Butterfly Network posts 44% revenue increase in Q3

By AuntMinnie.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, up from $10.1 million for the same period in 2020. The company also narrowed its net loss, from $92.2 million last year to $13.6 million.

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

For the year, Butterfly expects to post revenue between $60 million and $62 million and a net loss of $65 million to $75 million, it said.

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