Biotricity (BTCY) Q2 2025 earnings summary

Executive summary

• Achieved positive EBITDA and positive cash flow on a current operating basis for the first time in September 2024, marking a key milestone toward profitability.

• Revenue for Q2 2025 grew 13% year-over-year to $3.3 million, driven by recurring technology fees and device sales.

• Gross margin improved to 75.3% from 69.1% in the prior year, reflecting operational efficiencies and AI-driven data processing.

• Operating expenses decreased 34% year-over-year, reflecting cost control initiatives and reduced R&D spending.

• Strategic partnerships and expansion into neurology and pulmonology broadened market reach and recurring revenue streams.

Financial highlights

• Gross profit for the quarter was $2.5 million, with gross margin at 75.3%.

• Net loss decreased 57% year-over-year to $1.65 million, or $0.073 per share.

• Adjusted EBITDA for Q2 2025 was negative $249,000, an 87% improvement year-over-year.

• SG&A expenses reduced by 35.5%; R&D expenses down nearly 26%.

• Cash at September 30, 2024, was $173,270, with a working capital deficit of $17.4 million and an accumulated deficit of $136.1 million.

Outlook and guidance

• Management expects continued revenue growth, further improvements in gross margin, and ongoing cost control to achieve profitability and positive cash flow.

• Inventory and assets in place to achieve profitability without further major investment.

• Additional capital will be required to fund operations, product development, and commercialization efforts over the next twelve months.

• Expecting revenue from Canadian operations to begin within the next few quarters.

• New international regulatory approvals set up for further expansion in 2026 and beyond.