Butterfly Network Q2 revenue $18.5M (-3.8%); net loss improves to $28.7M; reorganizes, cuts $2M/month

Butterfly Network, Inc.

2023-Q2 EPS reported -$0.31 revenue$33,963,000

Revenue $18.5M, down 3.8% YoY; US up 21% to $14.3M, international down 44%.
Net loss $28.7M vs $35.8M prior year; adjusted EBITDA loss $17.0M vs $37.1M.
Completed reorganization cutting operating expenses by ~$2M/month; extends cash runway.
Full-year 2023 guidance: revenue at least $64M, adjusted EBITDA loss $80M-$75M.
Cash $171.2M at June 30; plans to launch Butterfly iQ3 probe next year and Butterfly Garden SDK.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Butterfly Network, Inc. reported second quarter ended June 30, 2023 results: revenue $18.5 million.

Period: second quarter ended June 30, 2023
Revenue: $18.5 million
Result: reported results

Exact text from the filing

handheld, whole-body ultrasound , today announced financial results for the quarter ended June 30, 2023, and provided a business update. Highlights ● Reported total revenue of $18.5 million for the second quarter of 2023, a 3.8% decrease from $19.2 million for the second quarter of 2022, and significantly reduced losses. ● Conducted a full strategy reevaluation with

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Source: SEC EDGAR

accession 0001558370-23-013075

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