Butterfly Network, Inc. - BFLY STOCK NEWS

Butterfly Network has appointed Joseph M. DeVivo as its new President and CEO, taking effect immediately. DeVivo brings over 35 years of experience in healthcare leadership, including a notable record at InTouch Health, where he achieved a 30% annual revenue growth and facilitated a $1.1 billion sale to Teladoc Health. He has also held significant positions at AngioDynamics and Smith and Nephew. DeVivo aims to enhance the accessibility of Butterfly's iQ+ ultrasound technology, making it as ubiquitous as the stethoscope. His appointment aligns with the company’s recent 510(k) clearance for an AI-enabled Auto B-line Counter, expected to launch in Summer 2023, which could revolutionize diagnostics in lung function evaluations.

Butterfly Network has announced the 510(k) clearance for its groundbreaking AI-enabled Auto B-line Counter, enhancing lung condition assessments. Utilizing deep learning technology, this new tool simplifies the evaluation of abnormal lung conditions by counting B-lines from a quick ultrasound clip, significantly speeding up diagnosis and treatment. The algorithm is trained on a dataset of over 3.5 million de-identified ultrasound images sourced from across the U.S. The company aims to launch this innovative solution in early summer 2023, aiming to improve healthcare accessibility and democratize medical imaging.

Butterfly Network (NYSE: BFLY), a digital health company, will participate in the 33rd Annual Oppenheimer Healthcare Conference from March 13-15, 2023. Executives, including Heather Getz, Darius Shahida, and Dr. John Martin, will present on March 14 at 10:40 AM ET. A live webcast will be accessible on the Butterfly investor website.

Founded in 2011, Butterfly is focused on improving global health equity through its innovative Ultrasound-on-Chip™ technology.

BURLINGTON, Mass.--(BUSINESS WIRE)--Butterfly Network, Inc. (NYSE: BFLY) announced its participation in the 43rd Annual Cowen Health Care Conference at the Boston Marriott Copley Place from March 6-8, 2023. Key executives, including Heather Getz, Darius Shahida, and Dr. John Martin, will hold a fireside chat on March 7, 2023, at 2:10 pm ET. A live webcast of the presentation will be available on the Butterfly investor website. Founded in 2011, Butterfly Network has developed the world's first handheld, whole-body ultrasound system, the Butterfly iQ+, aiming to enhance global health equity and improve access to medical imaging.

Butterfly Network reported Q4 2022 revenue of $19.0 million, unchanged from Q4 2021, with a full-year revenue of $73.4 million, reflecting 17.3% growth year-over-year. The company introduced Cloud 2.0 software, enhancing workflow management, and expanded its user base with new clients including Hennepin County and University Hospital Bonn. Although product revenue declined 12.2%, software revenue surged 38.3%. A notable increase in gross profit was recorded at $9.6 million and a gross margin of 50.3%. Looking ahead, Butterfly anticipates 2023 revenue growth in the high teens to low 20% range.

Butterfly Network has partnered with University Hospital Bonn (UKB) to integrate its Butterfly iQ+ ultrasound devices into medical education. This initiative marks the first implementation in Europe, providing state-of-the-art technology for teaching and improving patient care. UKB will supply students with personal Butterfly iQ+ devices, enhancing practical training. The collaboration aims to evaluate the impact on clinical workflows and education.

UKB cares for approximately 500,000 patients annually and employs around 8,800 individuals. The roll-out of the Butterfly devices will commence next summer, embedded within a new curriculum focused on ultrasound education.

Butterfly Network, Inc. (NYSE: BFLY) will report its fourth quarter 2022 financial results and provide a business update on February 28, 2023, before market opening. The conference call will be hosted by Dr. Jonathan Rothberg, Chairman and Interim CEO, and Heather Getz, Executive Vice-President and CFO, at 8:30 am ET. Interested parties can access the call via Butterfly's Investor Relations website. The company, known for its handheld ultrasound technology, aims to democratize medical imaging globally, addressing the needs of 4.7 billion people lacking access to ultrasound.

Butterfly Network, Inc. (NYSE: BFLY) announced the successful completion of phase one of its $5 million deployment and training program in Kenya, funded by the Bill & Melinda Gates Foundation. The initiative distributed 500 Butterfly iQ+ devices to mid-level healthcare practitioners, significantly enhancing maternal-fetal care. Initial data shows an impressive adoption rate, with over 90% of trained respondents identifying high-risk conditions. The program aims to equip 1,000 healthcare workers in Sub-Saharan Africa and will continue with a second phase in South Africa.

Butterfly Network, Inc. (NYSE: BFLY) announced its participation in the 41st Annual J.P. Morgan Healthcare Conference from January 9-12, 2023, in San Francisco, California. Key executives, Darius Shahida and Heather Getz, will present on January 12 at 9:00 am PT at the Westin St. Francis Hotel. The presentation will be available via a live webcast. Butterfly Network is recognized for its innovative handheld, whole-body ultrasound technology aimed at improving global health equity.