Company Overview: Biotricity Inc.

Business Focus

• Industry: Medical technology, specifically biometric data monitoring solutions.
• Core Objective: Deliver remote monitoring solutions for diagnostic and post-diagnostic markets targeting lifestyle and chronic illnesses.
• Market Approach: Focus on existing reimbursement models to reduce risk and accelerate revenue.

Key Technologies & Products

• Bioflux®: FDA-cleared mobile cardiac outpatient monitoring (COM) device launched in 2018, with full commercialization starting in April 2019.
• Bioheart: Consumer-grade, continuous heart monitor launched in 2021, recognized as one of TIME’s Best Inventions of 2022.
• Biocore® (formerly Biotres): Three-lead ECG device for lower-risk patients, launched in 2022; cellular version (Biocore Pro) launched in late 2024, now the company’s flagship.
• Biocare: Cardiac disease management solution launched in October 2022, supporting holistic remote chronic care.
• Biokit: A remote patient monitoring kit combining blood pressure cuff, pulse oximeter, and thermometer for patients with multiple conditions.
• Other Technologies: Development of ECG analysis software, next-generation Biocore Pro 2.0, and other ancillary devices supporting broader remote monitoring.

Market & Market Strategy

• Initial Focus: Ambulatory diagnostic cardiac market, including hospitals, clinics, physicians’ offices, and IDTFs.

• Market Size & Opportunity:

  • US Cardiologist offices: ~34,000
  • Hospitals with cardiology specialization: ~780
  • IDTFs providing cardiac monitoring: ~300
  • Total addressable market for cardiac diagnostics and chronic care management expanding into broader remote and lifestyle health markets.
  • Global ECG equipment market projected to grow at 6.5% CAGR to $2.01 billion in US by 2030.
  • Remote monitoring and chronic care markets are projected to reach $96.67 billion by 2030 and $8.7 billion by 2027 respectively.

• Business Model: Utilizes an insourcing, recurring revenue model through technology service fees.

• Sales Expansion: Efforts across 31 states, aiming for broader U.S. market penetration.

Customer & Revenue Data

• Number of Shares Outstanding: 26,567,769 (as of July 15, 2025, not including 160,672 exchangeable shares).
• Customers: Specific number not provided, but sales expanding across multiple states and large healthcare facilities.
• Revenue for Fiscal Year Ended March 31, 2025: Approximately $13.8 million, a 14.3% increase from the previous year.
• Revenue for the Quarter Ended March 31, 2025: Approximately $3.7 million, a 16.5% increase from the same quarter last year.
• Revenue Composition:
  • Technology fees: ~$12.6 million (2025), ~$11.2 million (2024).
  • Device sales: ~$1.2 million (2025), ~$814,000 (2024).

Financial Highlights

• Net Loss (2025): ~$11.94 million (loss per share of $0.555).
• Net Loss (2024): ~$14.93 million (loss per share of $1.66).
• Accumulated Deficit (as of March 31, 2025): ~$139 million.
• Cash & Cash Equivalents: Approximately $365,000 as of March 31, 2025.
• Operating Loss (2025): $2.45 million (improved from $8.83 million in 2024).
• Gross Margin (2025): Approximately 76.6% overall; device margin around 79.8%, and device & software combination margins are improving.

Employees

• Total Employees: 46 full-time employees and approximately 20 consultants.
• Locations: Based in Redwood City, California, and Toronto, Canada.
• Future Hiring Plans: Intends to hire 10-15 additional employees within 12 months to support growth.

Summary

Biotricity Inc. develops advanced biometric devices and software for remote cardiac monitoring, including FDA-approved wearables and consumer health solutions. Its technology ecosystem supports diagnostic testing, chronic disease management, and future expansion into related health markets. The company is expanding its sales footprint, improving gross margins, and developing new products to serve hospitals, clinics, physicians, and consumers, while managing ongoing losses and funding needs.