Slide 1: Q2 2022 Earnings Call
Q2 2022 Earnings Call August 03, 2022 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Butterfly Network, Inc.’s (the “Company”) actual results may differ from its expectations, esti
Slide 3: Introduction
Introduction Dr. Todd Fruchterman, President & CEO 3
Slide 4: The Problem We Are Solving: Enabling More Informed Clinical Decisions
The Problem We Are Solving: Enabling More Informed Clinical Decisions Many clinical decisions are made with incomplete information. We’re here to change that. The vision. The mission. That all people, everywhere, get the right care, driven Create access to valuable clinical insights using by the rig
Slide 5: Advancing Execution and Impact
Advancing Execution and Impact Core principles applied across strategic pillars to drive adoption Health Systems International Expansion Home Adjacent Markets Easy. Everywhere. Economical.
Slide 6: Butterfly's Reach is Groundbreaking
Butterfly’s Reach is Groundbreaking Strategic pillars for focused innovation and growth across markets Health Systems International Expansion Home Adjacent Markets Butterfly iQ+ is a prescription device intended for qualified healthcare professionals only. Potential future home use is subject to reg
Slide 7: Scaled Deployment of Butterfly's Software at Baylor, Scott & White
Health Systems Scaled Deployment of Butterfly’s Software at Baylor, Scott & White Strategic, enterprise-wide initiative to transform how traditional ultrasound suite is managed • Baylor Scott & White, operates flagship academic medical centers in Texas and is the most award-winning not-for-profit he
Slide 8: Continued Momentum in International Markets
International Expansion Continued Momentum in International Markets • Added Zebra Medical as a • Continued progress on our • In the UK, we’ve added Brighton & distribution partner, a leading partnership with Bill & Melinda Sussex Medical School and Brunel medical device manufacturer Gates Foundation
Slide 9: Clinical studies to show the value of Butterfly for home-based care
Home Same Information, Same Quality, Regardless of Care Setting Standardization becomes possible when the information is consistent Clinical studies to show the value of Butterfly for home—based care Butterfly iQ+ is a prescription device intended for qualified healthcare professionals only. Potenti
Slide 10: Adjacent Markets
Adjacent Markets • Butterfly iQ+ Vet to be deployed in • Texas Tech University (TTU) School of Petco’s growing network of nearly Veterinary Medicine entered a 4-year 200 full-service veterinary hospitals partnership with Butterfly at Petco pet care centers • Butterfly iQ+ Vet will be embedded in • B
Slide 11: Q2 2022 Financials
Q2 2022 Financials 11
Slide 12: Total Revenue Growth of 16% Year-over-Year
Total Revenue Growth of 16% Year-over-Year $19.2 million total revenue in Q2 2022 $19.2 million Total Revenue 20 $16.5 million Total Revenue $5.8 Year-over-Year Growth $3.5 in Q2 USD (millions) 3% Product Revenue 10 $13.4 $13.0 65% Subscription Revenue 16% Overall Revenue 0 Q2 2022 Q2 2021 Product R
Slide 13: Q2 2022: Consistent Adjusted Margins and Strong Cash Position
Q2 2022: Consistent Adjusted Margins and Strong Cash Position Selected Financials (Dollars in Millions) – Q2 2022 Compared to Q2 2021 USD (millions) Q2 2022 Q2 2021 Gross Profit $10.6 $8.2 - Gross Margin 55.0% 49.8% Adjusted Gross Profit (Loss)* $11.2 $8.3 - Adjusted Gross Margin 58.5% 50.2% Adjuste
Slide 14: Full Year 2022 Guidance
Full Year 2022 Guidance A reconciliation of Adjusted EBITDA to its corresponding GAAP measure, net loss, is not available on a forward-looking basis because the Company is unable to predict with reasonable certainty the non-cash component of employee compensation expense, changes in its working capi
Slide 15: Thank you
Thank you 15
Slide 16: Reconciliation of Non-GAAP Measures to Comparable GAAP Measures
Reconciliation of Non-GAAP Measures to Comparable GAAP Measures Appendix A (in thousands, unaudited) In evaluating the Company’s financial performance and outlook, management uses, adjusted EBITDA, adjusted gross profit and adjusted gross margin, which are non-GAAP measures. Management uses these no