An Emerging Markets News Commentary
ORLANDO, Fla., July 16, 2020 (GLOBE NEWSWIRE) -- Remote medical biometric technology company Biotricity (OTCQB: BTCY) dropped year-end guidance on Wednesday, addressing its challenges and identifying positive events.
The milestones for fiscal 2020 are significant.
They are as follows:
- Increased Market Penetration: Biotricity expanded its customer base and its geographic footprint quarter over quarter by expanding into 6 more states.
Our take: This helps support the narrative that remote medicine, televisits, etc. are the way of the future, and more importantly, that Biotricity is expanding its acceptance in the field. - Increases in its Core Service Revenues: Technology fee revenues have consistently increased over the course of our fiscal year ended March 31, 2020, creating a strong repeatable and growing revenue trajectory.
Our take: Strong revenues often validate the core service offering, operational efficiency and may help ward off toxic financing. - Continuous Innovation: The Company has filed for a 510(k) FDA clearance of its next generation software platform, designed to drive operational efficiency and improve monitoring effectiveness for its clinicians.
Our take: An important moment coming for the Company.
About Biotricity Inc.
Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Biotricity’s R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system. To learn more, visit www.biotricity.com.
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