Butterfly Network Q3 revenue falls 21% to $15.4M; narrows adjusted EBITDA loss guidance

Butterfly Network, Inc.

2023-Q3 EPS reported -$0.44 revenue$49,384,000

Revenue $15.4M vs $19.6M YoY; product revenue down 34% to $8.8M.
Gross margin improved to 60.8% from 56.0% on higher ASP and mix shift to software.
Net loss improved to $27.4M from $54.7M; adj. EBITDA loss $12.5M vs $31.8M.
Announced 5-year co-development with Forest Neurotech (up to $20M) and launched Butterfly Garden AI marketplace.
FY2023 guidance: revenue at least $64M; adj. EBITDA loss narrowed to $75-70M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Butterfly Network, Inc. reported the quarter ended September 30, 2023 results: revenue $15.4 million, net income $27.4 million.

Period: the quarter ended September 30, 2023
Revenue: $15.4 million
Net income: $27.4 million
Result: reported results

Exact text from the filing

in its direct sales team while allowing Butterfly to conservatively extend its cash to 2026. Three Months Ended September 30, 2023 Financial Results Revenue : Total revenue was $15.4 million, down from $19.6 million in the third quarter of 2022. U.S. revenue was $10.4 million, down 15% from prior year, driven by lower probe sales largely as a result of a large

View on SEC.gov

Browse all earnings releases →

Butterfly Network, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-017431

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.