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Sep 30, 2024
Butterfly Q3 2024 Earnings Report
Butterfly Network's Q3 2024 results showed revenue growth and reduced net loss.
Key Takeaways
Butterfly Network reported a 33% year-over-year increase in quarterly revenue, reaching $20.6 million. The company also reduced its net loss by 38% and net cash used in operations by 50%. Improved guidance was given on the top and bottom line.
Quarterly revenue reached $20.6 million, a 33% increase year-over-year.
Net loss was reduced by 38% compared to the prior year.
Net cash used in operations decreased by 50%.
Launched iQ3 in Europe and expanded into new international markets.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Butterfly Network increased its revenue guidance and improved its Adjusted EBITDA guidance for the Fiscal Year 2024.
Positive Outlook
- Revenue guidance of $79 million to $81 million, representing over 20% growth.
- Adjusted EBITDA guidance improved by $5 million.
- Anticipate continued momentum with iQ3 probe.
- Expect growth from new Butterfly HomeCare services business.
- Aims to capitalize on Powered by Butterfly™ chip licensing program.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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