Butterfly Network, Inc. ( (BFLY) ) has released its Q1 earnings. Here is a breakdown of the information Butterfly Network, Inc. presented to its investors.
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Butterfly Network, Inc. is a digital health company specializing in portable, semiconductor-based ultrasound technology and intuitive software, aiming to revolutionize medical imaging and improve healthcare accessibility globally. In its first quarter of 2025, Butterfly Network reported a 20% year-over-year revenue growth, achieving $21.2 million, and successfully reduced its net loss by 36%. The company also raised $81.7 million through a public offering, enhancing its financial position to support ongoing innovation and expansion efforts. Key financial metrics include a gross profit of $13.4 million, a 63% gross margin, and a net loss of $14 million, reflecting significant improvements from the previous year. Strategic initiatives such as the Butterfly HomeCare pilot program and partnerships in AI development have shown promising progress, with no rehospitalizations reported in heart failure patients involved in the pilot. Looking ahead, Butterfly Network remains committed to its strategic growth plan, with a revenue target of $96 million to $100 million for the fiscal year 2025, and continues to focus on advancing its technology leadership and expanding its market presence.