Butterfly Network, Inc. (BFLY) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 33.33%. A quarter ago, it was expected that this company would post a loss of $0.10 per share when it actually produced a loss of $0.08, delivering a surprise of 20%.Over the last four quarters, the company has sur ...

Butterfly Network Q1 2025 Earnings Call May 2, 2025 Forward Looking Statements Certain statements in this presentation include "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Our actual results may differ from our expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," ...

Butterfly Network (BFLY) Q1 2025 Earnings Call May 02, 2025 08:00 AM ET Speaker0 Good morning, and welcome to the Butterfly Network First Quarter twenty twenty five Earnings Call. My name is Carla, and I will be coordinating your call today. During the presentation, you can register to ask questions by pressing star followed by one on your telephone keypad. I would now like to hand you over to the Chief Financial Officer, Heather Gatz, to begin. Heather, please go ahead when you're ready. Speaker1 Good morn ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________ FORM 10-Q ____________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to Commission File Number: 001-39292 __ ...

Three Months Ended March 31, 2025 Financial Results Exhibit 99.1 Butterfly Network Reports First Quarter 2025 Financial Results Delivered on Quarterly Revenue and EBITDA Guidance BURLINGTON, Mass. & NEW YORK--(BUSINESS WIRE) -- Butterfly Network, Inc. (NYSE: BFLY) ("Butterfly" or the "Company"), a digital health company transforming care with portable, semiconductor-based ultrasound technology and intuitive software, today announced financial results for the first quarter ended March 31, 2025, and provided ...

Healthcare IT spending is increasing each day, with Bain & Company’s survey claiming that 75% of healthcare providers are rapidly boosting their investment in artificial intelligence (AI), cybersecurity and other IT areas. What initially began as a temporary response during the pandemic has now transformed into a defining characteristic of next-generation healthcare, fueled by the rapid integration of generative AI technologies.With spending in this sector projected to witness a CAGR of 15.4% from 2024 to 2 ...

Core Viewpoint - Butterfly Network, Inc. (BFLY) has experienced significant selling pressure, resulting in a 34.5% decline in stock price over the past four weeks, but analysts anticipate better earnings than previously predicted, indicating potential for recovery [1]. Group 1: Technical Analysis - The stock is currently in oversold territory, with a Relative Strength Index (RSI) reading of 29.36, suggesting a possible trend reversal [5]. - RSI is a momentum oscillator that helps identify whether a stock is overbought or oversold, with readings below 30 typically indicating an oversold condition [2][3]. Group 2: Fundamental Analysis - Analysts have raised earnings estimates for BFLY by 4.6% over the last 30 days, which is a positive sign for potential price appreciation [6]. - BFLY holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the outlook for a turnaround [7].

NEW YORK, March 25, 2025 /PRNewswire/ -- Kuehn Law, PLLC, a shareholder litigation law firm, is investigating whether certain officers and directors of Butterfly Network, Inc. (NYSE: BFLY) breached their fiduciary duties to shareholders.  According to a federal securities lawsuit, Insiders at Butterfly Network caused the company to misrepresent or fail to disclose that (i) Butterfly had overstated its post-Merger business and financial prospects; (ii) notwithstanding the ongoing COVID-19 pandemic, Butterfly ...

Financial Data and Key Metrics Changes - In 2024, Butterfly Network reported revenue of $82.1 million, representing a 25% increase year-over-year, while adjusted EBITDA loss improved by 42% to $38.9 million [9][43][49] - The fourth quarter of 2024 saw revenue of $22.4 million, the highest quarterly result in the company's history, marking a 35% increase compared to the prior year [38][39] - Gross profit for Q4 2024 was $13.7 million, a 45% increase from the prior year, with gross profit margin rising to 61% from 57% [42] Business Line Data and Key Metrics Changes - Product revenue in Q4 2024 was $14.7 million, up 45% year-over-year, driven by higher average selling prices and volume [40] - Software and other services revenue reached $7.6 million in Q4 2024, a 20% increase compared to the prior year, although the mix decreased by approximately four percentage points [40] Market Data and Key Metrics Changes - U.S. revenue in Q4 2024 was $14.5 million, a 32% increase year-over-year, while international revenue increased by 19% to $5.5 million [39] - The launch of the iQ3 device accounted for 50% of overall sales in units and 58% of probe revenue in 2024 [13] Company Strategy and Development Direction - Butterfly Network aims to expand its digital ecosystem and enhance accessibility to ultrasound technology, targeting a vision where every healthcare provider has a personal imaging device [10][11] - The company is focusing on scaling its core POCUS business and expanding into new markets, including home care and veterinary applications [22][23][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a revenue target of $96 million to $100 million for 2025, representing approximately 20% growth, while maintaining fiscal discipline [49] - The company is optimistic about the potential of its HomeCare and Octiv businesses, which are expected to contribute significantly to future revenue [66][68] Other Important Information - Butterfly Network raised $81.7 million from a follow-on offering in January 2025, providing a bridge to cash flow independence [48] - The company has signed 21 partners in its Butterfly Garden initiative, with six expected to go commercial in 2025 [24] Q&A Session Summary Question: Update on confidence level for $500 million revenue target - Management is bullish about growth initiatives and believes they are on track to achieve the long-term revenue target [62][64] Question: Steps required to transition HomeCare from pilot to revenue - The transition involves training on-site personnel and utilizing telemedicine for scalability, with a 90-day process for training [75][79] Question: Update on wearable technology development - The wearable is in development, with a focus on building market demand before launching the product [88][90] Question: Details on HomeCare pilot and patient involvement - 18 nurses were trained across two facilities, with a pilot designed for 200 patients, and no readmissions reported so far [92][95] Question: Hardware developments and iQ station update - The company is actively working on next-generation hardware and the iQ station, which will expand into the lower-end cart business [97][100]

Financial Performance - Total revenue for the years ended December 31, 2024, and 2023 was $82.1 million and $65.9 million, respectively, representing a year-over-year increase of approximately 24.5%[24] - Net losses for the same periods were $72.5 million in 2024 and $133.7 million in 2023, indicating a reduction in losses of approximately 45.7%[24] - The company incurred net losses of $168.7 million, $133.7 million, and $72.5 million for the years ended December 31, 2022, 2023, and 2024, respectively, with an accumulated deficit of $802.1 million as of December 31, 2024[126] - Approximately 23%, 21%, and 30% of the company's total revenue was generated from international customers for the years ended December 31, 2024, 2023, and 2022, respectively[137] - The company anticipates continuing to incur significant losses for at least the next several years as it seeks to commercialize existing products and develop new offerings[124] Product Development and Market Strategy - The Butterfly iQ3 device, launched in February 2024, has shown impressive market uptake, contributing to increased penetration in the healthcare market[37] - Butterfly's Ultrasound-on-Chip™ technology allows for whole-body imaging on a single handheld probe, with the Butterfly iQ+ priced at approximately $2,700 and the iQ3 at approximately $3,900, making them competitive in the market[45] - The company estimates a potential new market exceeding $100 billion, targeting over 40 million healthcare practitioners globally[36] - The Butterfly HomeCare Services Business was introduced in March 2024, aiming to support chronic condition management outside of hospitals[41] - The company has launched three products: Butterfly iQ in 2018, Butterfly iQ+ in 2020, and Butterfly iQ3 in 2024, focusing on ultrasound imaging solutions[126] Market Penetration and Adoption - The company has over 145,000 unique Butterfly users to date, reflecting significant adoption of its technology[44] - Butterfly's devices are currently utilized in over 30 countries and in over 70 low-resource settings worldwide[25] - The company has sold devices to most of the largest 100 U.S. healthcare systems, indicating strong market penetration[69] - Butterfly has distributed thousands of devices in conflict zones like Ukraine, Gaza, and Israel through over 40 global health partnerships, supporting frontline medics[40] Technology and Innovation - The company is focused on leveraging AI integration to enhance ease of use and accelerate the adoption of handheld ultrasound technology[34] - Butterfly's semiconductor technology allows for whole-body scans, differentiating it from competitors relying on traditional piezoelectric crystals[77] - The company plans to enhance its software capabilities and develop new applications leveraging AI for improved clinical procedures[70] - The Auto B-Line Counter, launched in 2023, has been validated for use in cattle, potentially reducing antibiotic use in livestock[61] Regulatory and Compliance Challenges - The company is subject to extensive regulatory requirements from the FDA and other agencies for its medical devices, classified as Class II devices[105] - Regulatory compliance is critical, with the company needing to maintain marketing authorization for its products across various jurisdictions, which may have different requirements[115] - The company must comply with U.S. federal healthcare laws related to reimbursement claims submitted by customers using its products[111] - The company is subject to extensive government regulation, which could restrict the development, marketing, sale, and distribution of its products, potentially incurring significant costs[172] Supply Chain and Manufacturing - Butterfly devices are manufactured using custom-made components, including a key ultrasound transducer module produced in Taiwan and assembled in Thailand[82] - The company maintains significant inventory of critical components to mitigate supply chain risks associated with single-source suppliers[83] - The company relies on a single supplier, TSMC, for semiconductor components, which poses risks if TSMC fails to meet obligations[146] - The company has entered into a Foundry Service Agreement with TSMC, committing to minimum purchase volumes that could adversely affect cash flows[147] Intellectual Property and Licensing - As of February 13, 2025, Butterfly owns approximately 620 issued patents and pending patent applications, with expiration dates ranging from 2030 to 2045[96] - The company licenses wafer bonding technology for ultrasound applications from Stanford on a non-exclusive basis, which is critical for product sales[206] - The company has licensed parts of its Ultrasound on a Chip™ technology to Forest Neurotech in 2023, indicating ongoing strategic licensing efforts[209] - The company faces potential disputes over intellectual property rights, which could impact its ability to develop and commercialize products[213] Employee and Organizational Structure - As of January 31, 2025, Butterfly employed approximately 190 people, with 165 located in the United States[79] - Butterfly offers a competitive total rewards package including market-competitive base salaries, annual target cash bonuses, and long-term equity incentives[80] - Employees receive 100% coverage for medical, dental, and vision insurance, along with an employer-funded health savings account[81] Risks and Challenges - The company faces competition from established manufacturers of traditional ultrasound devices, which may impact its market acceptance and revenue generation[132] - The healthcare market is characterized by rapid technological evolution and intense competition, which may further disrupt the industry[163] - Unfavorable global economic conditions, including inflation and interest rates, could weaken demand for the company's products and impact its ability to raise capital[167] - The company faces risks related to compliance with the Foreign Corrupt Practices Act (FCPA) and other anti-bribery laws, which could result in significant penalties and operational disruptions[170]