Butterfly Network posts 44% revenue increase in Q3

By AuntMinnieEurope.com staff writers

November 15, 2021 -- Point-of-care ultrasound developer Butterfly Network posted a 44.3% increase in revenues for its third quarter.

The company reported revenue of $14.6 million (12.8 million euros), up from $10.1 million (8.9 million euros) for the same period in 2020. The company also narrowed its net loss, from $92.2 million (81 million euros) last year to $13.6 million (11.9 million euros).

For the nine months (end-30 September), the company posted revenue of $33.4 million (29.3 million euros), compared with $30.5 million (26.8 million euros)for the same period last year. It reported a net loss of $17.1 million (15 million euros) for the period, compared with a net loss of $139.8 million (122.8 million euros) in 2020.

For the year, Butterfly expects to post revenue between $60 million (52.7 million euros) and $62 million (54 million euros) and a net loss of $65 million (57 million euros) to $75 million (65.9 million euros), it said.

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