Biotricity, Inc. (NASDAQ:BTCY) Q3 2024 Earnings Call Transcript February 21, 2024 4:30 PM ET
Company Participants
Debra Chen - IR
Waqaas Al-Siddiq - Founder and CEO
John Ayanoglou - CFO
Conference Call Participants
Ben Haynor - Alliance Global Partners
Michael Davin - H.C. Wainwright
Operator
Good afternoon, I welcome to Biotricity Third Quarter Fiscal 2024 Financial Results and Business Update Conference Call. Today's conference is being recorded.
At this time, I would like to turn the conference over to Debra Chen of Investor Relations. Please go ahead, Ma'am.
Debra Chen
Good afternoon, everyone, and welcome to Biotricity third quarter fiscal 2024 earnings conference call. As a reminder, Biotricity’s third quarter 2024 fiscal year ended December 31st, 2023. So, all figures presented for this period will reflect that end date. Earlier Biotricity issued its fiscal 2024 third quarter press release, which highlighted financial and operational results. A copy of the press release is available on the Investor Relations section of Biotricity's website and the full financials have been filed with the SEC on Form 10-Q, and posted on EDGAR at www.sec.gov.
Before beginning the company's 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. Any 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.
At this point, I'm pleased to turn the call over to Biotricity's Founder and CEO, Dr. Waqaas Al-Siddiq. Please go ahead.
Waqaas Al-Siddiq
Thank you, Debra, and thank you, everybody, for joining us today. This quarter proved to be quite successful for us. Despite limited news announcements, our diligence and focus efforts can be seen across various operational and financial metrics. We not only improved our margins once again, but also achieved record margins, increased our revenue and reduced losses. This brings us closer towards our path to profitability, and I believe that time has never been near.
We continue to leverage our data intelligently, pushing the boundaries of operational automation and efficiency, and in late January, we announced the development of our cardiac AI cloud platform. The platform is being designed for predictive monitoring, helping physicians and users in detecting potential issues before they arise. This supports our objective for early interventions, which decreases the likelihood of readmissions and contributes to lowering healthcare costs. Biotricity product portfolio is already recognized as one of the most extensive remote cardiac monitoring collections worldwide, and this further reinforces our commitment to advanced healthcare solutions.