Press release, revenue blasting upward, momentum increasing. 07/25/23 Exponential increase in the number of patients led to $13 million in revenue in April.
Dr. Waqaas Al-Siddiq, Biotricity Founder & CEO, commented, "Today, we're proud to announce that we have built a powerful proprietary cardiac AI model that combines Google's TensorFlow, Amazon Web Services infrastructure, big data, and a continuous learning engine. This combination allows us to rapidly improve our cardiac monitoring technology. In the near future, we believe the capabilities of our cardiac AI model will allow us to support healthcare professionals in handling exponentially more patients while identifying the most critical data. This will enable healthcare workers to elevate the quality of care while serving a larger number of patients. As growing patient numbers further stress the shortage of healthcare professionals, our technology could help alleviate this pressing issue. We have engineered our technology to not only improve patient care and outcomes but also to do so in a manner that supports more patients. This has led to increasing sales of our remote cardiac monitoring devices and the ramp-up of our subscription-based service, accelerating our recurring revenue over the past few quarters. This has led us to achieve a $13 million revenue run rate in April 2023 and has charted a clear path to profitability.