Latest news with #JosephDeVivo
Business Wire
22-05-2025
- Business
- Business Wire
Butterfly Network to Participate at William Blair 45th Annual Growth Stock Conference
NEW YORK & BURLINGTON, Mass.--(BUSINESS WIRE)--Butterfly Network, Inc. (NYSE: BFLY) ('Butterfly') a digital health company transforming care with handheld, whole-body ultrasound and intuitive software, today announced that Joseph DeVivo, President, Chief Executive Officer and Chairman will present and host one-on-one investor meetings at William Blair 45th Annual Growth Stock Conference. The presentation will take place on Thursday, June 5, 2025, at 8:00 am CT in Chicago, IL. A live webcast of the presentation will be available in the Events & Presentations section of the Butterfly investor website, and available for replay following the event. To schedule a one-on-one meeting with Mr. DeVivo, please reach out to your William Blair representative. About Butterfly Network Butterfly Network, Inc. (NYSE: BFLY) is a healthcare company driving a digital revolution in medical imaging with its proprietary Ultrasound-on-Chip™ semiconductor technology and ultrasound software solutions. In 2018, Butterfly launched the world's first handheld, single-probe, whole-body ultrasound system, Butterfly iQ. The iQ+ followed in 2020, and the iQ3 in 2024, each with improved processing power and performance by leveraging Moore's Law. The iQ3 earned Best Medical Technology at the 2024 Prix Galien USA Awards, a prestigious honor and one of the highest accolades in healthcare. Butterfly's innovations have also been recognized by Fierce 50, TIME's Best Inventions and Fast Company's World Changing Ideas, among other achievements. Butterfly combines advanced hardware, intelligent software, AI, services, and education to drive adoption of affordable, accessible imaging. Clinical publications demonstrate that its handheld ultrasound probes paired with Compass™ enterprise workflow software, can help hospital systems improve care workflows, reduce costs, and enhance provider economics. With a cloud-based solution that enables care anywhere through next-generation mobility, Butterfly aims to democratize healthcare by addressing critical global healthcare challenges. Butterfly devices are commercially available to trained healthcare practitioners in areas including, but not limited to, parts of Africa, Asia, Australia, Europe, the Middle East, North America and South America; to learn more about available countries, visit:
Yahoo
01-03-2025
- Business
- Yahoo
Butterfly Network Inc (BFLY) Q4 2024 Earnings Call Highlights: Strong Revenue Growth and ...
Revenue: $82.1 million for 2024, representing 25% growth. Q4 Revenue: $22.4 million, a 35% increase year-over-year. US Revenue: $14.5 million in Q4, up 32% year-over-year. International Revenue: $5.5 million in Q4, a 19% increase year-over-year. Product Revenue: $14.7 million in Q4, up 45% year-over-year. Software and Other Services Revenue: $7.6 million in Q4, a 20% increase year-over-year. Gross Profit: $13.7 million in Q4, a 45% increase year-over-year. Gross Margin: 61% in Q4, up from 57% in the prior year period. Adjusted EBITDA Loss: $38.9 million for 2024, a 42% improvement from 2023. Operating Expenses: 16% reduction for the full year 2024. Cash and Cash Equivalents: $92.8 million at year-end 2024. 2025 Revenue Guidance: $96 million to $100 million, approximately 20% growth. 2025 Adjusted EBITDA Loss Guidance: $37 million to $42 million. Warning! GuruFocus has detected 5 Warning Signs with BFLY. Release Date: February 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Butterfly Network Inc (NYSE:BFLY) reported a 25% increase in revenue for 2024, reaching $82.1 million, with a significant improvement in adjusted EBITDA by 42%. The launch of the iQ3 device was a commercial success, representing 50% of 2024 sales and receiving the prestigious Prix Galien Award. Butterfly Network Inc (NYSE:BFLY) expanded its international presence with EU MDR certification for iQ+ and iQ3, facilitating European and Asian market penetration. The company successfully raised $81.7 million in a follow-on offering, providing a financial bridge to cash flow independence. Butterfly Network Inc (NYSE:BFLY) is actively developing strategic partnerships, including five new partners in areas like neuroscience and generative AI, expected to contribute revenue in 2025. Despite revenue growth, Butterfly Network Inc (NYSE:BFLY) still reported an adjusted EBITDA loss of $38.9 million for 2024. The company faces ongoing challenges with higher production and warranty costs impacting gross margins. Butterfly Network Inc (NYSE:BFLY) has not yet included potential revenue from new initiatives like Octiv or HomeCare in its 2025 guidance, indicating uncertainty in these areas. The transition from pilot to commercial revenue in the HomeCare channel remains uncertain, with no specific timeline provided. The company is still awaiting the EU Commission's decision on the revocation process for lead exemption in piezoelectric handheld ultrasound devices, which could impact future operations. Q: Can you provide an update on your confidence level in reaching the $500 million revenue target set during the 2024 Investor Day? A: Joseph DeVivo, CEO, expressed strong confidence in reaching the target, highlighting that the company is on track with its growth initiatives. He emphasized the potential of the Octiv and HomeCare businesses to contribute significantly to future growth, noting that Octiv's pipeline is expanding with larger partners, and the HomeCare business is proving its model with promising pilot results. Q: What steps are required to transition the HomeCare pilot into a revenue-generating franchise, and what timelines can you share? A: Joseph DeVivo explained that the transition involves training partner staff rather than hiring new personnel, which accelerates the process. The pilot is designed for 200 patients, and the company is seeing positive results. The scalability of the model, using telemedicine and remote follow-up, suggests a promising future for commercial opportunities. Q: Can you provide an update on the development of the wearable ultrasound device and its potential market impact? A: Joseph DeVivo stated that the wearable device is in active development, but the focus is on building the use case first. As the HomeCare business gains traction, the wearable will be introduced to meet the demand. The strategy is to develop the market and user base before launching the device. Q: How does the FY25 guidance account for new revenue streams like Octiv and HomeCare? A: Heather Getz, CFO, clarified that the guidance includes existing Octiv contracts but excludes new contracts or revenue from HomeCare and other new business initiatives. The guidance focuses on traditional revenue streams from iQ+ and iQ3 devices and existing software and services. Q: What evidence supports the claim that Butterfly's image quality is as good as competitors'? A: Joseph DeVivo explained that the iQ3 has closed the gap in image quality with other handheld devices, as evidenced by internal surveys and market feedback. The iQ3 is now part of the conversation among top devices, with users expressing preferences for its image quality, which was not the case before. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Associated Press
18-02-2025
- Business
- Associated Press
Butterfly Network to Report Fourth Quarter and Full Year 2024 Financial Results on February 28, 2025
BURLINGTON, Mass. & NEW YORK--(BUSINESS WIRE)--Feb 18, 2025-- Butterfly Network, Inc. (NYSE: BFLY) ('Butterfly'), a digital health company transforming care with portable, semiconductor-based ultrasound technology and intuitive software, announced that it will report fourth quarter and full year 2024 financial results on Friday, February 28, 2025, at 8:00 am ET. Joseph DeVivo, President, Chief Executive Officer and Chairman of the Board, and Heather Getz, Executive Vice President and Chief Financial and Operations Officer, will host a conference call and webcast before the market opens on February 28 to discuss the financial performance and operational progress. The conference call will be broadcast live in listen-only mode via a webcast on Butterfly's Investor Relations website at Events & Presentations. Individuals interested in listening to the conference call on your telephone may do so by dialing approximately ten minutes prior to start time: US domestic callers: 1-877-300-8521 International callers: 1-412-317-6026 Conference ID: 10195836 Or use the Call me™ link for instant online telephone access to the event (active 15 minutes prior to scheduled start time): After the live webcast, the webcast will be archived on Butterfly's Investor Relations page. Butterfly Network, Inc. (NYSE: BFLY) is a healthcare company driving a digital revolution in medical imaging with its proprietary Ultrasound-on-Chip™ semiconductor technology and ultrasound software solutions. In 2018, Butterfly launched the world's first handheld, single-probe, whole-body ultrasound system, Butterfly iQ. The iQ+ followed in 2020, and the iQ3 in 2024, each with improved processing power and performance by leveraging Moore's Law. The iQ3 earned Best Medical Technology at the 2024 Prix Galien USA Awards, a prestigious honor and one of the highest accolades in healthcare. Butterfly's innovations have also been recognized by Fierce 50, TIME's Best Inventions and Fast Company's World Changing Ideas, among other achievements. Butterfly combines advanced hardware, intelligent software, AI, services, and education to drive adoption of affordable, accessible imaging. Clinical publications demonstrate that its handheld ultrasound probes paired with Compass™ enterprise workflow software, can help hospital systems improve care workflows, reduce costs, and enhance provider economics. With a cloud-based solution that enables care anywhere through next-generation mobility, Butterfly aims to democratize healthcare by addressing critical global healthcare challenges. Butterfly devices are commercially available to trained healthcare practitioners in areas including, but not limited to, parts of Africa, Asia, Australia, Europe, the Middle East, North America and South America; to learn more about available countries, visit: . Heather Getz Chief Financial and Operations Officer, Butterfly [email protected] Halper LifeSci Advisors (IR Representative) 646-876-6455 INDUSTRY KEYWORD: SOFTWARE RADIOLOGY BIOTECHNOLOGY HARDWARE HEALTH MEDICAL DEVICES HEALTH TECHNOLOGY TECHNOLOGY SOURCE: Butterfly Network, Inc. Copyright Business Wire 2025. PUB: 02/18/2025 08:05 AM/DISC: 02/18/2025 08:06 AM
