Biotricity, Inc. (BTCY): History, Ownership, Mission, How It Works & Makes Money

When you look at the remote patient monitoring space, Biotricity, Inc. (BTCY) stands out not just for its cardiac Technology-as-a-Service (TaaS) model, but for its clear operational inflection point: for the fiscal year 2025, the company reported revenue of $13.8 million, a 14.3% jump year-over-year, alongside a significant gross margin expansion to 76.6%. Are those numbers enough to move a micro-cap with a market capitalization around $14.82 million toward sustainable profitability? The fact that Biotricity, Inc. achieved its first-ever positive Adjusted EBITDA of $438,260 in the fourth quarter of FY25 suggests a defintely stronger foundation, but we need to see how their core mission and revenue mechanics drive that growth going forward.

Biotricity, Inc. (BTCY) History

You're looking for the bedrock of Biotricity, Inc.'s strategy, and it starts with its origin. The company's history is a clear arc from a hardware-focused startup to a high-margin, recurring-revenue Technology-as-a-Service (TaaS) provider. This shift is the single most important factor in understanding its current financial trajectory, especially with the strong 2025 fiscal year results we've seen.

Given Company's Founding Timeline

Year established

Biotricity was established in 2010, born from a vision to merge medical-grade diagnostics with consumer-friendly technology.

Original location

The company initially operated with roots in Canada before establishing its primary headquarters in Redwood City, California, USA. This US base reflects its core focus on the vast American healthcare market.

Founding team members

The company was founded by Waqaas Al-Siddiq, who has served as the Chairman and Chief Executive Officer since its inception. His vision centered on bridging the gap between hospital monitoring and everyday patient life.

Initial capital/funding

Early capital came from seed funding and initial private investments, typical for a technology startup with significant research and development (R&D) and regulatory hurdles. Later, the company accessed public markets for growth capital, including a notable $12 million capital infusion from SWK Funding LLC in December 2021.

Given Company's Evolution Milestones

Given Company's Transformative Moments

The company's most transformative period centers on its strategic pivot to a Technology-as-a-Service (TaaS) model, moving away from simple device sales. This shift has fundamentally changed the financial profile of Biotricity, Inc.

Here's the quick math on that pivot: for the fiscal year ending March 31, 2025, total revenue reached $13.8 million, a 14.3% year-over-year increase. More importantly, recurring Technology Fees grew to $12.6 million, representing over 10.5 times the revenue from device sales. That's defintely a sticky business model.

The focus on operational efficiency and recurring revenue led to two pivotal achievements in the 2025 fiscal year:

• Achieved its first-ever positive Adjusted EBITDA of $438,260 in the fourth quarter of FY2025, signaling a major step toward financial breakeven.
• Gross margin improved significantly to 76.6% for the full fiscal year, up from 69.3% in the prior year, driven by AI-driven automation and optimized monitoring costs.

Also, the company's strategic alliances with Group Purchasing Organizations (GPOs), which now cover 90% of all hospitals in the US, set the stage for accelerated growth in the near-term. This massive distribution reach, coupled with recognition by the Financial Times as one of 2025's fastest-growing companies in the Americas, confirms the success of their TaaS strategy. For deeper analysis on the company's financial health, you should read Breaking Down Biotricity, Inc. (BTCY) Financial Health: Key Insights for Investors.

Biotricity, Inc. (BTCY) Ownership Structure

Biotricity, Inc.'s ownership structure is heavily weighted toward company insiders, which tells you the leadership team has significant skin in the game, but it also means the public float is relatively small. This concentration of ownership can lead to less stock liquidity, but it also aligns management's interests defintely with long-term shareholder value.

Biotricity, Inc.'s Current Status

As of November 2025, Biotricity, Inc. is a publicly traded company, listed on the OTC Markets Group's OTCQB Venture Market under the ticker symbol BTCY. Being a public entity means the company is subject to regular financial disclosures with the Securities and Exchange Commission (SEC), providing transparency into its operations and financial health. Breaking Down Biotricity, Inc. (BTCY) Financial Health: Key Insights for Investors is a good next read.

The company has a market capitalization of approximately $14.55 million as of early November 2025, reflecting its valuation in the digital health and remote patient monitoring (RPM) space. For context, its total revenue for the fiscal year 2025 reached $13.8 million, a 14.3% increase year-over-year.

Biotricity, Inc.'s Ownership Breakdown

The ownership breakdown, based on the company's fiscal year 2025 data, shows a clear majority held by the general public and a substantial stake retained by insiders. This balance is critical: a large insider stake suggests high conviction in the strategy, but a high retail percentage can sometimes lead to greater stock volatility.

Here's the quick math: Insiders hold nearly 40% of the company, which is a significant block. For example, Founder and CEO Dr. Waqaas Al-Siddiq alone directly owns about 4.69% of the total shares. That's a strong signal about his belief in the long-term trajectory.

Biotricity, Inc.'s Leadership

The company is steered by a seasoned management team with an average tenure of about eight years, providing stability in a fast-moving technology sector. The leadership is a mix of technical founders and financial veterans, which is what you want to see in a growing tech-as-a-service business.

• Dr. Waqaas Al-Siddiq: Founder, President, CEO & Chairman. He has led the company since its founding in 2014, with a focus on wireless communication technology and digital health.
• John Ayanoglou: Chief Financial Officer (CFO). He brings over 30 years of finance and operations management experience, including serving as a CFO for multiple public companies.
• Dr. Fareeha Siddiqui: Executive Vice President of Healthcare Solutions. Her background in medicine and public health is key to aligning the technology with real-world clinical needs.
• Amir Ali: Chief Development Officer (CDO). He oversees the development pipeline for new remote monitoring and diagnostic solutions.
• Matt Zabel: Vice President of Sales and Strategy. His role is critical for driving the recurring technology fee revenue, which comprised 88.7% of revenue in the second quarter of fiscal 2026.

This core team is responsible for the strategic shift toward a Technology-as-a-Service (TaaS) model, which helped them achieve their first-ever positive Adjusted EBITDA of $438,260 in the fourth quarter of fiscal year 2025.

Biotricity, Inc. (BTCY) Mission and Values

Biotricity, Inc.'s core purpose is to revolutionize chronic care management, primarily in the cardiac space, by bridging the gap between hospital-grade diagnostic tools and continuous, remote patient monitoring. This commitment to proactive, accessible healthcare is the cultural DNA driving their financial model, which saw a Q2 fiscal 2026 gross margin of 81.9%.

Given Company's Core Purpose

You're looking beyond the quarterly revenue-which hit $3.9 million in Q2 fiscal 2026-to understand what truly motivates the company. Honestly, Biotricity's core purpose is about shifting the healthcare paradigm from reactive treatment to preventative, personal care. They are a Technology-as-a-Service (TaaS) company, so their success is defintely tied to delivering a service that improves patient outcomes and reduces long-term costs.

Here's the quick math: when you can monitor a patient continuously, you enable faster interventions, which is a better outcome for the patient and a cost saving for the entire system. Biotricity has already monitored and recorded well over 2 trillion heartbeats, showing their commitment to real-world data and improved patient outcomes.

Official mission statement

The company's mission is deeply personal and focused on the patient experience, which is a key differentiator in the crowded medical device market.

• Hold an individual's hand throughout their cardiac journey.
• Deliver innovative, medically relevant biometric monitoring solutions.
• Improve patient outcomes and reduce overall healthcare costs.

The mission isn't just about selling a device; it's about providing a complete, cohesive view of an individual's health. You can see how this focus on recurring service revenue-which was 88.7% of their Q2 fiscal 2026 revenue-is directly aligned with this continuous-care mission.

Vision statement

Biotricity's vision is centered on empowerment and the future of connected medicine, leveraging technologies like predictive Artificial Intelligence (AI) and machine intelligence.

• Empower individuals with real-time health data for proactive management.
• Foster a global shift toward preventative care models.
• Integrate connected medical devices with big data and predictive AI for faster care delivery.

This vision is what drives their investment in Research and Development (R&D), which saw an increase of $84,000 in Q2 fiscal 2026, as they work to develop next-generation diagnostic technologies like the Biocore Pro 2.

Given Company slogan/tagline

The company is often associated with a focus on continuous, accessible monitoring, which distills their complex Technology-as-a-Service model into a simple, actionable benefit for the user.

• Enabling health tracking anywhere.

This simple tagline speaks directly to the need for remote patient monitoring, which is crucial when over 100 million Americans face barriers to accessing essential healthcare services. If you're interested in the financial mechanics behind this growth, you should read Breaking Down Biotricity, Inc. (BTCY) Financial Health: Key Insights for Investors.

Biotricity, Inc. (BTCY) How It Works

Biotricity, Inc. operates as a Technology-as-a-Service (TaaS) company, delivering state-of-the-art remote monitoring and diagnostic solutions, primarily for chronic cardiac conditions, to healthcare providers and consumers across the United States. They make money by charging recurring technology fees for their devices and data-driven diagnostic services, which drove $12.6 million in revenue for the fiscal year 2025.

Biotricity, Inc.'s Product/Service Portfolio

Biotricity, Inc.'s Operational Framework

You're looking for how they actually turn technology into revenue, and it all comes down to their Technology-as-a-Service (TaaS) model. It's a clean setup: they provide the hardware-like the Biocore Pro-but the real value is the subscription for the continuous monitoring and data analysis service. This is defintely a smarter model than just selling a device once.

• Subscription-First Revenue: Recurring Technology Fees accounted for $12.6 million of the total $13.8 million in FY2025 revenue, showing a stable, predictable cash flow stream that is over 10.5 times the revenue from device sales.
• AI-Driven Efficiency: They use proprietary Artificial Intelligence (AI) for workflow automation and to optimize monitoring cost structures, which is the engine behind their consistently improving gross margin.
• Clinical Data Engine: The company has monitored and recorded well over 2 trillion heartbeats, which feeds their AI platform, enhancing diagnostic accuracy and providing deeper insights for clinicians.
• Service Delivery: The process involves a physician prescribing a device, the patient wearing it, and Biotricity's monitoring center continuously collecting and analyzing the data before sending a comprehensive diagnostic report back to the physician.

This operational focus on TaaS and efficiency is why their gross margin hit a strong 81.9% in the second quarter of fiscal 2026.

Biotricity, Inc.'s Strategic Advantages

The core advantage for Biotricity isn't just the tech; it's how they've structured their business to scale efficiently and capture market share in a fragmented space. They are laser-focused on turning high-margin recurring revenue into sustainable profitability. You can read more about their long-term vision here: Mission Statement, Vision, & Core Values of Biotricity, Inc. (BTCY).

• High-Margin TaaS Model: The recurring revenue model is inherently more valuable than one-off sales, as evidenced by the Q2-FY26 gross margin of 81.9%, a significant jump from 76.6% in FY2025.
• Strategic Market Access: Partnerships with Group Purchasing Organizations (GPOs) give them access to a massive market, covering 90% of US hospitals, which is a huge distribution advantage for their Biocore Pro device.
• Path to Profitability: The company achieved its first-ever positive Adjusted EBITDA of $438,260 in Q4-FY25 and has sustained positive EBITDA for the second consecutive quarter as of Q2-FY26, demonstrating successful cost control and scalable growth.
• Expanding Clinical Footprint: They are actively expanding beyond cardiac care into adjacent, high-demand fields like sleep and pulmonology, diversifying their portfolio and total addressable market.

Here's the quick math: their FY2025 operating expenses were reduced by 24.5% year-over-year, which, combined with revenue growth, is the direct driver of their improved financial health.

Biotricity, Inc. (BTCY) How It Makes Money

Biotricity, Inc. generates the vast majority of its revenue by operating a Technology-as-a-Service (TaaS) model, providing remote patient monitoring (RPM) solutions, primarily for cardiac care. This means the company makes money from high-margin, predictable recurring subscription fees for its monitoring services, plus a smaller amount from the initial sale or lease of its FDA-cleared medical devices like the Bioflux and Biocore Pro.

You're looking at a classic software-as-a-service (SaaS) structure applied to healthcare, which is why the financials show such strong gross margins. Here's the quick math on where the money comes from, based on the most recent data through the quarter ended September 30, 2025.

Biotricity, Inc.'s Revenue Breakdown

Business Economics

The core of Biotricity's economic model is the recurring revenue from its Technology-as-a-Service subscriptions, which is a key indicator of business quality. This model insulates the company from the one-time sales volatility of pure medical device companies. For the second quarter of Fiscal Year 2026 (ended September 30, 2025), recurring technology fees accounted for $3.5 million of the company's $3.9 million in total revenue, reflecting a strong customer retention and stickiness.

The gross margin is defintely the standout metric here. It expanded to 81.9% in Q2 FY2026, up from 75.3% in the prior year period, which is a direct result of the high-margin TaaS model and operational efficiency gains from proprietary AI-driven automation. That's a powerful margin for a business that also involves physical hardware.

• Pricing Strategy: The company uses a prescription-based model where physicians prescribe the remote monitoring service (like Bioflux™ Rx), and Biotricity bills for the service, often reimbursed by Medicare or private payors.
• Customer Concentration: The focus is on cardiologists and hospital networks, with strategic partnerships covering approximately 90% of U.S. hospitals through major Group Purchasing Organizations (GPOs). This provides a clear, scalable distribution channel.
• Cost Structure: The significant margin expansion is due to leveraging AI for workflow optimization and improving cloud and monitoring cost structures, meaning new revenue scales more efficiently than new costs.

Biotricity, Inc.'s Financial Performance

Looking at the full Fiscal Year 2025 (FY2025, ended March 31, 2025) gives us a clearer picture of the company's trajectory toward profitability. Total revenue for FY2025 was $13.8 million, a 14.3% increase year-over-year. This growth, combined with aggressive cost control, is changing the financial profile quickly.

Operating expenses for FY2025 were substantially reduced by 24.5% year-over-year. This focus on efficiency led to a major milestone: the company achieved its first-ever positive Adjusted EBITDA of $438,260 in the fourth quarter of FY2025. This is a critical sign that the business model can generate cash flow. Still, the company continues to report a net loss as it invests in growth and R&D, but the net loss is shrinking dramatically. For a deeper dive into the balance sheet and cash flow, you should check out Breaking Down Biotricity, Inc. (BTCY) Financial Health: Key Insights for Investors.

• FY2025 Total Revenue: $13.8 million, reflecting a 14.3% year-over-year growth.
• FY2025 Gross Margin: Improved to 76.6%, up from 69.3% in the prior year.
• Q2 FY2026 Net Loss: Significantly improved to $0.77 million, a 53.3% improvement from the prior year quarter.
• Q2 FY2026 EBITDA: Positive at $373,000, marking the second consecutive quarter of positive EBITDA.

Biotricity, Inc. (BTCY) Market Position & Future Outlook

Biotricity, Inc. is positioned as a niche, high-margin player in the rapidly expanding remote patient monitoring (RPM) market, focusing on cardiac diagnostics through a Technology-as-a-Service (TaaS) model that drives recurring revenue. The company's immediate future hinges on converting its strong gross margins into sustainable profitability while navigating significant liquidity challenges.

Competitive Landscape

In the Ambulatory Cardiac Monitoring (ACM) segment, Biotricity competes against established medical device giants and specialized digital health leaders. While the company is growing, its revenue scale is notably smaller than the market leaders, who command the vast majority of market share through deep provider relationships and established product lines.

Opportunities & Challenges

The company's strategic roadmap for late 2025 and 2026 is centered on product innovation and commercial expansion, but it's defintely constrained by its current financial structure. The recurring revenue from its TaaS model, which contributed $12.6 million in Fiscal Year 2025, is its greatest operational strength.

Industry Position

Biotricity occupies a small, but increasingly efficient, corner of the broader remote patient monitoring (RPM) market, which is projected to grow from $48.51 billion in 2025 globally. The company's focus on a high-margin TaaS model is the right long-term play in this space.

• Margin Leader: Gross margin reached 81.9% in Q2 Fiscal Year 2026 (ended September 30, 2025), significantly higher than many competitors, due to its proprietary AI-driven automation and recurring technology fee base.
• Growth Trajectory: Full Fiscal Year 2025 revenue grew 14.3% year-over-year, with management forecasting continued revenue increase and profitability in Fiscal Year 2026.
• Strategic Niche: The company is moving beyond its core cardiac diagnostics to become a multi-parameter RPM provider, targeting new opportunities in sleep and pulmonology, which are key growth areas within the RPM market.

The core challenge is that the company must quickly scale its commercial execution to match the operational efficiencies it has already achieved. You can get a deeper look at the investors backing this strategy at Exploring Biotricity, Inc. (BTCY) Investor Profile: Who's Buying and Why?. The immediate next step for the executive team is securing non-dilutive financing to stabilize the balance sheet by the end of the calendar year.