Biotricity (BTCY) 15 Nov 242025 Q2 Earnings call transcript

Greetings, and welcome to the Biotricity conference call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce Founder and CEO, Dr. Waqaas Al-Siddiq. Thank you.

begin. may You

for everybody, today. Thank joining you, us

first quarter marked by has led to us for profitability. a our and initiatives been Biotricity, for to the EBITDA positive quarter transformative achieving in significant path has September continuing Second that XXXX time advancements strategic and

the shift from One margins, revenues most been operational this to aspects all efficiency quarter achievements our in of a positive to EBITDA. of has and significant improvement the business

has allowed strategic across innovation, commitment efficiency remarkable and Our to partnerships progress us operational multiple to make fronts.

data AI nature. We in explore are our platform. research expand with continuing our Recently, complications postoperative capabilities to cloud in Cardiac capabilities, we predicting published harnessing our predictive our to

clinical model mid to year. by our We file expect for AI expand next and research FDA our of

purchasing along helped alliances pilots positions known us in that multiple technology This beyond and market and pulmonology are strategic health on broader with in otherwise and our organizations expanding momentum. capitalize group gain kick secure the reach. with channels significantly have to top presence reach the These in currently organizations, specialist care recent partnerships off contracts, market to strengthening are our neurology GPOs, as opportunities Our expanding sector. our large larger cardiology, beginning

critical. our growth access more to of where also As Biotricity order has our are the complementary have how part in develop is order noted our support the release, our is recent cardiac about largest excited to are inventory diagnostics to ever quarters. testament recently of to a the procured strategy we we funding This place in partners coming in These broader initiatives partnerships placed.

whose broad have on have a existing comorbidity cardiac continue partners or to reach focus We factor. risk customers will a that and

have summary, for driving our are delivering and strategic our and care remain improving profitability. patient and technological to high-quality We our continue efficiencies value outcomes innovative, ability Biotricity and confident focused operational in on initiatives, sustained globally. positioned for cardiac growth advancements In solutions shareholders

John Ayanoglou, that, the With will more insights. turn I provide to to our detailed CFO, financial call over

Waqaas. you, Thank

our review Let's the quarter XXXX. fiscal second highlights of of fiscal

revenue of and Our as subscriptions popularity cardiac model from well monitoring our the remains our as our usage-based FDA-cleared driven robust, subscription state-of-the-art Biocore. by devices recurring our particularly generated Technology-as-a-Service

We market the continue demand to of strong cellular Pro, particularly next-generation and in which see Biocore case adoption, connectivity. the features

the contributor a the broader significant fibrillation Atrial and providing to technologies focus underscores and atrial cardiologists fibrillation, both This intervention. system. for of primary care only medical the ecosystem outcomes a patients savings facilitate improves is health but patient of individuals earlier diagnosis remains strokes and care not products. for also and our of We opportunity cost health significant

revenue For quality testament is XXXX, of our and the the quarter XX% efficacy This by technology second to XX, increased million. a ended growth strategic $X.X our initiatives. to year-over-year September of

Our of that are high-volume and sales clinics at [ longer for unprecedented ] high-quality, Biocore line products pilots cycle, conducting hospitals larger of accounts our we and have are an and heads technologies. of trials that us have pipeline turning a

to business our predictable flat stream. of having to revenue transitioned X/X higher transition to already a a approximately focus more our business and subscription in successful establish been quality fee also We've model, our

prior revenue from comparative XX% by grew the quarter the fee flat about Our year-over-year of year.

fee Technology retention in revenue. strong increase little the services. Fees revenue again, quality XX.X% support our a rose flat by our XX% reflects a million, to customer $X.X and this under year-over-year of Once flat --

period. the Gross prior from $X quarter profit year million totaled in up the million, $X.X XX% for

our We've AI through proprietary also which devices, monitoring also structure. our to increase Fee in are improvements expansion Our X,XXX prior higher the gross XX.X% sales basis margins. to points in of recurring cost the profit improved use producing This of is and XX.X% gained fiscal our enjoying for the now year, from revenue efficient in percentage Technology we that up the attributed base, become efficiencies year. more

medical insourcing broader cardiac model Our penetration. business our services, have efficiencies market enhancing professionals allows to direct over and enabling control

Operating fiscal year. to million second improvement. quarter of were million period same a in XXXX is the compared the This $X.X expenses for last XX% $X.X

Our by and by XX.X%, admin selling, XX%. R&D almost and our expenses we general decreased reduced expenses

As on independent including networks. our cycles sales we mentioned focus GPO earlier, larger sales have to strategically and accounts, force transformed hospitals longer and

to to more now of these in partner U.S. As GPO of of X hospitals technology. providing starting us selling signed we've in us Waqaas largest are with to closely the our with And than mentioned, us networks, certain the XX% access work

$X.XXX management common EBITDA automation variable share to million per in interest despite XX% We've to attributable AI net efficient, QX was proactive cost a in of from loss This more use and with stockholders progress. per year-over-year rates. both to our goal higher being loss decreased growth terms our XXXX. become expenses we're breakeven. very year achieve or operations, become associated fiscal pleased and but infrastructure $X.XXX of in or Net share $X.XX $X.XX with million the of we of have also streamline And to

as compared adjusted corresponding and prior operating breakeven. X period flow months X EBITDA and XX% as and as measures EBITDA the for ended X- for September to improved of improvement be company's XX, and when towards towards respectively, breakeven to the X-month progress by EBITDA considers the well year period. ended indicators cash XX.X%, profitability 'XX, Management the

EBITDA is we the night. fact, available uses negative of for comparative in month September flow its EBITDA going as are last of forward. $XXX,XXX free EBITDA in Adjusted A levels, over our tracking a XX% cash XX-Q, an the our million able for -- and to to This EBITDA fiscal September in for our The the adjusted from a period improving which improved measure prior EBITDA reconciliation year. adjusted management for time is on achieve XX, free negative focused a improvement. the positive first of XXXX adjusted quarter was cash our we ended company XXXX, reduction of numbers history, and numbers, the in flow which filed adjusted EBITDA, $X.X

advancing Biocare committed the of commercialization products. remain to Looking ahead, and Biocore we

is Our tech the globally. truly entire condition the is world. #X in chronic useful care Cardiac

We in or to of and approvals us have recently jurisdictions. that to bodies XXXX This sets we Canada, other move sell from the will up regulatory new allow countries, other received intend on made inroads in initiatives including beyond. us for

to products reinforce The suite demand confidence management growing dedicated our and position. market interest prevention cardiac disease for our and our market in of chronic

We're both future our and on us cash profitability focus Biotricity. ability for deliver significant yield sustained and about confident post-diagnostic our advancements solutions growth remote to and closer excited bringing to innovation the Importantly, in monitoring continues achieving positive for flow. diagnostic products, development in and to

our concludes open that the for line please Operator, And questions. prepared remarks.

comes Kevin Dede, question first our And Instructions] H.C. from Wainwright. [Operator

you is cloud? your impact behalf of do calling And this how can efficiencies? Cardiac Michael capabilities patient these and Waqaas, Kevin. capabilities you exploring Waqaas, with the to AI Donovan outcomes elaborate on on you're anticipate predictive operational

Yes. Great question. Thanks, Michael.

really we're terms on what arrhythmia. detection early complex focusing of in is So

AFib, that in like patient requires V-Tachs, stuff a heart they up So a blocks, that procedure. for the may hospital end

to devices that out -- so longer, in bring not insurance system. if because companies allow on, savings type to can -- will doctors costs is for earlier patient that faster don't faster now well deterioration turn and And that patient devices to care earlier. have to can early of a avoid a turn also the -- the a as So huge only our cost avoid to it the spend that stabilize them. don't they to we patient but they the It's health get in stroke $XXX,XXX be the and huge us can doesn't we predict have

That's Okay. helpful.

SG&A looking cost use GPOs, plan further reductions you Or you're have Now account with the networks? are and reductions efficiencies? so maintaining How their you able are at the do on on partnerships these of changes? reduction, these primarily to structural improving your from that they

Yes.

really I things. it's X So a of combination think all

is scale one economies now, we're So things kicking and are those getting in. of

think talking So person and management, becomes one to account. the want as year it's us every but and one as our manage you one person, person you grow account manage one oriented, easier -- last I one don't to if over you heard you've the we about need for where right? business manage, account, that SaaS more more need to about

We So we've those from account perspective. efficiencies management build an gotten to able out as were really we grow, management. account that

that last quarters I the our us previous an about talk created in management we really bifurcated think sales initiative. account you've heard where force and

and to And using And much so focused sales as on big deals, bigger we sales. bigger now sales focusing talked reps longer are that are about, of GPO-oriented to that right? of but do the cycle expense The deals, sales sales account really wins. team those deals, kind opposed on reps John type as reps that. become has G&A And now management efficient driving

that less sales started optimization from of So but you life every just management that then subsequent force when first the in of business business, the really account it's the scale the account than as the coming and cycle -- you are the as grows and an expand, operationally of resources in out. for only not economies you grow is

And but that to as has be So it's the we really business commercial as will together invest be of linear to team, in things going to course, used drive investment it not tandem growing working continue that. all and X our to as is grown.

sense. makes That Okay.

being like your by in calendar this about history, this GPOs? and onboarded you they that? is like for revenue Or this Now XXXX? but bit, required we a inventory -- the we order upon how I know how touched think of their revenue should largest do because think about should inventory year

Yes.

think clear profitability. the So we is hand inventory a path to I now that think on the to way that have about for

there's new So product, are were and were that right? sales have additional which selling, And moving We bringing newer things and our building is obviously from also existing the our customers. but Biocore inventory, on have we on customers has, new before from business out that Bioflux buying Pro. the our still then we we X devices

to inventory So customers all from so existing service of now in of hand of customers devices. and to add and coming course, from a the there's, new all going general be increase those, we have revenue on to

as the to service transition the product, to have newer older customers But we on inventory them. also hand

our to inventory that have now everything profit or achieve purchase about needs your well if answer category. to does we inventory. all invest in units, this from perspective is or think to another the the more to get in-house order, it sell to we assets way, those more need the the need or investor into we inventory And way profitability on point. to an Stated the is we'll from inventory the be based does perspective its So profitability company path it it have and that

Great. Okay.

you Now last talked quarter. it mentioned again. John about Canada

little bit you a market So with Health there? us status, are Biotres, can where of approval Canada of give you guys

It's that. to the -- commercial of is in Canada, our much focus help Canada is very really distribution course, deploy Yes. in focus The U.S. partnerships defined

We kicked bearing relationship, that is already fruit. one off and have

expect in that the bringing start We see to expect revenue as in to, show from quarters. revenue we next couple by And division, within of XXXX. that's up then some that going we to a think trickling Canada

Okay.

So the little in it neurology just promising I bit? that and are about what Or a upon know pulmonology, most you that opportunities, you really can past. market touch find segments And specific you've there? talked

Yes.

with a to there partnerships and cardiac. the population there go a is that So doctor that -- there's is strategy comorbidity population a focused on after patient where really is has over bigger a partner

they're cardiac a So studies them our studies then out studies, the onto home-based focusing cardiologist. those factors pulmonology risk now space, and of figure referring over home-based on and partners to with sleep doing in they're patients sleep

that generating and that It's So that does targeting been and revenue. and already strategic commercial to it's thesis us relationships it's with revenue that that other areas to fruit. a grow, is out bear are proven got relationship does specialty one patients That with that potential. has high a partnerships other off. angle, is groups starting the It's kicked and comorbidities work, does building

the generating coming the one say in can expect in it's opportunities, year. off They're and for relationships revenue. really are pulmonology like and days those active. us both and of those growing, of focused that that still that. coming and we in pulmonologists to where we've kicked partnerships on on on one But is build of the Those more neurologists, other quarters what markets comment is and neurology in I is to Sizing relationships both focused the those are early

at time. are to Al-Siddiq you. thank would like back I closing to the remarks. There no turn further this Dr. floor questions for Waqaas

We next feel behind right We'd call. everybody, thank the the We're on excited our about all this very Thank have we momentum you. for lot like And couple of joining thank of like us now. you, quarters. company shareholders. to a

Margins to that see, we down we've we and profitability. as improve. to you order a Costs improving. now to indicated -- the in are We grow. continue of revenues quarters, losses last clear coming can have path As couple We're inventory excited are our see place. continuing are very in

the have again, to have the on we out We to all our and speaking you resources execute look if and we assets Thank -- have you path. internally needed please forward next call, and that any questions. reach that everybody on to

today's We participation. your for teleconference. conclude you does This thank you. Thank

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