secwatch.observer — SEC 8-K summary
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Issuer:     Butterfly Network, Inc. (BFLY)
CIK:        0001804176
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0001558370-23-009272
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Butterfly Network Q1 revenue flat at $15.5M; net loss narrows to $33.5M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804176/000155837023009272/0001558370-23-009272-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804176/000155837023009272/bfly-20230511x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-009272

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer