{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-23-009272","form_type":"8-K","ticker":"BFLY","cik":"0001804176","company_name":"Butterfly Network, Inc.","filed_at":"2023-05-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.675593+00:00","generated_at":"2026-06-15T04:33:22.892924+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Butterfly Network Q1 revenue flat at $15.5M; net loss narrows to $33.5M","bullets":["Total revenue $15.5M flat YoY; product revenue down 19.7% to $8.8M, software/services up 45.4% to $6.6M.","Gross margin improved to 58.7% from 53.6% on higher ASP and subscription mix; operating expenses down 23.7% to $44.1M.","Net loss $33.5M vs $44.5M YoY; adjusted EBITDA loss $22.3M vs $39.7M; cash $198M.","Received FDA clearance for AI-enabled Auto B-Line Counter for lung assessment.","Signed multi-year rollout with HQ Med Ed to over 100 rural hospitals; large deployment with largest US medical school."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-23-009272","json":"https://secwatch.observer/filing/0001558370-23-009272.json","markdown":"https://secwatch.observer/filing/0001558370-23-009272.md","text":"https://secwatch.observer/filing/0001558370-23-009272.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1804176/000155837023009272/0001558370-23-009272-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1804176/000155837023009272/bfly-20230511x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T04:33:22.892924+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"af585b00ba6a1bc0e29d9964b46f77a2c795a85c","claim":"Butterfly Network, Inc. reported the quarter ended March 31, 2023 results: revenue $15.5 million, net income $33.5 million.","evidence_excerpt":"First Quarter 2023 Financial Results First quarter total revenue of $15.5 million was flat from $15.6 million in the first quarter of 2022. Our U.S. direct sales channel saw a 15% increase led by software and other services as well as increases in our global health business. These increases were offset by lower eCommerce, International, and Vet. Product revenue decreased 19.7% to $8.8 million from $11.0 million in the first quarter of 2022. Software and other services revenue increased 45.4% to $6.6 million from $4.6 million in the first quarter of 2022. Gross profit for the first quarter was $9.1 million, compared to gross profit of $8.3 million in the first quarter of 2022. Total gross margin for the first quarter was 58.7%, compared to 53.6% in the first quarter of 2022. This increase was primarily due to a higher average selling price, in addition to product mix, reflecting a higher proportion of subscription revenues. Also contributing to the increased margin was higher manufactur","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1804176/000155837023009272/0001558370-23-009272-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended March 31, 2023"},{"label":"Revenue","value":"$15.5 million"},{"label":"Net income","value":"$33.5 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}