Butterfly Network reports Q3 EPS (13c), consensus (14c)

Reports Q3 revenue $15.4M, consensus $15.3M. Joe DeVivo, Butterfly’s Chairman and CEO said, “Butterfly had a productive third quarter as we executed on our strategic plan and near-term initiatives while reducing losses and investing in growth. The completion of our reorganization and the investments we have made in our Company will enable us to accelerate our return to growth while further fortifying our position as the leading point-of-care ultrasound company. Since the end of the second quarter, we have made a number of exciting announcements on partnerships and growth initiatives. Our recently announced partnership with Forest Neurotech validates our Butterfly Garden and provides an example of the potential of Butterfly’s disruptive technology through new applications and adjacent markets. That announcement built on top of the August launch of our Butterfly Garden, an ecosystem that will help to drive ultrasound AI to everyone by creating an easy pathway for third parties to develop new AI tools with our platform. And finally, we made substantial progress on our education priority by announcing the Butterfly Certified program and ScanLab to help accelerate adoption and give a clear roadmap of success to our customers.”