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BUTTERFLY NETWORK, INC.

(BFLY)
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Butterfly Network : Named to Fortune's 2021 Change the World List

10/12/2021 | 08:34am EST

Butterfly Network, Inc. (NYSE: BFLY) (“Butterfly”), an innovative digital health company that is working to democratize medical imaging and improve global health equity, was one of 53 companies named to Fortune's 2021 Change the World list. Butterfly has created iQ+, an advanced assessment tool that allows ultrasound to be part of everyday clinical decision-making, enabling healthcare practitioners to make more informed decisions earlier, regardless of location or care setting.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211012005652/en/

In partnership with Bridge to Health, Butterfly being used in Uganda (Photo: Business Wire)

In partnership with Bridge to Health, Butterfly being used in Uganda (Photo: Business Wire)

The Change the World list recognizes companies that have had a positive social impact through activities that are part of their core business strategy. Fortune writers and editors, with help from the Shared Value Initiative, selected Change the World winners using four factors - measurable social impact, business results, degree of innovation and corporate integration.

About Butterfly Network

Founded by Dr. Jonathan Rothberg in 2011, Butterfly Network 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 trained and qualified healthcare professionals only.

Forward Looking Statements

This 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, the Company’s expectations with respect to 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 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.


ę Business Wire 2021
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Financials (USD)
Sales 2021 61,0 M - -
Net income 2021 -65,1 M - -
Net Debt 2021 - - -
P/E ratio 2021 -19,8x
Yield 2021 -
Capitalization 1 483 M 1 483 M -
Capi. / Sales 2021 24,3x
Capi. / Sales 2022 18,0x
Nbr of Employees 228
Free-Float 61,8%
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Number of Analysts 1
Last Close Price 7,52 $
Average target price 12,00 $
Spread / Average Target 59,6%
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Managers and Directors
Todd M. Fruchterman President, Chief Executive Officer & Director
Stephanie Fielding Chief Financial Officer
Jonathan M. Rothberg Chairman
Andrei Stoica Chief Technology Officer
David H. Ramsey Chief Information Officer
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