Welcome to our dedicated page for Butterfly Network news (Ticker: $BFLY), a resource for investors and traders seeking the latest updates and insights on Butterfly Network stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Butterfly Network's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Butterfly Network's position in the market.
Butterfly Network, Inc. (NYSE: BFLY) reported a 14% revenue growth in the first quarter of 2024, exceeding expectations. The company achieved record revenue of $17.7 million, reduced net loss by 35%, and net cash used in operations by 52%. They successfully launched the Butterfly iQ3™ and ScanLab™ training app, received EU MDR certification, and announced plans to expand into the European market. Butterfly Network's recent operational highlights include FDA clearance for the Butterfly iQ3™, EU MDR certification for the Butterfly iQ+, and the launch of ScanLab™. The company's gross profit was $10.3 million, with a gross margin of 58.2%. Operating expenses decreased by 25% to $32.9 million, resulting in a net loss of $21.8 million. Adjusted EBITDA loss was $13.2 million. Butterfly Network raised its full year guidance for 2024 to $75-80 million in revenue, with an adjusted EBITDA loss of $55-50 million.
