Butterfly Network Q2 revenue $19.2M (+16.4% YoY); net loss widens to $35.8M; cuts costs with workforce reduction

Butterfly Network, Inc.

2022-Q2 EPS reported -$0.40 revenue$34,789,000

Q2 revenue $19.2M (+16.4% YoY); product $13.4M, subscription $5.8M (+65.3%).
Net loss $35.8M vs $2.9M in Q2 2021; adjusted EBITDA loss $37.8M vs $28.5M.
Reaffirmed FY2022 revenue $83-88M; improved Adj. EBITDA guidance to loss $145-155M from $175-195M.
Implemented cost savings plan of ~$3M/month, including workforce reductions, to extend cash runway.
Notable partnerships: Baylor Scott & White, Gates Foundation 1,000 probes for Africa, Zebra Medical in South Africa.

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