Butterfly Network grows revenue, narrows net loss in Q1

By AuntMinnie.com staff writers

May 13, 2021 -- Point-of-care ultrasound developer Butterfly Network reported strong revenue growth in its first quarter, driven in part by its collaboration with Sientra Health to offer its handheld device iQ+ in the plastic surgery market.

Revenue in the company's first quarter (end-March 31) increased 43.5% to $12.4 million, compared with $8.7 million in the first quarter of 2020. The firm's net loss for the quarter was $700,000, compared with a net loss of $24.4 million during the first quarter of 2020.

Butterfly went public earlier this year through a merger with Longview Acquisition.

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