Butterfly Network looks to be cash flow breakeven by the end of 2027

Butterfly Network hosted its first investor day under President, Chief Executive Officer and Chairman, Joseph DeVivo. The event featured presentations from members of Butterfly’s executive and senior leadership team, providing insights into the Company’s product, software and services portfolio within its core point-of-care ultrasound market, as well as its strategic initiatives to expand into new markets. During the event, management introduced its plan to build and deploy a HomeCare Services business and revealed the initial business models for bladder and lung HomeCare with phased rollouts that allow increasing levels of patient autonomy – from In-Home Service partnerships to patient self-scanning to wearable technology monitoring, upon appropriate regulatory clearance of the latter two steps. The program included live human demonstrations with working prototypes of Butterfly’s next-generation wearable devices…Butterfly announced the financial goals of achieving cash flow breakeven by the end of 2027 and to exceed $500M in revenue by 2030. Butterfly’s previously issued guidance for fiscal year 2024 of low double-digit revenue growth and Adjusted EBITDA loss of $60M to $50M.