Butterfly Network, Inc. · NYSE:BFLY
Butterfly Network — Q4 2022 Earnings Presentation
17 slides from Butterfly Network's earnings presentation, Feb 28, 2023
Slide 1: Q4 2022 Earnings Call
Q4 2022 Earnings Call February 28th, 2023
Slide 2: Legal Statements
Legal 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 e
Slide 3: Our Mission and Vision
Our Mission. To democratize healthcare by making medical imaging accessible to everyone. Our Vision. That all people, everywhere, get the right care, driven by the right clinical decisions at the right time.
Slide 4: The Butterfly Solution
The Butterfly Solution Butterfly completes the information gap with powerful insights, delivered in an intuitive and easy way… To a complete solution Our comprehensive solution unlocks the true potential of ultrasound information once and for all. Hardware From innovation Ultrasound-on-Chip Platform
Slide 5: Easy. Everywhere. Economical.
Butterfly Goes Where POCUS Cannot Go… By making Butterfly easy, and demonstrating its economic value, we will go where competitors cannot… Health Systems International Expansion Home Adjacent Value Streams Path to Home Easy. Everywhere. Economical. International / Geographic Expansion Butterfly’s ac
Slide 6: Butterfly's Product Portfolio is Evolving to Fit the Needs of All Our Customers
Butterfly’s Product Portfolio is Evolving to Fit the Needs of All Our Customers A fit-to-purpose product portfolio will drive clinical practice improvements and widespread adoption… Ultrasound Experts All Clinicians Patient & Caregiver Clinicians trained on Clinicians without No ultrasound knowledge
Slide 7: Only Butterfly Has the Technology Platform for Rapid Portfolio Development
Only Butterfly Has the Technology Platform for Rapid Portfolio Development… Ultrasound Experts All Clinicians Patients and Caregivers B lines detected Today: 2023 Phase I: 12-24 Phase II: 24-36 months months Software Infrastructure Ultrasound-on-chip Fully Integrated CMOS Versatile ● Device ● Whole
Slide 8: Butterfly is Disrupting and Expanding the Traditional TAM
Butterfly is Disrupting and Expanding the Traditional TAM By making Butterfly easy, and proving its economic value, we will go where traditional POCUS can’t and become as ubiquitous as the stethoscope… Phase II: BFLY as ubiquitous as the Stethoscope TAM Value ($) ~$100BN*** Phase I: BFLY as Advanced
Slide 9: Why Butterfly: Health Systems & Medical Education
Health Systems & Medical Education Why Butterfly Health Systems are adopting Butterfly’s enterprise software solution to deploy our portfolio of products at historic scale The Butterfly Enterprise Solution Butterfly Blueprint™ provides a system-wide ultrasound platform integrated seamlessly into cli
Slide 10: Why Butterfly: International Expansion
International Expansion Why Butterfly Butterfly is solving the information gap at scale in developed and developing countries The Butterfly Global Health Solution Our team now has the end-to-end (HW, SW, Education and AI) capabilities and solution to train thousands of practitioners anywhere A.I. Re
Slide 11: Why Butterfly: Home
Home Why Butterfly Butterfly will deliver powerful clinical information from the home to patients and practitioners alike We see the home as the final frontier for Butterfly to deliver powerful clinical insights for millions of patients suffering from chronic conditions… Key Applications for patient
Slide 12: Why Butterfly: Adjacent Value Streams
Adjacent Value Streams Why Butterfly Butterfly is solving the information gap in Veterinary Medicine and becoming part of the standard physical exam… The Butterfly Veterinary Opportunity Butterfly is transforming Veterinary Medicine by empowering Veterinarians with clinical insights and information
Slide 13: Q4 2022 Financials
Q4 2022 Financials 13
Slide 14: Total Revenue Flat Year-over-Year
Total Revenue Flat Year-over-Year $19.0 million total revenue in Q4 2022 $19.0 million Total Revenue $19.0 million Total Revenue 20 $4.6 Year-over-Year $6.3 Growth/(Decline) in Q4 USD (millions) (12%) Product Revenue 10 38% Subscription Revenue $12.7 $14.4 Flat Overall Revenue 0 Q4 2022 Q4 2021 Prod
Slide 15: Q4 2022: Consistent Adjusted Margins and Strong Cash Position
Q4 2022: Consistent Adjusted Margins and Strong Cash Position Selected Financials (Dollars in Millions) – Q4 2022 Compared to Q4 2021 USD (millions) Q4 2022 Q4 2021 Gross Profit $9.6 $7.5 - Gross Margin 50.3% 39.7% Adjusted Gross Profit (Loss)* $10.3 $7.5 - Adjusted Gross Margin 54.5% 39.7% Adjusted
Slide 16: Full Year 2023 Guidance
Full Year 2023 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 17: Thank you.
a4 Thank you.