Full Press Release Details
Network, Inc. Announces Preliminary Revenue for the Fourth Quarter and Full Year 2021
Conn. & NEW YORK, January 11, 2022 -- Butterfly Network, Inc. (NYSE: BFLY) ("Butterfly"or the "Company"), a
digital health company transforming care with next generation, point-of-care ultrasound ("POCUS"), today announced certain
preliminary, unaudited results for the quarter and full year ended December 31, 2021.
team has performed well during the fourth quarter, with revenue exceeding our expectations," said Dr. Todd Fruchterman, President
and CEO of Butterfly. "Having announced our first enterprise-wide institutional deployment with the University of Rochester Medical
Center, we are even more energized about Butterfly's transformational potential to advance the practice of better medicine everywhere
Unaudited Revenue and Recent Business Highlights:
preliminary unaudited revenue results described in this press release are estimates only and are subject to revision until the Company
reports its full financial results for 2021.
previously announced its participation in the 40th Annual J.P. Morgan Healthcare Conference, including a formal virtual presentation
on Tuesday, January 11, 2022, at 2:15 pm Eastern Time. A live webcast of the presentation and an archived recording will be available
in the Events & Presentations section of the Butterfly Network investor website.
Butterfly Network, Inc.
by Dr. Jonathan Rothberg in 2011, Butterfly has created the world's first handheld, single-probe whole-body ultrasound system using
its patented Ultrasound-on-Chip semiconductor technology. Butterfly's mission is to democratize medical imaging and contribute
to the aspiration of global health equity, including for the 4.7 billion people around the world lacking access to ultrasound. Butterfly
is paving the way for earlier detection and remote management of health conditions around the world. The Butterfly iQ+ and Butterfly
iQ+ Vet can be purchased today by healthcare practitioners and veterinarians, respectively, in the United States, Australia, Austria,
Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden,
Switzerland, and the United Kingdom. Butterfly iQ+ is a prescription device intended for qualified healthcare professionals only. For
more information, visit www.butterflynetwork.com.
Financial Information
preliminary financial information included in this press release is unaudited and is subject to completion of the Company's quarter
and year-end closing procedures and further financial review. Butterfly Network has provided expected ranges, rather than specific amounts,
because these results are preliminary and subject to change. Actual results may differ from these estimates as a result of the completion
of our quarter and year-end closing procedures, review adjustments and other developments that may arise between now and the time such
financial information for the period is finalized. As a result, these estimates are preliminary, may change and constitute forward-looking
information and, as a result, are subject to risks and uncertainties. These preliminary estimates should not be viewed as a substitute
for full financial statements prepared in accordance with United States generally accepted accounting principles (GAAP), and they should
not be viewed as indicative of the Company's results for any future period. Butterfly Network's independent registered public
accountants have not audited, reviewed, compiled, or performed any procedures with respect to these estimated financial results and,
accordingly, do not express an opinion or any other form of assurance with respect to these preliminary estimates.
press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995. The Company's actual results may differ from its
expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions
of future events. Words such as "expect," "estimate," "project," "budget,"
"forecast," "anticipate," "intend," "plan," "may," "will,"
"could," "should," "believes," "predicts," "potential,"
"continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify
such forward-looking statements. These forward-looking statements include, without limitation, statements regarding fourth quarter
and full year 2021 revenue results, the Company's expectations with respect to financial results, future performance and
development of products and services. These forward-looking statements involve significant risks and uncertainties that could cause
the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside
the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to:
the completion and audit of the Company's financial statements for the year ended December 31, 2021; the impact of COVID-19 on
the Company's business; the ability to recognize the anticipated benefits of the business combination; the Company's
ability to grow and manage growth profitably; the success, cost and timing of the Company's product and service development
activities; the potential attributes and benefits of the Company's products and services; the Company's ability to
obtain and maintain regulatory approval for its products, and any related restrictions and limitations of any approved product; the
Company's ability to identify, in-license or acquire additional technology; the Company's ability to maintain its
existing license, manufacture, supply and distribution agreements; the Company's ability to compete with other companies
currently marketing or engaged in the development of products and services that the Company is currently marketing or developing;
changes in applicable laws or regulations; the size and growth potential of the markets for the Company's products and
services, and its ability to serve those markets, either alone or in partnership with others; the pricing of the Company's
products and services and reimbursement for medical procedures conducted using its products and services; the Company's
estimates regarding expenses, revenue, capital requirements and needs for additional financing; the Company's financial
performance; the Company's ability to raise financing in the future; and other risks and uncertainties indicated from time to
time in the Company's filings with the Securities and Exchange Commission. The Company cautions that the foregoing list of
factors is not exclusive. The Company cautions you not to place undue reliance upon any forward-looking statements, which speak only
as of the date of this press release. The Company does not undertake or accept any obligation or undertake to release publicly any
updates or revisions to any forward-looking statements to reflect any change in the Company's expectations or any change in
events, conditions or circumstances on which any such statement is based.