Butterfly Network, Inc.

Butterfly Network, Inc.

Handheld veterinary imaging with advanced technology, durable design, and cloud storage for improved care and client peace of mind. Learn more

Launch date
Market cap
$400m
Enterprise valuation
$322m (Public information from Sep 2024)
Branford Connecticut (HQ)

Financials

Estimates*

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Revenues, earnings & profits over time
USD2019202020212022202320242025
Revenues27.6m46.3m62.6m73.4m65.9m78.4m90.7m
% growth-68 %35 %17 %(10 %)19 %16 %
EBITDA(98.9m)(162m)(191m)(184m)(128m)--
% EBITDA margin(359 %)(349 %)(305 %)(250 %)(194 %)--
Profit(99.7m)(163m)(32.4m)(169m)(134m)--
% profit margin(361 %)(352 %)(52 %)(230 %)(203 %)--
R&D budget48.9m49.7m74.5m89.1m55.6m--
R&D % of revenue177 %108 %119 %121 %84 %--
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DateInvestorsAmountRound
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Total Funding-

Recent News about Butterfly Network, Inc.

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Butterfly Network, Inc. is revolutionizing veterinary care with its innovative product, Butterfly iQ Vet. This handheld ultrasound device is designed to provide high-quality imaging for a variety of animals, making it an essential tool for veterinarians. The device is compatible with both Android and iOS devices, allowing vets to scan, upload, and store all their imaging studies in one secure place, the Butterfly Cloud. This cloud-based storage system enables vets to review studies on their mobile devices from anywhere, ensuring timely and efficient care.

Butterfly iQ Vet serves a wide range of clients, including veterinary clinics, animal shelters, and stables. The device is built to withstand tough environments, with military-grade durability that includes resistance to drops, shocks, dust, and water. This makes it a reliable choice for veterinarians working in various settings.

The company operates in the veterinary imaging market, which is a niche but growing segment within the broader medical imaging industry. Butterfly Network's business model is based on selling the Butterfly iQ Vet device along with a membership plan priced at $2,999. This membership includes access to advanced imaging technology and cloud storage, providing a recurring revenue stream for the company.

Butterfly Network makes money through the sale of its devices and the ongoing membership fees. This dual revenue model ensures a steady income while also fostering customer loyalty through continuous service and support.

In summary, Butterfly Network is making significant strides in veterinary care by offering a durable, portable, and high-quality imaging solution that enhances the diagnostic capabilities of veterinarians. This not only improves animal care but also helps veterinary practices stand out in a competitive market.

Keywords: veterinary imaging, handheld ultrasound, durable device, cloud storage, mobile compatibility, animal care, diagnostic tool, recurring revenue, advanced technology, veterinary clinics.

Tech stack

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Tech stackLearn more about the technologies and tools that this company uses.