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 (BFLY) operates as a medical imaging technology company that pioneered semiconductor-based handheld ultrasound devices. Headquartered in Burlington, Massachusetts and trading on the New York Stock Exchange, the company holds FDA clearance for its point-of-care ultrasound systems.
News coverage for Butterfly Network typically centers on several key areas reflecting the company's position in medical device innovation. Product development announcements detail advances in the company's Ultrasound-on-Chip technology, including new imaging capabilities, artificial intelligence features, and hardware improvements. Regulatory filings and clearances document FDA submissions for device modifications, new clinical indications, and international market approvals that expand the company's addressable markets.
Strategic partnerships and licensing agreements represent significant news drivers, particularly arrangements with healthcare systems, technology companies, and semiconductor manufacturers that advance the company's commercial reach or technical capabilities. Clinical evidence publications and peer-reviewed studies validate the company's devices across medical specialties, establishing credibility with physician users and healthcare administrators.
Financial reporting provides insights into the company's adoption metrics, subscription revenue growth, and research and development investments. As a medical device company balancing hardware sales with recurring software revenue, earnings reports reveal how the business model evolves and which market segments drive growth. Insider trading activity through Form 4 filings shows executive and director confidence levels through their buying and selling patterns.
Competitive developments shape the handheld ultrasound market as traditional imaging manufacturers introduce portable devices and other semiconductor-based ultrasound companies emerge. Industry conferences where the company presents research or showcases technology provide forward-looking context about product roadmaps and clinical applications under development.
This news resource aggregates real-time coverage from regulatory filings, press releases, healthcare technology publications, and medical journals to provide comprehensive visibility into Butterfly Network's business developments. For investors tracking medical device innovation and the shift toward point-of-care diagnostics, following this news feed offers essential context about a company working to transform medical imaging accessibility through semiconductor technology.
On June 27, 2024, UltraSight announced its partnership with Butterfly Network to integrate real-time AI guidance into Butterfly's handheld ultrasound devices. This collaboration aims to improve access to cardiac care by enabling more healthcare professionals to perform cardiac ultrasounds, addressing the global shortage of sonographers and reducing delays in cardiac testing. Cardiovascular disease is the leading cause of death worldwide, and this initiative seeks to empower even novice users to conduct echocardiographic exams. With regulatory approvals, UltraSight's AI software will be deployed on Butterfly's platform to enhance diagnostic accuracy and accessibility. This partnership follows Butterfly's recent launch of the Butterfly Garden AI Marketplace in August 2023, opening its platform to third-party developers.
HeartFocus has joined the Butterfly Garden AI Marketplace by Butterfly Network, aiming to integrate its AI-powered heart scan software with Butterfly's handheld ultrasound system. This collaboration plans to release the software after necessary approvals, enabling healthcare professionals to conduct cardiac scans anytime, anywhere.
The initiative leverages Butterfly's extensive imaging platform and HeartFocus' proprietary algorithms trained on over 10 million data points. The goal is to enhance access to precision cardiac care and improve cardiovascular disease detection and management.
Butterfly Network's SDK and APIs allow third-party developers to create AI applications, expanding the usability of its ultrasound technology. This partnership could significantly democratize access to high-quality cardiovascular care globally.
Butterfly Network (NYSE: BFLY), a digital health company specializing in handheld, whole-body ultrasound devices and software, announced its participation in the Goldman Sachs 45th Annual Global Healthcare Conference.
Joseph DeVivo, the company's President, CEO, and Chairman, will present and hold one-on-one investor meetings. The presentation is scheduled for June 12, 2024, at 10:00 am ET in Miami, Florida.
A live webcast will be available on Butterfly's investor website, with replays accessible post-event.
Butterfly Network has launched its first specialty product, iQ+ Bladder, aimed at the bladder scanning market in the United States.
This product expands Butterfly's reach beyond its core point-of-care ultrasound market, leveraging its proprietary Ultrasound-on-Chip™ technology. The bundled solution includes an iQ+ Bladder probe, streamlined software, a compact rolling cart, a tablet, and a power splitter.
The iQ+ Bladder enables nurses to obtain automated bladder volume calculations with 3D visualizations swiftly. The user-friendly interface, robust design, and advanced visualization capabilities make it a valuable tool in today's healthcare environment, targeting efficiency, reliability, and workflow optimization. The product is designed to meet the needs of nurses and other providers who conduct regular bladder scans.
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.
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