Butterfly Network (BFLY) Bank of America Global Healthcare Conference 2026 summary

Business and Technology Innovation

• Point-of-care and Ultrasound-on-Chip technologies enable compact, affordable, and versatile imaging at the patient’s location, democratizing access and reducing healthcare costs.

• Semiconductor-based ultrasound and next-generation Apollo architecture provide dynamic, programmable imaging, advanced imaging modes, and significant boosts in data processing and compute performance.

• Digital acquisition, cloud-based architecture, and Compass AI operating system revolutionize traditional ultrasound, offering interoperability, security compliance, and device-agnostic capabilities.

• Over 150,000 devices sold, with strong adoption in diverse medical settings, 80% of U.S. medical schools, and penetration in 100+ countries.

• Modern SaaS platform and Butterfly Garden accelerate adoption with AI-powered apps, FDA-cleared partner solutions, and educational tools, integrating with hospital systems for compliance and revenue capture.

Strategic Growth, Partnerships, and AI Integration

• AI and LLM models, including FDA-approved blind sweep applications, simplify image acquisition and interpretation, highlighting regulatory and technological leadership.

• Expansion into home care, therapeutics, wearables, and service businesses is expected to materially contribute by 2027, with progress toward first commercial agreement for Home & Community Care in H1 2026.

• Licensing the ultrasound chip through the Embedded program and partnerships with disclosed and undisclosed companies, including nine Embedded partners, expand the total addressable market from $30B to $35B and support a $350B healthcare opportunity.

• Multiple synergistic revenue streams include licensing, SDK access, enterprise software, and revenue share from hardware commercialization.

• Robust implementation and professional services support organizational adoption from day one, with ongoing discussions with 40+ partners and rapid growth in emerging ultrasound applications.

Financial Performance and Outlook

• Q1 2026 revenue grew 25% year-over-year to $26.5M, with adjusted gross margin up 600 bps to 69% and adjusted EBITDA loss improved by 32% to $(6.1)M.

• Embedded segment now represents 20–25% of revenue, with expectations for further growth.

• FY 2026 revenue guidance is $117–121M, with continued improvement in gross margin and reduced EBITDA loss.

• Cash and equivalents stood at $138M at the end of Q1 2026, with a strong balance sheet and focus on cash management positioning for break-even and value generation.

• Demonstrated financial discipline with consistent margin improvement, operational highlights, and new FDA clearances and partner additions.