Q1 2026 Butterfly Network Inc Earnings Call Transcript
Key Points
- Butterfly Network Inc (BFLY) reported a 25% revenue growth year-over-year, indicating strong financial performance.
- The company achieved a 69% gross margin, showcasing efficient cost management and profitability.
- Butterfly Network Inc (BFLY) has the lowest first-quarter net loss since going public, reflecting improved financial health.
- The company received FDA clearance for a blind sweep AI tool, enhancing its product offerings and market credibility.
- Butterfly Network Inc (BFLY) is expanding its partnerships, with two new partners joining the Butterfly Garden, increasing the portfolio to 30.
- The company faces risks and uncertainties related to forward-looking statements, which could impact future performance.
- There is a reliance on regulatory approvals, which can be uncertain and time-consuming.
- Butterfly Network Inc (BFLY) is investing heavily in new areas, which may not yield immediate returns and could affect short-term profitability.
- The company is navigating a complex global macroeconomic environment, including potential impacts from the war in the Middle East and tariffs.
- Despite progress, the company still reported an adjusted EBITDA loss of $6.1 million for the first quarter of 2026.
Hello, everyone, and thank you for joining the Butterfly Network Inc. Q1 2026 Earnings Call. My name is Gabrielle, and I will be coordinating your call today. (Operator Instructions)
I will now hand over to your host, John Doherty. Please go ahead.
Good morning, and thanks to all of you for joining our call today. Earlier, Butterfly released financial results for the first quarter ended March 31, 2026. We also provided a business update. The release, which includes a reconciliation of management's use of non-GAAP financial measures compared to the most applicable GAAP measures, is currently available on the Investors section of the company's website at ir.butterflynetwork.com.
I, John Doherty, Chief Financial Officer of Butterfly, along with Joseph DeVivo, Butterfly's Chairman and Chief Executive Officer, will host the call this morning. During today's call, we will be making certain forward-looking statements. These statements may include, among other
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