Butterfly Network Reports Strong Q4 2024 Results

Butterfly Network, Inc. ( (BFLY) ) has released its Q4 earnings. Here is a breakdown of the information Butterfly Network, Inc. presented to its investors.

Butterfly Network, Inc. is a digital health company specializing in portable, semiconductor-based ultrasound technology, aiming to transform medical imaging with its innovative solutions. In its latest earnings report, Butterfly Network announced a record quarterly revenue of $22.4 million for the fourth quarter of 2024, marking a 35% year-over-year growth. The company also successfully reduced its net loss by 59% and decreased net cash used in operations by 76%, highlighting a strong financial performance. Additionally, Butterfly Network completed a public offering in January 2025, raising $81.7 million, which bolstered its financial position.

Key financial metrics from the report include a significant increase in gross profit to $13.7 million, up from a gross loss in the previous year, and an improved gross margin of 61.4%. Operating expenses decreased by 9% compared to the prior year, contributing to a reduced net loss of $18.1 million. The company’s adjusted EBITDA loss also improved, showing a decrease from $15.7 million to $9.1 million. Butterfly Network’s strategic initiatives, such as new clinical evidence supporting the use of its devices in heart failure management and the initiation of a pilot for virtual chronic care management, underscore its commitment to innovation and growth.

Butterfly Network’s strategic partnerships and product advancements, including new collaborations in liver disease assessment and AI development, are expected to drive revenue growth in 2025. The company also reported progress in its Butterfly HomeCare program, with promising early results in reducing hospital readmissions for chronic care patients. Furthermore, the company’s efforts to comply with the European Union’s Restriction of Hazardous Substances (RoHS) are ongoing, with a recommendation expected by the end of 2025.

Looking ahead, Butterfly Network is optimistic about its growth prospects, with revenue guidance for 2025 set at $96 million to $100 million, representing approximately 20% growth. The company remains focused on advancing its vision of making AI-powered, point-of-care ultrasound more accessible globally, positioning itself for continued expansion and innovation in the healthcare sector.