Slide 1: Q3 2022 Earnings Call
Q3 2022 Earnings Call November 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 Integrated Blueprint Solution Resonates with Health Systems
Health Systems Butterfly's Integrated Blueprint Solution Resonates with Health Systems Closed deals in major health systems and continuing to embed in major academic institutions • Butterfly's integrated Blueprint solution (with iQ+ probes, Compass software and Client Experience offering) is showcas
Slide 7: Continued Progress Across our Strategic Pillars
Continued Progress Across our Strategic Pillars International Expansion Adjacent Markets Home • Continued progress on our • Expanded 4-year partnership with • Kicked off a clinical study for Texas Tech University (TTU) heart failure patients with the partnership with Bill & Melinda School of Veterin
Slide 8: Q3 2022 Financials
Q3 2022 Financials 8
Slide 9: Total Revenue Growth of 34% Year-over-Year
Total Revenue Growth of 34% Year-over-Year $19.6 million total revenue in Q3 2022 $19.6 million Total Revenue 20 $6.5 $14.6 million Total Revenue Year-over-Year Growth in Q3 USD (millions) $3.8 10 21% Product Revenue $13.2 $10.8 71% Software & Other Services Revenue 34% Overall Revenue 0 Q3 2022 Q3
Slide 10: Q3 2022: Consistent Adjusted Margins and Strong Cash Position
Q3 2022: Consistent Adjusted Margins and Strong Cash Position Selected Financials (Dollars in Millions) – Q3 2022 Compared to Q3 2021 USD (millions) Q3 2022 Q3 2021 Gross Profit (Loss) $11.0 ($5.1) - Gross Margin 56.0% (35.0%) Adjusted Gross Profit (Loss)* $12.0 $7.2 - Adjusted Gross Margin 61.2% 49
Slide 11: 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 12: Thank you
Thank you 12
Slide 13: 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