secwatch.observer — SEC 8-K summary
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Issuer:     Butterfly Network, Inc. (BFLY)
CIK:        0001804176
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001558370-23-017431
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804176/000155837023017431/0001558370-23-017431-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804176/000155837023017431/bfly-20231102x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-017431

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