BTCY - Earnings call transcript Q3 2025

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Operator

Greetings and welcome to Biotricity's Fiscal Third Quarter 2025 Results Release Conference Call. [Operator Instructions] As a reminder, this call is being recorded.

It is now my pleasure to introduce Founder and CEO, Dr. Waqaas Al-Siddiq. you. Thank

begin. may You

Waqaas Al-Siddiq

for today. everybody, joining you, us Thank

flows Third Biotricity strategic marked has as been we free initiatives a our quarter quarter for a transformative cash positive by achieving to have continue us quarter the row led second in XXXX that to for path significant profitability. on advancements and

and positive of most significant revenue the aspects all in business, our achievements from been to One of margins, to getting efficiency operational improvement EBITDA. this quarter close the has

to fronts. commitment and efficiency Our strategic innovation, operational remarkable has partnerships make to progress allowed us across multiple

We are capabilities harnessing with our postoperative our AI predictive our Recently, platform. cloud predicting we published continuing capabilities to expand our research explore nature. data in to in Cardiac complications

our our research FDA cardiac next expand by mid AI for file margin AI further Upon expect model improvements. to successful of of year. and cloud, expect clearance our clinical We we

in with organizations recent and the large specialist to off and our care on positions with opportunities This and top market alliances organizations, market multiple beginning that significantly as have GPOs, us purchasing group to helped These gain in currently kick Our partnerships in strategic sector. pilots momentum. technology otherwise cardiology, strengthening expanding neurology are reach. are pulmonology expanding our reach channels our contracts, secure along health larger broader presence capitalize beyond known the

we the growth recently a quarters. place in is has of noted how placed. the Biotricity As our order in procured funding to support inventory ever partners testament about coming release, also have order excited largest we our the in to our are This

to to broader part are where complementary our critical. The is partnerships diagnostics recent strategy develop cardiac more initiatives of access

customers focus to cardiac comorbidities. existing have will a We whose on partners reach have and broad that continue

confident outcomes growth in care for on In summary, are positioned efficiencies continue to driving solutions high-quality delivering our our innovative, cardiac technological We shareholders sustained strategic advancements globally. initiatives, focused operational profitability. improving and value and for patients' Biotricity and have our ability remain and

With Ayanoglou detailed that, insights. call turn to over more provide CFO, John will financial the I our to

S. Ayanoglou

Waqaas. Thank you,

the review audited XXXX. highlights our fiscal third fiscal Let's quarter financial for of

subscription remains recurring driven as our well by devices Technology-as-a-Service the generated robust, from usage-based our FDA-cleared monitor subscriptions as popularity our model of and suite state-of-the-art our Our products. of revenue cardiac BioCore particularly

strong and next-generation the adoption, We connectivity. BioCore demand cellular see features continue particularly Pro, to market which

Atrial medical the a patient broader fibrillation, diagnosis fibrillation, facilitate a for and health intervention. for cost earlier the savings also significant care health atrial primary us. underscores both not individuals opportunity remains of for only This patients care the significant strokes and cardiologists contributor We but improves to focus system. providing outcomes,

the $X.X growth this our strategic quarter a record to third This XXXX, our the of ended revenue testament to quarter. year-over-year initiatives. For million XX.X% increased December and by XX, technology is efficacy of

trials and BioCore sales we turning for our have that high-quality, are clinics products pilots pipeline and to and [ of sales of high-volume continue conducting longer hospitals have us unprecedented are heads a larger an ] cycle, accounts at technologies. that

to business our successful predictable X/X approximately quality stream. and to transitioned establish to a higher subscription in more transition having focus already fee also been We've flat our of our a model, business revenue

comparative Our of quarter prior by XX% from flat revenue grew the fee year-over-year about the year.

was this about quality revenues. again, support revenue. to $X.X flat year-over-year of reflects Once retention and XX.X% by rose that services, fee strong and customer a million XX% record Fees Technology

up $X.X quarter $X.X the in prior totaled prior the million in million million, for Gross XX.X% period, again, profit period. year the from $X.X year

through Fee our from XX.X% tied for increase basis XX.X% expansion Technology to our XXX quarter, AI cost prior the to improvements base, improved the is of proprietary percentage efficiencies the and year. recurring profit gross in in our to structure. gained monitoring up Our points This revenue

become in ordering for process, for which devices our materials producing which us, positive and That means now manufacturing efficient that gross loss been within enjoying margins. are quarter. We've well more have also record margins as makes as leader historically this procuring a also device sales,

business cardiac insourcing direct professionals medical to services, our Our have model enhancing penetration. enabling broader control efficiencies and allows over market

using improvement to of same patient there period $X.X Doctors love are last fiscal is million the million, third in quarter for XXXX that XX% designed. well They were high the as when compliance compared our expenses Operating $X.X the year. devices. a

by commitment strengthen expenses, increased our strategic disciplined Our continue while innovation SG&A the ensures nearly competitive product our cost investment long-term reduction in R&D reflecting our and and we in This XX.X% position to our to market. management investment offerings XX%, enhance a drove growth.

As networks. sales transformed force. GPO and mentioned sales our sales experienced to leveraged longer we on accounts, means earlier, force This including have focus strategically larger effectively and have also cycles more our independent hospitals we that

intend more to beyond, also our of of technology. our hospitals and largest to selling also next partner XX% the provide and in that the than X access to months lever us continue in with to XX networks During mine the relationships we GPO U.S.

infrastructure of attributable loss to rates. per share with the despite X share $X.XX variable quarter growth of million a per to Net $X.XX XXXX, from interest and stockholders or net common million year-over-year in or XX.X% decreased high associated $X.XXX expenses fiscal loss $X.XXX

progress adjusted automation have We've ended XX, breakeven, by to breakeven being of improved EBITDA breakeven. period. we achieve of when use for progress. measures become cost both corresponding as towards of towards to XXXX, prior X-month goal very for to in as more in XX.X%, are well management and improvement efficient, EBITDA considers been streamline our pleased X the company's months the proactive and operating respectively, cash and EBITDA be to flow the December profitability XX.X% ended X the indicators X- our compared periods and AI and operations the EBITDA terms with and Management of

to quarter ended the of a levels in million the from EBITDA for $X XX% XXXX, negative a XX, of uses improvement. available tracking is measure parity level. about the December EBITDA, which prior a of is closest Adjusted management reduction EBITDA fiscal the history cash record period the to been adjusted $XXX,XXX comparative as free ever negative flow Biotricity has A a adjusted in its of reconciliation or EBITDA of our which is numbers breakeven, filing EBITDA in improved year, our This XX-Q.

additional Speaking we profitability, of an as track measure path there's to management. metric

months down statement profitability just that When we we words, expenses, $XX,XXX. free net quarter $XXX,XXX as any measures, flows earlier. earnings was XX, X shows. of activities excludes the X on ended (sic) In XXXX in ] the used other usage cash calculate working [ for negative indicated sheet of accounting assets includes spending remove this operating Our well December XXXX we but noncash cash the from such used as capital $XX,XXX, income, balance expenses, interest our as as company's in other flows. net capital measure or changes of Unlike cash

represents us. measure this immediately Free that creditors is and is cash generated a progress cash This therefore, for to XXX% the preceding or and by that has company pay investors. quarter. the available lenders dividends grew Again, the flow, interest significant to repay

is more margins management, and to being and is increasing allowing focus to For being spend profitable. this positive expense increasing that closer affirmation closer and with us revenues, our efficient line control bottom by our our get on initiatives cash

committed BioCore the products. remain we Biocare ahead, and commercialization Looking advancing to of our

bodies care Our other sets approvals This applications on to Cardiac international countries received the is the We've chronic and is for move intend for also expansion. of globally. up tech launched entire regulatory from initiatives useful truly #X will condition world. us that nicely XXXX. allow future we us in in to recently prepare

of new segments The technology and technology we of sales and confidence market U.S. models our Speaking expand interest increased to partnership products our care and that of the chronic penetration into will our of will reinforces expansion and our disease management business, platform vertical market. and continue broader in our in position. our suite market for provide dedicated in involve prevention to demand business XXXX, growing will including usage

development to innovation positive flow, significant in post-diagnostic another yield on and focus impressive record. to our monitoring remote continues both achieving Importantly, diagnostic products cash and closer us solutions for advancements results, bringing

is please open Operator, about to future stakeholders. deliver the growth confident for our and prepared our line profitability our excited ability and in management remarks. for Waqaas the sustained team And The questions. that concludes,

Operator

our question [Operator Instructions] Wainwright. with And first comes Michael H.C. from Donovan

Michael Donovan

Michael how it sustainable quarters? calling to the remains improvement And believe behalf is to this you in your improvement you positive? taking cash do regard coming what In is in quarter, This steps flow flow on cash are ensure XXX.X% the prior of from Kevin.

Waqaas Al-Siddiq

to expected John we margins and improve Fair from question, have as indicated, well. Michael. indicated and an as our are From technology perspective, as a operational

is, the cash as footprint, and way that maintain where at will we're but we looking commercial [indiscernible] we improving our we we business grow, those have. reinvest see So also the dollars into flows

we're to that but of growth have focused the supports our where ability mean [Audio are now a a business prudent investing commercial profitability, to details, time that going energy we're and and which the after invest very deals, we to larger because So course, on, cusp Gap] of take at the we and how the way but that is maintain we where is business that and have in approach going. to expansion does within today the longer,

also something that able we think bigger maintain we invest being growth maintain go in perspective, our while to opportunities. to more from after is can So commercial it this and strategic the and

Michael Donovan

Okay.

in expansion detail the around XXXX, can bit that? new a add verticals for more Now into you

Waqaas Al-Siddiq

Yes.

are like both to ambulatory and would really monitoring, few use traditional within expansion when of " So they to we implantable people portfolio right? vertical said, right? remote areas, to build your as we cardiac we said, talk types So monitoring back and part about passive systems really smart they well. well these to our in expanded we platform this that "Hey, include -- management." our and have and did they verticals, monitoring. as all started and back ago came when Then in Now are first our for we would us we look again you you out. [Audio cardiologist years to a then wanted complementary of to monitoring, at utilizing And for started we and us "Hey, of like first monitoring came these Gap], areas a We

[Audio and it. those out, John's launching to and we're Gap] that building have been now be built been going we've to So

new haven't been So now fruition. are to when these verticals, we talk that They discussed. coming are about we not already areas

So that now publicly initiatives on. be expanding focusing these are we are will we saying and that

our of we verticals certainly are around looking in morbidities, we're partner at right? areas and that we our So sense So verticals the other more announced these talked right? [Audio The are about strategic Gap], really that who center, but and partners It's or [Audio neurology not we are a those a selling selling selling into is directly Gap] pulmonology cardiac comorbidity center are already there. we're those. into

and So we that partnering into with are selling them channel.

there's cardiology So there's existing complementary then Gap] within [Audio vertical partnership and comorbidities space a based. verticals with are that bearing our relationship and

Michael Donovan

expansion, you first? Now mind international for goals have your do particular XXXX to have in for into geographies expand you

Waqaas Al-Siddiq

Yes.

market is, we it's talk about Gap] is of have a relationships interested country, another our partner where we States, mindful have on the very [Audio right? we in or we're that taking a portfolio a in United focused the internationally laser we If we are that's the we international. they're international where very cross-border expansion, find So active or partner, right? United and they're the is relationship, They very, if and When opportunistic, have opportunity and there. have So already cardiology States.

the we [Audio on and are strategic we where to building have We we and clearances. States, opposed that are executing [Audio Gap] United Gap] or have inquiry in some force. best of sales sort where our inbound relationship, interest in think us offices dollars going opportunistic where have in as ecosystem an and inbound spent those So we

have in in Canada, because Canada [Audio they use we "Hey, announced we clearance, relationships we'd we example, your and this came Health somebody have care health partnerships Gap] for Canada really Canadian. was technology said, Canada [indiscernible] and in to from So like

already there. relationships some So there were

from So international an we're at looking how perspective. that's it

and it had really the and we [indiscernible]. spend [Audio time biggest X focus of If after on United Germany States the markets outside the are U.S., to are Gap] which

else we But those we're when exploring responding are really opportunities, inquiries -- opportunistic in and to anywhere and we about inbound obviously access our really default to clients to international we're So areas. partners, the it's try portfolio.

Operator

like there look remarks. I to Al-Siddiq this it does at not With back And to questions the any that, turn like more would Dr. are floor for time. Waqaas closing

Waqaas Al-Siddiq

and the and what where the landscape, like been would our everybody profit cardiac has Gap]. made to able our a with I really on Thank and the profitability. we're think In you, everybody, of is achieve, we cusp joining nobody has achieve today to able for going. to [Audio nobody call been monitoring excitement leave we've company

are competitive differentiator. that second this in we base a sustainable growth for And is the margins Our space. the and none and to think momentum

We but efficient technology, are positioned with not with the best and can only help solution the that market. change the drive most

that Always and us. time note questions to expect but a as momentum an we any to to have continue. exciting for we think conversations, So guys inquiries this base, this if that the open you want further here is is

grow and as growth we operating profitability. in we cash flows our our year, costs line expect this Gap] [Audio the they Gap] with as maintained are to line well margins expect our and top how be [Audio We stay be to you. and revenue Thank later grow and to way

Operator

this does Thank you this your today's conclude you. teleconference. participation. Thank time, At for

disconnect, You and day. may wonderful have a

Biotricity (BTCY) 20 Feb 252025 Q3 Earnings call transcript