Slide 1: Butterfly Network Q1 2024 Earnings Call
Butterfly Network Q1 2024 Earnings Call May 1, 2024
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. Our actual results may differ from our expectations, estimates, and projections and, consequentl
Slide 3: Q1 2024 Highlights
Transforming Care with the World’s First Complete Ultrasound-on-Chip™ Solution. Q1 2024 Highlights ● Achieved Butterfly’s best quarter in history. ● 14% revenue growth YoY, with 22% increase in probe volume – achieved more efficiently with half the cash spend as prior year. ● 19% revenue growth in the
Slide 4: Strong iQ3 Entry with Viral Buzz: 1,200+ iQ3's Sold in Only Half a Quarter
Strong iQ3 Entry with Viral Buzz: 1,200+ iQ3’s Sold in Only Half a Quarter 4
Slide 5: Advanced Tools Designed for Diagnostic Efficiency
Advanced Tools Designed for Diagnostic Efficiency Access at: www.butterflynetwork.com/resources 5
Slide 6: Strong Growth for Enterprise Software Upsells and Momentum in Individual Memberships
Strong Growth for Enterprise Software Upsells and Momentum in Individual Memberships Butterfly Compass™ at scale drives economic value for health systems. University of Rochester Medical Center saw… 116% inrevenue total POCUS hospital captured in two Increase years since system-wide Compass™ roll out
Slide 7: Pipeline Continues to Grow for Medical Education, with ScanLab Driving Adoption
Pipeline Continues to Grow for Medical Education, with ScanLab™ Driving Adoption Butterfly in U.S. Medical Education Programs 7
Slide 8: Strong Pipeline & Partner Progress – First Butterfly Garden App Launched
Update on the European Union’s Restriction of Hazardous Substances (RoHS) European Commission Confirmed Next Handheld Strong Pipeline & Partner Ultrasound Lead Exemption Progress – First Butterfly Review to Occur Garden App Launched! ~Q4 ‘24 - Q1 ‘25. 8
Slide 9: Returns to Growth, Exceeds Q1 Expectations and Raises Full Year Guidance
Returns to Growth, Exceeds Q1 Expectations and Raises Full Year Guidance USD (millions) Q1 2024 Q1 2023*** Change Revenue $17.7 $15.5 14% Adjusted Gross Margin 58.2% 58.7% (0.5) pts Operating expense $32.9 $44.1 (25%) Adjusted EBITDA Loss* $(13.2) $(22.3) 42% Cash, Cash Equivalents and Marketable Se
Slide 10: Butterfly has become a more efficient business, while investing in long-term growth
Butterfly has become a more efficient business, while investing in long-term growth and innovation. 10
Slide 11: Updates On Ongoing Supporting Initiatives
Updates On Ongoing Supporting Initiatives Received certification; launching Vet business continues to strengthen advanced features to iQ+ devices in through key partnerships with leading pet CE-mark countries this month. corporations and academia. Coming Soon! Launched phase 2 Gates-Funded deployment
Slide 12: Butterfly March 2024 Investor Day Key Takeaways
Butterfly March 2024 Investor Day Key Takeaways Butterfly Garden and Butterfly has a Butterfly is leading a Powered by Butterfly business plan in digital ultrasound are two programs place, and is revolution with its that will generate actively initiating robust R&D roadmap. meaningful revenue Butterfly fo
Slide 13: Thank you! Questions?
Thank you! Questions? 13