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.
Butterfly Network, Inc. (NYSE: BFLY) is a healthcare and digital health company focused on portable, semiconductor-based ultrasound technology and ultrasound software solutions. The Butterfly Network news feed on Stock Titan highlights company announcements that relate to its handheld ultrasound devices, Ultrasound-on-Chip™ semiconductor platform, enterprise software and AI initiatives.
Investors and healthcare professionals following BFLY news will see updates on financial results and guidance, such as quarterly earnings releases and preliminary revenue expectations furnished through press releases and 8-K filings. These items often include commentary on revenue growth, cash usage, chip development milestones and the progress of enterprise offerings like Compass™ and Compass AI™.
News coverage also features product and platform developments, including launches of new software capabilities such as Compass AI, announcements about AI-enabled clinical tools like Auto B-line Counter or a Gestational Age AI tool, and information about developer-focused initiatives like Butterfly Garden™ and the planned Beam Steering API. These stories provide insight into how Butterfly is expanding its imaging platform and exposing core capabilities to partners and developers.
Another recurring theme in Butterfly Network news is global health and clinical impact. Press releases describe programs in Sub-Saharan Africa involving handheld probes, training and AI tools for obstetric ultrasound, as well as clinical publications that examine how Butterfly’s devices and software can affect workflows, costs and provider economics in hospital systems.
In addition, the BFLY news stream includes capital markets and corporate updates, such as participation in healthcare investor conferences, executive appointments and SEC-reported events like the NYSE’s decision to delist Butterfly’s public warrants while leaving the common stock listing under BFLY unchanged. For readers tracking Butterfly Network, this page offers a consolidated view of operational, financial, technological and regulatory developments as they are publicly disclosed.
Butterfly Network announced the appointments of Tamara Dillon as Chief People Officer and Larry Weiss as Chief Legal Officer. Dillon, previously at Akebia Therapeutics, brings extensive HR experience, while Weiss has nearly 30 years in legal roles, including at Medtronic. Both leaders aim to support the company’s growth and mission to democratize healthcare and improve medical imaging access globally. These hires are intended to strengthen the company's foundation as it continues to innovate and expand in the digital health sector.
Butterfly Network (NYSE: BFLY) reported a 25.2% revenue growth in Q1 2022, totaling $15.6 million, up from $12.4 million in Q1 2021. Product revenue rose 14.8% to $11.0 million, while subscription revenue surged 60.1% to $4.6 million. Gross profit increased to $8.3 million, with a gross margin of 53.6%. Despite revenue growth, the company faced a net loss of $44.5 million, compared to a net loss of $0.7 million in the previous year. Operating expenses decreased by 3.8% to $57.9 million. Cash and equivalents stand at $359.9 million.
Petco, a pet health and wellness company, has partnered with Butterfly Network, a digital health innovator, to enhance veterinary care by deploying the Butterfly iQ+ Vet ultrasound technology across Petco's nearly 200 veterinary hospitals. This collaboration aims to provide veterinarians with advanced imaging capabilities, improving diagnostic speed and health outcomes for pets. The partnership highlights the increasing access to high-quality ultrasound in veterinary practices, supporting innovative care solutions.
Tesseract Health has appointed Michael McConnell, MD, MSEE, as Head of Cardiovascular and Digital Health, strengthening its leadership under CEO Vicky Demas. Dr. McConnell brings expertise from Google Health and aims to guide the development of cardiovascular health products using Tesseract's non-invasive technology. The company is focused on democratizing health screening and aims to innovate ocular health diagnostics. Tesseract is part of 4Catalyzer, which includes companies like Butterfly Network (NYSE: BFLY), Quantum-Si (NASDAQ: QSI), and Hyperfine (NASDAQ: HYPR).
Butterfly Network (NYSE: BFLY) announced the appointment of Heather Getz as Executive Vice President and Chief Financial Officer, effective May 2. With over 25 years of experience in healthcare technology and public company operations, Getz previously served as CFO at BioTelemetry, Inc., where she significantly increased market capitalization. Dr. Todd Fruchterman, President and CEO, highlighted her exceptional record in driving operational excellence and profitability. Getz expressed enthusiasm for her role in furthering Butterfly's mission to enhance ultrasound accessibility globally.
Butterfly Network, Inc. (NYSE: BFLY) announced its significant findings from a study published in NEJM Evidence, demonstrating the potential of its handheld ultrasound technology to democratize obstetric care. The study, conducted from September 2018 to June 2021, involved 4,695 pregnant participants in North Carolina and Zambia. Results showed that untrained midwives could accurately assess gestational age using the Butterfly iQ probe, equating their performance to certified sonographers. Backed by the Bill and Melinda Gates Foundation, this initiative aims to enhance ultrasound access in low-resource settings.
Butterfly Network, Inc. (NYSE: BFLY) will announce its first quarter 2022 financial results on May 5, 2022, before market opening. Dr. Todd Fruchterman, the CEO, will lead a conference call and webcast at 8:30 AM ET on the same day to discuss financial performance and operational updates. The event will be accessible via the company's website. Butterfly is known for its innovative handheld ultrasound technology aimed at improving global health access, leveraging its Ultrasound-on-Chip™ technology.
FUJIFILM Sonosite has filed a patent infringement lawsuit against Butterfly Network (BFLY) in Delaware, claiming infringement of seven patents related to point-of-care ultrasound technology. The patents cover critical aspects of ultrasound imaging, including the use of mobile devices and graphical interface elements. FUJIFILM Sonosite seeks damages for Butterfly's alleged unauthorized use and sale of its IQ/IQ+ products. Rich Fabian, COO, emphasized the company's commitment to protecting its significant R&D investments and intellectual property rights in the U.S. and worldwide.
Butterfly Network (NYSE: BFLY) received a $5 million grant from the Bill & Melinda Gates Foundation to enhance maternal and fetal health in Sub-Saharan Africa. The funding aims to provide 1,000 healthcare workers with Butterfly iQ+ ultrasound probes, distributing 500 each in Kenya and South Africa. This initiative targets improving access to medical imaging in resource-limited settings, addressing high pregnancy-related morbidity and mortality. The company plans to document best practices for ultrasound use and develop new health capabilities in its mobile application.
Butterfly Network reported significant financial growth with 2021 revenue reaching $62.6 million, marking a 35.3% increase over 2020.
Fourth-quarter revenue rose 21.3% to $19.0 million, driven by a 15.1% increase in product revenue. However, operating expenses surged 71.0% to $52.8 million, leading to a net loss of $15.2 million for Q4.
For 2022, the company projects revenue growth of 33% to 41%, expecting a net loss between $225 million and $245 million.