Biotricity, Inc. (NASDAQ:BTCY) Q2 2023 Earnings Conference Call November 14, 2022 4:30 PM ET
Company Participants
Valter Pinto - Managing Director, KCSA Strategic Communications
Waqaas Al-Siddiq - Chairman, Chief Executive Officer & Founder
John Ayanoglou - Chief Financial Officer
Conference Call Participants
Frank Takkinen - Lake Street Capital Markets
Michael Donovan - H.C. Wainwright
Operator
Good day, and welcome to the Biotricity's Fiscal Second Quarter 2023 Financial Results Conference Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Valter Pinto, Managing Director, KCSA Strategic Communications. Please go ahead.
Valter Pinto
Good afternoon, everyone, and welcome to Biotricity's fiscal second quarter 2023 earnings conference call. As a reminder, Biotricity's fiscal quarter ended on September 30th, 2022. So all figures presented for this period will reflect that end date.
Today, we issued our fiscal second quarter 2023 financial results press release. A copy of this press release is available on the Investor Relations section of our website, and the full financials will be filed with the SEC on Form 10-K and posted on EDGAR.
Before beginning our formal remarks, I'd like to remind listeners that today's discussion may contain forward-looking statements that reflect management's current views with respect to future events. As such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. Biotricity does not undertake to update any forward-looking statements except as required.
I’d now like to turn the call over to Biotricity's Founder and CEO, Dr. Waqaas Al-Siddiq. Please go ahead.
Waqaas Al-Siddiq
Thank you, Valter. And thank you everyone for joining today. Welcome to our fiscal second quarter 2023 earnings conference call. During the second quarter, we continue to advance our product development and commercialization strategy, in order to position our company as the all-in-one go-to solution for cardiac diagnostics and disease management.
Our leading revenue driver in the second quarter continued to be Bioflux, our high-precision single-unit mobile cardiac telemetry device that provides real-time monitoring and transmission of the patient's ambulatory ECG diagnostics. We continue to grow our data set, which is comprised of billions of patient's heartbeats, allowing us to further develop our predictive capabilities relative to atrial fibrillation and other arrhythmias.
Revenues earned with respect to this device are comprised of device sales and technology fee revenue or Technology-as-a-Service revenue. For the three months and six months ending September 30, 2022 our combined device sales and technology fee income totaling $2.4 million and $4.4 million, representing an increase of 32% and 24% compared to the corresponding period year prior, showcasing our year-over-year growth and validating our recent strategic initiatives.