Butterfly Network Inc (BFLY)

Butterfly Network to Participate in TD Cowen’s Medical Devices Emerging Growth Call Series on June 18, 2026June 11, 2026 8:05 AM
Business Wire Webcast occurring at 12:00pm ET on Thursday, June 18, 2026. Butterfly Network, Inc. (NYSE: BFLY) (“Butterfly”), today announced that it will participate in the TD Cowen Medical Devices Emerging Growth Call Series at 12:00pm ET on June 18, 2026. Joseph DeVivo, President, Chief Executive Officer & Chairman; John Doherty, EVP, Chief Financial Officer and David Horsley, SVP, Innovation, will take part in the discussion. To register or access the audio-only webcast, visit the Events & Presentations section of the Butterfly investor website (https://ir.butterflynetwork.com/events-and-presentations). About Butterfly Network Butterfly Network, Inc. (NYSE: BFLY) is driving a digital revolution in ultrasound imaging and sensing with its proprietary Ultrasound-on-Chip™ semiconductor technology and software solutions. Butterfly first proved its technology in the point-of-care ultrasound market – commercializing the world’s first single-probe, whole-body portable ultrasound device, which is now on its best-selling, third-generation: Butterfly iQ3™. The Company combines its advanced hardware with cloud software and AI, an enterprise workflow solution (Compass AI™) and other offerings to drive adoption of affordable, accessible ultrasound. Butterfly also enables third-party development of imaging AI apps through Butterfly Garden™, its software development kit and AI marketplace. In addition to its medical imaging products, Butterfly Embedded™ is the Company’s Ultrasound-on-Chip™ licensing and co-development business initiative designed to enable a new wave of ultrasound-enabled technologies across non-competitive healthcare markets and beyond. Through Butterfly Embedded™, partners can build and scale novel ultrasound applications powered by Butterfly’s proprietary semiconductor chip and software platform. Butterfly’s innovations have been recognized by Prix Galien USA, Fierce 50, TIME’s Best Inventions and Fast Company’s World Changing Ideas, among other achievements. To learn more, visit: www.butterflynetwork.com View source version on businesswire.com: https://www.businesswire.com/news/home/20260611886389/en/ Investors:
John Doherty
Chief Financial Officer
investors@butterflynetinc.com Original: Butterfly Network to Participate in TD Cowen’s Medical Devices Emerging Growth Call Series on June 18, 2026

Butterfly Network to Participate in the William Blair 46th Annual Growth Stock ConferenceMay 21, 2026 4:05 PM
Business Wire The Company presentation will occur at 8:40 AM CT on Thursday, June 4, 2026 Butterfly Network, Inc. (NYSE: BFLY) (“Butterfly”), today announced that the company will participate at the William Blair 46th Annual Growth Stock Conference. Joseph DeVivo, President, Chief Executive Officer & Chairman and John Doherty, EVP, Chief Financial Officer will participate in a presentation breakout session at 8:40 AM CT on June 4, 2026, and host one-on-one investor meetings throughout the day. A webcast of the presentation will be available in the Events & Presentations section of the Butterfly investor website (https://ir.butterflynetwork.com/events-and-presentations). To schedule a one-on-one meeting with Butterfly management, please reach out to your William Blair representative. About Butterfly Network Butterfly Network, Inc. (NYSE: BFLY) is driving a digital revolution in ultrasound imaging and sensing with its proprietary Ultrasound-on-Chip™ semiconductor technology and software solutions. Butterfly first proved its technology in the point-of-care ultrasound market – commercializing the world’s first single-probe, whole-body portable ultrasound device, which is now on its best-selling, third-generation: Butterfly iQ3™. The Company combines its advanced hardware with cloud software and AI, an enterprise workflow solution (Compass AI™) and other offerings to drive adoption of affordable, accessible ultrasound. Butterfly also enables third-party development of imaging AI apps through Butterfly Garden™, its software development kit and AI marketplace. In addition to its medical imaging products, Butterfly Embedded™ is the Company’s Ultrasound-on-Chip™ licensing and co-development business initiative designed to enable a new wave of ultrasound-enabled technologies across non-competitive healthcare markets and beyond. Through Butterfly Embedded™, partners can build and scale novel ultrasound applications powered by Butterfly’s proprietary semiconductor chip and software platform. Butterfly’s innovations have been recognized by Prix Galien USA, Fierce 50, TIME’s Best Inventions and Fast Company’s World Changing Ideas, among other achievements. To learn more, visit: www.butterflynetwork.com View source version on businesswire.com: https://www.businesswire.com/news/home/20260521414684/en/ Investors:
John Doherty
Chief Financial Officer
investors@butterflynetinc.com Original: Butterfly Network to Participate in the William Blair 46th Annual Growth Stock Conference

Cardiac AI Diagnostics Stack Validation Wins Across Regulatory and Commercial FrontsMay 19, 2026 8:55 AM
PR Newswire (US) Issued on behalf of Ventripoint Diagnostics Ltd.A Toronto-based small-cap is converting clinical validation into real-world hospital deployments at the moment AI cardiac imaging procurement is reorganizing globallyNEW YORK, May 19, 2026 /PRNewswire/ -- USA News Group News Commentary — Cardiology has become one of the proving grounds for medical artificial intelligence, and the procurement environment around it has shifted hard in the last twelve months. Hospital networks are no longer content to evaluate clinical accuracy in isolation; they want department-level economic proof before they sign deployment contracts. That shift is reshaping which AI imaging companies can convert pilot data into recurring revenue, and which cannot. The companies winning right now are the ones stacking regulatory clearances, commercial partnerships, and reimbursement-friendly clinical evidence at the same time. Industry forecasts help frame the prize at stake. The artificial intelligence in cardiology market has been projected to grow from approximately US$2.78 billion in 2026 to roughly US$14.22 billion by 2034, representing a compound annual growth rate near 22.6% over the period.[1] Echocardiography alone — the most widely used cardiac imaging modality in the world — is forecast to expand to US$2.64 billion by 2030 as health systems demand cardiac platforms that prove economic value alongside clinical accuracy.[2]Read the full report of Ventripoint here: USA News Group Ventrpoint CoveragePortable ultrasound, valued at roughly US$2.79 billion in 2026, is pushing cardiac assessment beyond the imaging lab and into point-of-care settings where speed and cost efficiency determine which technologies earn long-term hospital contracts.[3]Inside that environment, Ventripoint Diagnostics Ltd. (TSXV: VPT) (OTC: VPTDF) has spent the first half of 2026 stringing together exactly the kinds of validation events that the new procurement environment rewards.The Toronto-headquartered company applies proprietary Knowledge Based Reconstruction technology to standard 2D echocardiograms and produces volumetric cardiac measurements that the company describes as equivalent in accuracy to magnetic resonance imaging — and it does so on ultrasound systems that already sit in hospitals worldwide, regardless of vendor.A Regulatory Submission Into the World's Largest Cardiac Disease PopulationOn April 28, 2026, Ventripoint announced that its strategic partner Lishman Global Inc. had formally submitted the Company's VMS+ 4.0 system to China's National Medical Products Administration (NMPA) — the regulatory body commonly referred to as the Chinese FDA — for approval.[4] The filing is the principal regulatory gating event for VMS+ access to the Chinese cardiology market, and according to the Company, Lishman Global qualified for the NMPA's "green channel" pathway, an expedited review process designed for innovative medical technologies that address significant clinical needs.[4]The scale of the opportunity is difficult to overstate. The Company has cited an estimated 330 million cardiovascular disease patients in China, with cardiovascular disease the leading cause of mortality in the country.[4]Echocardiography is already the most widely used cardiac imaging modality in China because of its cost-effectiveness, portability, and scalability across both urban and rural healthcare settings.[4] What the market has been short on, in Ventripoint's framing, is the kind of AI-driven analytic layer that produces consistent, MRI-equivalent volumetric measurements from those existing ultrasound exams — particularly given variability in image interpretation across operators and limited access to advanced modalities like MRI in many parts of the country."China is one of the most important cardiac care markets in the world," said Hugh MacNaught, President and Chief Executive Officer of Ventripoint Diagnostics, in the announcement. "With the benefit of an expedited review pathway, we are well positioned to bring VMS+ 4.0 to clinicians and patients more quickly."[4] Paul Gibson, Chief Technology Officer of Lishman Global, added that qualification for the NMPA's green channel "underscores the clinical relevance and innovation of VMS+ 4.0 and provides a clear pathway to accelerated adoption."[4]Read the full report of Ventripoint here: USA News Group Ventrpoint CoverageBringing AI Cardiac Imaging Into a Padua-Based European CongressSix days after the NMPA submission was announced, Ventripoint disclosed plans to exhibit at the 59th Annual Meeting of the Association for European Paediatric and Congenital Cardiology (AEPC), held May 12–16, 2026 in Padua, Italy.[5] Founded in 1963, AEPC is described as the world's largest association in congenital cardiology, bringing together more than 1,000 specialists across 32 European countries.[5]The 2026 meeting was hosted by the University of Padova and featured a scientific program centred on advanced cardiovascular imaging and artificial intelligence — a fit, the Company argued, for what VMS+ is designed to deliver.[5]A central focus of Ventripoint's booth at AEPC was the use of VMS+ to support evolution of cardiac function over time in congenital heart disease (CHD) patients. The clinical rationale, as the Company described it, sits inside the 2020 ESC Guidelines for Adult Congenital Heart Disease — guidelines co-endorsed by AEPC — which identify CHD as a lifelong chronic condition requiring structured, individualised follow-up, and which affirm echocardiography as the key modality for longitudinal assessment of ventricular function.[5] The latest release, VMS+ 4.0, was purpose-built around the workflow needs of clinicians, the Company has said, streamlining the time required to generate assessments and making volumetric cardiac analysis accessible at the point of care.[5]"AEPC represents the heart of the European congenital cardiology community, and we are proud to be part of it," MacNaught said in the AEPC announcement. "VMS+ delivers fast, affordable, and accessible volumetric cardiac assessments with accuracy comparable to MRI — giving clinicians the confidence they need to manage their patients at every stage of life."[5]A Wider Pattern of Validation Events Through Spring 2026The NMPA submission and AEPC exhibition are the two most recent links in a chain of events the Company has been building since the start of the year. Earlier in spring 2026, Ventripoint announced its Edison Award recognition, signed a commercial agreement with LG Consulting Solutions to support deployment of VMS+ across Northern California hospital systems, and announced a partnership delivering AI 3D heart mapping into Indigenous community settings through a Nisg_a'a partnership.[6]Considered together, those steps describe a small-cap AI medtech company simultaneously stacking validation across regulatory, commercial, and clinical fronts at the exact moment the broader hospital procurement environment is reorganizing around AI clinical solutions.[6]The LG Consulting Solutions agreement is structured precisely to address the financial proof requirement that has come to dominate hospital adoption decisions. Under the agreement, LG Consulting provides economic analysis, clinical implementation support, and health system business case development to assist hospitals and cardiac programs in adopting VentriPoint's AI-enhanced echocardiography technology.[6]In other words, the commercial framework on the ground in Northern California is designed to deliver department-level economic justification — which is exactly what hospital procurement is currently demanding before they sign.How Ventripoint Sits Inside a Reshaping Cardiac AI FieldVentripoint is far from the only public company chasing the AI cardiac imaging opportunity. Several larger names have moved aggressively across the past year — and the procurement environment for AI medtech is reshaping in real time as a result.Butterfly Network, Inc. (NYSE: BFLY) is one of the highest-profile names in handheld ultrasound. The Company has continued to expand integrations between its iQ family of probes and third-party AI cardiac applications, including the August 2025 announcement integrating Bordeaux-based DESKi's HeartFocus cardiac examination software into Butterfly's handheld devices — software that received FDA clearance in April 2025 and that allows healthcare professionals with minimal training to capture complete echocardiographic views.[7] Butterfly's strategy of partnering with AI cardiac software vendors places it in a structurally adjacent — but distinct — segment of the cardiac AI market from a knowledge-based reconstruction platform like Ventripoint's VMS+.Tempus AI, Inc. (NASDAQ: TEM) has been one of the cardiology AI sector's most-watched commercial stories. Tempus generated $1.2 billion in revenue for full-year 2025 and issued 2026 guidance of approximately $1.59 billion with around $65 million in adjusted EBITDA — projecting its first year of positive adjusted profitability.[1] Tempus's platform integrates genomic sequencing, clinical data analytics, and AI-driven insights across oncology, cardiology, and neuropsychiatric care — a substantially broader footprint than a pure-play cardiac imaging company, but one that frames the institutional investor appetite for AI medical platforms more generally. RadNet, Inc. (NASDAQ: RDNT) has built one of the larger imaging-services-plus-AI businesses through its DeepHealth subsidiary. RadNet's recent acquisition of Gleamer — whose products are deployed in over 2,000 facilities across 30 countries — uniquely positions DeepHealth to expand its impact across routine imaging and accelerate the delivery of automated diagnostics, with the combined entity projected to generate approximately $30 million in annualized recurring AI revenue in 2026.[1] RadNet's scale on the imaging-services side gives it a different kind of moat than a pure software vendor — but the strategic message about AI moving from pilot to recurring revenue is the same one playing out across the sector.GE HealthCare Technologies Inc. (NASDAQ: GEHC) brings the perspective of one of the world's largest installed bases of cardiac imaging equipment. GE HealthCare has been advancing its own cardiac imaging capabilities through AI-powered reconstruction technologies — including AIR Recon DL and Sonic DL — designed to deliver diagnostic-quality cardiac MRI scans in significantly reduced timeframes.[1]The fact that the largest incumbent in the space is investing aggressively in AI-augmented cardiac imaging is, if anything, supportive of the thesis that AI-enhanced echocardiography platforms like Ventripoint's are arriving into a market actively being reorganized around AI-driven clinical workflows. Across all four comparables, the same pattern shows up: hospital systems are demanding economic proof, AI cardiac imaging is shifting from pilot to recurring revenue, and AI-augmented echocardiography is increasingly viewed as the most leverageable cardiac modality given its existing scale, portability, and cost profile.What Comes NextVentripoint's near-term catalysts are reasonably visible. The NMPA review process for VMS+ 4.0 in China is now underway, and the Company has said it will provide further updates as the review process progresses.[4] On the commercial side, the LG Consulting Solutions deployment partnership in Northern California is set up to convert clinical evidence into hospital-level economic justification.[6] On the European side, the AEPC exhibition in Padua delivered direct engagement with the largest concentration of paediatric and congenital cardiologists in Europe — a clinical community uniquely well-suited to longitudinal echocardiography-driven follow-up of complex patients.[5]The Company's stated 2026 priority is accelerating the integration of VMS+ into routine clinical practice and identifying opportunities to build better care pathways for CHD patients.[5]For investors tracking the cardiac AI sector, the Company offers a small-cap exposure to a corner of the AI medtech market where the procurement environment, the regulatory environment, and the clinical evidence base have all moved into alignment within the past six months. Whether that alignment translates into accelerating commercial momentum will be measured one deployment, one NMPA decision, and one congress at a time across the back half of 2026.Read the full report of Ventripoint here: USA News Group Ventrpoint CoverageCONTACT INFORMATION
USA News Group
info @therooster-2873Article Sources
[1] https://www.fortunebusinessinsights.com/ai-in-cardiology-market-115767 [2] https://www.marketresearch.com/Business-Research-Company-v4006/Cardiac-AI-Monitoring-Diagnostics-Global-44014609/ [3] https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-in-cardiology-market-report [4] https://finance.yahoo.com/sectors/healthcare/articles/ventripoints-vms-tm-4-0-120000052.html [5] https://finance.yahoo.com/sectors/healthcare/articles/ventripoint-exhibit-59th-annual-meeting-132316747.html [6] https://www.globenewswire.com/news-release/2026/05/13/3294035/0/en/A-Toronto-AI-Cardiac-Diagnostics-Company-Just-Cleared-Three-of-the-Hardest-Validation-Bars-in-Medtech.html [7] https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-in-cardiology-market-reportDISCLAIMER NOTICENothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (MIQ). This article is being distributed for Baystreet.ca media Corp, who has been paid a fee for an advertising campaign. MIQ has not been paid a fee for Ventripoint Diagnostics Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Baystreet.ca Media Corp. (BAY) There may also be 3rd parties who may have shares of Ventripoint Diagnostics Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY own shares of Ventripoint Diagnostics Ltd and reserve the right to buy and sell, and will buy and sell shares of Ventripoint Diagnostics Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by Ventripoint Diagnostics Ltd.; this is a paid advertisement, we currently own shares of Ventripoint Diagnostics Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.Logo - https://mma.prnewswire.com/media/2838876/5656770/USA_News_Group_Logo.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/cardiac-ai-diagnostics-stack-validation-wins-across-regulatory-and-commercial-fronts-302775850.htmlSOURCE USA News Group Original: Cardiac AI Diagnostics Stack Validation Wins Across Regulatory and Commercial Fronts

Butterfly Network Appoints Caroll H. Neubauer to Board of DirectorsMay 8, 2026 8:05 AM
Business Wire Seasoned Medtech Leader and Former Chairman and CEO of B. Braun of America Brings Deep Healthcare Industry Expertise Butterfly Network, Inc. (NYSE: BFLY) (“Butterfly”), a pioneer and leader in semiconductor-based ultrasound devices, programmable cloud software and AI, today announced the appointment of Caroll H. Neubauer to its Board of Directors, effective May 18, 2026. Mr. Neubauer will serve on the Board’s Compensation Committee and Technology Committee. Mr. Neubauer has achieved a distinguished career spanning three decades with B. Braun, including serving for 29 years on the Global Management Board of the B. Braun Group of Companies. During his tenure, he helped grow annual revenue from approximately $1 billion to more than $8 billion. He also led the company's North American operations as Chairman and CEO of B. Braun USA, overseeing its evolution into one of the leading providers of infusion therapy and pain management solutions. Mr. Neubauer currently serves as an Executive Advisor to Water Street Healthcare Partners in Chicago. Beyond his work at B. Braun, Mr. Neubauer has been an influential voice in the broader healthcare industry. He served on the Board of Directors of the Advanced Medical Technology Association (AdvaMed) for more than 15 years, playing a central role in the effort to repeal the U.S. medical device tax in 2019. AdvaMed presented him with its Lifetime Achievement Award in 2024, the organization's highest honor. Mr. Neubauer also served as Chairman of the German American Chamber of Commerce New York for over 10 years, championing widely lauded programs to strengthen transatlantic ties and advance healthcare communities across the U.S. and Europe. Mr. Neubauer earned a German Law degree from The Albert Ludwigs University, Freiburg, Germany, and a Master of Laws from Georgetown University. "Caroll spent three decades building and scaling one of the world's leading medical device companies, navigating global markets, complex regulatory environments, and large-scale commercial partnerships," said Joseph DeVivo, President, Chief Executive Officer and Chairman of Butterfly. "That breadth of experience — from growing a business across geographies to forging the kinds of industry relationships that open new markets — is directly relevant as Butterfly evolves into a multi-faceted platform. We are delighted to welcome him to the Board." "Butterfly has built a genuinely differentiated technology platform, and the company is at a compelling moment: accelerating toward profitability while pursuing multiple growth initiatives," said Mr. Neubauer. "That combination of financial momentum and strategic breadth is what makes this such an exciting time to join the Board. I look forward to working with Joe and the team to help Butterfly realize its full potential." About Butterfly Network Butterfly Network, Inc. (NYSE: BFLY) is a pioneer and leader in semiconductor-based ultrasound devices, programmable cloud software and AI. Butterfly first proved its technology in the point-of-care ultrasound market – commercializing the world’s first single-probe, whole-body portable ultrasound device, which is now on its best-selling, third-generation: Butterfly iQ3™. The Company combines its advanced hardware with cloud software and AI, an enterprise workflow solution (Compass AI™) and other offerings to drive adoption of affordable, accessible ultrasound. Butterfly also enables third-party development of imaging AI apps through Butterfly Garden™, its software development kit and AI marketplace. In addition to its medical imaging products, Butterfly Embedded™ is the Company’s Ultrasound-on-Chip™ licensing and co-development business designed to enable a new wave of ultrasound-enabled technologies across non-competitive healthcare markets and beyond. Through Butterfly Embedded™, partners can build and scale novel ultrasound applications powered by Butterfly’s proprietary semiconductor chip and software platform. Butterfly’s innovations have been recognized by Prix Galien USA, Fierce 50, TIME’s Best Inventions and Fast Company’s World Changing Ideas, among other achievements. To learn more, visit: www.butterflynetwork.com View source version on businesswire.com: https://www.businesswire.com/news/home/20260508929751/en/ Media:
Liz Learned Snyder
Director, PR and Communications
media@butterflynetinc.com Investors:
John Doherty
Chief Financial Officer
investors@butterflynetinc.com Original: Butterfly Network Appoints Caroll H. Neubauer to Board of Directors

Butterfly Network to Present at the Bank of America Securities 2026 Global Healthcare ConferenceMay 7, 2026 8:05 AM
Business Wire The Company presentation will occur at 4:35 PM PT on Tuesday, May 12, 2026 Butterfly Network, Inc. (NYSE: BFLY) (“Butterfly”), today announced that the company will participate at the Bank of America Securities 2026 Global Healthcare Conference. Joseph DeVivo, President, Chief Executive Officer & Chairman and John Doherty, EVP, Chief Financial Officer will present at 4:35 PM PT on May 12, 2026, and host one-on-one investor meetings throughout the day. A webcast of the presentation will be available in the Events & Presentations section of the Butterfly investor website (https://ir.butterflynetwork.com/events-and-presentations). To schedule a one-on-one meeting with Butterfly management, please reach out to your Bank of America representative. About Butterfly Network Butterfly Network, Inc. (NYSE: BFLY) is driving a digital revolution in ultrasound imaging and sensing with its proprietary Ultrasound-on-Chip™ semiconductor technology and software solutions. Butterfly first proved its technology in the point-of-care ultrasound market – commercializing the world’s first single-probe, whole-body portable ultrasound device, which is now on its best-selling, third-generation: Butterfly iQ3™. The Company combines its advanced hardware with cloud software and AI, an enterprise workflow solution (Compass AI™) and other offerings to drive adoption of affordable, accessible ultrasound. Butterfly also enables third-party development of imaging AI apps through Butterfly Garden™, its software development kit and AI marketplace. In addition to its medical imaging products, Butterfly Embedded™ is the Company’s Ultrasound-on-Chip™ licensing and co-development business initiative designed to enable a new wave of ultrasound-enabled technologies across non-competitive healthcare markets and beyond. Through Butterfly Embedded™, partners can build and scale novel ultrasound applications powered by Butterfly’s proprietary semiconductor chip and software platform. Butterfly’s innovations have been recognized by Prix Galien USA, Fierce 50, TIME’s Best Inventions and Fast Company’s World Changing Ideas, among other achievements. To learn more, visit: www.butterflynetwork.com View source version on businesswire.com: https://www.businesswire.com/news/home/20260507182524/en/ Investors:
John Doherty
Chief Financial Officer
investors@butterflynetinc.com Original: Butterfly Network to Present at the Bank of America Securities 2026 Global Healthcare Conference

Butterfly Network Reports First Quarter 2026 Financial ResultsApril 30, 2026 6:30 AM
Business Wire
Delivered Revenue Above Consensus and Beat Adjusted EBITDA Guidance



Reaffirmed full year Revenue and Adjusted EBITDA Guidance



Delivered quarterly Revenue of $26.5 million in Q1, representing 25% YoY growth



Delivered 69% Gross Margin up 600 bps and Adjusted EBITDA of ($6.1M) up 32% YoY



Butterfly Network, Inc. (NYSE: BFLY) (“Butterfly” or the “Company”), a pioneer and leader in semiconductor-based ultrasound devices, programmable cloud software and AI, today announced financial results for the first quarter ended March 31, 2026, and provided a business update.


Joseph DeVivo, Butterfly’s President, Chief Executive Officer and Chairman commented, “Butterfly opened the year with another strong quarter, coming in above consensus with 25% revenue growth and continued gross margin improvement. We are executing with discipline while continuing to invest in the vast opportunity ahead.”


DeVivo continued, “Our business is starting to come together around three growth engines. Point-of-care ultrasound is scaling globally. Home & Community Care is extending that capability into the patient environment. And Butterfly Embedded is expanding our technology beyond medical ultrasound into new modalities. These are not separate opportunities. They are all part of the same Butterfly platform, a single system that is beginning to work together and compound over time. We are still early, but the direction is clear, and we are building with focus and discipline to drive long-term growth.”


Recent Operational and Strategic Highlights:



Gestational Age AI Tool: Received FDA clearance and initiated rollout of blind-sweep AI tool for rapid fetal age estimation across U.S. and global health markets.



Butterfly Garden Ecosystem: Added two new partners, bringing the portfolio total to 30, while continuing to progress toward additional commercial-ready applications.



Compass AI™ and Enterprise Momentum: Closed first enterprise deal of the year and drove significant growth in the software pipeline since launching the next generation Compass AI solution.



Global Market Expansion: Advancing entry into new markets across the Americas and Asia, including high-growth regions such as Brazil, with iQ3 expansion in multiple countries.



Home & Community Care: Progressing toward first commercial agreement in the first half of 2026, with initial statewide deployment expected in the third quarter.



Butterfly Embedded™: Signed ninth company to the portfolio as of April 2026 and made meaningful development progress with existing partners.



Apollo Platform Development: Continued advancement of next-generation semiconductor architecture designed to significantly increase data processing and compute performance.



Three Months Ended March 31, 2026 Financial Results


Revenue: Total revenue was $26.5 million, representing growth of 25% from $21.2 million in the first quarter of 2025. U.S. revenue was $21.4 million, up 25% from prior year, primarily driven by revenue from our Butterfly Embedded™ partnerships, including our co-development partnership with Midjourney. International revenue increased 23% year-over-year to $5.2 million, largely resulting from increased probe sales in the current year to our distribution partners. Both our U.S. and international revenue also benefited from favorable shifts in our product sales mix towards our higher-priced iQ3 probes.


Gross margin: Gross profit was $18.3 million versus gross profit of $13.4 million in the prior year period. Gross margin increased to 68.9% compared to 63.0% in the prior year period. This increase was primarily due to the relatively higher margin return on our Butterfly Embedded™ licensing revenue, as compared to our core business offerings, as well as a reduction in software amortization costs for our historic software development investments.


Operating expenses: Operating expenses were $32.2 million, up 1% from $31.8 million in the prior year period. Total operating expenses excluding stock-based compensation and other expenses were $26.2 million, compared to $24.9 million in the first quarter of 2025, largely reflecting increased headcount in the current year from investments we've made in our internal capabilities throughout the past 12 months to support revenue growth as well as higher professional services costs.


Net loss: Net loss was $12.7 million, compared to $14.0 million in the prior year period.


Adjusted EBITDA: Adjusted EBITDA loss was $6.1 million, compared to $9.1 million in the prior year period.


EPS: EPS was $(0.05), compared to $(0.06) in the prior year period.


Adjusted EPS: Adjusted EPS was $(0.03), compared to $(0.04) in the prior year period.


Cash and cash equivalents: Cash and cash equivalents were $138.0 million as of March 31, 2026.


Guidance


Reaffirmed revenue guidance and adjusted EBITDA guidance for the Fiscal Year 2026:



Revenue of $117 million to $121 million, or approximately 20% to 24% growth



Adjusted EBITDA loss of $21 million to $25 million



Provided revenue guidance and adjusted EBITDA guidance for the 2nd Quarter of 2026:



Revenue of $27 million to $31 million, or approximately 24% growth year-over-year at the midpoint



Adjusted EBITDA loss of $6 million to $8 million



Reconciliation of GAAP to Adjusted


Reconciliations of gross profit and gross margin to adjusted gross profit and adjusted gross margin and of net loss and EPS to adjusted net loss, adjusted EBITDA, and adjusted EPS for the three months ended March 31, 2026, and 2025 are provided in the financial schedules that are part of this press release. An explanation of these non-GAAP financial measures is also included below under the heading “Non-GAAP Financial Measures.”


Conference Call


A conference call and webcast to discuss first quarter 2026 financial performance and operational progress is scheduled for 8:00 am ET on April 30, 2026. The conference call will be broadcast live in listen-only mode via a webcast on Butterfly’s Investor Relations website at Events & Presentations. Individuals interested in listening to the conference call on your telephone may do so by dialing approximately ten minutes prior to start time:


United States (Local): +1 646 844 6383

United States (Toll-Free): +1 833 470 1428

Global Dial-In Numbers: https://www.netroadshow.com/events/global-numbers?confId=95124

Access Code: 144243


After the live webcast, the call will be archived on Butterfly’s Investor Relations page. In addition, a telephone replay of the call will be available until May 7, 2026, by dialing:


United States (Local): +1 929 458 6194

United States (Toll-Free): +1 866 813 9403

Access Code: 762967


About Butterfly Network


Butterfly Network, Inc. (NYSE: BFLY) is a healthcare company driving a digital revolution in medical imaging with its proprietary Ultrasound-on-Chip™ semiconductor technology and ultrasound software solutions. In 2018, Butterfly launched the world’s first handheld, single-probe, whole-body ultrasound system, Butterfly iQ. The iQ+ followed in 2020, and the iQ3 in 2024, each with improved processing power and performance by leveraging Moore’s Law. The iQ3 earned Best Medical Technology at the 2024 Prix Galien USA Awards, a prestigious honor and one of the highest accolades in healthcare. Butterfly’s innovations have also been recognized by Fierce 50, TIME’s Best Inventions and Fast Company’s World Changing Ideas, among other achievements.


Butterfly combines advanced hardware, intelligent software, AI, services, and education to drive adoption of affordable, accessible imaging. Clinical publications demonstrate that its handheld ultrasound probes paired with Compass™ enterprise workflow software, can help hospital systems improve care workflows, reduce costs, and enhance provider economics. With a cloud-based solution that enables care anywhere through next-generation mobility, Butterfly aims to democratize healthcare by addressing critical global healthcare challenges. Butterfly devices are commercially available to trained healthcare practitioners in areas including, but not limited to, parts of Africa, Asia, Australia, Europe, the Middle East, North America and South America; to learn more about available countries, visit: https://www.butterflynetwork.com/choose-your-country.


Non-GAAP Financial Measures


In addition to providing financial measures based on generally accepted accounting principles in the United States of America (“GAAP”), we provide additional financial measures that are not prepared in accordance with GAAP (“non-GAAP”). The non-GAAP financial measures included in this press release are adjusted gross profit, adjusted gross margin, adjusted net loss, adjusted EBITDA, and adjusted EPS. We present non-GAAP financial measures in order to assist readers of our financial statements in understanding the core operating results that our management uses to evaluate the business and for financial planning purposes. Our non-GAAP financial measures provide an additional tool for investors to use in comparing our financial performance over multiple periods.


The non-GAAP financial measures included in this press release are key performance measures that our management uses to assess our operating performance. These non-GAAP measures facilitate internal comparisons of our operating performance on a more consistent basis. We use these performance measures for business planning purposes and forecasting. We believe that these non-GAAP measures enhance an investor’s understanding of our financial performance as they are useful in assessing our operating performance from period-to-period by excluding certain items that we believe are not representative of our core business.


The non-GAAP financial measures included in this press release may not be comparable to similarly titled measures of other companies because they may not calculate these measures in the same manner. These non-GAAP financial measures are not prepared in accordance with GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with GAAP. When evaluating the Company’s performance, you should consider adjusted gross profit, adjusted gross margin, adjusted net loss, adjusted EBITDA, and adjusted EPS alongside other financial performance measures prepared in accordance with GAAP, including gross profit, gross margin, net loss, and EPS.


The non-GAAP financial measures do not replace the presentation of our GAAP financial results and should only be used as a supplement to, not as a substitute for, our financial results presented in accordance with GAAP. In this press release, we have provided reconciliations of gross profit and gross margin to adjusted gross profit and adjusted gross margin and of net loss and EPS to adjusted net loss, adjusted EBITDA, and adjusted EPS, the most directly comparable GAAP financial measures. Reconciliations of our non-GAAP financial measures to corresponding GAAP measures are not available on a forward-looking basis because we are unable to predict with reasonable certainty the non-cash component of employee compensation expense, changes in our working capital needs, variances in our supply chain, the impact of earnings or charges resulting from matters we consider not to be reflective, on a recurring basis, of our ongoing operations, and other such items without unreasonable effort. These items are uncertain, depend on various factors, and could be material to our results computed in accordance with GAAP. Management strongly encourages investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure.


Forward Looking Statements


This press release 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, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, our expectations with respect to financial results, revenue growth, future performance of our ultrasound business and Embedded opportunities (inclusive of co-development, revenue share/commercialization revenue, chip purchases, and/or chip licensing opportunities through the Embedded program), commercialization and plans to deploy our products and services, including expectations regarding the launches of our Compass AI software, Gestational Age AI Tool, our P5 and Apollo chips and fourth-generation technology, finalizing our first commercial Butterfly Home and Community Care agreement, development of products and services, and the size and potential growth of current or future markets for our products and services. Forward-looking statements are based on our current beliefs and assumptions and on information currently available to us. These forward-looking statements involve significant known and unknown risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside our control and are difficult to predict. Factors that may cause such differences include, but are not limited to: our ability to grow and manage growth effectively; the success, cost, and timing of our product and service development activities; the potential attributes and benefits of our products and services; the degree to which our products and services are accepted by healthcare practitioners and patients for their approved uses; our ability to obtain and maintain regulatory approval for our products, as applicable, and any related restrictions and limitations on the use of any authorized product; our ability to identify, in-license, or acquire additional technology; our ability to maintain our existing license, manufacturing, supply, and distribution agreements; the success, cost, and timing of our efforts to out-license our intellectual property to third parties; our ability to compete with other companies currently marketing or engaged in the development of ultrasound imaging devices, many of which have greater financial and marketing resources than us; changes in applicable laws or regulations; the size and growth potential of the markets for our products and services, and our ability to serve those markets, either alone or in partnership with others; the pricing of our products and services, and reimbursement for medical procedures conducted using our products and services; our estimates regarding expenses, revenue, capital requirements, and needs for additional financing; our financial performance; our ability to attract and retain customers; our ability to manage our growth effectively; our ability to protect or enforce our intellectual property rights; our ability to maintain the listing of our Class A common stock on the New York Stock Exchange; and other risks and uncertainties indicated from time to time in our most recent Annual Report on Form 10-K or in subsequent filings that we make with the Securities and Exchange Commission. We caution that the foregoing list of factors is not exclusive. We caution you not to place undue reliance upon any forward-looking statements, which speak only as of the date of this press release. We do not undertake or accept any obligation or undertake to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions, or circumstances on which any such statement is based.




BUTTERFLY NETWORK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except share and per share amounts)

(Unaudited)








 



 






Three months ended March 31,








 






2026






 






2025








Revenue:






 






 






 








Product






$






14,653






 






 






$






14,164






 








Software and other services






 






11,877






 






 






 






7,061






 








Total revenue






 






26,530






 






 






 






21,225






 








Cost of revenue:






 






 






 








Product






 






6,355






 






 






 






5,824






 








Software and other services






 






1,890






 






 






 






2,021






 








Total cost of revenue






 






8,245






 






 






 






7,845






 








Gross profit






 






18,285






 






 






 






13,380






 








Operating expenses:






 






 






 








Research and development






 






9,538






 






 






 






9,924






 








Sales and marketing






 






11,417






 






 






 






11,620






 








General and administrative






 






10,818






 






 






 






9,600






 








Other






 






385






 






 






 






704






 








Total operating expenses






 






32,158






 






 






 






31,848






 








Loss from operations






 






(13,873






)






 






 






(18,468






)








Interest income






 






1,186






 






 






 






1,651






 








Interest expense






 






(279






)






 






 






(347






)








Change in fair value of warrant liabilities






 






413






 






 






 






826






 








Other income (expense), net






 






(124






)






 






 






2,378






 








Loss before provision for income taxes






 






(12,677






)






 






 






(13,960






)








Provision for income taxes






 






—






 






 






 






7






 








Net loss and comprehensive loss






$






(12,677






)






 






$






(13,967






)








Net loss per common share attributable to Class A and B common stockholders, basic and diluted






$






(0.05






)






 






$






(0.06






)








Weighted-average shares used to compute net loss per share attributable to Class A and B common stockholders, basic and diluted






 






256,516,256






 






 






 






234,923,536






 









BUTTERFLY NETWORK, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share amounts)

(Unaudited)










 



 






March 31, 2026






 






December 31, 2025








Assets






 






 






 








Current assets:






 






 






 








Cash and cash equivalents






$






137,954






 






 






$






150,489






 








Accounts receivable, net of allowance for credit losses of $1,180 and $1,389 at March 31, 2026 and December 31, 2025, respectively






 






25,210






 






 






 






26,744






 








Inventories






 






59,304






 






 






 






61,389






 








Current portion of vendor advances






 






2,908






 






 






 






2,063






 








Prepaid expenses and other current assets






 






14,413






 






 






 






8,418






 








Total current assets






 






239,789






 






 






 






249,103






 








Property and equipment, net






 






16,113






 






 






 






16,587






 








Intangible assets, net






 






7,166






 






 






 






7,516






 








Non-current portion of vendor advances






 






4,970






 






 






 






5,008






 








Operating lease assets






 






12,233






 






 






 






12,652






 








Other non-current assets






 






5,651






 






 






 






5,667






 








Total assets






$






285,922






 






 






$






296,533






 








Liabilities and stockholders’ equity






 






 






 








Current liabilities:






 






 






 








Accounts payable






$






2,817






 






 






$






5,442






 








Deferred revenue, current






 






22,659






 






 






 






26,909






 








Accrued purchase commitments, current






 






131






 






 






 






131






 








Warrant liabilities, current






 






—






 






 






 






413






 








Accrued expenses and other current liabilities






 






33,973






 






 






 






32,222






 








Total current liabilities






 






59,580






 






 






 






65,117






 








Deferred revenue, non-current






 






9,631






 






 






 






9,391






 








Operating lease liabilities






 






17,017






 






 






 






17,721






 








Other non-current liabilities






 






8,472






 






 






 






8,325






 








Total liabilities






 






94,700






 






 






 






100,554






 








Commitments and contingencies






 






 






 








Stockholders’ equity:






 






 






 








Class A common stock $.0001 par value; 600,000,000 shares authorized at March 31, 2026 and December 31, 2025; 234,777,441 and 227,318,426 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively






 






23






 






 






 






23






 








Class B common stock $.0001 par value; 27,000,000 shares authorized at March 31, 2026 and December 31, 2025; 26,426,937 shares issued and outstanding at March 31, 2026 and December 31, 2025






 






3






 






 






 






3






 








Additional paid-in capital






 






1,083,067






 






 






 






1,075,147






 








Accumulated deficit






 






(891,871






)






 






 






(879,194






)








Total stockholders’ equity






 






191,222






 






 






 






195,979






 








Total liabilities and stockholders’ equity






$






285,922






 






 






$






296,533






 









BUTTERFLY NETWORK, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)








 



 






Three months ended March 31,








 






2026






 






2025








Cash flows from operating activities:






 






 






 








Net loss






$






(12,677






)






 






$






(13,967






)








Adjustments to reconcile net loss to net cash used in operating activities:






 






 






 








Depreciation, amortization, and impairments






 






1,811






 






 






 






2,360






 








Non-cash interest expense






 






280






 






 






 






346






 








Write-down of inventories






 






—






 






 






 






52






 








Stock-based compensation expense






 






5,542






 






 






 






6,284






 








Change in fair value of warrant liabilities






 






(413






)






 






 






(826






)








Other






 






137






 






 






 






56






 








Changes in operating assets and liabilities:






 






 






 








Accounts receivable






 






1,409






 






 






 






857






 








Inventories






 






2,085






 






 






 






1,423






 








Prepaid expenses and other assets






 






(5,979






)






 






 






(570






)








Vendor advances






 






(807






)






 






 






29






 








Accounts payable






 






(2,643






)






 






 






(1,970






)








Deferred revenue






 






(4,010






)






 






 






(470






)








Change in operating lease assets and liabilities






 






(222






)






 






 






(201






)








Accrued expenses and other liabilities






 






1,593






 






 






 






(5,080






)








Net cash used in operating activities






 






(13,894






)






 






 






(11,677






)








 






 






 






 








Cash flows from investing activities:






 






 






 








Purchases of property, equipment, and intangible assets, including capitalized software






 






(950






)






 






 






(353






)








Net cash used in investing activities






 






(950






)






 






 






(353






)








 






 






 






 








Cash flows from financing activities:






 






 






 








Proceeds from exercise of stock options






 






2,309






 






 






 






133






 








Net proceeds from share offering






 






—






 






 






 






81,109






 








Payments to tax authorities for restricted stock units withheld






 






—






 






 






 






(2,775






)








Net cash provided by financing activities






 






2,309






 






 






 






78,467






 








Net increase (decrease) in cash, cash equivalents, and restricted cash






 






(12,535






)






 






 






66,437






 








Cash, cash equivalents, and restricted cash, beginning of period






 






154,504






 






 






 






92,790






 








Cash, cash equivalents, and restricted cash, end of period






$






141,969






 






 






$






159,227






 









BUTTERFLY NETWORK, INC.

ADJUSTED GROSS PROFIT AND ADJUSTED GROSS MARGIN

(In thousands)

(Unaudited)








 



 






Three months ended March 31,








 






2026






 






2025








Revenue






$






26,530






 






 






$






21,225






 








Cost of revenue






 






8,245






 






 






 






7,845






 








Gross profit






$






18,285






 






 






$






13,380






 








 






 






 






 








Gross margin






 






68.9






%






 






 






63.0






%








 






 






 






 








Add:






 






 






 








Write-downs and write-offs of inventories






 






—






 






 






 






52






 








Adjusted gross profit






$






18,285






 






 






$






13,432






 








 






 






 






 








Adjusted gross margin






 






68.9






%






 






 






63.3






%








 






 






 






 








Depreciation and amortization






$






790






 






 






$






1,402






 








% of revenue






 






3.0






%






 






 






6.6






%









BUTTERFLY NETWORK, INC.

ADJUSTED EBITDA AND ADJUSTED EPS

(In thousands, except share and per share amounts)

(Unaudited)









 



 






Included on the condensed consolidated statements of operations and comprehensive loss as:






Three months ended March 31,








 






 






2026






 






2025








Net loss






Net loss






$






(12,677






)






 






$






(13,967






)








Stock-based compensation






Cost of revenue, R&D, S&M, and G&A






 






5,542






 






 






 






6,284






 








Write-downs and write-offs of inventories






Cost of revenue






 






—






 






 






 






52






 








Change in fair value of warrant liabilities






Change in fair value of warrant liabilities






 






(413






)






 






 






(826






)








Other






Other






 






385






 






 






 






704






 








Other expense (income), net






Other income (expense), net






 






124






 






 






 






(2,378






)








Adjusted net loss






 






 






(7,039






)






 






 






(10,131






)








Interest income






Interest income






 






(1,186






)






 






 






(1,651






)








Interest expense






Interest expense






 






279






 






 






 






347






 








Provision for income taxes






Provision for income taxes






 






—






 






 






 






7






 








Depreciation and amortization






Cost of revenue, R&D, S&M, and G&A






 






1,811






 






 






 






2,360






 








Adjusted EBITDA






 






$






(6,135






)






 






$






(9,068






)








 






 






 






 






 








EPS






Net loss per common share






$






(0.05






)






 






$






(0.06






)








Adjusted EPS






 






$






(0.03






)






 






$






(0.04






)








Weighted average shares used to compute EPS and adjusted EPS






Weighted-average shares used to compute net loss per share






 






256,516,256






 






 






 






234,923,536








 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260430702349/en/
Investors

John Doherty

Chief Financial Officer, Butterfly

investors@butterflynetwork.com
Media

Liz Snyder

Director, PR & Communications, Butterfly

media@butterflynetinc.com


Original: Butterfly Network Reports First Quarter 2026 Financial Results