Butterfly Network, Inc. · NYSE:BFLY
Butterfly Network — 44th Annual J.P. Morgan Healthcare Conference (January 2026)
31 slides from Butterfly Network's conference presentation, Jan 15, 2026
Slide 1: Unlocking Ultrasound at Scale in the AI infrastructure
Unlocking Ultrasound at Scale in the AI infrastructure. 44th Annual J.P. Morgan Health Conference January 15, 2026
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements in this presentation include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward -looking statements by terminology
Slide 3: The Butterfly Journey
The Butterfly Journey iQ (2018 – Poseidon 2.0) • First commercial-ready chip, iQ3 (2024 – Poseidon 4.3) Butterfly Network founded solving key technical barriers • Improved image quality with the mission to democratize • Parity to Piezos medical imaging iQ+ (2020 – Poseidon 4.0) • Enhanced capabiliti
Slide 4: Butterfly Ultrasound-on-Chip: More Capability, One Probe
Butterfly Ultrasound-on-Chip : More Capability, One Probe. Compact 3 traditional Affordable arrays Whole-body 3D imaging modes Advanced Supercomputers to iPhone. Ultrasound carts to Butterfly. Just as the digital cameras Butterfly aims to revolutionize disrupted the film camera industry… the ultraso
Slide 5: Butterfly Featured on Season 1, Episodes 12 and 13
Butterfly Featured on Season 1, Episodes 12 and 13 5
Slide 6: More Care Venues
Primary Care iQ3: Award-Winning Emergency Medicine Hospitals Handheld Ultrasound for Anesthesiology Outpatient Practices More Care Venues Musculoskeletal Specialty Groups Specialty Post-Acute Surgery Care Homecare Hospitalists Providers Cardiology Nursing Radiology Global Health Partners Veterinary
Slide 7: More Intelligent with AI
More Intelligent with AI-powered enterprise software designed to move POCUS from underutilized tool to connected, compliant, revenue-ready system. 7
Slide 8: More Documented
More Documented Voice to auto-documentation in seconds — giving clinicians back valuable time, reducing after-hours work, and removing one of the biggest barriers to POCUS adoption: the documentation process.
Slide 9: End-to-End Compliance with a Holistic Enterprise Solution
More End-to-End Compliance with a Holistic Enterprise Solution Workflow Manager Education & Training Device iQ3 Agnostic Orders or encounters-based workflows Butterfly Academy educational videos with or without attestation. and Proficiency Management . Encounter-Based Workflow Interoperability Imple
Slide 10: More Open with Butterfly Garden
More Open with Butterfly Garden Butterfly’s Software Development Kit (SDK) enables third parties to build tailored ultrasound AI solutions leveraging our real-time imaging, workflows and secure cloud integration. Access an all-in-one Developer’s Package Create with the Butterfly platform, the world’
Slide 11: AI-powered Apps Compatible with Butterfly
AI-powered Apps Compatible with Butterfly • 25+ portfolio companies • First FDA-cleared app live in the Apple app store • Educational apps available for download • BREAKING: Butterfly Network to Extend its Proprietary 3D Imaging Capabilities to Butterfly Garden Developers (Press Release) 11
Slide 12: More Accessible, One App at a Time
More Accessible, One App at a Time Access Guided Diagnostic- Learn to Assess for Learn to Identify Key Peripheral quality Heart Scans Deep Vein Thrombosis Anatomy 12
Slide 13: More Growth with a Strategic Plan to Drive the Core Business
More Growth with a Strategic Plan to Drive the Core Business • Next-generation devices and workflow software targeting deeper hospital adoption • Services business, AI tools and education aimed at expanding into ambulatory settings and to lower-cost care teams D EV IC ES SOFTW ARE SERVICES Home & Lo
Slide 14: The convergence of AI and the human body
The convergence of AI and the human body. Butterfly’s semiconductor architecture can be used as a gateway into the body for diagnostics, therapy and human integration. 14
Slide 15: More Market Disruption
More Market Disruption Leveraging Ultrasound-on-Chip in New Technologies Compact Affordable Whole-body 3D 15
Slide 16: AI at the Edge
AI at the Edge Edge devices embedded with AI, sensing and compute will bring real time intelligence to every experience, service and system — including the human body. 16
Slide 17: AI is advancing from logic to perception
AI is advancing from logic to perception. Butterfly’s chip can help that paradigm shift. Smart spaces & ambient AI are transitioning from concept to reality 17
Slide 18: AI is advancing from logic to perception
AI is advancing from logic to perception. Butterfly’s chip can help that paradigm shift. Smart spaces & ambient AI are transitioning from concept to reality… in healthcare, too. 18
Slide 19: AI is advancing from logic to perception
AI is advancing from logic to perception. Butterfly’s chip can help that paradigm shift. Rapid growth of vision-based AI applications 19
Slide 20: More Opportunity. One Platform.
One Platform. Primary Care More Opportunity. Emergency Hospitals Medicine Anesthesiology Outpatient Practices Musculoskeletal Specialty Groups POCUS Specialty Post-Acute Care Surgery Homecare Hospitalists Providers Cardiology Nursing Radiology Global Health Partners Veterinary 20
Slide 21: More Opportunity: non-healthcare POCUS applications
One Platform. …and a world More Opportunity. of non-healthcare POCUS applications Patient Tomo- Battery Regeneration Monitoring graphy Material Stress Fish Finding Underwater Drones Consumer Products Neuro- Security Pharma modulation Military & BCI Wearables Butterfly Ultrasound-on-Chip Therapy Robo
Slide 22: More Opportunity, More Value: >$350 Billion in Healthcare
More Opportunity, More Value. >$350 Billion Opportunity in Healthcare Alone Handheld POCUS >2BN Hospital Cart Ultrasound Therapeutics >$6.5BN >$80BN Interventional Implantable >$100BN >$115BN Home & Long-term Care Facilities (lung and bladder) ~20BN Wearables >$30BN POCUS/Ultrasound Data: Global ult
Slide 23: A New Wave of Ultrasound-enabled Technologies
A New Wave of Ultrasound-enabled Technologies • Compact, cost-effective, power-efficient, immensely capable • 9,000 element 2D Matrix Array for 3D imaging • Ultra-wide frequency range (1-12MHz) • 25,000 concurrent 4K movie streams • 1 Trillion operations per second Photo: Jordan Harrison/Pexels 23
Slide 24: More Innovation: Ultrasound-on-Chip Poseidon Family
More Innovation: Ultrasound-on-Chip Poseidon Family Probe Version 24
Slide 25: More Innovation: Ultrasound-on-Chip Poseidon Family
More Innovation: Ultrasound-on-Chip Poseidon Family Butterfly P5.1 Mindray M8 Cart 25
Slide 26: More Innovation: Ultrasound-on-Chip Apollo Family
More Innovation: Ultrasound-on-Chip Apollo Family \ 26
Slide 27: NVIDIA Case Study: Solving World-Changing Problems
NVIDIA Case Study: Solving World-Changing Problems Pioneering Technology Define the Category NVIDIA Revenue Evolution: Gaming vs. Chip (Data Center) Business Gaming Programmable by Design Open & Empower the Platform CUDA & GPU Revenue (USD Billions) World-changing Ecosystem Expand & Scale Out to New
Slide 28: 8 deals to date, 40+ companies in pipeline
Item 1.01. Entry into a Material Definitive Agreement 8 deals to date, including BCIs, robotics, November 17, 2025 liver assessment, and more. Under the terms of the Agreement, Midjourney will pay the Company a one-time non-recurring fee of $15 million and a $10 million annual license fee, payable q
Slide 29: Demonstrated Growth and Financial Discipline
Demonstrated Growth and Financial Discipline ● Preliminary unaudited Q4 revenue growth of at least 17%. ● Q4 2025 Earnings Call: Thursday, February 26, 8:00 am EST USD (millions) FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 Revenue ($) 73.4 65.9 82.1 92.0+ Adjusted Gross Margin 54.8% 58.8% 59.6% 63.6%* A
Slide 30: Key Investment Highlights
Key Investment Highlights Proven Core Commercial Business Demonstrated Revenue Growth and 1 as an Ultrasound Market Disruptor 3 Financial Discipline Market disrupting point-of-care handheld device, powered by Poised to drive rapid expansion through continued revenue growth proprietary semiconductor
Slide 31: Thank you!
Thank you! Ultrasound-on-ChipTM Versatile Handheld Intuitive Software Platform With >20 presets on a single, AI, workflow and educational 600+ patents issued whole-body probe tools to drive ultrasound use and pending and adoption ir.butterflynetwork.com investors@butterflynetinc.com Headquarters Pro
Butterfly Network — 44th Annual J.P. Morgan Healthcare Conference (January 2026) on 6ix