Butterfly Network, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 01, 2024 at 04:30 pm EDT
Share
Butterfly Network, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported revenue was USD 17.66 million compared to USD 15.48 million a year ago. Net loss was USD 21.76 million compared to USD 33.54 million a year ago.
Butterfly Network, Inc. is a digital health company. The Company is focused on transforming care through a combination of portable, semiconductor-based ultrasound technology, intuitive software, services, and educational offerings. It has two portable ultrasound devices on the market: second-generation Butterfly iQ+ and third-generation Butterfly iQ3. Butterfly iQ+/iQ3 are both powered by its Ultrasound-on-Chip technology, allowing them to power whole-body imaging on a single handheld probe using digital semiconductor technology. It offers cloud-based software solutions to healthcare systems, teleguidance, in-app educational tutorials, formal education programs through its Butterfly Academy software and Butterfly Certified courses, as well as professional services for large scale deployments. Within the Butterfly application, users can utilize up to six imaging modes, including B-Mode, Color Doppler, M-Mode, Power Doppler, Pulsed-Wave Doppler, and Biplane Imaging.