|Biotricity (BTCY) Reports Strong FYQ3 Results and Lays Out Plans for a Breakout Year Ahead
“Look at this local news story where Biotricity’s Bioflux Device saved this man’s life – https://www.youtube.com/watch?v=Jj3LDuNu–w”
Good day everyone and welcome to our new group members,
Last month when we reported on Biotricity, Inc. (NASDAQ: BTCY) I indicated they would be releasing their earnings report in a few weeks. We got the Q3 earnings report (FYE is March 30) on February 14th, 2022 and once again, it was great news.
Current price $2.64/share
BTCY Continues to Achieve Key Milestones
More good news with a recent strong financial report.
The share price is the lowest level I’ve seen in the past nine months, creating what I believe is an anomalous opportunity.
BTCY shares had a high of $5.30/share eleven weeks ago. Returning to that level will represent over 100% in gains for our group from the current levels.
Q322 financial highlights include:
Revenue of $1.93 million, an increase of 93% year-over-year and sequentially 7% above the $1.8- million reported in Q2FY22.
Cash Position of $16.8 M at quarter end is their highest ever.
Scaling well – SG&A rose just 40%, R&D up 32%, compared with 93% revenue increase.
Net loss of $7.34 million or $0.15 per share, impacted by one-time derivative fair value and accretion expenses of $1.34 million during the quarter; excluding these non-recurring items would result in an adjusted net loss of $6.0 million or $0.12 per share.
On track for FYE22 triple digit revenue growth.
Here is the recent growth in BTCY revenues:
FYE 2019 $392K
FYE 2020 $1.41M +259%
FYE 2021 $3.38M +139%
FYE 2022 $7.42M +119% (assumes Q422 revenue is equal to Q322 revenue)
Those figures above represent a cumulative revenue gain, over only three years, of 1,890%. I am hard pressed to think of another company with that level of revenue gains, in that short a period.
Q322 operational milestones:
Bioheart was brought to market, a heart monitor now directly available to consumers on the company website or Amazon.
FDA 510(k) clearance of Biotres, a holter monitor for low-risk patients designed for comfort and long-term wear. It will work with the Bioflux Platform as an additional billable tool for cardiac physicians.
In December, the Company successfully completed a $12 million non-dilutive debt financing on favorable terms.
There is a potential looming market for BTCY products due to covid. As just reported in the Washington Post, recent studies show that people exposed to covid are experiencing irregular pulse rates even months after infection. The studies, published in Nature Medicine, indicate that the risk of cardiovascular disease increased substantially in the year following infection even in mild covid cases, including folks in their 30s and 40s.
Donald M. Lloyd-Jones, president of the American Heart Association has stated publicly “we are expecting a tidal wave of cardiovascular events in the coming years from direct and indirect causes of covid.” I haven’t had covid (knocking on my wooden desk now) but if I’m ever exposed to it I would go to the BTCY website and get a Bioheart Monitor considering the $199 cost a cheap investment in my health.
The NASDAQ index has dropped significantly and BTCY shares have dropped in lockstep with the index, but the four analysts covering BTCY haven’t budged in their opinions. All four analysts have a “buy” rating on the company with a consensus target of $6.75/share representing a 153% upside.
BTCY has experienced fantastic growth but stayed dedicated to building shareholder value as evidenced by maintaining their modest share structure with 49.8M shares outstanding and only 39.5M shares in the public float. Since insiders hold about 7.5M shares, their interest in shareholder value benefits them. Note that The Vanguard Group owns 4.3% of the outstanding shares.
Anticipated and upcoming FY22 catalysts for BTCY:
BIG ONE HERE – Introduction of Bioflux 2.0, the next gen of their flagship platform used by cardiac clinics.
Watch this local news story where Biotricity’s Bioflux Device saved a man’s life – https://www.youtube.com/watch?v=Jj3LDuNu–w
This man is alive because of the Bioflux device reporting a dangerous abnormal heart beat while he was sleeping at 11pm. When this device gets into the broader market, there could be much more stories like this equating to a massive revenue stream for Biotricity.
Growth in the company sales force to push the company cardiac ecosystem beyond the current 1500 cardiac doctors and twenty-six states.
The introduction of advanced ECG analysis software that will analyze accumulated data in seconds.
Commercialization of the Biotres holter monitor.
The current value of BTCY stock doesn’t seem to reflect their level of revenue growth, technology, or their clearly defined milestones and potential catalysts for the year ahead.
We will be back with an updated report soon,
The Traders News Group