Biotricity Inc

Good day and welcome to Biotricity's fiscal second quarter 2023 financial results conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Walter Pinto, Managing Director, KCSA Strategic Communications. Please go ahead.

Good afternoon, everyone, and welcome to Biotricity's fiscal second quarter 2023 earnings conference call. As a reminder, Biotricity's fiscal second quarter ended on September 30, 2022, so all figures presented for this period will reflect that end date. Today, we issued our fiscal second quarter 2023 financial results press release. A copy of this press release is available on the investor relations section of our website, and the full financials will be filed with the SEC on Form 10-K and 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. As 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. I'd now like to turn the call over to Biotricity's founder and CEO, Dr. Waqas Hadid. Please go ahead.

Thank you, Walter, and thank you everyone for joining today. Welcome to our fiscal second quarter 2023 earnings conference call. During the second quarter, we continue to advance our product development and commercialization strategy in order to position our company as the all-in-one go-to solution for cardiac diagnostics and disease management. Our leading revenue driver in the second quarter continued to be BioFlux, our high-precision, single-unit mobile cardiac telemetry device that provides real-time monitoring and transmission of the patient's ambulatory ECG diagnostics. We continue to grow our data set, which is comprised of billions of patients and heartbeats, allowing us to further develop our predictive capabilities relative to atrial fibrillation and other arrhythmias. Revenues earned with respect to this device are comprised of device sales and technology fee revenue, or technology as a service revenue. For the three months and six months ending September 30, 2022, our combined device sales and technology fee income totaling $2.4 million and $4.4 million represented an increase of 32% and 24% compared to the corresponding period year prior, showcasing our year-over-year growth and validating our recent strategic initiatives. Our business model continues to focus on providing our unique technology to a growing pool of physicians, hospital networks, and patients. Our potential market continues to grow in parallel with the at-risk population with a global recurrent market for AFib expected to reach $26 billion by 2027. according to immersion research. In October, we launched our BioCare Cardiac Disease Management Solution. This rollout follows two successful pilot programs that brought our technology into two facilities that provide care to over 60,000 patients combined. BioCare Cardiac is designed to expand upon BioTracy's existing remote monitoring tools that are used by today by over 2,000 physicians nationwide. This easy-to-use solution puts actual data at the physician's fingertips to assist them in making treatment decisions quickly. BioCare Cardiac combines chronic care management, remote patient monitoring, cardiac diagnostics, lifestyle management, bidirectional communication, and telemedicine to help engage and manage patients better. We've partnered with leading doctors in the cardiology space to more efficiently address the unmet need for their patients, and we intend to continue our rollout of BioCare in the upcoming quarters. This quarter, we have identified key drivers towards a path to profitability in the next 18 months, including new distribution partnerships with leading distribution networks. Our new partnerships not only build out our ecosystem with leading physicians in the space, but also provide expanded access to a large network of sales representatives. Earlier this month, we executed an agreement with one of these major distribution networks, and we intend to pursue relationships with other major distribution networks in the coming months. Earlier in 2022, we also launched BioHeart, a cardiac monitor now directly available to consumers. This device leverages our continuous heart monitoring technology, allowing patients to manage their lifestyle with long-term data on their heart activity. BioHeart changes the landscape of personal heart monitoring in just one time's best inventions of 2022. We are thrilled to continue building on our previous product offerings and new distribution networks and look forward to continued growth in the future. Additionally, in September, we were awarded an NIH grant from the National Heart, Blood, and Lung Institute for AI-enabled real-time monitoring and predictive analytics for stroke due to chronic kidney failure. This is a significant achievement that broadens our technology platform to disease-based demographic. The grant will focus on our Bioflux AI, an innovative system for real-time monitoring and prediction of stroke episodes in CKD patients. Cardiac disease is often chronic and impacts the quality of life of individuals in many ways, and it continues to grow as a leading cause of mortality globally. We expect Biotricity's differentiated approach to raise the standard of care and build a lasting relationship that carries the patient through the entire life cycle. We look forward to our future growth in our effort to alleviate key issues involved with current cardiac care today. I would now like to turn the call over to our CFO, John Iannoglou.