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A Look at BioTelemetry’s Financial Performance

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Mar. 6 2018, Updated 2:27 p.m. ET

Revenue trend

In fiscal 2017, BioTelemetry (BEAT) generated total revenues of $286.7 million. Its healthcare segment was the biggest contributor to revenues at $234.3 million, followed by the research segment, which contributed $38.7 million. In fiscal 2016, BioTelemetry generated total revenues of $208.3 million.

The total cost of BioTelemetry’s revenues in fiscal 2017 was $114.4 million compared with $78.8 million in fiscal 2016. The increase was mainly due to an increase in the cost of revenues for the healthcare segment, which increased from $53.5 million in fiscal 2016 to $81.3 million in fiscal 2017.

The company’s gross profit increased from $129.4 million in fiscal 2016 to $172.3 million in fiscal 2017.

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Operating expenses

BioTelemetry’s general and administrative expenses increased from $55.8 million in fiscal 2016 to $82.9 million in fiscal 2017. Sales and marketing expenses increased from $28.6 million in fiscal 2016 to $35.3 million in fiscal 2017.

Research and development expenses increased from $8.3 million in fiscal 2016 to $11.1 million in fiscal 2017. Consequently, its total operating expenses increased from $111.4 million in fiscal 2016 to $174.1 million in fiscal 2017.

The bottom line

BioTelemetry’s interest expenses in fiscal 2017 were $4.8 million compared with $1.8 million in fiscal 2016. In fiscal 2016, the company saw tax benefits of $37.6 million, while in fiscal 2017, it had to make tax provisions of $10.3 million.

Consequently, BioTelemetry reported a net loss of $15.9 million in fiscal 2017 compared with net income of $53.4 million in fiscal 2016. That translated to a net loss per share of $0.53 in fiscal 2017 compared with $1.75 in fiscal 2016.

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