Biotricity Q2 2026 Earnings Report

Biotricity EPS Results

• Actual EPS: -$0.03
• Consensus EPS: -$0.08
• Beat/Miss: Beat by +$0.05
• One Year Ago EPS: N/A

Biotricity Revenue Results

• Actual Revenue: $3.89 million
• Expected Revenue: $3.90 million
• Beat/Miss: Missed by -$10.00 thousand
• YoY Revenue Growth: N/A

Biotricity Announcement Details

• Quarter: Q2 2026
• Date: 11/14/2025
• Time: After Market Closes
• Conference Call Date: Friday, November 14, 2025
• Conference Call Time: 4:30PM ET

Biotricity (NASDAQ:BTCY) (NASDAQ:BTCY) is a digital health company specializing in remote patient monitoring solutions across cardiovascular and chronic disease management. The firm develops and commercializes a patented wearable biosensor platform designed to capture continuous physiological data, including electrocardiogram (ECG) readings and heart rate variability. This integrated system combines lightweight, adhesive biosensors with cloud-based analytics and clinician-facing software to support early detection of cardiac arrhythmias and facilitate telehealth care delivery.

The company’s flagship offering, the Bioflux™ platform, comprises a small, single-use wearable device that transmits real-time data to a secure portal, where advanced algorithms analyze cardiac patterns and generate clinician alerts. Complementing the hardware are subscription-based services—such as Bioflux™ Rx—through which Biotricity provides end-to-end monitoring programs under a prescription model. These programs enable cardiologists, primary care physicians, and remote monitoring centers to review patient data remotely, optimize treatment plans and enhance patient engagement without the need for in-office visits.

Founded in 2015 and headquartered in Menlo Park, California, Biotricity serves healthcare providers and payors throughout the United States, with emerging international partnerships aimed at expanding telemedicine adoption. Under the leadership of Founder and Chief Executive Officer Amir Kalali, the company has secured regulatory clearances for multiple product lines and continues to invest in research and development to broaden its digital health ecosystem. Biotricity’s solutions target efficient, patient-centric care by leveraging real-world data and scalable technology to address growing demands for remote monitoring in modern healthcare.

Biotricity Q2 2026 Earnings Call Transcript

Key Takeaways

• Positive Sentiment: Revenue grew 19% year-over-year to $3.9M, gross profit rose 29.4% to $3.2M, and gross margin expanded 660 basis points to 81.9%, driven by technology-fee mix and AI/cloud efficiencies.
• Positive Sentiment: The company recorded its second consecutive quarter of positive EBITDA ($373k) and five straight quarters of positive operating free cash flow, saying it expects to reach profitability in the next few quarters.
• Positive Sentiment: Commercial expansion continues with pilot programs in hospital networks, new contracts in the VA and major home-care groups, and agreements with three large GPOs that provide access to ~90% of U.S. hospitals.
• Negative Sentiment: Despite improvement, GAAP results remain a loss—net loss of $772k (loss per share $0.029)—and operating expenses rose 5.1% year-over-year, so sustained profitability is not yet guaranteed.

Presentation

[Operator]

Good afternoon, and welcome to Biotricity's second quarter, fiscal 2026 financial results and business update conference call. Today's conference is being recorded. As a reminder, this is Biotricity's second quarter, fiscal 2026, ended on September 30, 2025. All figures presented for this period will reflect that end date. Earlier, Biotricity issued its earnings press release for the period, which highlighted financial and operational results. A copy of the press release is available on the investor relations section of Biotricity's website, and full financials have been filed with the SEC on Form 10-Q and posted on edgar@www.sec.gov. Before beginning the company's formal remarks, I'd like to remind listeners today discussions may contain forward-looking statements that reflect management's current views with respect to future events. Any such statements are subject to risk and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements.

[Operator]

Biotricity does not undertake to update any forward-looking statements except as required. At this point, I'm pleased to turn the call over to Biotricity's founder and CEO, Dr. Waqaas Al-Siddiq. Thank you. Please go ahead.

[Waqaas Al-Siddiq, Founder and CEO at Biotricity]

Hi everybody. I would like to first thank everybody for joining us today. Fiscal 2026 has been a pivotal year for Biotricity, defined by significant advancements and strategic initiatives that have brought us to the threshold of profitability. Our relentless focus on innovation, strategic partnerships, and operational excellence have positioned the company for continued growth and scalability across multiple fronts. This is a milestone as it sets the foundation for continued growth. With our approach to operational efficiency and automation, we can continue to scale and grow the business while maintaining margins and costs. We believe we have achieved economies of scale where new revenue will have incremental operational costs but with declining ratios, driving us to a healthy net margin business similar to other SaaS-like businesses. Technologically, we are continuing to hone our AI clinical model while developing next-generation diagnostic technologies.

[Waqaas Al-Siddiq, Founder and CEO at Biotricity]

Our focus is to have a suite of diagnostic tools that are available to clinicians for more comprehensive screenings. To that end, we are now in the process of developing a multi-parameter cardiac monitor. In preparation of this ultimate goal, we are finalizing Biocore Pro 2, our next-generation cardiac monitor with an expanded set of capabilities, which we expect to file for FDA by end of Q1 next year. During the latest quarter, we continue to expand sales of Biocore Pro, our next-generation cardiac monitoring device, strengthening our industry presence and underscoring our dedication to delivering cutting-edge healthcare technology. This includes recent initiatives that continue to build momentum, including the launch of major cardiac monitoring pilot programs with several hospital networks and clinics, accelerating our path to break-even. These efforts are anticipated to fuel the rapid adoption of our Biocore Pro, expanding use across existing and new customer bases.

[Waqaas Al-Siddiq, Founder and CEO at Biotricity]

Alongside sales expansion, we have focused on expanding our strategic partnerships to build complementary distribution channels where we are inactive. Recently, this has culminated in market expansion with contracts in the VA and leading home care groups. Additionally, we continue to expand our pulmonary and neurology partnerships with leading home-based diagnostic companies, diversifying our market reach. In summary, our innovations, strategic execution, and operational efficiency have positioned Biotricity for sustained growth and profitability. In the coming year, our focus is to expand our commercial team, investing profits into commercial expansion to increase market share and drive top-line growth. We expect our growth rate to improve as we invest profits into commercial expansion. We remain focused on delivering innovative, high-quality cardiac care solutions and are confident in our ability to continue driving value for our shareholders while improving patient outcomes worldwide.

[Waqaas Al-Siddiq, Founder and CEO at Biotricity]

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

[John Ayanoglou, CFO at Biotricity]

Thank you, Waqaas. Let's review the highlights of our second quarter, fiscal 2026. Our recurring revenue generated as a result of strong market adoption of our technology as a service subscription model, as well as our usage-based subscriptions, remains robust, driven by the popularity of our FDA-cleared cardiac monitor devices, especially the next-gen Biocore Pro, which features cellular connectivity. Atrial fibrillation, a primary contributor to strokes, remains a significant focus for our business. Biotricity has already monitored and recorded well over 2 trillion heartbeats, improving patient outcomes for patients with atrial fibrillation, increasing their chances of earlier medical intervention. This is not only an improvement in patient outcomes, it also has the propensity to deliver significant healthcare cost savings for both patients and the broader healthcare system.

[John Ayanoglou, CFO at Biotricity]

For the second quarter of fiscal 2026 ended September 30, 2025, revenue increased by 19% compared to the corresponding prior year period to $3.9 million from $3.3 million in the prior quarter. This growth is reflective of our strategic initiatives and directly impacted by our focus on continual technological advancement. We see further revenue growth in our sales pipeline in coming quarters and are optimistic about delivering those future results, which reflect the fact that our latest flagship device is a best-in-class device geared towards use in hospitals and large clinics where we continue to penetrate effectively. Technology fees accounted for 89% of the quarter's total revenue, reflecting strong customer satisfaction and retention and quality support services. Gross profit for the quarter totaled $3.2 million, up 29.4% from $2.5 million of the prior year period.

[John Ayanoglou, CFO at Biotricity]

Our gross profit percentage improved 660 basis points to 81.9% for this quarter, up from 75.3% in the corresponding prior year quarter. This increase is attributable to the expansion of our current technology fee revenue base, efficiencies gained through our proprietary AI, and improvements in our monitoring and cloud cost structure. As part of our sales initiatives, we continue to search for opportunities to expand our geographic footprint. We serve thousands of cardiologists across hundreds of centers. Our insourcing business model allows these cardiac medical professionals to have direct control over our services, enhancing efficiency and enabling broader market penetration. Our business development initiatives include expansion into other verticals that are ancillary but fit naturally with our core business. We continue to investigate those types of opportunities for the future.

[John Ayanoglou, CFO at Biotricity]

Operating expenses for the second quarter were $2.9 million compared to $2.8 million in the same period last year, which is a 5.1% increase. Our SG&A expenses increased by 2.5%, a comparative additional spending of over $56,000 for this quarter, that we added to our R&D expenses, increasing those by $84,000. As previously discussed, we have strategically transformed our sales force to increase efficiency. Our external sales team is focused on longer sales cycles and larger accounts, including independent hospitals and GPO networks. We are contracted with three of the largest GPO networks, which gives us coveted access to sell into more than 90% of hospitals in the U.S.

[John Ayanoglou, CFO at Biotricity]

All of these positive improvements in revenue growth and operating efficiencies through the use of AI and other automation, as well as proactive cost management, have allowed us to continue to achieve positive free cash flows defined as the cash from operations that is available to pay interest and dividends. We have done this for the last five consecutive quarters, and it has been set on a path to achieve profitability in the next few quarters. In fact, we are pleased that this quarter, the second quarter of fiscal 2026, is the second consecutive quarter of Biotricity in which it has achieved a positive EBITDA. This is an important milestone and indicator that we are nearing full profitability. The company achieved EBITDA of $373,000 this quarter, which corresponds to $1.40 on a per-share basis. A reconciliation of our EBITDA and adjusted EBITDA numbers is available in our 10-Q.

[John Ayanoglou, CFO at Biotricity]

We are pleased with the progress made in building our technology, obtaining FDA registrations, developing effective sales strategies, and implementing cost-cutting measures. The result has been an improvement in operating results of nearly $0.6 million to achieve our second consecutive profitable quarter from operations, which was $274,000 for this quarter. Net loss attributable to common shareholders for the fiscal three-month period was $772,000 compared to $1.6 million during the corresponding prior year period. On a per-share basis, we reported a loss per share of $0.029 compared to $0.73 for the corresponding prior year period. Looking ahead, we remain committed to advancing our business through commercialization of our Biocore, Bioflux, and Biocare products. Our tech is truly useful globally, and cardiac is the number one chronic care condition in the entire world.

[John Ayanoglou, CFO at Biotricity]

The growing market interest and demand for our suite of products dedicated to chronic cardiac disease prevention and management reinforce our confidence in our market position. Importantly, our focus on innovation and development continues to yield significant advancements in our remote monitoring solutions for both diagnostic and post-diagnostic products, bringing us ever closer again to profitability. We are excited about the future and confident in our ability to deliver sustained growth and profitability for Biotricity. That concludes our prepared remarks. Operator, please open the line for questions.

[Operator]

Thank you. With that, we will be conducting a question-and-answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate that your line is in the question queue. You may press star two to remove yourself from the queue. For participants using speaker equipment, it may be necessary to pick up the handset before pressing the star keys. One moment while we poll for questions. Once again, if you'd like to ask a question, please press star one on your telephone keypad. Okay, gentlemen, looks like there are no further questions at this time. I'd like to turn the conference back to management for any closing remarks.

[Waqaas Al-Siddiq, Founder and CEO at Biotricity]

Thank you. Thank you all for attending. This has been a fantastic quarter for us, as we believe it is the moment we achieved economies of scale. We are confident that we are on the cusp of profitability and expect increasing revenues while maintaining margin. Our focus now is to scale the business, investing in the expansion of our commercial team to drive growth and market share. If I had to distill our message into key takeaways for the next 12 months, they would be as follows. One, our revenue will continue to increase. Two, our margins will be maintained. Three, we will be profitable and will invest our profits into commercial expansion to increase revenue and market share. Four, we will continue to innovate. Thank you and have a great day.

[Operator]

Thank you. And with that, everyone, this does conclude today's teleconference. We thank you for your participation, and you may disconnect your lines at this time. Have a wonderful rest of your evening.

Participants

Executives

• John Ayanoglou, CFO
• Waqaas Al-Siddiq, Founder and CEO