Butterfly Network - Stock Analysis

Butterfly is a revolutionary medical device powered by artificial intelligence is already saving lives and will ultimately improve healthcare for Americans and billions more overseas. It addresses the need for the country to improve the efficiency of its medical complex that accounts for an incredible 20% of our economy but still delivers uneven, slow and costly services.

The scientist who founded the company’s device that has been described by Inc. magazine, as “a device will change healthcare forever” is Dr. Jonathan Rothberg. He has been awarded the National Medal of Technology and Innovation, America’s highest honor for technological achievement.

Bill Gates backs the company and the company’s products are FDA-approved. Sales are soaring (up 44% last quarter) and profits are expected in 2022 as shares are trading at an attractive entry point. BFLY stock price in Google Sheets is also going strong

The Butterfly device address a number of issues that afflict American medicine - such as costly and slow medical imaging services. Based in Guilford, Connecticut, Butterfly Network can make medical imaging accessible to everyone around the world - at the lowest possible cost.

Let me explain. Right now, most medical imaging services are far more expensive than they need to be.

But Butterfly Network is changing that. It makes a handheld, battery-powered probe – so small that it fits into a doctor’s pocket - called the Butterfly iQ+. Therefore we observe a huge uptich in their stock price in Excel

When attached to a smartphone or tablet, it provides a window into the human body, enabling health professionals to check a patient’s heart, lungs, liver, arteries and more without ever leaving the examination room.

The FDA has already approved the device for 13 indications. The key technology is its patented “Ultrasound-on-Chip.” The combination of hardware, software and artificial intelligence allows it to detect disease and solve problems early rather after a patient becomes sick.

According to Finsheet, a provider of stock price in Excel and Google Sheets, Butterfly’s breakthrough software can be tied into a medical network to provide instantaneous images and improving both the speed and quality of healthcare. This is so much better than scheduling a test in a week and then having the patient come back and have to pay for another appointment.

However, if your doctor has the Butterfly iQ+ in their pocket, they just connect it to an iPhone, scans your body and has a digital image right in front of him.

Plus, while a MRI machine can cost more than a million bucks, the Butterfly iQ+ costs a little over $2,000. But it also requires a subscription service, a steady source of recurring revenue for the company.

Already, the top 100 hospitals in the country already use Butterfly iQ devices. These devices are also a boon to emerging markets. About 60% of the world has no access to medical imaging. In Africa and Latin America, for example, most pregnant women never receive an ultrasound before giving birth. According to Butterfly, more than 4.7 billion people around the world lack access to medical imaging. In line with that, the company just signed a partnership to bring Butterfly's iQ+ device to the Middle East, North Africa, Turkey, and India. 

In the second quarter, Butterfly also launched new solutions in obstetrics that will be delivered through the iQ+ platform to reduce maternal and fetal mortality.

The device is already available in the United States, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, New Zealand, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the United Kingdom. And anyone can purchase it on the Butterfly Network website.

The Butterfly could also save Medicare a bundle in postoperative care. Medicare alone spends over $20 billion a year hospitalizing heart failure patients but sending them home with the Butterfly iQ+.

While sales are growing at a 40% clip, the company is not yet profitable. Butterfly Network estimates the target market to be worth an $8 billion per year opportunity. However, there was progress. The company reported a net loss of $13.6 million, compared to a loss of $92.2 million in the same period in 2020. Columbia University's students illustrate how to get stock price in Excel and other financial data mentioned above here.

Finally, in 2021, Fortune magazine put the this “under the radar” firm on its elite Change the World list, which highlights companies that use the creative tools of capitalism to address society’s unmet needs.