheart stable, run and a disease you and are stable, simpler Holter So it's that they really the that if sure about which recorder. feeling can solution, management they a making a comes passive product something, in. and medication managing if and they're

the funnel complementary then the we're the these really of in out months. And In going visits, a office in patient for see but the without that didn't between follow-up maybe those begins for to for touch service X products, because we them. okay, with Bioflux. be is, to technological really, sure solution they'll between, and patients So idea have to not X let's

will we that. So once you even with what diagnostics, with, clinic the lead still Bioflux, we talk with patient subsequent the deploy lead we that products we lead still but have now and about support today, if we do the

Frank Takkinen

to margin speak just Maybe margin helpful. the of into how pieces you're And that inflation gross the in gross Very prices, back as the thinking shifting we've fourth to able with the Could just moving some Great. some in chain input were it ranges over kind the future snapback of you look nice did? to the you around of how impacts and snap way supply A quarter. margin. uncertainties had? other margin you about

Waqaas Al-Siddiq

Great question.

So moving in parts, as so things question kind one layer the asked that constantly that you are up looking because you break noted I'll way at, few we're and the there the of question. of a

And that's like margin and of from to issues, steady-state our high issues chain things supply be XXs, land. things independent long a that. we perspective, term expect where around margin we So see inflation the to that's

to I'll minute. that Now managing in just of course, speak a we're and those,

margins the bit see this and being coming out. see stages, at the products moving new a we we where where we're early Now at little in least stage, around, have recovering margins we

about it's that up about kick there is a when but what previously, that -- I got connectivity. know ends cellular of period you And in happening don't scale Bioflux, I we are me when talk certain talking so if talk of And after heard time. this economies the

individual of cost connectivity infrastructure because all cellular then it available and the there's, more putting pieces. device marginally of My that XX/X course, And is making there X,XXX there's cost that. of of X and for device different having devices just not versus fundamental a

get and of getting hey, out, economies more So and this much we scale, start device. say, as it's per more we we devices can

And that's what's really our so margins. moving

products revenue, or the the the that's becomes But bulk high as down our of In Software-as-a-Service margin. see revenue, right? revenue we commercialize, as technology, the and we get where and service further you service mature,

margin So impact. product launches, have expenses, term, any steady to times be this you'll we any new high time long have XXs. it's going see we hardware But state,

the to about of Now question supply part and inflationary second chain your pressures pressures.

hardware cost small of component. And again, have So we end is very a of a tight very life. understanding

less in the impacting service the XX% is cost revenue impactful is device of inflationary commercialization, is us inflation so revenue, not to us of further down So just a the we're the all if level. simply XX%, because from stream really

if end-of-life hiked. The the and having supply end chips us unavailable up become those we chain side products can impact products. price or then And gets

control So we very we at tight and and on that, triage ERPs with a bond look management. that

understand parts new are and of already we advance. working So which we are life, on in designs well then end

product is now, of its hike we're life that is a path to year replacement part and end know we that, If on from a in already price a working a ensure doesn't occur. critical

Frank Takkinen

Perfect.

one one. last Okay. Maybe just

about growth growth? in fantastic in is a has bit to continued recruit top pursuing out also Maybe just and commercial continuing opportunity on the there's thinking team. you, expansion environment of been important. of stated the focus you increased hiring talk front press a for You Obviously, but release there the are talent how little how profitability

how maybe with profitability term? aspirations growth aspirations you're the medium So over weighing

Waqaas Al-Siddiq

Great question. Yes.

So of other you growth, or go So you them. you share XXX big and to but we in one are That's the reps, grown you the of our with then -- are right? have exit people package know, that really some not I'm space and lay and or market is and off not growth a how the the as ones up hire of you proponent where growing controlled performing some approach. fire standard sales ones come grab way that

And looking is do can our we that bring our when -- mean and enable. on cash at what growth plans, we're do really at by is flows, and we we terms what and to managing at growth. are looking we're in looking how So control to I what of else reps

So a area. big is our is sales reps sales of sales efficiency and another enablement component our channel

optimize grow right, manner when or levers looking we to we're comes on to calculated risks, we but optimizing it and a managing making still these still in So while cash, are can forward that all trying controlled where work see profitability. at while

path profitability. now, months right so And to to a least to a we at want execute we a next the breakeven is, over -- and XX strategy and and path have our plan get to growth

markets say, at a from and then what get situation And go point, this depending the then that to the economic can opportunities make the continue judgment it profitability, -- on call into you're is compelling opportunity because the And we how what is and an to how and we the are the doing you want red, growth. you yes, but is back growth then but and there. perspective,

me have our company, Biotricity goal stick guys you build So to and I $X heard still at before, right? billion and goal management's to a that,

of short-term it to do for pursuit that, so going we're going need optimization in in but you way a to grow, And to sacrifice not long-term that's growth.

a really it's a and approach. So controlled managed approach

Operator

hear the we'll Next, from Allen Group. Maxim with

Allen Klee

being doctors' do this talk the able offices, hospitals buyer? quarter, that's issue this an point? of sense the be COVID doing to you of the to negative get with your -- any to able potential sales that you to you're did Or not impact feel When see in a environment extent, at into

Waqaas Al-Siddiq

question So it's an you bring up. interesting

So there's we've different that seen. dynamics

the So the there year, of it sort like around. -- there but saw something in or was -- flu I was we going of COVID, don't was beginning some think

like, there's the the of want traffic clinic someone sick something individuals and were COVID, but "Oh, But [indiscernible]", this or number coming okay. if in. like that, it is hospital where COVID, general, they is is or was not a to this -- there this is there automatically, gets apprehension cases limit like people so -- was in And this in the the

there. was that still So

I people that And at view freely. in are as we're as In And the the airports, more testing airport. a more was a And lot visas requirements, not normalized, see -- Europe. requirements right delay, requirements as seeing impacting. things that moving sorry, something the the today. became of visa removed what all are that see things U.S., and we not in then think dropped really we COVID are Masks normal I

lot is things. moving a people seen a more we've of there's holidays those around, taken lot what more kinds and being So

if shifts are holiday again, on weeks, they're gone back issue. us has So clinic revenue -- to customer, our will for X for but a these pop really for -- up, in where that gone someone still it's seasonality a revenue

So I holiday. in maybe an haven't in like I the really a to return see pandemic. seen was middle anything is normal, that the of increase What

COVID, sick, -- right this has there's that of you?" less mask kind issue this away, really June Once the like noticed of immediate this that's those now and I months. You in became have the that gone all apprehension, the and as what mandates the in then gets away, anybody was is see now more this And well. "Oh, what is went and an beginning summer

Allen Klee

you XX-K, break sales, at you're least at fees. definitely, buckets. X quarter's have year-over-year. device in growing And your technology In I the Okay. I'm out don't -- revenue looking your

this revenue, that you service this maybe potential that? what related which Could from doing that's about year. have and talk I you're there and $XXX,XXX other what's You think which was consulting, the

Waqaas Al-Siddiq

Yes.

part focusing looking about really other. at and I of as the XXXX strategic of things a one was building So is about partnerships talked us more relationships before on

is to part of U.S.-focused, Of but we've we because have transfer partners our knowledge to stay of our really company has has got very can find focused. stay course, opportunity focused, is now, and we're there don't stay there? to to And and that we with work team -- focused, an internationally course,

those cardiac providing And help so up channel type somebody similar within transfer to where about a monitoring distribution really, and set are knowledge regions. it's solutions they of

continue expansion. come revenue in, look to where and at So that's international we will has that

come and Bioflux that ecosystem with our will consulting to complement technology potentially complementary We that cardiac. could working into in our at continue look the

is develop can you technology work added as know, ecosystem. and and that something So we have patients cardiac complementary conditions disease be our multiple can there modalities, with that into

to sure are do that natural be So we of we our are part actually we there's as flows it's the what have work to just and markets, that going whoever at course, to them. want with to business of look and that's sound ability implement revenue with we we trying has as grow, where And in financially piece. And make started. that other that commercialize

us So that's for new the kind course thing of business. a of natural again, and a

Allen Klee

question may of from it. so to a the more I'm But you ability get -- next you not the trying growth coming somewhat really is like looking, that who My of that to grow answer And were is forward have? with is stabilized sequentially? grasp utilization the doctors number

up -- that at is ramped color? addition that's didn't there in that But of Bioflux chronic maybe revenue better? because then out this you could not maybe good is that the launches potential in like give have just your the and installed then and how it them to to a and the year, Or first to first kind Or a -- year, or April base look that that, and Bioflux reason is of it be already you any maybe reasonable maybe could think as year proxy? comes care us for in if

Waqaas Al-Siddiq

Yes.

forward it So very looking. is

did. I say way if would So about about the you is what Bioflux of think thinking it's what right it,

usage really already higher cost is marketing yes, but because so it different But -- marketing little-to-no in a here big and lower sale revenue little that volume. much and ecosystem, per sunk there's will though that. deploying different each not the we the is even in, have bit costs course, is this or Of product cost like a be

go having solution, to in, there them with new to that ends and them some more bit that job it, a you've nurse so So what then right? comes get with have trained, follow time. this you to hang is teach doctor, you changes nurse is a a piece, can trouble to get got provide adoption in it new of But work maybe every then the spend is or nurses and this but them and you the have up happening to engaged trained, on and she getting he up nurse

the So new to time okay, you every general at there look this you training ecosystem. which great. is naturally related product, time a permeate Once and say, ecosystem, then the that permeating is you shows up

it you this right it's time know well, you takes Bioflux have and Now utilization, the now to exactly get patients, the patient then fits which or like for we that take. identifying takes we a and basically we want months the XXX% well-oiled on [indiscernible] shelf, he get the to right? the she machine Once where use to or you're hooked Because as in it right to which profile like Bioflux up. using is needs X them launch, that essentially patient the knows X it nurse, be and

going So time think products. -- that. to of lot a it And these I with itself rightsize took repeat to is that that each of

So have frame the still that that you will ecosystem. we see time

open product the accounts that be portfolio. there. a it size. no into as we're the simply accounts, still already them a have is leading sales force. going We sales bit longer think showing is I also with up now product. Bioflux, the entire to and network yes, but What's going have certain We're already will X happen little forces faster the because the The we're already selling new we

-- customers, we be customers, will adoption. entire there products portfolio. With new an have and existing introduce new to drive So the selling whereas we're

outset. the So at aware they're of already it

Allen Klee

have what are you from [indiscernible] feedback care, chronic gotten doctors? competitively? about And how thinking you choosing they

Waqaas Al-Siddiq

really cardiac, So looked in at one this and right. that a very forward-looking of is has of the nobody context big the chronic care differences

solutions is that nobody talking in of to us days. our medication conditions we it's not So cardiologists, diagnosis. that's different specific been did, good is stand based. care to we're chronic because because solutions, adherence unique, looking that's terms as care, probably we what and we're tied diagnostics focused, And differentiated. generic, And to and can It's a it other everybody versus because really we've different at still that but marry getting else that. cardiac And apply fixing it very early to and mostly something lifestyle feedback, you is is -- using doing chronic its

Allen Klee

My the if In any $XX it March, have comment issuance money able to guys a sorry, of used ATM that? you announced potential last -- you or Great. March thing. million you had -- question. April, was I'm at Are

Waqaas Al-Siddiq

going We it. used have to world more are not in of sure a something that any -- year-end and put capitalized, being opportunity It into would that. any but a if but [indiscernible] dropped, we have shown touched in is mean backup, well put that I of of have place as up we report. in place bonds make the just not that was our

yes, So not we've that. any -- [indiscernible] but of

Operator

of from hear we'll Wainwright. next, And Kevin Dede H.C.

Kevin Dede

thought sort competitive you're bringing you either. not side market? a and first of off where light. response a I technology understand Allen in in examples piggyback of Holter giving to competitors that going you on us alone the I'd they're see where falling of was Would few specifically I short, the your mind your

you how from the could So you're what differs products seeing combination competitors your maybe explain offer? of your

Waqaas Al-Siddiq

Yes, for sure.

have -- well, and And real-time was don't They Bardy new the product. by because you a talk have they monitor. bought X-channel have right? product talk real-time Holter when So about diagnostics. you Bardy, which is let's that's one, any So Hillrom, don't a Holter about

used platforms you levels. be your because trained you to or automatically, kinds that of a do you monitoring, have different Holter most So X and if risk thing. do, with have X Then patients different a have real-time and whole you're different cardiologist different on you be to nurses hospital and vendors, means which which do you're

X So us, have you that all because right, with away goes company.

disease have care also management. they chronic Now or don't

you that's a that have again, vendor So third use. to now

of collapsed us, all X ecosystem. that X and So in our with we vendor

training, the simplifies simplifies things. that So lot workflow, of simplifies a

IDTF, From model they outsourced a an [indiscernible] technological perspective, provider. are so Bardy's

stuff home, doing to a kind The same you patient $XX how saw monitor, report. will were them Bardy a Bardy to the we doctor, and of with effective bill on a to was. we the So that the get Bioflux you're you're if going read that send and put

thing, there's a problems right? iRhythm there. of is the so same bill, They couple

So the connectivity. have iRhythm doesn't

back, the to to headquarters, get data, download then have get the iRhythm's you So you have it mail to device a you report.

takes it weeks. X So

X So go on study, to going the know what's about let's Biotres a it's XX you're is before right? X from X-week X-day a you're study, if weeks was the on say if days, X patient Because it's a talking right? Or X you X-week on. weeks. we days So versus our connected a days, -- device, turnaround still

download Bardy chip it cut down week. X data you're pull again, and allows a Bardy talking But out. you about because to the

to So but waiting provider -- days you went so perspective, the from that, safety a weeks we week, better. from only X to X X build still data you're center. for enable creates and much patient our is directly Not that a profit

we and we third iRhythm all release well, Bardy P-wave saying And as press is the component because which win, well, Bardy right? have it P-wave. better out duking this and and are is better. where then in like, is about channel -- area third my a The is a fighting is,

Of for floor. against their was conducted study X-channel noise Holter course,

[indiscernible] it to comparing technology. were they So

So don't are against get a I better much they iRhythm head-to-head. if know don't know because I how actually even they

risky their argument X-channel place is position in a back whole all comes But is our well, more anyways, iRhythm because arrhythmias. arrhythmias." more is for a "Well, Bardy product. P-wave better. argument we're put and Then you X-channel says, Biotres, you're is When This the because says, P-wave we better product. catch takes

everything. P-wave the we have and So

fall detection because those short the of the X Bardy we both capabilities both iRhythm have So and arrhythmia arguments device. detection capabilities in

makes clinically us So that superior.

we're us. And time, -- diagnostic to we're iRhythm safety why of a acquisition. response now. patient tried -- then profitability. And superior, with technologically is Hillrom out the superior. profitable a right take struggling We're from and superior. not we was back clinically we're Bardy So in you That's are a then

because because most So is be reason reimbursement, not they're to designed are And use, that's to so $XXX be they're right? profitable X of trying the to -- sensitive they're to these trying And devices on devices. why they're profitable right? reusable on become

Now got our and reusable X a of is product years. lifetime it's a device,

doctor month, let's the profitability it at least. twice it most if doctors once will But look uses. actually a So month. a say month across at once just I which use uses a XX

do how I'll be least, cheaper. At compete very the So you XXx that? with

advantage, whole -- we where ecosystem And have our portfolio. then, right? our that's course, of So and that's

Kevin Dede

detail a mentioned Good bit supply end-of-life mean, I On chain, technology Can and talk development products. Waqaas. Okay. you -- the you about there. little

and made lifespan. how the You to where secure your you product, years over manufacturer to manufacturing you? about to talk morphed or and mentioned delivered it's has going X just how you're Can deliver ensuring that X-year past you've components Bioflux able to have been

Waqaas Al-Siddiq

Right.

end of at. life always thing is that an So we're ongoing looking

So we're chips. upgrading constantly

are Every it's time the And years, has over safety tested and of affect to file sure safety, some a chips you chip. versions additional get out replaced packages changed, make newer [indiscernible] and or swap it Bioflux we and couple through so where we specs that's there letter go are there, we just components we smaller the resistors that we where could make testing. the and it then independently certain

asked answer I what being to and shortage on keeping And think the issues going it, of think -- managed to a have I past there's trying and months which by -- by the I'm okay, inventory at to supply have proactive I than hand is like, call I think really said my to going X we whatnot. And you're that so navigate is chain differently get question at, on. how you're your you going I'm getting is in

inventory inventory our we up, And a to year is we right? and dried growth all again, on inventory fiscal execute which we build if to inventory So announced a single the that But component, entire already triple-digit do right? have plus have based to so already we should that not our have projections, the the plan. is I if on growth, we more today, grow inventory how plan get our hand all answer and my I single we that procurement right, component, buffer, and and XXXX could case, are going and just inventory, not secured.

until growth not impacting plan it's So XXXX. for XX, me, my March

working When on with up. up? this with suppliers, chip the we're their understand detailed in what So inventory free when what now, these open do the We're deep that's very So bag. we're -- in to that? conversations okay, right? after about saying, what manufacturers and components we've does Now got our

like, the shortage we're is when a at? we're your have is on the shortage the a the is And So has example, open where Texas right? in not to November, will the So So problem. which that it's silicon know, okay, a the we up that packaging, they level for where silicon of that ours, actual down but supplier plastic casing, Instruments, plastic, okay? chips,

we're those looking the getting of XXXX. level manufacturing So and their like are to for that. that at understanding down But I'm details and their assembly capabilities

buffer, XX% plan I single growth, I get a produce, if XXXX. to March I XX, that than portfolios for already that perspective, all have a I of can additional for growth a don't device plus the our my product from required is internal So even for triple-digit that component need or our probably single that more all inventory execute of

So I'm our where confident in growth. to our ability execute on that's

Operator

this appears you at additional be Al-Siddiq no there questions turn back closing the any further Mr. over you. will We'll or time. Thank remarks. to conference There for

Waqaas Al-Siddiq

and [indiscernible] day. in hope call. If further get if Please for call have. unanswered, have questions you everyone, I to joining you, that great answers left any were there to have you, the us. able may questions. always to anything that reach was out available. We're you Thank you was please a and any anytime listen Thank the

Operator

And thank participation. for that conference. does conclude your you We today's

You may now disconnect.

Biotricity (BTCY) 14 Jul 222022 Q4 Earnings call transcript