Biotricity Provides Year-End Guidance with Expectations to Meet Analyst Revenue Target and Beating Loss and Margin Targets

Company expects Loss from Operations to decrease by over 40% YoY and Margin Improvement by over 10% YoY

REDWOOD CITY, CA / ACCESSWIRE / June 6, 2024 / Biotricity Inc. (NASDAQ:BTCY), a leading Technology-as-a-Service (TaaS) company dedicated to disrupting the healthcare industry with cutting-edge medical and consumer diagnostic solutions, is excited to provide guidance for its upcoming Year-End Results. Biotricity announces expectations to meet analyst revenue target, while beating margin and loss targets.

• Revenue Growth is expected to exceed 24% YoY
• Loss from Operations is expected to decrease by over 40% YoY
• Margins are expected to improve by over 10% YoY

“These developments are key indicators of the company’s continued execution and upcoming milestone of achieving cashflow breakeven,” remarked Dr. Waqaas Al-Siddiq, Founder and CEO of Biotricity. “We have shown continued YoY growth while improving losses and margins. This combination of growth, reduction in losses and margin improvement are a path to profitability. Biotricity is among the few who experience all three simultaneously.

These developments are a result of Biotricity’s continued excellence in the market and its business model, driving higher adoption of its solutions and increasing revenues. The company’s TaaS model is characterized by excellent margins and customer retention with improving operational efficiency, making it a leader within the cardiac market.

For further information about Biotricity Inc. and its innovative healthcare solutions, please visit www.biotricity.com/investors.

About Biotricity

Biotricity stands at the forefront of the medical technology landscape, pioneering the future of healthcare with cutting-edge remote biometric monitoring solutions. Biotricity offers the medical and consumer sectors, an array of advanced diagnostic and post-diagnostic solutions designed to improve chronic conditions and enhance cardiac health. To learn more, visit www.biotricity.com and follow us on Twitter and LinkedIn.

Important Cautions Regarding Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words “may,” “should,” “would,” “will,” “could,” “scheduled,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “seek,” “project,” or “goal” or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of HeartSecure or any of the Company’s other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company’s future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events, or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to several risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements because of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company’s inability to expand the Company’s business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company’s failure to implement the Company’s business plans or strategies. These and other factors are identified and described in more detail in the Company’s filings with the SEC. There cannot be any assurance that the Company will ever become profitable. The Company assumes no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.

Investor Relations Contacts

investors@biotricity.com

SOURCE: Biotricity, Inc.

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