Butterfly Network Inc Stock Price, News & Analysis

Butterfly Network has partnered with Ambra Health to enhance interoperability for bedside imaging data, crucial for improving clinical decision-making in healthcare systems. This collaboration aims to integrate Butterfly's Blueprint platform with Ambra's imaging management solutions, allowing for rapid access to ultrasound information across hospitals. Notably, research indicates that point-of-care ultrasonography can significantly improve diagnostic accuracy and reduce costs. The integrated solution is set for commercial launch in Q1 2022.

Butterfly Network, Inc. (NYSE: BFLY) announced preliminary, unaudited revenue results for Q4 and full year 2021. Q4 revenue is expected to be between $17.9 million and $18.9 million, marking a 14% to 21% increase year-over-year. For the entire year, revenue is projected at $61.5 million to $62.5 million, up 33% to 35% compared to 2020. The company highlighted a significant deployment collaboration with the University of Rochester Medical Center. These preliminary figures are subject to revisions pending full financial review.

Butterfly Network, Inc. (NYSE: BFLY) partners with the University of Rochester Medical Center (URMC) to implement the Butterfly Blueprint™, advancing point-of-care ultrasound technology in New York. This collaboration aims to enhance patient care and medical education by utilizing AI-powered ultrasound systems. The rollout is expected to start in summer, targeting medical students and primary care providers. Validated studies suggest that this technology improves diagnostic accuracy and reduces imaging costs, with significant changes in diagnosis and care management for nearly 50% of patients.

Butterfly Network, Inc. (NYSE: BFLY) will participate in the 40th Annual J.P. Morgan Healthcare Conference virtually from January 10-13, 2022. Dr. Todd Fruchterman, the President and CEO, will present on January 11, 2022, at 2:15 PM ET. A live webcast and archived recording will be accessible on the Butterfly investor website. Butterfly Network, founded in 2011, is known for its innovative handheld ultrasound technology aimed at improving global health equity, providing ultrasound access to 4.7 billion people worldwide.

Detect, Inc. has launched its FDA-authorized PCR-quality at-home Covid-19 test for consumer purchase at $49. This rapid test is at least 50 times more sensitive than leading antigen tests, delivering results in one hour, with an accuracy agreement of 97.3% against highly sensitive PCR tests. The company appointed consumer tech veteran Hugo Barra as CEO to enhance its growth. Detect also offers a telehealth service for certified results at $20. They have raised $110M in funding and received an $8.1M contract from the NIH to scale manufacturing.

Butterfly Network (BFLY) reported third quarter 2021 revenue of $14.6 million, up 44.3% year-over-year. Product revenue increased 25.8% to $10.8 million, while subscription revenue surged 149.2% to $3.8 million. Despite these gains, the gross profit was negative $5.1 million, with a gross margin of negative 35%. Operating expenses rose 129.7% to $51.9 million, contributing to a net loss of approximately $13.6 million. For 2021, Butterfly expects revenue between $60 million to $62 million and a net loss of $(65) million to $(75) million.

Butterfly Network (NYSE: BFLY) has announced a strategic partnership with Abdul Latif Jameel Health to distribute the Butterfly iQ+ device, the world’s only handheld, single-probe ultrasound system. This innovative device aims to improve access to medical imaging for over 4.7 billion people globally, particularly in underserved communities. The iQ+ is expected to cost under $2,400 and will enable healthcare providers to perform assessments and share images seamlessly worldwide. The partnership will initially target markets in the Middle East, North Africa, Turkey, and India.

Caption Health and Ultromics have announced a strategic partnership aimed at enhancing cardiovascular disease detection through AI technology. The collaboration integrates Caption AI™ software with Ultromics' EchoGo® analytics, enabling a wider range of healthcare providers to perform crucial heart ultrasounds and improve diagnostic capabilities. This partnership seeks to address the global shortage of specialists in cardiac care, which has led to numerous preventable deaths. Enhanced diagnostic tools are expected to be available on the Butterfly iQ+ platform in the near future.

Detect, Inc. announces that its PCR-quality at-home Covid-19 Test has received Emergency Use Authorization from the U.S. FDA. The test provides results in one hour, making it ideal for home, school, and workplace use. With an overall agreement of 97.3%, a sensitivity of 90.9%, and 100% specificity, it is among the most accurate home tests available. Priced under $50, it stands as the lowest-cost molecular test on the market. The test is designed to detect all current variants of concern and is supported by an $8.1 million NIH contract to scale up manufacturing.