Biotricity Inc. reported a net loss of $3.13 million for the fiscal year ending March 31, 2026, a significant reduction from the $11.94 million loss recorded in the previous year. The company generated revenue of $16 million, marking a 16% increase from $13.79 million in the prior fiscal year. This growth was attributed to an increase in technology fee income, which rose to $14.44 million, compared to $12.59 million the previous year. The gross profit margin improved to 81% from 76.6%, driven by a higher proportion of technology sales, which typically yield better margins than device sales.
In terms of operational efficiency, Biotricity has made strides in reducing its selling, general, and administrative expenses, which fell to $8.49 million from $10.86 million year-over-year. Research and development expenses increased to $2.76 million from $2.16 million, reflecting ongoing investments in product development. The company has expanded its sales efforts to 35 states and is actively pursuing additional regulatory approvals to enhance its product offerings, including the Biocore Pro, a cellular version of its cardiac monitoring device.
Biotricity's strategic focus on remote patient monitoring and chronic disease management has led to the successful launch of several products, including the Biocare app and the Biocore device, which have been well-received in the market. The company has also secured a National Institutes of Health (NIH) grant to support its AI-enabled monitoring initiatives, further solidifying its position in the healthcare technology sector. As of March 31, 2026, Biotricity had 46 full-time employees and plans to hire an additional 10 to 15 employees to support its growth.
Looking ahead, Biotricity aims to continue its trajectory toward profitability by expanding its product lines and enhancing its market presence. The company acknowledges the need for additional capital to support its operations and growth initiatives, with plans to explore various financing options. Despite the challenges, management remains optimistic about the future, citing a strong demand for its innovative cardiac monitoring solutions and the potential for increased revenue as it scales its operations.
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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