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) pioneers accessible medical imaging solutions through its revolutionary Ultrasound-on-Chip™ technology. This dedicated news hub provides investors and healthcare professionals with essential updates on product innovations, financial developments, and strategic initiatives driving the future of point-of-care diagnostics.
Discover official press releases covering earnings announcements, regulatory milestones, and partnerships advancing AI-powered ultrasound technology. Our curated collection ensures timely access to verified information about BFLY's handheld imaging systems, educational programs, and market expansion efforts.
Key updates include product launch details, clinical validation studies, and executive leadership changes. Bookmark this page to monitor how Butterfly Network's cloud-connected devices and ScanLab™ training tools continue transforming medical imaging accessibility worldwide.
Butterfly Network, Inc. (NYSE: BFLY) reported financial results for Q1 2021, achieving $12.4 million in revenue, a 43.5% increase from Q1 2020. The gross profit was $6.4 million with a gross margin of 51.6%. Operating expenses rose to $60.2 million, a 154.1% increase year-over-year, leading to a net loss of $0.7 million, down from $24.4 million in 2020. The company forecasts 2021 revenue of $76 million to $80 million, projecting 64% to 73% growth year-over-year, while expecting a net loss of $135 million to $155 million.
Butterfly Network (NYSE: BFLY) will announce its first quarter 2021 financial results on May 13, 2021, prior to market opening. CEO Todd Fruchterman and CFO Stephanie Fielding will hold a conference call at 8:30 a.m. ET on the same day to discuss the results and operational updates. The call will be available as a live webcast, and a replay will be accessible until May 20, 2021. Butterfly Network aims to democratize medical imaging and enhance global health equity through its innovative handheld ultrasound technology, the Butterfly iQ+.
Butterfly Network (NYSE: BFLY) has appointed Timothy Trodden as Senior Vice President and Chief Human Resources Officer, effective April 19. In this new role, Trodden will lead the company's people strategy, focusing on talent acquisition, cultural development, and enhancing HR practices to align with business growth. Dr. Todd Fruchterman, President and CEO, emphasized the importance of investing in talent as crucial for Butterfly's success. Trodden brings extensive experience from WellCare Health Plans and Johnson & Johnson, where he focused on talent strategy and diversity initiatives.
Butterfly Network (BFLY) reported a 68% revenue increase for 2020, reaching $46.3 million from $27.6 million in 2019. The company saw a 53% rise in product revenue, totaling $38.4 million. Subscription revenues surged 216% to $7.9 million. However, net losses widened to ($162.7 million), compared to ($99.7 million) in 2019. The company attributes growth to the launch of its next-gen probe, the iQ+, and increased sales efforts. Cash reserves stood at $60.2 million as of December 31, 2020, laying a foundation for future growth.
Butterfly Network, Inc. (NYSE: BFLY) will announce its full year 2020 financial results on March 29, 2021, following market close. A conference call to discuss the results and provide a corporate update is scheduled for 4:30 p.m. EDT on the same day. Investors can access the call via a webcast on the company's investor relations website or by phone with the provided conference ID. Founded by Dr. Jonathan Rothberg, Butterfly aims to democratize medical imaging with its innovative handheld ultrasound technology, Butterfly iQ, catering to global health equity.
Butterfly Network, Inc. (NYSE: BFLY) announced the appointment of Stacey Pugh as Chief Commercial Officer, effective March 15, 2021. Pugh, with extensive experience in medical technology, will develop Butterfly's commercial strategy to enhance value from its imaging technology. The Board of Directors also appointed Elazer Edelman, M.D., Ph.D., expanding the board to eight members. Edelman brings nearly three decades of medical and engineering experience, furthering Butterfly's mission to democratize medical imaging through its Ultrasound-on-Chip technology.
Butterfly Network, Inc. (NYSE: BFLY) announced the completion of its business combination with Longview Acquisition Corp. (NYSE: LGVW, LGVW.U), approved by stockholders on February 12, 2021. This transaction, which closed on February 16, 2021, provided the company with approximately $589 million in cash, enhancing its efforts to democratize medical imaging. Butterfly's innovative ultrasound technology aims to improve healthcare delivery and expand market applications, notably in chronic disease management affecting over 100 million patients in the U.S. The company reported 2020 revenues of at least $45 million, a 63% growth over 2019.
Butterfly Network, an innovative digital health company, is set to present at the 39th Annual J.P. Morgan Healthcare Conference on January 12, 2021, at 9:30 AM ET. The company will discuss its plans to enhance access to ultrasound technology. Butterfly Network will be listed on the NYSE under the ticker BFLY following a merger with Longview Acquisition Corp (NYSE: LGVW). The leadership team, including CEO Laurent Faracci and CMO Dr. John Martin, aims to democratize medical imaging globally, particularly for the 4.7 billion people currently lacking ultrasound access.
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