Butterfly Network Q1 revenue up 25% to $15.6M; net loss widens to $44.5M

Butterfly Network, Inc.

2022-Q1 EPS reported -$0.22 revenue$15,574,000

Revenue $15.6M (+25.2% YoY); product rev $11.0M (+14.8%), subscription rev $4.6M (+60.1%).
Net loss $44.5M vs $0.7M loss in Q1 2021; adjusted EBITDA loss $40.0M vs $26.5M.
Partnership with Petco to bring Butterfly iQ+ Vet to >200 Petco clinics across US.
Awarded $5M Gates Foundation grant; 1,000 probes for maternal/fetal health in sub-Saharan Africa.
Cash position $359.9M as of March 31, 2022.

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