Biotricity reported QQ1 2025 revenue of 3.20 million, up 5.99% year-over-year and 0.74% quarter-over-quarter, supported by a gross profit of 2.36 million and a gross margin of 73.8%. Despite the top-line improvement, the company posted a net loss of 3.69 million and an EBITDA loss of 1.78 million. The operating loss was 1.12 million, with operating leverage limited by high fixed SG&A expenses and ongoing R&D outlays. Management commentary is not contained in the provided transcript data; however, the quarterly results underscore a continued burn through operating activities and a fragile liquidity position.
From a balance sheet perspective, Biotricity remains heavily levered with total liabilities of 33.01 million against total assets of 5.42 million, producing a negative stockholders’ equity of -27.59 million. Cash and cash equivalents stood at 0.10 million at period end, and net debt was approximately 22.98 million after accounting for cash and debt levels. The current ratio (0.199) and quick ratio (0.106) indicate material near-term liquidity risk, while a negative working capital position reflects elevated short-term funding needs. The company generated negative operating cash flow of 1.49 million for the quarter, with financing activities providing a net cash inflow of 0.87 million and a net cash outflow of 0.69 million. These dynamics imply a narrow liquidity runway absent additional financing or a meaningful ramp in citable revenue streams.
In terms of market positioning, Biotricity operates in a competitive remote monitoring space (BioFlux ECG device and related software) with potential addressable demand in diagnostics and chronic care management. Relative to peers in the cardio-monitoring ecosystem, BTCY’s valuation metrics show a price-to-sales of ~3.54 and a negative enterprise value, reflecting the burden of deficits and the need for external capital to fund continued product development and commercialization. The upcoming quarter will be pivotal for liquidity planning and any commercialization milestones that could alter the revenue trajectory. Overall investment sentiment remains cautious given the balance sheet stress and ongoing losses, but a favorable funding outcome or acceleration in Bioflux adoption could improve the revenue mix and cash flow profile over time.