Butterfly Network Q3 revenue $20.6M (+33% YoY), raises FY 2024 guidance

Butterfly Network, Inc.

2024-Q3 EPS reported -$0.26 revenue$59,705,000

Q3 revenue $20.6M (+33% YoY); net loss improved 38% to $16.9M; adjusted EBITDA loss $8.4M.
Cash and restricted cash $97.8M; operating cash use reduced 50% YoY.
Raised FY 2024 revenue guidance to $79-81M (over 20% growth) and improved adjusted EBITDA guidance to ($42M)-($40M).
Formed Octiv, a wholly owned subsidiary to commercialize Butterfly's chip in new sectors.
Launched iQ3 in Europe; opened markets in Indonesia, Netherlands, and Belgium.

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