Butterfly Network achieved record quarterly revenue of $21.5 million in Q2 2024, representing 16% YoY growth. U.S. revenue grew 3% to $14.8 million, while international revenue surged 57% to $5.2 million. The company's product revenue increased 19% YoY to $14.6 million, driven by higher unit sales and the new iQ3 probe's premium pricing.The company significantly improved its financial metrics, reducing Q2 net loss by 45% to $15.7 million and cutting net cash used in operations by 62%. Operating expenses decreased 29% to $29.8 million through cost reduction initiatives. The company maintains a strong cash position of $106.1 million and has extended its runway into 2027.Looking ahead, Butterfly Network affirmed its FY2024 revenue guidance of $75-80 million (15-20% growth) and improved its adjusted EBITDA loss guidance to $50-45 million. The company has regained NYSE compliance after achieving the required minimum share price. Strategic initiatives including the medical school Campus Essentials program, international expansion, and AI partnerships continue to drive growth.

Butterfly Network achieved record quarterly revenue of $21.5 million in Q2 2024, representing 16% YoY growth. U.S. revenue grew 3% to $14.8 million, while international revenue surged 57% to $5.2 million. The company's product revenue increased 19% YoY to $14.6 million, driven by higher unit sales and the new iQ3 probe's premium pricing.The company significantly improved its financial metrics, reducing Q2 net loss by 45% to $15.7 million and cutting net cash used in operations by 62%. Operating expenses decreased 29% to $29.8 million through cost reduction initiatives. The company maintains a strong cash position of $106.1 million and has extended its runway into 2027.Looking ahead, Butterfly Network affirmed its FY2024 revenue guidance of $75-80 million (15-20% growth) and improved its adjusted EBITDA loss guidance to $50-45 million. The company has regained NYSE compliance after achieving the required minimum share price. Strategic initiatives including the medical school Campus Essentials program, international expansion, and AI partnerships continue to drive growth.