Current Footprint - Bioflux®
Portfolio of complementary technologies:
- Biotres ® - FDA cleared
- Bioheart ® - consumer product currently in initial production
- Biocare® App – about to go through field testing
- Bioflux® 2 – in alpha prototyping
Large Scale production in place.
Medicare Reimbursement in place.
Cardiologists across 29 states use the Bioflux daily.
Currently have over 500 centers across 29 states: focused on expanding salesforce to expand footprint.
Our sales force is comprised of seasoned professionals, each with a proven track record of introducing disruptive cardiovascular technologies to the marketplace.
Use a proprietary data tool to identify target markets within the US, based on CMS reimbursement data.
More Key Details From The Company Presentation.
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And as I mentioned above, BTCY has 5 potential catalysts that could provide it with a breakout spark. Here they are:
No. 1 BTCY Potential Catalyst - Zacks Small-Cap Research Provides $7.50 Price Target
In the 2nd half of 2022, BTCY was tagged with a strong target from Zacks Small-Cap Research that is providing this profile with over 1,000% potential upside from Monday's closing valuation.
Here's some key details from the report:
Valuation
We are optimistic about the outlook for BTCY’s technology and ecosystem as the company expands both distribution and its product and service offerings. At this early stage in its development, it is difficult to compare BTCY to other companies on traditional valuation metrics such as P/E or EV/ EBITDA, in our view. We therefore value BTCY shares using a peer comparables valuation methodology based on EV/Sales.
We appreciate the company’s runway and addressable market for additional penetration of its network for Bioflux, the Biotres launch contribution and the recurring revenues stream and shift in the sales mix towards higher margin TaaS over time. We therefore think the current share price level does not reflect the fundamental value of the company’s prospects. As the company continues to advance its strategy, we would anticipate multiple and share price expansion. We believe accelerating revenue ramp as both Bioflux and Biotres gain traction could be catalysts.
Although the revenue arc for BTCY is somewhat unclear at this stage because of many variables, including whether the pandemic has a lingering impact and global logistics challenges, we believe it reasonable to project that BTCY can attain revenue in the $40-$45Mn range by FY25-FY26. We reach $7.50 valuation per share based on peer group median of 9.0x EV/sales applied to this anticipated range, which includes a ramp-up in contribution from Biotres, Bioflux and other offerings in development.
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No. 2 BTCY Potential Catalyst - These Nine 2022 Achievements Has The Company Higher-ups Jacked For 2023 And Beyond
Medical Biometric Firm Biotricity Reshaping Market Through Pioneering Innovation
Highlights Several Major Operating Milestones Since FY22
REDWOOD CITY, CA / ACCESSWIRE / March 7, 2023 / Biotricity, Inc. (Nasdaq:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, has not only been establishing a significant market footprint through its robust revenue growth but also reshaping its marketplace through continuous pioneering innovation. Today, Biotricity highlighted several of its major operating achievements since fiscal year 2022.
These achievements include:
- Being honored by TIME magazine: Biotricity's Bioheart device named to TIME's list of the Best Inventions of 2022. Bioheart is the first of its kind - a continuous heart rhythm monitor using advanced technology to deliver unlimited heart data insights. Bioheart's uninterrupted monitoring keeps you informed about your heart 24/7.
- Being recognized on Fast Company's list of the World's 50 Most Innovative Companies in 2022, and ranked No. 1 in the Top 10 Most Innovative Medical Device Companies.
- Launch of Biocare™ Cardiac Disease Management Solution: designed to expand Biotricity's existing remote monitoring tools used today by more than 2,000 cardiologists nationwide, the easy-to-use solution puts actionable data at the physicians' fingertips to assist them in making treatment decisions quickly.
- Releasing a personal version of Biocare Cardiac, a cardiac health application for individuals diagnosed with, or at risk for, cardiovascular disease for personal disease management.
- Winning an NIH Grant from the National Heart, Blood, and Lung Institute for AI-enabled real-time monitoring and predictive analytics for stroke due to chronic kidney failure. This grant is supporting development of Biotricity's Bioflux-AI - an innovative AI-driven system with real-time monitoring and prediction capabilities to be used to investigate stroke episodes in chronic kidney disease patients.
- Receiving 510(k) Clearance for Biotres and launching the wireless wearable holter patch device, Biotres™ ‒ a revolutionary holter technology that represents the future of remote patient monitoring.
- Unveiling Biokit, a personal medical device kit for integration into the Biotricity ecosystem.
- Expanding its network to 300+ centers across 30+ states with 2,000+ physicians.
- Realizing a significant milestone of recording and analyzing over 2 billion heartbeats for atrial fibrillation (AFib), the most common type of cardiac arrhythmia and a leading cause of stroke. Bioflux®, Biotricity's high-precision, single-unit mobile cardiac telemetry device that provides real-time monitoring and transmission of the patient's ECG information, has captured billions of heartbeats to date.
"We're deeply proud of these accomplishments because they result from the hard work of an exceptional team, innovative products and technology, and a corporate mission aligned well with the needs of a surging marketplace," said Biotricity Founder and CEO Dr. Waqaas Al-Siddiq. "Because we've achieved so much thus far, we're optimistic that we can achieve so much more in the years ahead."
Market analysis company Market Research Future valued the healthcare biometric market at $26.9Bn in 2021 and has projected it to achieve a value of $78.4Bn by 2030 - expanding at a 22.3% compound annual growth rate.
Read the full article here.
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No. 3 BTCY Potential Catalyst - Revenue Growth Signals A Company On The Rise (98% Customer Retention Rate)
Biotricity Reports Fi-nan-cial Results for Fiscal 2023 Third Quarter
- Revenue Up 27.4% YOY
- Enviable 98% Customer Retention Rate Drives Subscription Recurring Rev Growth
- Two Major Distribution Agreements Implemented
- Net Loss Narrowed by One Third as Company Targets Positive Cash Flow
REDWOOD CITY, CA / ACCESSWIRE / February 14, 2023 / Biotricity Inc.(Nasdaq:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, today announced its fi-nan-cial results and provided a business update for its third quarter of fiscal 2023 ended December 31, 2022.
Commenting, Dr. Waqaas Al-Siddiq, Biotricity Founder & CEO, said, "With our suite of state-of-the-art remote cardiac solutions now well established, Biotricity is focused on sales, marketing and achieving positive cash flow.
In just the past three months, we have successfully signed agreements with two leading US medical device distributors and one Group Purchasing Organization (GPO) as major components of our go-to market strategy and growing marketplace prominence. In total, just in the US alone, they cover over $20Bn in annual purchasing. We are actively considering adding similar distributors with geographic or vertical coverage that complement our existing networks.
Technologically, we are increasingly leaning into AI with its data and predictive capability to target more pervasive forms of patient monitoring and lifestyle management. Our enviable 98 percent customer retention rate succinctly reflects our strong competitive position. It also ensures our customers' lifetime value is high and drives our growing ‘technology-as-a-service' base of recurring revenue.
Fi-nan-cially, we reported strong sales revenue growth of 27.4 percent year-over-year, and a gross margin of 57 percent as our business scales, while narrowing the net loss by one third. In calendar year 2023, we plan to trim R&D and capex while continuing to innovate products and services centered around our cloud-based Biosphere cardiac ecosystem -- to reduce the overall price of unrivaled cardiac care while positively transforming the efficacy of its delivery and outcomes.
Looking ahead, we are focused on increasing market penetration through additional distribution agreements, highly targeted advertising, industry conference and tradeshow participation, and building our sales and marketing team one carefully selected professional at a time, all while managing cash flow to accelerate our path to pro-fit-ability."
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Read the full article here.
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No. 4 BTCY Potential Catalyst - 2023 Sales Could Grow Significantly With Signing Of New Distribution Agreement
Biotricity Signs Distribution Agreement With Top 5 Distributor for its Cardiac Monitoring Solutions
REDWOOD CITY, CA / ACCESSWIRE / January 26, 2023 / Biotricity Inc. (NASDAQ:BTCY) ("Biotricity" or the "Company"), a medical diagnostic and consumer healthcare technology company, today announced it has signed its second distribution agreement with a top five US medical device distributor for the marketing and distribution of its two cardiac monitoring solutions (CMS) designed for cardiologists' patient use - Bioflux® and BiotresTM.
The distribution agreement covers Bioflux and Biotres and will be distributed directly to hospitals and clinics for professional medical utilization with suitable patients.
Commenting on the agreement, Biotricity Founder, Chairman and CEO Waqaas Al-Siddiq, Ph.D., said, "The future of healthcare lies with new, state-of-the-art technology that produces a more efficient and higher quality of care through remote care. That means tech that is specially designed for smart remote monitoring of individuals using digital/wireless and cloud-based technology with seamless integration with all platforms and devices."
"Our Bioflux and Biotres solutions address a market valued at $6Bn, and we fully expect to capture an increasing share of this growing marketplace," Dr. Al-Siddiq added. "We are delivering cardiac care remotely, 24/7 and in real-time as needed, with technology that rivals existing standard of care solutions. Long term, we are confident our technology, and the lifestyle improvements it encourages will bend the curve of growing rates of heart disease."
Read the full article here.
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No. 5 BTCY Potential Catalyst - A Low Float Provides Volatility Potential On A Daily Basis
According to the Yahoo Finance website, BTCY has a relatively low float.
The website reports this profile to have approximately 39.87Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
Could positive company news in the first half of 2023 provide a near term spark?
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BTCY Recap - The 5 Top Potential Breakout Catalysts To Know
No. 1 - Zacks Small-Cap Research Provides $7.50 Price Target
No. 2 - These Nine 2022 Achievements Has The Company Higher-ups Jacked For 2023 And Beyond
No. 3 - Revenue Growth Signals A Company On The Rise (98% Customer Retention Rate)
No. 4 - 2023 Sales Could Grow Significantly With Signing Of New Distribution Agreement
No. 5 - A Low Float Provides Volatility Potential On A Daily Basis
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Coverage is officially reinitiated on BTCY. When time permits, do this:
