Core Insights - The article highlights two stocks that have seen significant insider buying, indicating strong confidence from company executives in their future performance [2][6]. Group 1: Bill.com Holdings (BILL) - Bill.com Holdings is a cloud accounting and paperwork software provider for small- and medium-sized businesses, with its stock currently priced at $54.69, reflecting a 3.68% gain on the day, a 2.53% increase over the week, and a 23.18% rise in the past month [3][6]. - Recent insider purchases include CFO John Retting buying 21,124 shares for $1.04 million, Board member Brian Jacobs acquiring 25,000 shares for $1.34 million, and CEO Rene Lacerte purchasing 42,248 shares for $2.1 million [3][6]. Group 2: Butterfly Network (BFLY) - Butterfly Network focuses on democratizing medical imaging with its portable Ultrasound-on-Chip technology, currently trading at $1.51, which is up 26.89% on the day, 56.27% for the week, and 49.50% for the month [4][5]. - Larry Robbins, a Board member, recently bought 1,676,869 shares for over $1.68 million, demonstrating strong conviction in the company's future prospects [5][6].

Butterfly Network, Inc. (NYSE:BFLY) Q2 2024 Earnings Conference Call August 1, 2024 5:00 PM ET Company Participants Heather Getz - Chief Financial and Operations Officer Joseph DeVivo - Chairman and CEO Conference Call Participants Josh Jennings - TD Cowen Suraj Kalia - Oppenheimer & Co. Operator Good evening. Thank you for attending the Butterfly Network Second Quarter 2024 Earnings Call. My name is Megan, and I'll be your moderator today. All lines will be muted during the presentation portion of the call ...

Butterfly Network, Inc. (BFLY) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.14 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this company would post a loss of $0.12 per share when it actually produced a loss of $0.07, delivering a surprise of 41.67%. Over the last four quarters, the company has s ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ 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 Butterfly Network, Inc. (Exact name of registrant as specified in its charter) Delaware 84-4618156 (Stat ...

Exhibit 99.1 Butterfly Network Reports Second Quarter 2024 Financial Results Reports Record Quarterly Revenue Raises Full Year Adjusted EBITDA Guidance ● Delivered record quarterly Revenue of $21.5 million in Q2, representing 16% YoY growth ● Reduced Q2 Net Loss by 45% and Net Cash Used in Operations by 62% ● Successfully launched medical school Campus Essentials program ● Launched iQ3 in Canada and expanded into new markets in Southeast Asia ● Filed for revocation of the RoHS handheld piezoelectric crystal ...

UltraSight and Butterfly have partnered to increase patient access to cardiac care by enabling more healthcare professionals to perform cardiac ultrasound. Subject to regulatory approvals and authorizations, UltraSight aims to integrate and deploy its real-time AI guidance software on Butterfly's imaging platform and build the software for use with Butterfly's single-probe, whole-body handheld ultrasound system. "Joining the Butterfly Garden marks an important moment in our mission to revolutionize cardiac ...

The stock has declined 3.7% year to date compared with the industry's 16.6% decline. The S&P 500 Index has increased 10.3% in the same period. The launch of the iQ+ Bladder represents a strategic move for Butterfly Network, expanding its market reach and solidifying its position as a leader in portable ultrasound technology. By entering the bladder scanning market, Butterfly has demonstrated its ability to adapt to evolving healthcare needs and diversify its product offerings. This expansion is likely to ha ...

The medical info systems industry is thriving due to the growing demand for contactless services. The industry witnessed exponential growth during the pandemic era. Even in the post-pandemic period, remote healthcare, a paperless environment and distant treatment paved the way for digital services.The medical info systems industry comprises companies that develop and market healthcare information systems. These companies offer software and hardware solutions to healthcare providers with secure access to rea ...

Financial Data and Key Metrics - Revenue growth of 14% in Q1 2024, exceeding expectations, with full-year revenue guidance raised to $75-80 million, representing 15-20% growth [5][24] - Gross profit increased by 12% to $10.2 million in Q1 2024, with gross margin remaining relatively flat at 58% [18] - Adjusted EBITDA loss improved by $9.1 million to $13.2 million in Q1 2024, driven by higher revenue and cost reductions [23] - Cash and cash equivalents stood at $117 million as of March 31, 2024, with a cash runway extending into 2026 [16][138] Business Line Performance - Product revenue increased by 28% to $11.3 million in Q1 2024, driven by higher volume and average selling prices [142] - Software and services revenue decreased slightly to $6.4 million in Q1 2024, but enterprise software upsells grew 25% from Q4 2023 [11][12] - ScanLab contributed significantly to Q1 success, enhancing medical education and training with AI-guided tools [13][141] Market Performance - U.S. sales grew 19% to $12.2 million in Q1 2024, driven by increased volume and higher average selling prices [15] - International sales grew 14% to $4.2 million in Q1 2024, despite the absence of iQ3 and EU MDR certification [51] - iQ3 launch in the U.S. saw over 1,200 units sold, with half being new users and half trade-in upgrades [37] Strategic Direction and Industry Competition - The company is focusing on iQ3-driven growth, global expansion, and medical school adoption, with additional opportunities in the veterinary market [6][130] - iQ3 is positioned as a competitive product with superior image quality and cost advantages compared to cart-based systems [38][60] - The company is exploring non-dilutive financing options, such as grants and licensing deals, to extend its cash runway [2][45] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth, driven by iQ3 adoption and new product launches [52][134] - The company is optimistic about the European market, with iQ3 expected to gain approval and potentially benefit from the RoHS directive [22][29] - Management highlighted the potential of home care initiatives, with revenue opportunities expected to materialize in 2025 [75][102] Other Important Information - The company received a non-compliance notice from the NYSE due to its stock price falling below $1, but it plans to regain compliance through business execution [16][133] - Butterfly Garden and Powered by Butterfly programs are expected to generate meaningful revenue over the next five years [87][127] Q&A Session Summary Question: Adoption curve of iQ3 compared to previous products - The adoption curve for iQ3 is difficult to compare directly with previous products due to different market conditions and the simultaneous presence of iQ+ [66][73] Question: Revenue potential from home care initiatives - The company is focusing on service revenue and success-based models for home care, with potential revenue streams starting in 2025 [26][27] Question: Non-dilutive financing and path to profitability - The company is exploring non-dilutive financing options, such as licensing deals, to extend its cash runway and reach profitability by 2027 [101][131] Question: Key areas of uptake for iQ3 - Cardiology has shown strong uptake for iQ3, with cardiologists appreciating the high-quality imaging capabilities [106] Question: RoHS directive and its impact - The company is confident about the RoHS directive potentially banning lead-based handheld ultrasound devices in the EU by 2025, which would benefit Butterfly [29][109] Question: Revenue capture potential with Compass software - Hospitals using Butterfly probes and Compass software have seen significant revenue capture, with some achieving 60-80% reimbursement rates [96][120]

Critical Accounting Policies and Significant Judgments and Estimates The Company did not identify any significant recently issued accounting pronouncements that may potentially impact our financial position and results of operations. 23 Foreign Exchange Risk Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and pro ...