Butterfly Network, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:05 pm
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Butterfly Network, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 15.42 million compared to USD 19.62 million a year ago. Net loss was USD 27.37 million compared to USD 54.74 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to USD 0.27 a year ago.
For the nine months, revenue was USD 49.38 million compared to USD 54.41 million a year ago. Net loss was USD 89.58 million compared to USD 135.02 million a year ago. Basic loss per share from continuing operations was USD 0.44 compared to USD 0.68 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.