Slide 1: Q2 2021 Earnings Call
\¢@ Butterfly” ‘The New Image of Health Q2 2021 Earnings Call August 9, 2021
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: Dr. Todd Fruchterman, President & CEO
Dr. Todd Fruchterman, President & CEO 3
Slide 4: Butterfly Makes it Possible… to Reimagine Care
Butterfly Makes it Possible… to Reimagine Care 4
Slide 5: Study Demonstrated Feasibility of Patient Self-Exams with Butterfly
Study Demonstrated Feasibility of Patient Self-Exams with Butterfly In this study, heart failure patients were trained to self-perform a lung ultrasound exam using Butterfly After a brief training session, most patients were able to perform their own lung ultrasounds at home that could be interprete
Slide 6: Q2 2021 Performance
Q2 2021 Performance
Slide 7: Second Quarter Revenue Growth 2020 vs. 2021
Second Quarter Revenue Growth 2020 vs. 2021 20 $16.5 million Total Revenue 6,485 Total Units $3.5 $11.8 million Total Revenue USD (millions) 4,997 Total Units $1.8 10 $13.0 $10.0 0 Q2 2021 Q2 2020 Product Revenue Subscription Revenue Due to rounding, numbers presented may not add up precisely to the
Slide 8: Foundational Near-Term Goals to Drive Commercial Growth
Foundational Near-Term Goals to Drive Commercial Growth Talent Drive innovation with additional horsepower in commercial, regulatory, operations and development Clinical Partnerships Broaden partnerships with clinical leaders to unleash the full potential of Butterfly Payor Alignment Align with payo
Slide 9: Q2 Updates on Foundational Near-Term Goals
Q2 Updates on Foundational Near-Term Goals Talent Strengthened key technical roles to boost innovation capacity Clinical Partnerships Payor Alignment Commercial Expansion Presence in 100+ medical education schools and signed largest distributor relationship to date in Asia Innovation New OB/GYN solu
Slide 10: Growing Our Team
Growing Our Team Andrei Stoica David Ramsey Chief Technology Officer Chief Information Officer 10
Slide 11: Commercial Expansion: "Butterfly from the Beginning"
Commercial Expansion: “Butterfly from the Beginning” • Butterfly is now present in more than 100 medical education schools • The Lewis Katz School of Medicine at Temple University distributed Butterfly iQ+ to all of their first-year medical students at their white coat ceremony 11
Slide 12: Commercial Expansion: International Partnership
Commercial Expansion: International Partnership • Established a partnership with Chindex Medical, a leading distributor in Hong Kong • Our partnership with Chindex creates the largest distributor relationship to date in Asia, solidifying a substantial multi-year commercial commitment for the Hong Ko
Slide 13: Innovation: Addressing Affordability, Accessibility and Ease of Use
Innovation: Addressing Affordability, Accessibility and Ease of Use • Launched new solutions in the obstetrics and maternity space that will be delivered through the iQ+ platform to drive universal availability of accessible and affordable ultrasound to reduce maternal and fetal mortality • Educatio
Slide 14: Q2 2021 Financials
Q2 2021 Financials
Slide 15: Total Revenue Growth of 40% Year-over-Year
Total Revenue Growth of 40% Year-over-Year $16.5 million total revenue in Q2 2021 20 $16.5 million Total Revenue 6,485 Total Units $3.5 Year-over-Year Growth $11.8 million Total Revenue in Q2 USD (millions) 4,997 Total Units $1.8 10 30% Product Revenue $13.0 94% Subscription Revenue $10.0 40% Overal
Slide 16: Total Cost of Revenue Decreased 29% Year-over-Year
Total Cost of Revenue Decreased 29% Year-over-Year $8.3 million total cost of revenue in Q2 2021 $11.6 million Total Cost of Revenue $0.2 10 $8.3 million Total Cost of Revenue Year-over-Year Cost $0.4 of Revenue Change USD (millions) $11.4 (31%) Product-Related 5 $7.9 80% Subscription-Related (29%)
Slide 17: Q2 2021: Solid Margins and Cash Position
Q2 2021: Solid Margins and Cash Position Selected Financials (Dollars in Millions) – Q2 2021 Compared to Q2 2020 USD (millions) Q2 2021 Q2 2020 Gross Profit $8.2 $0.2 - Gross Margin 49.8% 1.4% Adjusted Gross Profit (Loss)* $8.3 $0.2 - Adjusted Gross Margin 50.2% 1.6% Operating Expenses $44.9 $23.2 L
Slide 18: Full Year 2021 Guidance
Full Year 2021 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 19: Butterfly Makes it Possible
Butterfly Makes it Possible 19
Slide 20: Thank you
Thank you nly
Slide 21: 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