Butterfly Network has reported decreased revenues for its second quarter of the 2023 fiscal year.
The company posted total revenue of $18.5 million for the quarter (end-June 30), a 3.8% decrease from $19.2 million for the same period in 2022. But it also reported a decrease in net loss for the quarter: $28.7 million compared with $35.8 million in the same period of 2022.
Butterfly highlighted that it conducted a full strategy reevaluation with new CEO Joseph DeVivo, who was appointed in April. From there, it created a plan that includes a reorganization that reduces operating expenses, improves growth initiatives for all phases of business, and reinvests in its commercial organization.
