Butterfly Network, Inc. · NYSE:BFLY
Butterfly Network — CG MedTech, Diagnostics and Digital Health & Services Forum (November 2024)
28 slides from Butterfly Network's conference presentation, Nov 21, 2024
Slide 1: Butterfly Network Business Overview
Butterfly Network Business Overview November 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, consequent
Slide 3: Transforming Care with the World's First Complete Ultrasound-on-Chip Solution
Transforming Care with the World’s First Complete Ultrasound-on-Chip™ Solution. Q3 2024 Performance ● Delivered Quarterly Revenue of $20.6mm, 33% YoY Growth ● Increased Revenue Guidance & Improved Adjusted EBITDA Guidance for the Fiscal Year 2024 to: ○ Revenue: $79mm-$81mm or over 20% growth ○ Adjus
Slide 4: The power of semiconductors
Market Opportunity The power of semiconductors. Supercomputers Ultrasound carts to to iPhone. Butterfly. 4
Slide 5: Butterfly Ultrasound-on-Chip has brought the benefits of digital processing to ultrasound
Market Opportunity Butterfly Ultrasound-on-Chip™ has brought the benefits of digital processing to ultrasound for the first time ever. One probe, whole-body bandwidth. Emulates sector, linear, and curved arrays; replaces 3+ PZT probes. Unmatched versatility and portability. 1,000+ channels of ultras
Slide 6: We're Transforming Patient Care Across the Globe
Market Opportunity We’re Transforming Patient Care Across the Globe Governance: putting Social: serving our Environmental: doing ethics first people, globally right by our planet ✓ Experienced Board of Directors & ✓ Dedicated Global Health Program ✓ Waste-Conscious Product Design Executive Managemen
Slide 7: Butterfly Unlocks Economic and Clinical Benefits for Better Health Care
Market Opportunity Butterfly Unlocks Economic and Clinical Benefits for Better Health Care. University of Rochester Medical Center Boosts Diagnostic Accuracy and Workflow Efficiency with Our Enterprise Ultrasound Solution On average, POCUS use eliminated $1134.31 of additional testing for privately
Slide 8: Just as digital cameras disrupted film, Butterfly is revolutionizing ultrasound
Market Opportunity Just as the digital cameras disrupted the film camera industry, Butterfly is revolutionizing the ultrasound industry. Analog camera Digital camera on with film semiconductor chip Analog ultrasound with Digital ultrasound on piezoelectric crystals semiconductor chip 8
Slide 9: Our Award-Winning Handheld Solution, iQ3, is Fit for Use Across Care Venues
Market Opportunity Primary Care Emergency Hospitals Medicine Anesthesiology Outpatient Practices Our Award-Winning Musculoskeletal Specialty Groups Handheld Solution, iQ3, is Fit for Use Specialty Surgery Post-Acute Care Across Care Venues Hospitalists Homecare Providers Cardiology Nursing Radiology
Slide 10: The Operating System Every Hospital Needs: Butterfly iQ3 with Compass
Market Opportunity The Operating System Every Hospital Needs: Butterfly iQ3 with Compass™ Workflow Billing Easily document, review and QA Increase your percentage of scans from anywhere, on any billable ultrasound exams & device. reduce phantom scanning. Storage & Security Interoperability Unlimited
Slide 11: Combined into an Integrated Ecosystem
Market Opportunity Compass Workflow Management App Combined into an Integrated Ecosystem Mobile App Device Agnostic Encounter-Based Workflow Encounter-Based Workflow Hospital IT Integration 11
Slide 12: The Ultrasound-on-Chip Evolution iQ, iQ+, iQ3
Our Execution Plan The Ultrasound-on-Chip™ Evolution iQ iQ+ iQ3 Chip Version P2.0 P4.1 P4.3 Data Rate 4.8Gb/s 4.8Gb/s 9.6Gb/s MI @ 1.5MHz 1x (baseline) 1x 1x CPU (Count x Freq) 1x @ 100Mhz 1x @ 100Mhz 2x @ 600Mhz DSP (Count x Freq) 16x @ 100Mhz 16x @ 100Mhz 16x @ 100Mhz Compute CSPS 1.6 billion 1.6
Slide 13: The Ultrasound-on-Chip Evolution iQ3, iQ4, X
Our Execution Plan The Ultrasound-on-Chip™ Evolution iQ3 iQ4 X Chip Version P4.3 P5.0 A1.0 Data Rate 9.6Gb/s 9.6Gb/s 240Gb/s MI @ 1.5MHz 1x 2x 2x CPU (Count x Freq) 2x @ 600Mhz 2x @ 600Mhz 1x @ 1Ghz DSP (Count x Freq) 16x @ 100Mhz 16x @ 100Mhz 128x @ 1Ghz Compute CSPS 1.6 billion 1.6 billion 128 bil
Slide 14: Today's Global Ultrasound Market
Our Execution Plan Today’s Global Ultrasound Market Compact Handheld ultrasound Low-end cart Mid-range cart High-end cart Premium cart ultrasound carts ultrasound ultrasound ultrasound ultrasound system (Low, Mid & system system system system (Digital and piezo) Premium) Pocket-sized Compact Cart sy
Slide 15: Unlocking the Inevitable Ubiquity of Ultrasound as our Product Portfolio Expands
Our Execution Plan Unlocking the Inevitable Ubiquity of Ultrasound as our Product Portfolio Expands We’re also building a new TAM… aw ’s L 1 device per doctor, nurse & Total Addressable Market Pregnancy/CHF/Bladder patient ore Mo $350B+ TAM Worldwide Homecare and LTC facilities (bladder + lung) Hosp
Slide 16: Continue to Drive POCUS into Medical Education at All Levels
Our Execution Plan Continue to Drive POCUS is into Medical Education at All Levels • 73% of U.S. Medical Schools have ultrasound in their curriculum • 1 probe per student model is expanding • The majority of medical specialties now require POCUS training in residency programs, including Family Medic
Slide 17: Boost Competency with AI-Assisted Practice
Our Execution Plan Boost Competency with AI-Assisted Practice 17
Slide 18: Medical Education Momentum with ScanLab
Our Execution Plan Medical Education Momentum with ScanLab™ https://www.prnewswire.com/news-releases/kansas-city-university-sets-new-standard-in- point-of-care-ultrasound-education-with-ai-guided-training-curriculum-302268356.html
Slide 19: Make Image Acquisition Easier… What if Ultrasound was as Easy as CT?
Our Execution Plan Make Image Acquisition Easier… What if Ultrasound was as Easy as CT? 19
Slide 20: Slide 20
Slide 21: Connecting the Best AI to Our Leading Install Base of POCUS Users
Our Execution Plan Connecting the Best AI to Our Leading Install Base of POCUS Users. 1st partner app live! 2nd partner app live! HeartFocus FAMLI Southwood iCardio AI BarrelEye The Abu- Mostafa DeepEcho group at UltraSight U. Maryland Baltimore 21
Slide 22: Progressing our Butterfly HomeCare Services Business
Our Execution Plan Progressing our Butterfly HomeCare Services Business Developing a robust homecare services business that will not only open up new channels for Butterfly, but further differentiates us from our competitors. First opportunities will target Heart Failure and Neurogenic Bladder manag
Slide 23: The Future Driven By Chip-Enabled Ultrasound Technology
A Wholly-Owned Subsidiary Compact Affordable Whole-body The Future Driven By Chip- 3D Enabled Ultrasound Technology ✓ 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
Slide 24: A New Paradigm for Ultrasound-on-Chip Innovation
A Wholly-Owned Subsidiary A New Paradigm for Ultrasound-on-Chip™ Innovation Limitless Applications, Unlocking Massive, Growing TAMs Wearables Implantables >$30BN TAM >$115BN TAM And a world of non- >$10BN SAM >$25BN SAM medical applications… Interventional Therapeutics >$100BN TAM >$80BN TAM >$20BN
Slide 25: 2024 Strategic Pillars
Butterfly Financials 2024 Strategic Pillars Strengthen Core Expand Differentiate Generate ● Transform standard of ● Continue investing in ● Penetrate further into care through new our Ultrasound-on-Chip™ ● 2024 Guidance: $75- Hospitals, Clinic, applications and AI 80mm or 15-20% growth powered tools
Slide 26: Our Growth Trajectory
Butterfly Financials Our Growth Trajectory Expected cash $500mm+ in flow breakeven revenue Disclaimer: graph not to scale. 26
Slide 27: Looking Ahead
Looking Ahead ● Butterfly Network is poised to continue to disrupt the point of care ultrasound market using its unique semiconductor technology. ● Our investments in hardware and software product development, and in commercial success remain robust. ● Butterfly continues to expect additional large
Slide 28: Thank you! Questions?
Thank you! VERSATILE. AFFORDABLE. DIGITAL. Questions? Ultrasound-on-Chip TM Versatile Handheld Intuitive Software AI, workflow, and Professional Services Platform With >20 presets on a Dedicated support to educational tools to drive 600 patents issued single, whole-body organizations from day and pe