Butterfly Network (BFLY) Oppenheimer 35th Annual Health Care MedTech and Services Conference summary

Business highlights and product innovation

• Launched third-generation iQ3 device in 2024, doubling processing power over previous model and driving 25% revenue growth.

• Only full-body, handheld, cloud-based ultrasound solution using semiconductor technology, enabling unique portability and AI integration.

• Plans for 2025 include continued marketing of iQ3, further health system penetration, monetization of semiconductor technology, and building a HomeCare business.

International expansion and regulatory developments

• International growth primarily through distribution partners, with new markets opened in Asia and Latin America in 2024.

• EU MDR certification achieved for second-generation device, with iQ3 rollout planned market-by-market in 2025.

• Awaiting EU RoHS exemption decision for piezoelectric ultrasound, with a review expected to conclude by late 2025 and potential market impact 12–18 months after.

• Supply chain is highly scalable to meet potential demand surge if regulatory changes favor semiconductor-based devices.

Sales strategy and enterprise adoption

• Three-pronged go-to-market model: online sales, inside sales, and direct/distributor sales depending on region.

• Enterprise deals focus on integrating software and devices across hospital departments, with growing pipeline and expectation of new deals in 2024.

• iQ3 enables more comprehensive enterprise conversations, with software integration into EMR and PACS systems.