Reports Q1 revenue $3.2M vs. $3M last year. Waqaas Al-Siddiq, Biotricity Founder & CEO, commented, “Our first quarter fiscal 2025 marked a strong start to the year. Despite the seasonally low summer months that can last into September, we saw impressive growth in our hospital sales pipeline, and future technology fees and device sales. We continued to achieve efficiencies from our prudent fiscal management aimed at bolstering our bottom line, and the effective use of our distribution channels. Given our consistently strong gross margins on technology fees of approximately 74% this quarter, and our growing recurring revenue, we anticipate continued improvement in overall blended gross margin over time. Our AI segment is also demonstrating accelerated progress. For the remainder of this calendar year, our focus remains increased sales of our remote cardiac monitoring devices and suite of products and ramp-up of our subscription-based service to continue on our clear path to profitability. EBITDA and Adjusted EBITDA improved by $5.1 million and $5.7 million, or 38% and 46%, respectively when comparing the trailing 12 months to the corresponding prior year trailing 12 month period. This is significant when we consider the EBITDA and adjusted EBITDA measures for the three month period ended June 30, 2024, which improved by 18.9% and 49.8%, respectively. These are indicators of the Company’s progress towards breakeven profitability as well as improvement towards operating cash-flow break-even.”
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