Butterfly Network, Inc. develops semiconductor-based ultrasound devices, programmable cloud software and AI for medical imaging and sensing. Its Ultrasound-on-Chip technology underpins handheld whole-body ultrasound systems such as Butterfly iQ, iQ+ and iQ3, along with enterprise workflow software including Compass AI and developer tools such as Butterfly Garden.
Company news commonly covers financial results, point-of-care ultrasound adoption, FDA-cleared AI tools such as its Gestational Age Tool, U.S. and international sales channels, and platform initiatives. Updates also address Butterfly Embedded, the company’s licensing and co-development effort for applying its ultrasound chip and software platform in partner-built products, as well as board and leadership changes tied to medtech, clinical strategy and commercialization.
Butterfly Network (NYSE: BFLY), a digital health company specializing in handheld ultrasound technology, has announced its participation in the Canaccord Genuity MedTech, Diagnostics and Digital Health & Services Forum on November 21, 2024, in New York City. CEO Joseph DeVivo and CFO Heather Getz will conduct one-on-one meetings throughout the event. DeVivo will present a business overview at 11:00 am ET. The presentation will be available via webcast on the company's investor website until February 19, 2025.
Butterfly Network (NYSE: BFLY) reported strong Q3 2024 results with revenue of $20.6 million, up 33% year-over-year. The company reduced its net loss by 38% and net cash used in operations by 50%. Product revenue increased 55% to $13.5 million, while software and services revenue grew 5% to $7.0 million. The company launched iQ3 in Europe and expanded into Indonesia, the Netherlands, and Belgium. Based on strong performance, Butterfly raised its full-year 2024 guidance to $79-81 million in revenue and improved its adjusted EBITDA loss forecast to $42-40 million.
HeartFocus has launched its AI-powered Education app in partnership with Butterfly Network (NYSE: BFLY), designed to teach healthcare practitioners how to conduct clinical-grade heart scans using Butterfly's handheld ultrasound devices. The app helps users master 10 essential cardiac views through personalized, AI-powered learning pathways.
Compatible with Butterfly iQ3 and iQ+ probes on iOS iPads, the platform features advanced gamification for enhanced engagement. The app will be demonstrated at the ANCC MagPath 2024 conference and is currently available in the US and 22 other countries, with a -time offer of a free six-month license.
Butterfly Network, Inc. (NYSE: BFLY), a digital health company specializing in portable, semiconductor-based ultrasound technology, has announced its plans to report third quarter 2024 financial results on November 1, 2024, at 8:00 am ET. The company will host a conference call and webcast before market opening, featuring Joseph DeVivo, President, CEO, and Chairman of the Board, along with Heather Getz, EVP and CFO/COO.
The conference call will be broadcast live in listen-only mode via a webcast on Butterfly's Investor Relations website. Interested parties can also dial in to listen to the call. A replay of the call will be available until November 15, 2024, through various access methods provided in the announcement.
Kansas City University (KCU) is pioneering point-of-care ultrasound (POCUS) education by introducing a first-of-its-kind, hands-on POCUS elective in its 2024 curriculum. KCU is the first U.S. medical school to use Butterfly Network's AI-guided ScanLab™ application as the foundation of its POCUS curriculum. The program focuses on student scanning proficiency, ensuring graduates are prepared for residency and clinical settings.
The AI-powered ScanLab™ app provides real-time feedback, anatomical labeling, and grading, enabling students to learn independently. Nearly 300 students have enrolled in KCU's POCUS elective series, using personal Butterfly handheld ultrasound devices. This innovative approach addresses the gap in POCUS training in medical schools, setting a new standard for medical education in the 21st century.
Butterfly Network, Inc. (NYSE: BFLY) has published a case study highlighting the successful implementation of its point-of-care ultrasound (POCUS) devices and Compass™ workflow software at the University of Rochester Medical Center (URMC). The deployment resulted in a 116% increase in ultrasound charge capture across the health system. URMC has deployed 862 Butterfly devices across 64 departments and plans to scale to 2,500 devices by 2026.
Key achievements include:
- Nearly 50,000 scanning sessions completed since 2022
- 74% increase in scanning sessions in 2023
- 147% rise in studies uploaded from Butterfly devices
- 1,782% jump in images uploaded from non-Butterfly devices
These results have contributed to earlier diagnoses and improved patient outcomes while reducing emergency visits.
Butterfly Network (NYSE:BFLY) has been named one of 2024's Fierce 50 honorees by Fierce Life Sciences and Fierce Healthcare. This recognition highlights Butterfly's advancements in medical imaging through its portable, semiconductor-based ultrasound technology. Key achievements include:
1. The successful launch of the next-generation Butterfly iQ3™
2. Establishment of the Butterfly Garden™ program for ultrasound AI innovation
3. Creation of a chip-licensing program for partners to develop technologies Powered by Butterfly™
CEO Joseph DeVivo emphasized the company's mission to democratize medical imaging by improving access, affordability, and sustainability. The Fierce 50 recognition underscores Butterfly's role in driving digital revolution in the ultrasound industry.
Butterfly Network Inc. (NYSE: BFLY) has launched its third-generation handheld point-of-care ultrasound system, Butterfly iQ3™, in Europe. The device, built on advanced Ultrasound-on-Chip™ technology, offers improved image quality, new 3D imaging capabilities, and a smaller, lighter design. Key features include:
1. Unparalleled image quality with twice the processing power of its predecessor
2. Novel tools: iQ Slice™ and iQ Fan™ for advanced 3D imaging
3. Ergonomic design: 17% smaller probe face, 7% shorter probe, and 2.5x faster charging
4. CE marked and EU MDR certified
The Butterfly iQ3 is now available in 16 European countries, expanding the company's mission to democratize ultrasound technology.
Butterfly Network (NYSE: BFLY), a digital health company specializing in handheld, whole-body ultrasound and intuitive software, has announced its participation in Lake Street Capital Markets' 8th Annual Best Ideas Growth Conference. The event is scheduled for September 12, 2024, in New York City.
Heather Getz, Chief Financial and Operations Officer at Butterfly Network, will be representing the company in one-on-one investor meetings during the conference. This participation provides an opportunity for Butterfly Network to showcase its innovative technology and growth potential to investors.
Interested parties can schedule meetings with Heather Getz through their Lake Street representatives, offering a chance for in-depth discussions about the company's future prospects and strategies.
Butterfly Network (NYSE: BFLY) has appointed Steve Cashman as Chief Business Officer, effective immediately. Cashman, a seasoned healthcare leader, joins the company following its successful launch of the third-generation Butterfly iQ3 and record revenue performance in H1 2024. He will oversee global sales, marketing, product, and corporate strategy as part of the Executive Management Team.
Cashman brings extensive health technology expertise and commercial leadership, having previously served as CEO of Caption Health and CCO at InTouch Health. His appointment follows Butterfly's announcement of its highest quarterly revenue in Q2, reaching $21.5 million, a 16% year-over-year growth. This achievement underscores the growing demand for Butterfly's innovative ultrasound technology and the effectiveness of its strategy.