secwatch.observer — SEC 8-K summary
======================================

Issuer:     Butterfly Network, Inc. (BFLY)
CIK:        0001804176
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0001558370-24-010600
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Butterfly Network Q2 revenue $21.5M (record), net loss down 45%, raises EBITDA guidance
--------------------------------------------------------------------------------

- Record quarterly revenue of $21.5M, up 16% YoY; product revenue $14.6M (+19%) and software $6.8M (+10%).
- Net loss $15.7M vs $28.7M prior year, down 45%; Adjusted EBITDA loss $8.1M vs $17.0M.
- Raised FY 2024 adjusted EBITDA guidance to loss $(50)M-$(45)M from $(55)M-$(50)M; revenue guidance affirmed $75M-$80M.
- Regained NYSE minimum bid price compliance on July 31, 2024, after 30 consecutive trading days above $1.00.
- Launched iQ3 in Canada, added new AI partners, and achieved $10M annualized cost reduction extending cash runway into 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804176/000155837024010600/0001558370-24-010600-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804176/000155837024010600/bfly-20240801x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-010600

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