Butterfly Network Q1 rev $17.7M (+14% YoY), raises FY guide; discloses NYSE minimum price non-compliance

Butterfly Network, Inc.

2024-Q1 EPS reported -$0.10 revenue$17,656,000

Q1 revenue $17.7M, up 14% YoY; net loss narrowed to $21.8M from $33.5M.
Adjusted EBITDA loss $13.2M vs $22.3M a year ago; adjusted EPS ($0.07) vs ($0.11).
Raises FY 2024 revenue guidance to $75-80M (15-20% growth), Adj. EBITDA loss $55-50M.
Received NYSE notice: avg closing price below $1 for 30 days; six-month cure period.
Launched Butterfly iQ3 (FDA cleared), received EU MDR certification, and introduced ScanLab training app.

item 2.02 item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Butterfly Network, Inc. updated its the first quarter ended March 31, 2024 guidance (raised).

Period: the first quarter ended March 31, 2024
Guidance: raised
Result: reported results

Exact text from the filing

On May 1, 2024, Butterfly Network, Inc. (the “Company”) issued a press release announcing its results for the first quarter ended March 31, 2024 and providing a business update.

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Butterfly Network, Inc. received a nyse deficiency notice notice regarding minimum bid price (rules 802.01C).

Exchange: nyse
Notice: deficiency notice
Deficiency: minimum bid price
Rules: 802.01C

Exact text from the filing

April 26, 2024, the Company received a notification letter (the “Notice”) from the New York Stock Exchange (the “NYSE”) advising that because the average closing price of the Company’s common stock was less than $1.00 over a consecutive 30 trading-day period, it is not in compliance with Section 802.01C of the NYSE Listed Company Manual (“Section 802.01C”). The Company’s common stock will continue to be listed and traded on the NYSE, subject to the Company’s compliance with other NYSE continued listing standards. Pursuant to Section 802.01C, the Company has a period of six months following the

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Butterfly Network, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-006389

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