Biotricity Inc

Good day and welcome to Biotricity's fiscal second quarter 2022 financial results conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mike Forney. Please go ahead, sir.

Good afternoon, everyone, and welcome to Biotricity's fiscal 2022 Q2 earnings conference call. As a reminder, Biotristi's quarter ended on September 30th, 2021, so all figures presented for this period will reflect that end date. Earlier today, we issued our fiscal 2022 Q2 results press release, which highlighted a number of financial results. A copy of the press release is available on the investor relations section of our website, and the completed financials will be posted on EDGAR. Before beginning our formal remarks, I'd like to remind listeners that today's discussion may contain forward-looking statements that reflect management's current views with respect to future events. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. Biotricity does not undertake to update any forward-looking statements except as required. At this point, I'm pleased to turn the call over to Biotricity founder and CEO, Waqas Al-Siddiq. Please go ahead.

Waqas Al- Thank you, Mark. And thank you everybody for joining today. I welcome you guys to our second quarter fiscal 2022 phone call. The second quarter of our fiscal 2022, Mark, one of the most important milestones in the company's history with our uplift to the NASDAQ in August. Those of you who listened to my commentary before the opening bell, heard me describe our company in terms of a product timeline and as a journey and our vision. So I will be echoing those themes throughout today's call. Only about 50 companies uplist to NASDAQ every year, so that alone is a major achievement. The positive ramifications for bioelectricity from this event will resonate for years to come. Our journey to NASDAQ came after hard work, which we built our operation from concept to commercialization. No small feat for a small company in one of the most complex diagnostic markets in healthcare. For those of you who are new to the space, it is important to remember that cardiac disease is the number one killer in healthcare in every country in the world, and patients at cardiologist offices are typically lifelong in duration. We set out to build a complete solution that fills some of the current gaps in cardiac care, and we are well on our way to achieve that with the upcoming product releases. We began with cardiac diagnostics via our BioFlux product, which generates the majority of our sales today, but our vision is to follow individuals throughout the cardiac journey. Understanding where we are at on that journey essential to understanding why we are so excited about our future. And I would like to begin by describing our robust product pipeline. In terms of bioelectricity and what we started and what our focus was from the beginning, we felt that there was a gap in the marketplace in remote patient monitoring where patients are coming into these chronic conditions like cardiac disease and they are dealing with services and technologies in silos. And there's really no holistic view of the patient. And so at BioTricity, we built a platform and we applied that in the cardiac space. And our core product is BioFlux for the diagnostics, which is where the entry point in the journey begins. In terms of our product, it's being used by over 1,500 cardiologists across 23 states now. And our approach to delivering diagnostics is a recurring revenue model where we provide the technology to the doctors as opposed to an outsourced service, which is what the traditional approach to diagnostics was before our entry into the marketplace. And to contextualize that a little bit for all of you listeners, if a patient is walking into a cardiologist's office yesterday and they're having an issue or they have a problem, the cardiologist will give them a prescription and send them across the street. And then they get serviced by a service provider to perform the diagnostics and then they are returned back to the doctor and they get their results and the doctor will determine what is the next step in terms of their condition. In terms of our approach, we provide all the technology to the doctor so now they can prescribe and hook up the patient within the clinic. And so what this does is it cuts the number of steps for the patient it also streamlines the workflow but more importantly creates a revenue stream for the doctor and also in our approach creates a revenue stream for biotricity because we are delivering the technology as the technology as a service model so the doctor pays when they utilize the technology as opposed to making zero dollars by outsourcing it and so when we take that model and we apply that in the diagnostics we have gotten great adoption and so When you think of bioelectricity today, it's no longer a proof of concept story. It's about really an execution. So how do we successfully do what we've been doing successfully up until this time? So state that in a different way. How do we continue to sell and do what we've done in 23 states and 50 states? And that is what our next year and next two years is about, is about executing and continuing to do successfully what we've already done. On top of that is to layer on this idea of vertical growth which is execute on our product roadmap and follow this patient through that cardiac journey so let's dive and contextualize that as well what happens to a patient so patient walks in they're complaining of something they go on to diagnostics that's bioflux once they've been diagnosed they come back to the doctor and the doctor does a procedural intervention so you know pacemaker install ablation some sort of interventional procedure or the prescribe a therapeutic for the patient to take that will you know deal with their cardiac issues and help control them and now this patient goes into disease management and so they're in and out of this doctor's office every three months every six months for follow-up and checkups and if something is going outside of range then they go back to Diagnostics so Diagnostics becomes this tool you know, that's used once or twice a year on a patient. It's not used every month. It's not used on a regular basis. Once they've been diagnosed, the majority of the care that is delivered is really around disease management. And this is where we've provided a portfolio. We built a portfolio. that we are executing on, which is designed to track these patients through that entire cardiac journey. So you get diagnosed. The next step is how do you manage that patient? And that's about disease management. And disease management is enabling these individuals with devices that they can have at their home. Just as a diabetic has a glucometer, cardiac patients need tools to track their blood pressure, their medication, their sleep, their heart statistics, and engage with the physicians remotely through telemedicine And all of that is reimbursable. And again, our business model at BioTricity, like we've done at BioFlux, is going to be the same with all of these solutions, is to deliver the technologies to the doctor in one ecosystem. They deliver to the patient. They bill insurance. They collect the revenue stream based on usage. And we collect the revenue stream on usage. And this creates this idea of vertical growth. So we are selling into the existing ecosystem. ecosystem that we have, the existing cardiology customers that we have. So whereas up until today, we've been going around and we've been opening up new clinics and new states successfully with one core product, which is our diagnostics. Tomorrow, we will continue to do that, but with a suite of products. And the idea for us at Biotricity is to accelerate our growth and get better traction. What's also exciting for us is that with every product, we're doing two things. we are supporting our BioFlux and our diagnostic business because this is supplementary and enhancing because now we have a better view of the patient and if we see something in disease management, we can connect it back to saying and recommending to the physician that, hey, perhaps you need to look at diagnostics again to see what has changed so we can support the diagnostic program. But more importantly, we're also increasing our total addressable market. So today, Biotricity, we have one product we have a total addressable market of a billion dollars. Tomorrow, as we deliver disease management and telemedicine and cardiac management as an ecosystem, the total addressable market goes from a billion dollars to $30 billion and then to $50 billion. So the idea for us as a company is to create this vertical growth strategy through executing of a product portfolio to track these patients through their cardiac journey sold directly into the existing clinics whilst increasing this total addressable market. And so we're very excited about that, and that is our plan. And so over the next 12 to 18 months, we will have announcements around our execution on this product portfolio. We have already talked about and did a press release back in September 14th about our upcoming bio kit, which we expect is a product launch early next year. And that product is a suite of medical devices that connect into our ecosystem that allow tracking of a patient. And, you know, that tool now becomes a tool that is given to every patient that supplements diagnostics as opposed to a tool that they're only on once in a while or once a year. It's a personalized toolkit. And all of that is reimbursable. So that is what we are really excited about. And I think that over the next year and the next 18 months, as investors track, there are two things to look out for, right? Which is what I talked about earlier, this idea of continuing to execute what we've already been doing, right? Successfully expand from 23 states to 50 states in the United States, continuing to do what we've done up until now successfully. And that is And not to oversimplify, and that is something that we understand, we know how to do, and we know how to deliver on that as we have shown for 10 consecutive quarters of growth. Layered on top of that is this execution of a product portfolio for vertical growth. And as investors are watching this horizontal approach of expansion, they can then see the vertical growth which will come in as we execute on these product portfolios. We're very excited about where we are going, about executing our vision, about all of these things coming together into one ecosystem to drive a larger market opportunity for bioelectricity and accelerate our growth. And with that, I'm going to turn it over to my CFO.