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Biotricity

BTCY · OTC

$0.055+$0.005 (+10.00%)TodayMarket closed ·
Prev close $0.05

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The case for and against

Updated Nov 27, 2024

Bull case

Biotricity Inc. has experienced a significant increase in cash balance, growing by nearly $1.2 million from the previous quarter, which provides the company with a stronger operational foundation. The company reported a stable customer retention rate of 98% and a notable rise in recurring technology fees, which constituted approximately 95% of revenue for FY2Q24, reflecting the success of its transition to a subscription-based model that now includes a flat fee system representing 73% of these recurring fees. Forecasts indicate continued financial growth, with initial sales estimates projecting an 18% increase for FY25 to $14.3 million, while the ongoing strategic shift enhances revenue predictability and aligns costs with client needs.

Bear case

Biotricity Inc. reported FY2Q24 revenues of $2.9 million, a decline of 4% from FY1Q24 and falling short of the $3.3 million estimate, indicating ongoing sales challenges. The company's FY23 revenues significantly missed projections at $9.6 million, against an initial estimate of $35.9 million, and further revisions have lowered FY24 sales expectations from $13.8 million to $12.3 million. Despite potential demand for remote cardiac care, the company's inability to generate sufficient customer interest and ongoing capital constraints have adversely impacted its financial outlook and raised concerns about the viability of its value proposition.

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