Q1 2025 Butterfly Network Inc Earnings Call Transcript

May 2, 2025 / 12:00 PM GMT

Transcript 10-Q8-K

Key Points

Positve

Butterfly Network Inc (BFLY) reported a 20% revenue growth for Q1 2025, reaching $21.2 million, driven by higher sales volume and the launch of the IQ 3 probe.
The company improved its gross margin to 63% from 58% in the previous year, indicating better profitability.
Butterfly Network Inc (BFLY) is expanding its product portfolio with two generations of probes, allowing for a broader market reach.
The company is making significant progress in its enterprise hospital filling program, with a second hospital enterprise customer integrating its Compass software.
Butterfly Network Inc (BFLY) is actively expanding internationally, focusing on Asia, Latin America, and high-potential global health markets.

Negative

The company faces economic headwinds due to USAID funding cuts, causing delays in international revenue opportunities.
There is uncertainty regarding healthcare funding, which could impact future revenue and growth.
Tariff impacts could increase costs, with potential additional expenses if tariffs are implemented throughout 2025.
The company experienced lower renewals of individual software subscriptions, affecting software revenue growth.
Butterfly Network Inc (BFLY) is navigating broader economic pressures that may slow down deal closures.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BFLY.N - Butterfly Network Inc
Q1 2025 Butterfly Network Inc Earnings Call
May 02, 2025 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the Butterfly Network first quarter 2025 earnings call. My name is Carla and I will be coordinating your call today.

During the presentation, you can register to ask questions by pressing start followed by 1 on your telephone keypad. If you change your mind, please press start followed by 2.

I would not like to hand you over to the Chief Financial Officer Heather Goets to begin. Heather, please go ahead when you're ready.

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Unidentified_2 [2]
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Good morning and thank you for joining us. Earlier today,

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