Slide 1: Q4 2021 Earnings Call
Q4 2021 Earnings Call February 28, 2022
Slide 2: Legal Statements
Legal 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 e
Slide 3: Dr. Todd Fruchterman, President & CEO
Dr. Todd Fruchterman, President & CEO
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: Clinical Awareness is Building
Clinical Awareness is Building Growing List of Publications Using Butterfly 5
Slide 6: Butterfly is Digital Health
Butterfly is Digital Health Valuable information to drive better clinical decisions, wherever, whenever 6
Slide 7: Thinking Differently with Better Information, Earlier in Care
Thinking Differently with Better Information, Earlier in Care Butterfly is designed to change the paradigm of how clinical decisions are made 7
Slide 8: Q4 2021 Revenue Growth of 21% Year-over-Year
Q4 2021 Revenue Growth of 21% Year-over-Year $19.0 million total revenue in Q4 2021 25 $19.0 million Total Revenue $4.6 Year-over-Year Growth USD (millions) $15.7 million Total Revenue 15 $3.1 15% Product Revenue $14.4 46% Subscription Revenue $12.5 21% Overall Revenue 0 Q4 2021 Q4 2020 Product Reve
Slide 9: Demonstrating Revenue Growth and Business Momentum
Demonstrating Revenue Growth and Business Momentum 2021 Revenue Growth and Evolution 70 $62.6 million Total Revenue Strengthened our Foundations • Evolved our business model and $14.7 go-to-market strategy $46.3 million Total Revenue USD (millions) • Added key leadership $7.9 40 • Expanded and stren
Slide 10: 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 Value Streams Path to Home International / Geographic Expansion Butterfly iQ+ is a prescription device intended for qualified healthcare profess
Slide 11: Advancing Execution and Impact
Advancing Execution and Impact Core principles applied across strategic pillars to drive adoption Health Systems International Expansion Home Adjacent Value Streams Path to Home Easy. Everywhere. Economical. International / Geographic Expansion Butterfly iQ+ is a prescription device intended for qua
Slide 12: Butterfly Makes it Easier to Add Clinical Insight
Butterfly Makes it Easier to Add Clinical Insight Designed to deliver better, more effective care with limited training Point-of-Care Ultrasound Use by EMS Providers in Out-of-Hospital Cardiac Arrest ● Ultrasound is not traditionally utilized by paramedics and most paramedics do not have ultrasound
Slide 13: Advancing Execution and Impact
Advancing Execution and Impact Core principles applied across strategic pillars to drive adoption Health Systems International Expansion Home Adjacent Value Streams Path to Home Easy. Everywhere. Economical. International / Geographic Expansion 13
Slide 14: Butterfly Can be Used Everywhere Care is Needed
Butterfly Can be Used Everywhere Care is Needed Bringing emergency care to rural communities 14
Slide 15: Launched Butterfly Blueprint Solution
Health Systems Launched Butterfly BlueprintTM Solution A system-wide ultrasound platform designed for seamless integration into health systems and built for scale Built for you. Built for the future of care. 15
Slide 16: Launched URMC Partnership to Demonstrate the Power of Butterfly at Scale
Health Systems Launched URMC Partnership to Demonstrate the Power of Butterfly at Scale Multi-year deployment Building Blocks Deploy Butterfly Blueprint™ at scale including both software infrastructure and thousands of probes across the URMC system Education Integrate Butterfly into education, both
Slide 17: Butterfly International: Developed to Developing
International Expansion Butterfly International: Developed to Developing 17 17
Slide 18: Same Information, Same Quality, Regardless of Care Setting
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 19: Transforming Care in Veterinary Medicine
Adjacent Value Streams Transforming Care in Veterinary Medicine 19
Slide 20: Investing in Long-Term Growth Initiatives in 2022
Investing in Long-Term Growth Initiatives in 2022 iQ+ Probe User Interface Education Blueprint Sales Capabilities Accelerate our Prove Butterfly’s value Innovation that drives ability to innovate to through a wide range Butterfly as the practical meet market needs. of clinical studies. application o
Slide 21: Q4 and Full Year 2021 Financials
Q4 and Full Year 2021 Financials
Slide 22: Total Q4 2021 Revenue Growth of 21% Year-over-Year
Total Q4 2021 Revenue Growth of 21% Year-over-Year $19.0 million total revenue in Q4 2021 25 $19.0 million Total Revenue 6,714 Total Units $4.6 Year-over-Year Growth $15.7 million Total Revenue USD (millions) 7,553 Total Units 15 $3.1 15% Product Revenue $14.4 46% Subscription Revenue $12.5 21% Over
Slide 23: Total Full Year 2021 Revenue Growth of 35% Year-over-Year
Total Full Year 2021 Revenue Growth of 35% Year-over-Year $62.6 million total revenue in 2021 70 $62.6 million Total Revenue $14.7 Year-over-Year $46.3 million Total Revenue Growth USD (millions) $7.9 40 25% Product Revenue $47.9 86% Subscription Revenue $38.3 35% Overall Revenue 0 FY 2021 FY 2020 P
Slide 24: Q4 and FY 2021: Solid Gross and Adjusted Margins and Cash Position
Q4 and FY 2021: Solid Gross and Adjusted Margins and Cash Position Selected Financials (Dollars in Millions) – Q4 and FY 2021 Compared to Q4 and FY 2020 USD (millions) Q4 2021 Q4 2020 FY 2021 FY 2020 Gross Profit $7.5 $8.7 $17.1 ($61.2) - Gross Margin (Loss) 39.7% 55.6% 27.3% (132.4%) Adjusted Gross
Slide 25: Full Year 2022 Guidance
Full Year 2022 Guidance A reconciliation of Adjusted EBITDA and Adjusted gross margin to corresponding GAAP measures 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
Slide 26: Butterfly Makes it Possible and Practical
Butterfly Makes it Possible and Practical All Healthcare Workers From Nurse to Physician All specialties From Primary Care All Care Venues to Critical Care From Hospital to Home Extensive Unprecedented Versatility Versatility Economic Values All Levels of Experience From Revenue From Novice to Exper
Slide 27: Thank you.
a Thank you.
Slide 28: 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 non