Biotricity Inc. reported a significant improvement in its financial performance for the three months ended June 30, 2025, with revenues reaching $3.87 million, a 21% increase from $3.20 million in the same period last year. The company achieved a gross profit of $3.12 million, resulting in a gross margin of 80.5%, up from 73.8% in the prior year. This increase in gross margin was attributed to improved efficiencies in technology fee revenue and device sales. Operating expenses decreased to $2.83 million from $3.48 million, primarily due to a reduction in selling, general, and administrative expenses, which fell by 28% to $2.14 million.
The company reported a profit from operations of $281,945, marking the first time in its history that it achieved positive operating profit before accounting for interest and other costs. However, Biotricity still recorded a net loss attributable to common stockholders of $754,293, a significant reduction from a loss of $6.95 million in the previous year. This improvement reflects the company's ongoing efforts to control costs while increasing revenue through its technology fee and device sales.
In terms of operational developments, Biotricity has expanded its sales activities to 31 U.S. states and has focused on enhancing its product offerings, including the Bioflux and Biocore devices. The company has also launched the Biocare app, which aims to improve patient management and chronic care solutions. As of June 30, 2025, Biotricity reported a total of 26,728,441 common shares outstanding, an increase from 26,241,967 shares at the end of the previous quarter, indicating ongoing shareholder engagement and potential for future capital raises.
The company continues to face challenges, including a working capital deficit of $16.66 million and an accumulated deficit of $140.20 million as of June 30, 2025. Management has expressed concerns about its ability to continue as a going concern without securing additional funding. To address this, Biotricity plans to pursue further equity and debt financing, as well as collaborations to support its operational needs and product development initiatives. The outlook remains cautiously optimistic, with management anticipating continued revenue growth and improvements in liquidity through strategic business development efforts.
About BIOTRICITY INC.
Biotricity Inc. develops FDA-cleared remote biometric monitoring solutions focused on cardiac diagnostics and chronic disease management. Its core products include the Bioflux and Biocore Pro ECG devices and the Bioheart continuous heart monitor, serving physicians, hospitals, and diagnostic testing facilities primarily in the U.S. The company’s insourced, technology-as-a-service model integrates hardware, software, and AI-driven analytics to enhance patient care, improve diagnostic accuracy, and enable cost-effective chronic cardiac care.
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