Butterfly Network, Inc. · NYSE:BFLY
Butterfly Network — FY2020 Earnings Presentation
19 slides from Butterfly Network's earnings presentation, Mar 29, 2021
Slide 1: 2020 Earnings Call
\é Butterfly” The New Image of Health 2020 Earnings Call Speakers: Dr. Todd Fruchterman, President & CEO Stephanie Fielding, CFO March 29, 2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements x4 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, e
Slide 3: Introduction
Introduction Dr. Todd Fruchterman, President & CEO
Slide 4: A Disruptive Fusion of Hardware and Software
A Disruptive Fusion of Hardware and Software Next-generation of imaging that is affordable, portable and connected. Powered by Ultrasound-on-Chip™ a o ej o a a. * % eZ W Connected Solution nd-ONn-Chip 7, so" ip ™ rt aL, Ne (° Ss Edu Content A solution that delivers vital information across multiple
Slide 5: Our Mission is to Democratize Medical Imaging
Our Mission is to Democratize Medical Imaging ry Improving healthcare access to support global health equity. of the world has no access to of diagnostic dilemmas can be 2/3 medical imaging? 2/3 addressed through simple imaging?
Slide 6: 2020 Performance
2020 Performance
Slide 7: Introducing Butterfly iQ+
Introducing Butterfly iQ+ Our next-generation Ultrasound-on-Chip™ technology. “F Less expensive to produce “- Faster frame rates “F Longer battery life +F Smaller probe head -- Improved interoperability
Slide 8: Butterfly and The American College of Cardiology Collaborate
Butterfly and The American College of Cardiology Collaborate The partnership will aim to transform cardiovascular care. ™ AMERICAN y4 Butterfly + © COLLEGE of The New Image of Health CARDIOLOGY a6
Slide 9: Strategic Partnership with Ilara Health in Kenya
Strategic Partnership with llara Health in Kenya llara will partner with Butterfly to leverage TeleGuidance™ to remotely assist clinicians. ILARA HEALTH llara Health has developed a platform that integrates low-cost diagnostic devices that target a wide range of health indications. This provides low
Slide 10: Butterfly Completes Business Combination with Longview
Butterfly Completes Business Combination with Longview BFLY now trading on the New York Stock Exchange. a6 10
Slide 11: Foundational Near-term Goals to Drive Commercial Growth
Foundational Near-term Goals to Drive Commercial Growth ai HUMAN CAPITAL 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 Ali
Slide 12: The Potential of POCUS with Butterfly
The Potential of POCUS with Butterfly ry Butterfly plans to expand POCUS use cases and unlock new care settings. Expanded Care Settings New users adopting POCUS Traditional Scan Settings Hospital Niche Doctor . ' ‘tai Offices Imaging Centers Primary Care Hospitalists we Orthopedics Cardiology Potent
Slide 13: Decision-Making at the Point-of-Care Can Significantly Impact Patient Care
Decision-Making at the Point-of-Care Can Significantly Impact Patient Care y¢4 Butterfly has the potential to revolutionize and simplify care delivery. In the past, we used a stethoscope and listened. With Butterfly, we can see and know. 13
Slide 14: 2020 Financials
2020 Financials
Slide 15: Total Revenue Growth of 68% Year-over-Year
Total Revenue Growth of 68% Year-over-Year $46.3 million total revenue in 2020. $46.3 Total Revenue 20,208 Total Units 50 $27.6 Total Revenue 12,941 Total Units USD (millions) N u 2019 2020 ™ Product Revenue Il Subscription Revenue Due to rounding, numbers presented may not add up precisely to the t
Slide 16: Cost of Revenue Increased to $107.5 million, Including Non-Recurring Changes
Cost of Revenue Increased to $107.5 million, Including Non-Recurring Changes $62.7 million of 2020 non-recurring charges include a $60.1 million loss on purchase commitments. $107.5 Total Cost of Revenue $1.1 a6 100 ~ $62.7 2 Non-Recurring 2 Charges E $48.5 Total Cost of Revenue a 50 06 Year-over-Ye
Slide 17: FY2020 Financial Growth
FY2020 Financial Growth Summary of profit and operational spend for 2020 relative to 2019. USD (millions) Gross Profit (Loss) Operating Expenses Loss from Operations Net Loss Adjusted EBITDA* Adjusted Gross Profit (Loss)* 2020 (61.2) 100.4 (161.6) (162.7) (85.2) 1.6 2019 (20.9) 81.4 (102.3) (99.7) (
Slide 18: 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 EBITDA, adjusted EBITDA and Adjusted Gross Margin, which are non-GAAP measures. Management uses these non-GAAP measures
Slide 19: Thank you
}¢ Butterfly” Thank you